Friday, March 31, 2023

Community monetisation and management platform Rigi raises Rs 100Cr led by Elevation Capital

Bengaluru-based community monetisation and management platform Rigi has raised Rs 100 crore in a new financing round led by Elevation Capital, with participation from existing investors Accel, Stellaris, and Sequoia.

The round also saw participation from angel investors, including Mahendra Singh Dhoni, Kunal Shah (Cred), Amit Agarwal (NoBroker), Chakradhar Gade (Country Delight), and Sharan Hegde, among others.

The startup plans to use the raised capital to expand into newer categories and other geographies. So far, It has raised a total of $25 million across three rounds of funding.

Swapnil Saurav and Ananya Singhal co-founded Rigi in 2021 after selling the fantasy sports platform HalaPlay to Nazara Technologies and Delta Corp in 2020. The startup said it offers tools including subscription management, paid workshops, live one-to-one classes, and integration with platforms like Telegram and WhatsApp.

The startup earns by charging a commission from content creators on the course fee. The courses include webinars—pre-recorded and live content—with 60% of the content on the platform being recorded, which is hosted on Rigi’s servers and is available to paying users.

It works with creators who have over 50,000 followers on Instagram or YouTube. Since its inception, Rigi claims to have helped over 10,000 creators across 30 categories.

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