Student-run startup Plutus has raised its pre-seed funding of $280K co- led by Campus Fund and other investors including CIIE – IIM Ahmedabad, Shruti and Alagu Preiyannan.
The proceeds will be deployed to build new tools to expand the monetisation potential for content creators and deepen partnerships with creators and fans, Plutus said in a press release.
Founded in June 2021 by Karata Dasmahapatra, Shivanshu Tyagi and Sambhav Jain, Plutus focuses on deepening interactions between creators and their fans through a mix of community games both live and hyper casual. Plutus is a platform with two-way flow of content via live rooms, group chats, creator led games, integrated payments and analytics.
According to Plutus, with a pay-as-you-go-structure, creators are able to earn more than subscriptions or workshops from their user base, and in some cases more than advertiser promotions. This is reflected in their increased repurchase rates, fan retention and earning of the creators.
Plutus aims to expand across India and SouthEast Asia and launch a new set of hyper-casual games and features. The startup claims to work with over 3,000 creators across India, along with a waitlist of more than 10,000 creators. It further sees a 35% month over month user base growth and an 86% Net Promoter Score (NPS).
Campus Fund is backed by investors include HDFC Bank, IIFL Wealth, and individuals such as Deep Kalra, Phanindra Sarna, Keisuke Honda among others.
