Indian creator commerce platform Social Swag raises USD 3.5 million in a Pre-Series A

Social Swag, an India-based online fan engagement platform that allows fans to interact with influencers and celebrities, has raised USD 3.5 Million in a Pre-Series A funding round co-led by IMEF and Unicorn India Ventures on 28 January 2022.

Investors: IMEF and Unicorn India Ventures co-led the latest funding round with participation from Vinay Agarwal, Ritesh Deshmukh, Raghu Subramanian, Edward Menezes, The Shekama Family Trust, The Blume Founders fund and other HNIs and angel investors.

The Objectives behind the funding: The company did not disclose how the funds would be utilised.

About Social Swag

Founded in 2020 by Mahesh Bhupathi, Akshay Kumar and Ramanaidu Daggubati, Social Swag is an online celebrity/ influencer commerce platform. The startup’s platform provides a marketplace for fans to connect with celebrities, bloggers, influencers through personalised video shout-outs and learning forums, enabling users to share videos and interact with influencers on social networks. Its platform enables interactions in multiple ways, such as live chats, shout-outs, masterclasses, virtual selfies, to name a few. Some of the celebrities and influencers on its platform include Akshay Kumar, Lara Dutta, Bhavish Aggarwal, Abhinav Bindra, Vicky Ratnani, and Avinash Gowarikar. The company has been growing 40% m-o-m for the last five months and is poised to continue this trajectory as the online story in India continues to generate exciting outcomes, it said in a statement.

What the Founder has to say:

“We are excited to welcome our new investors, and our focus will remain to create a platform where various people will find relevant content for themselves across different products. These would be a mix of entertainment, self-development, skill enhancement and passion content,” said Rana Daggubatti, accomplished Telugu actor and co-founder of Social Swag.

What the Investors have to say:

“As a fund, we strongly believe that the content creator economy is ripe for explosive growth. We have been tracking Social Swag for close to 6 months now and are very bullish on the moat they have been able to create vis-a-vis access to talent and building technology to make it accessible. We are excited to back them in their journey,” said Bhaskar Majumdar, managing partner at Unicorn India Ventures.

Parth Gandhi, who launched IMEF as an entertainment fund, says, “We are backing various entertainment opportunities in India, and with Social Swag’s offering across multiple products, we believe they will become an outlier in the space. That is why we chose them as our first investment.”

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