Tiger Global In Talks To Invest Up To $20 Million In Bengaluru-Based Startup Kutumb
Kutumb, a Bengaluru-based social media startup, is in talks with American investment firm Tiger Global to raise $15-20 Million in Series A funding.
If the deal finalises, it will value the seven-month-old community platform at around $170 Mn.
First reported by TechCrunch. Tiger Global has offered a term sheet to the Indian social media startup, but the deal has not been closed yet.
Started by Abhishek Kejriwal, Vipul Allawadhi, Naveen Dewangan, and Mohit Sharma in 2020, Kutumb is one of India’s largest community platform. Kutumb was part of the fourth cohort of Sequoia’s Surge acceleration programme.
Since its inception, Kutumb has witnessed huge traction, and as per app intelligence platform Sensor Tower, Kutumb recorded more than 3 Mn downloads in February 2021.
The app has 11 Mn+ monthly active users currently. Kutumb positions itself as a Reddit-like platform for Bharat users, preferably in the Hindi-speaking belt.
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