Sequoia-backed Social Community Platform Pankhuri Acquires Palash
Pankhuri, a Sequoia-backed social community platform, has acquired Palash, a platform dedicated to empowering Indian women, for an undisclosed amount. With this deal, the Sequoia-backed startup will integrate Palash’s user base, trainers, and technology infrastructure, enhance offerings, and further enrich its engagement with Indian women.
Additionally, as part of the deal, Palash will also be rebranded as the Pankhuri Community and launch the technology and the app for the combined user base and trainer.
Pankhuri | Social Live-streaming
Pankhuri is a social live-streaming and short video community for women. The startup provides an online platform for Indian women where they can network, learn, and shop through features like live streaming, interactive chat, and cohort-based sessions.
With the acquisition, the social community platform will be able to innovate and amplify its efforts, steering in a new era of possibilities for women across India. It also aims to garner 10 Lakh registered users and 2000 experts in the next 2 years.
Commenting on the development, Moksha Srivastava, CEO of Pankhuri, said,
“We believe that by combining the forces of Pankhuri and Palash, we can yield a more resourceful platform for connecting, engaging, and discovery.”
In July 2021, Pankhuri raised $3.2 million in funding led by Sequoia’s rapid scale-up programme Surge and other investors, including India Quotient and Taurus Ventures.
Palash | A Platform For Empowering Indian Women
Established by Pallavi Patil and Jaydeep Pawar, Palash is an innovative platform enabling women to learn new skills, connect within a vibrant community, and engage in micro-businesses or reselling. The platform is focused on personal growth, empowerment, and economic upliftment.
It claims to have garnered over 100,000 registered users and 200+ trainers. Additionally, the startup has an extensive library of video courses spanning 50,000 minutes.
Speaking about the acquisition by Pankhuri, Pallavi Patil, Co-Founder of Palash, said,
“This collaboration marks a momentous step in our journey towards women empowerment. The merger of Pankhuri and Palash signifies a commitment to uplift and nurture the potential of women across tier 2+ cities.’’
Earlier this year, Sequoia through its programme Surge, invested in Hatica, a software-as-a-service (SaaS) startup, Also, through Surge, Sequoia participated in the $11 million Series A funding round of logistics startup Locad and the $16 million Series A funding round of B2B wholesale platform Apnaklub.
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.