Delhi-based women-centric digital community, POPxo closes Series B round of funding at $3.1 million. The round was led by existing investors Kalaari Capital and IDG Ventures India Japan’s GREE Ventures, and Philippines’s Summit Media. The round also got the involvement of Atul Goel and Gurpreet Singh.
The company was founded by Priyanka Gill and Namrata Bostrom in late 2013 and was brought up in action in March last year. The platform provides a safe space for women to connect with each other. The company creates stories, videos and social media content about the things young Indian women care about. They also talk about everything from fashion and beauty to weddings and work.
Commenting on the investment, co-founder and CEO Priyanka Gill said:
We’ve built a brand that millions of women love and engage with. Our platform allows them to connect with other women. We focus on leveraging our user base to generate transactions – beginning with affiliate ecommerce, across categories. This fundraise will help us deliver on the faith our audience, brand partners, and investors have shown in POPxo
The company claims to have over 80 percent of their user base is made up of women and over 70 percent of their traffic comes from outside the top five cities. The team claims that users largely access the platform on both mobile web and the app. The company also claims to have attracted over nine million users every month.
The platform sees around 100 million monthly engagement and is currently tied up with over 150 brands. They also have branched into POPxo Video. As per an official statement, POPxo platform has seen 40% month-on-month growth in March 2017. The average user also spends about 160 minutes per month on the app, as per the same statement.
Commenting on the platform, Gurpreet Singh, Global VP at GWC, said:
POPxo has managed to grow their user base to an impressive scale. The vision for POPxo is to become the one platform where Indian women not only consume content but also interact with their peers and shop – this is a story we have seen play out really well in China
At present, the company claims to have appropriately 60 million Indian women on their platform. This number is expected to grow to 300 million by 2020. POPxo is in competition with players working in the domain of women such as MissMalini and Femina.