Gurugram-based social media startup Roposo has raised around INR 12 crores ($1.7 million), in a fresh funding round from Bertelsmann India Investments, as per a VCCircle Report. The latest funding will value Roposo at INR 174 crores (around $25 million) which is lower than the post-money valuation of INR 478 crores in April 2016.
However, neither Roposo nor Bertelsmann has confirmed the reports. VCCircle’s sources suggest that the latest fundraising is part of a larger series C funding round, which is expected to be closed in the next few months.
With the latest development, Rohit Sood, the Principle at Bertelsmann India will join the board of the startup. Before resigning in June this year, Pankaj Makkar, represented Bertelsmann on the board of Roposo, according to the company’s RoC filings.
Founded by three IIT Delhi alumni, Mayank Bhangadia, Kaushal Shubhank and Avinash Saxena in 2013, the startup provides a social media platform which enables its users to express themselves by creating videos and images with the help of its editing tools. The platform is available in 9 Indian languages. On the business end, it provides a platform to 12,000 sellers to reach more than seven million buyers.
Some of the startups catering to the growing market in this segment include Clipp App, Samosa Labs and ShareChat among many others. ShareChat raised INR 720 crores from Shunwei Capital in September this year. While Samosa Labs has raised INR 48 crores from Xiaomi and Sequoia Capital in August this year.