Akshay Kumar & Rana Daggubati Led Social Swag Raises $3.5 Million In Pre Series A Round ( Photo Credit – Instagram )
As Akshay Kumar is currently busy with his multiple Bollywood projects, his influencer-based online marketplace, Social Swag in partnership with south superstar Rana Daggubati has announced raising $3.5 million (approx Rs 26 Crores) in a Pre-Series A funding round led by IMEF and Unicorn India Ventures. It was led by IMEF and Unicorn India Ventures, which has made its maiden announcement on the platform
As per their official website, the platform enables consumers to connect with – celebrities, influencers, bloggers and other inspirational individuals, through personal interactions and learning forums and it also enables interactions via, master class, live chats, virtual selfies to name a few.
Social Swag was founded in the year 2020 as the brainchild of Akshay Kumar, Rana Daggubati and Mahesh Bhupathi. Reportedly, the platform claims it has been growing at a 40% month-on-month rate for the last five months.
Other than Akshay Kumar, Rana Daggubati and Mahesh Bhupathi, celebrities and influencers such as Lara Dutta, Abhinav Bindra, Bhavish Aggarwal, Vicky Ratnani, Avinash Gowarikar are also part of Social Swag.
As quoted by Inc24, Bhaskar Majumdar, managing partner at Unicorn India Ventures said, "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 6 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. We are excited to back them in their journey."
Earlier talking about Social Swag, PTI had quoted Rana Daggubati saying, "We are excited to welcome our new investors and 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."
While Akshay Kumar said, "I have seen so many opportunities in the digital domain this year and I believe being able to connect with fans through this platform with some of our products like my masterclass or a virtual selfie will give not only me but all my peers an additional opportunity to closely connect with fans in these changing times."
