Creator economy platform AppX said it has raised $1.3 million (around Rs 9 crore) in a funding led by Ycombinator.
The round also saw participation from Global Founders Capital, Rocket Internet, Soma Capital, Shrug VC, Lenny Rachitsky, James Beshara and TDV Partners.
AppX plans to use the fresh funds to strengthen its product offerings so as to extend monetary support to more creators and also for token roll outs.
The startup set up by Sameer Sadana and Anuj Gupta in January 2020, offers financial aid to its creators so that they can establish their own online business.
AppX is currently eyeing for creators with over 10,000 followers across social media platforms including Instagram, Tiktok and Youtube, among others.
“The creator economy space is a booming sector with market opportunity worth $100 billion. Creators and influencers regularly interact with their fans on social media and thus requiring a mobile-first storefront that could help provide premium offerings to their followers. To cater to this demand, we have built a SaaS platform that empowers these creators to see revenue streams beyond digital ads," said Sameer Sadana, Co-Founder of AppX.
The company said that the creators and influencers have already earned over $10 million (around Rs 74 crore) using the AppX-built products. It also mulls to build a platform where online business can be set up in less than 10 minutes.
Education planning company EduFund said it has bagged $1 million (around Rs 7 crore) in a seed funding led by Anchorage Capital Partners. The round also saw additional investments from ViewTrade Holding - Corp and other angel investors.
The company will be deploying the fresh capital to boost its product offerings as well as for market expansion.
Launched in June 2020 by Eela Dubey and Arindam Sengupta, EduFund offers personalised investment options on a child's goals and risk profiles of parents.
The tech-based app helps parents and students to connect counsellors worldwide for guidance on universities, courses and other essential details.
EduFund is backed by angel investors that include Indian high-net-worth individuals and American institutional investors.
According to the company statement, it has entered into multiple counsellor partnerships, which includes OnCourse Global, Zsoldos Coaching, Reva Education Consultant, and Overseas Education Consultancy.