Punjab News Network

$4.5 million in Series-A investment led by Affle is obtained by Explurger

<p>Explurger is a domestic social media network that makes traveling and recording experiences more enjoyable. This app, which was released by co-founders Sonu Sood and Jatin Bhatia, was a member of the MeitY Startup Hub’s Appscale Academy Class of 2022. Explurger intends to utilize the new funds obtained from this transaction for further expansion.</p>
<p><img decoding=”async” class=”alignnone wp-image-413241″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-4-5-million-in-series-a-investment-led-by-affle-is-obtained-by-explurger-download-.jpg” alt=”theindiaprint.com 4 5 million in series a investment led by affle is obtained by explurger download” width=”1079″ height=”812″ title=”$4.5 million in Series-A investment led by Affle is obtained by Explurger 27″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-4-5-million-in-series-a-investment-led-by-affle-is-obtained-by-explurger-download-.jpg 259w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-4-5-million-in-series-a-investment-led-by-affle-is-obtained-by-explurger-download–150×113.jpg 150w” sizes=”(max-width: 1079px) 100vw, 1079px” /></p>
<p>With a pre-money value of about $40 million (Rs 338 crore), social networking platform Explurger has secured $4.5 million (Rs 37.3 crore) in Series-A financing led by Affle (India) Limited.Affle (India) Limited would own a 9.03% (fully diluted) share in Explurger as a result of this transaction.</p>
<p>The founder and CEO of Explurger, Jitin Bhatia, commented on the investment, saying, “We’re excited to have Affle on our cap table as part of our Series-A capital round. With Affle as an investor, we are able to pursue our goal of creating a social media platform of the future that uses artificial intelligence (AI) to create a genuinely global community, going beyond likes and shares. Affle is already a well-known brand for their technological achievements and R&D. We are appreciative of the Affle team’s faith in us and eager for the next chapter in our development narrative.</p>
<p>Explurger is an AI-powered vertical consumer-tech social media network for traveler that was introduced in India in 2021 and is dubbed “gamified.” At now, the app has over 8.5 million users across 75 countries, and Google has included it in their list of “10 Most Innovative Apps Making Mark in India and Beyond.” To meet the unique demands of travelers and explorers, the smartphone for Android and iOS devices is equipped with features including an AI-enabled automated travelogue generator, a Rewards system, and a bucket list. By 2022,</p>
<p>Explurger was chosen to be a member of the Appscale Academy Class, a cohort of 100 Indian early- to mid-stage entrepreneurs, via the MeitY Startup Hub (a Google and MeitY initiative).<br />
With an estimated 8.4% projected contribution to the global GDP in 2023 (WTTC) and a projected 5.4% contribution to India’s GDP in 2023 (WTTC), the travel and tourism sector is expected to continue growing, with a projected 124% growth over the next ten years. Explurger wants to take advantage of this potential by drawing in the increasing number of Indian social media users and the traveler community that wants to record their experiences in the post-pandemic era.</p>