Home Social networking daily summary (January 29, 2022)

daily summary (January 29, 2022)

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Fluid Ventures will invest Rs 25 crore in early-stage D2C startups in 2022

Fluid Ventures, a micro-venture venture capital fund, said it would invest Rs 25 crore (about $3.3 million) in early-stage Direct-to-Consumer (D2C) startups that are seeing growth. sales over Rs 50 lakh per month.

The fund has already invested in three brands since its launch six months ago, including Jaipur-based online fabric retailer Fabriclore; Shumee Toys, a Bengaluru-based sustainable toy brand, and Wallmantra, a Delhi-NCR-based furniture company.

Before March 2022, Fluid Ventures will invest in four companies, with a note size of up to Rs 2 crore as a first check and participation in subsequent rounds with additional capital.

“The fund’s mission is to invest in visionary entrepreneurs building leading, world-class consumer brands,” said Amit Singal, General Partner of Fluid Ventures.

Taaran Chanana and Kyle Fernandes, co-founders of MemeChat

MemeChat raises over $1 million in its second round of funding

Social networking app MemeChat has secured over $1 million in its second round of funding led by Beenext, a Singapore-based venture capital firm.

Angel investors including Stanford Angels & Entrepreneurs, 9unicorns, Founders Room Capital, Gaurav Munjal, Roman Saini and Abhishek Goyal also participated in the round.

Launched in 2019 by Kyle Fernandes, MemeChat is a social networking app for Gen Z and Millennials and has over five million downloads. The startup connects brands and creators on the platform, with users creating new memes.

Kyle Fernandes, Co-Founder and CEO of MemeChat, said, “In just over two years, MemeChat has seen exponential growth and unwavering faith from a strong investor base. »

“As a company, we will continue to focus on building a greater creator economy, innovating our product portfolio, strategically leveraging brand partnerships, and much more,” he said. -he adds.