We are pleased to announce that qoohoo raised $800K from a consortium of angel investors — Kunal Shah (founder of CRED), Kalyan Krishnamurthy (CEO of Flipkart), Pankaj Gupta (Director at Google Pay), Gaurav Munjal (founder of Unacademy), Sujeet Kumar (co-founder of Udaan), Kunal Bahl and Rohit Bansal (founders of Snapdeal), Utsav Somani (AngelList), Alvin Tse (country manager of Xiaomi Indonesia), and top creators such as Tanmay Bhat & Hugo Amsellem have invested in this round.
Vimal Singh Rathore, a second-time entrepreneur (previously founded Coursavy, acquired by Unacademy), and Aseem Gupta (Ex Razorpay, BITS CS’15), founded qoohoo back in 2020 to empower creators to launch their communities swiftly with immersive engagement and fast content creation. qoohoo is a social platform where creators can engage and monetize their communities.
On discussion with Mint, Vimal said that “qoohoo is targeting a large section of the creators’ economy. We want to set the right standards of community behavior and continuously enhance the product experience for users and creators. So we will gradually start opening it for the public with an ‘invite friends’ feature. Initially, we are not focusing on the scale; we want to get it right for the first 1000 creators and 100,000 users before the end of the year.”
“Art and creation denote freedom,” said Vimal to Yourstory. “I wanted to follow an unstructured approach for engagement between the creator and their audience, and eventually easy monetization for the creators. The difference between creator and user is getting blurred in this internet age. We want to leverage technology to build qoohoo as a passion ecosystem connecting the high intent user with their creator.
We are glad that several media channels have covered our fundraising news, including Economic Times, YourStory, Mint, and Money Control. The rise of COVID-19 has forced all businesses to be online, which has helped creators to reach beyond their geographical location. Social media like Instagram, YouTube, Medium, etc., have helped the creators expand their follower base, and now, it is the time to monetize it. Gaurav Munjal, founder of Unacademy, said:
“The creator space is close to his heart because he was 15 when he started blogging and then he became a creator on Quora and then on YouTube. In fact teaching on YouTube led to the start of Unacademy. So this whole space where passionate people are creating something and building their following for that space and helping them monetise better is something which is very close to my heart and that’s why I believe that Qoohoo is going to be big,” Gaurav said. “It’s a very mission-oriented team and I have known Vimal for a long period of time and know that he is a hustler, who will build a great product for this category.”
Utsav Somani, India partner, Angel list said-
“Qoohoo is set up to be a trailblazer in the new passion economy era that’s primed for growth as the virus has affected the livelihoods of many and forcing them to turn to online income streams. Owning relationships with your fans is a key aspect of this and Qoohoo will deliver on that front.”
Technology & Design is at the core at qoohoo; we will use this investment to strengthen our product team to chase our vision aggressively.