New age content platform Social swag raises 9.5 crores.

A content startup Social Swag backed by Mr. Akshay Kumar and many other artists raised around Rs. 9.5 crore in 2nd round of funding led by Firstport capital.

A financing round of 3.02 crores was led by Firstport capital and then it was followed by unicorn ventures who invested Rs. 1.72 crores. Feroza Jamshed Mody, Kate K Dinshaw, and Shekhama family trust invested 1 crore each in this Content startup. Moving on, the IPV advisors also participated in this round and invested a sum of Rs. 19 lakhs in this startup. The remaining sum was funded by 50 other investors.

Social swag has always been in the news because of its founders. This new-age content startup was launched in 2020 by Akshay Kumar and Rana Daggubatti.

The offerings of this startup are Masterclasses, shout-outs, live chats, and virtual selfies. This also enables consumers to connect with influencers, bloggers, and celebrities. The Major competitors of this Mumbai-based startup are Frontrow and Unlu.

The New-age startup had raised $3.5 million in pre-series A from Unicorn ventures, IMEF, and other individuals in January. The company is yet to file its financial numbers for FY22. Social swag booked Rs. 42 lakhs loss during FY21 as per the financial statement shared with ROC. 

Featured Image Credit: Social Swag

Apurv Panigrahi