Content platform Social Swag, backed by Akshay Kumar, Rana Daggubati Collective Artists and Mahesh Bhupathi, has raised $3.5 million in its Pre-Series A round. The round is co-led by IMEF and Unicorn India Ventures. Moreover, HNIs such as Vinay Agarwal, Ritesh Deshmukh, Raghu Subramanian, Edward Menezes also participated in the round along with The Shekama Family Trust and The Blume Founders Fund.
“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,” Rana Daggubatti, co-founder, Social Swag, said.
Social Swag is working on building a celebrity or influencer commerce platform. It claims to have grown at a 40% month-on-month rate for the last five months. It has multiple verticals of its offering including masterclasses, live learning and personal shoutouts, among others. The company runs on a subscription model giving unlimited access to the curated content on the platform.
“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 six 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,” Bhaskar Majumdar, managing partner, Unicorn India Ventures, said.
Parth Gandhi, who launched IMEF as an entertainment fund says, is optimistic that Social Swag will become an outlier in the entertainment sector with its offering across multiple verticals. That is why IMEF chose them as its first investment, Gandhi pointed out.