Plutus raises seed funding from Andreessen Horowitz (a16z). Operating on a pay-as-you-go model, the platform offers live rooms, group chats, creator-led games, integrated payments, and analytics.
Horowitz (a16z) has made an undisclosed investment in Plutus, a social platform that caters to creators, as part of its seed round, the company announced on Saturday.
After placing a wager on cryptocurrency trading startup Coinswitch Kuber in October 2021, this is a16z’s second investment in India. In a preliminary seed funding complete led by the student-focused venture capital firm Campus Fund, Plutus raised $280,000 from investors including CIIE IIM Ahmedabad, Bluejeans founder Alagu Periyannan, co-founder of ApnaKlub Shruti.
The founder and CEO of Campus Fund, Richa Bajpai, told ET that while 98% of creators work on their craft as a side gig because it cannot produce the kind of revenue necessary to support a person’s life, just 2% of the most well-known creators earn extraordinary salaries.
She continued, “Plutus gives them an infrastructure that allows them to interact with their fans more effectively and, in the process, gamify it in a way that benefits both the creator and the fans.According to Bajpai, Plutus is currently in talks with a different significant venture capital firm for its upcoming Series A funding round. Details are anticipated to be released soon.
About Plutus
Plutus, which was founded in June 2021 by Sambhav Jain, Shivanshu Tyagi, and Karata Dasmahapatra, allows content creators and their fans to engage in casual and live community games. Operating on a pay-as-you-go model, the platform offers live rooms, group chats, creator-led games, integrated payments, and analytics.
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