Interactive Media Platform Crater Raises $700k In Funding
Interactive media platform Crater.Club has raised $700,000 in seed funding from LC Nueva AIF, Director of TransContinental Venture Fund.
The startup has also raised funds from angel investors, including Prakash Mody, CEO of Unichem, Naresh Wadhwa, President Asia Pacific and Japan- Arista Networks and others.
As per the startup, the funds will be used towards further product development and growth of the platform.
Speaking on the development, Vignesh Prasad, Co-founder and CTO of Crater, said,
“On Crater, you can join live streams with creators and mentors, have curated interactions with peers and take part in live auctions. Our goal is to enable creators and mentors with distribution, engagement and monetisation. While 56 percent of creators create content in the entertainment and gaming sector, we are focusing on the other 44 percent that includes content created by stock traders, marketers, advisors and designers.”
Crater.Club | Live Stream Your Knowledge
Launched initially under the brand name of WorkNetwork, Crater.Club sees itself as Twitch meets Linkedin 2.0. The Bengaluru-based startup already claims to have over 5,000 creators and mentors that live stream their knowledge and skills.
Additionally, Crater will be launching a monetisation tool in the next few weeks.
Speaking about the platform, Vivan Puri, Co-founder and CEO of Crater, said,
“Clubhouse, Twitch, Tiktok, etc., have all democratised access to creators in the domains of gaming and entertainment. Furthermore, they have provided new ways to distribute and monetise content. But in the social-professional space, we are yet to see such a platform. On Crater, millennials can join live streams where creators and mentors share their knowledge and skills. They can meet peers via curated 1-on-1 interactions. And take part in live auctions to buy tickets that unlock exclusive access to the creators and mentors they follow.”
With the founding team of Crater comprising of Georgia Tech and NYU graduates, the interactive media platform is currently focused on the Indian market but plans to build for a global audience.
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