Pep Secures $2.5 Mn in Funding From India Quotient, Sets Eyes on Revolutionizing Content Accessibility
Pep, an online video streaming platform focussed on upskilling, has made headlines by raising $2.5 million (Rs 20.8 crore) in a seed funding round led by venture capital firm India Quotient.
The freshly raised funds are expected to drive the company’s mission of curating and democratizing content across various formats and categories, with the aim of making high-quality knowledge accessible and affordable for all.
Several angel investors, including Cred’s Kunal Shah; Vidit Aatrey and Sanjeev Barnwal of Meesho, and Fynd’s Farooq Adam, amongst others, also participated in the funding round.
Pep | Online Video Streaming Platform
Founded by Nav Agrawal and Swapnil Upadhyay in 2023, Pep is a social-first, mobile-centric platform that allows its users to explore, purchase, and monetize content and services across formats. These include (live, video, 1:1 consultation, pdf, audio, etc.) and categories (cooking & baking, DIY, fashion, devotional, health & fitness, personal finance and more) at affordable prices.
Speaking about the development, Nav Agrawal, Co-founder and CEO of Pep, stated that in the current world, people create and consume content around the clock.
Agrawal added,
“With GenAI becoming mainstream, it is bound to fuel the growth of content creation. At Pep, we are building a new-age content marketplace that is changing the way we consume or create content.”
As per the co-founder, with its mobile-only approach, Pep enables users to sell content in a few clicks, directly monetize their knowledge, and reduce dependency on conventional ad-based income. Agrawal claimed that the startup uses machine learning algorithms that enable consumers to discover and buy content at affordable prices.
Statement from the Investor
Commenting on the development, Madhukar Sinha, Partner of India Quotient, shared his enthusiasm about investing in Pep and said,
“Very excited to back Nav and Swapnil again to build the Amazon of Digital Goods and Services. With the fast-paced digitization of the world around us, we see a huge Total Addressable Market (TAM) waiting to be unlocked.”
This is the second stint by the founders together, as they both had previously founded the video-sharing application Clip in 2017. As for VC firm India Quotient, an investor in Pep, it focuses on early-stage startups and recently led a $3 million seed funding round of same-day delivery platform Blitz.
The VC firm has invested in several startups across categories and counts startups like edtech platform Masai, marketing automation platform WebEngage, lending platforms Lendingkart and LoanTap, and D2C brands like Giva and Sugar Cosmetics as part of its investment portfolio.
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