Women-centric pop culture website POPxo has raised $3.1 million in funding. The investment round was led by IDG Ventures India and Kalaari Capital with participation from Japan’s GREE Ventures, Summit Media (Philippines), Atul Goel and Gurpreet Singh. The company had raised $1.98 million from IDG Ventures and Kalaari Capital back in November 2015 and raised Rs 3 crore from multiple investors.
The company was founded by Priyanka Gill and Namrata Bostrom in late 2013 and launched in March last year. It now claims to have 9 million monthly users and said that 80% of its users are female in the 18-35 age bracket.
“We focus on leveraging our large user base to generate transactions – beginning with affiliate e-commerce, across categories. This fundraise will help us deliver on the faith our audience, brand partners and investors have shown in POPxo,” CEO Priyanka Gill said in a statement. It partners with consumer brands such as Hindustan Unilever, Puma, Whisper, Tanishq, OPPO, L’Oreal, Reliance and Amazon through native advertising and large-scale influencer activations.
Kaalari Capital’s media portfolio also includes ScoopWhoop and YourStory. In February 2017, YourStory also raised $3 million a fresh round of funding from Kalaari Capital and others. It also invested $4 million in media startup ScoopWhoop which focuses on content for youth. It also has some overlap with POPxo in terms of content produced.
In terms of competition, POPxo competes with BuzzFeed as well which also drives engagement through native ads. There’s also Miss Malini and the more mainstream Femina.