Content sharing startup YourQuote secures $1 Mn from IDG Ventures, others

Delhi-based YourQuote, an original content and digital community startup has raised $1 million in seed funding round led by IDG Ventures India. The funding round also saw participation from Atul Goel of the Essel City Group, and Axilor Ventures, founded by Infosys co-founders Kris Gopalakrishnan and S D Shibhulal.

Available on iOS and Android platform, YourQuote was also a part of Axilor’s 100-day accelerator program, as part of its Summer ‘17 batch.

The Vernacular and video original content platform will use the seed capital to enhance the overall product and growth, expand the video platform, and scaling the community across India.

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Incorporated by Harsh Snehanshu and Ashish Singh in early 2017, YourQuote has an overall user base of over 500,000 users from across India. It allows users to create and share short quotes or text in English and 15 other languages. With over 4.5 million posts (original video and written content), the platform has seen a monthly growth of 20-30 per cent.

“If you look at the content sharing platforms available, most of them are web-first like BlogSpot, WordPress and others. And it’s not really made for creating content for mobile users, and that’s the problem we are trying to solve. It’s too difficult to compose and create content on mobile using platforms that are tailored for web. So we started off this platform a year ago, with a mobile-first approach,” said Harsh Snehanshu, Co-Founder & CEO.

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The company, which plans to monetize using native advertising will launch a new video creation and sharing feature on the app by end of December. It will allow users to create and share short one-minute videos within the app.

Last week, Bengaluru-based digital media video startup Clip raised $6 million in its series A funding round led by Matrix Partners India.

The development was first reported by Mint.

YourQuote: Website