Explurger said the funding round took place at a pre-money valuation of $40 Mn
Explurger said it would use the fresh capital to fuel its growth
Founded by Sood and Jitin Bhatia in 2021, Explurger operates a social media app for travellers which creates a personalised travelogue for each user
Travel-focussed social media platform Explurger, cofounded by Bollywood actor Sonu Sood, has raised $4.5 Mn (INR 37.3 Cr) in its Series A funding round led by Affle (India) Ltd.
In a statement, Explurger said the funding round took place at a pre-money valuation of $40 Mn (INR 338 crore). However, the startup didn’t disclose the name of the other investors who participated in the funding round.
Affle (India) will hold a 9.03% stake in the startup post the investment. Explurger said it would use the fresh capital to fuel its growth.
Founded by Sood and Jitin Bhatia in 2021, Explurger operates a social media app for travellers which creates a personalised travelogue for each user. The app uses gamification principles and claims to offer rewards to users for being active for long periods on it.
The startup claims to have over 8.5 Mn users across 75+ countries.
Commenting on the fundraise, Explurger CEO Bhatia said, “Affle is already a leading name known for its tech innovations and R&D, and with them as an investor, it validates our vision to build a future social media platform that goes beyond likes and shares and truly builds a globally connected community using the advancements of AI.”
Explurger counts the likes of India Discovery Fund, Jaipuria Family Office, Khimji Family Office, Action Group Family Office, and Kajaria Tiles Family Office among its investors.
The startup is targeting the fast-growing social media market in India, amid a renewed interest in the travel segment, to boost its user numbers. Besides giants like Meta and Snapchat, Explurger competes with homegrown startups like Slick.
Amid the growth in the Indian startup ecosystem, a number of Bollywood celebrities, including Sood, have turned entrepreneurs and investors over the last few years. Sood also founded job search platform Pravasirojgar in 2020.
