Roposo is a social platform where people express visually with homemade videos and photos.
Bengaluru, 12 Dec, 2018. RedNewswire/-
Short video platform Roposo has raised $10 Mn in a funding round from existing investors Tiger Global Management and Bertelsmann India Investments.
Including this round, Roposo has raised a total of $31 million to date. The social media platform is also backed by Flipkart co-founder Binny Bansal and venture capital firm India Quotient.
The raised funds will be used to build its product technology and acquire talent, the startup is also looking to expand its community of users.
The startup is looking to secure another $100 million from investors. Roposo will see a completely new capitalisation table, albeit with the same set of investors being issued fresh shares, said Roposo’s founder Mayank Bhangadia in a statement.
While short videos would take the biggest share in entertainment, regular people will become much bigger stars than television and film celebrities and will contribute increasingly to entertainment by creating short videos, Bhangadia added.
Rohit Sood, principal at Bertelsmann, will join Roposo’s board as a part of the deal.
Rohit Sood said, “The company has scaled explosively over the past year but we are most excited about the management’s focus on the quality of user engagement on the platform. We are confident that Roposo will soon be the leading video creation and consumption app for Bharath.”
The platform’s daily active user base has grown more than 75 times and it has a community of 25 million individuals currently.
Roposo offers a TV-like interface that allows users to watch videos and pictures across 24 channels.
The application is available in regional languages including Punjabi, Gujarati, Tamil, Bengali and Hindi. It earns from the advertisements put up on its platform by companies and pays content creators according to the number of views.
Roposo has extensive plans to enter the micro markets of India and build resources for an aggressive game in the coming months.