Mugafi aims to build a library of over 200,000 characters in next 2 years

There has been a stereotypical image of a writer, who looks untidy, has no money, and is always hustling to get the next gig. Sadly, there might be truth to it - long before authors like Chetan Bhagat and Amish Tripathi got celebrity-like status, it was indeed difficult to find writing gigs and earn a living from it. 

But things are gradually changing, courtesy of the explosion of multiple content formats and media. With audiences’ appetite growing for quality and original content, there is an increasing demand for good writers. 

Mugafi, a Gurgaon-based startup, is looking to build a hub of content creators who can go on to contribute and make money as well. Founded in 2020 by Vipul Agrawal and Anurag Dalia, Mugafi helps creators leverage AI and human mentoring to build intellectual property. 

Focused on fiction content creation for now, Agrawal tells Entrackr, the company aims to build a library of more than 200,000 characters in the next two years. 

The secret sauce of Mugafi is the amalgamation of a cranked-up generative AI solution, which helps writers convert ideas into scripts and scripts into storyboards, with human mentoring through learning modules. 

The Open AI-based AI, called Ved, allows writers to create unique ideas and build characters and story ideas. One can use it to write a new story, screenplay, and novel. Another section allows users to write children's stories, which also features the ability to convert text to AI-generated visual comic books. 

The objective of the platform is to help creators generate new ideas, help with character development, optimize output, and better content distribution, Agrawal adds. 

Mugafi also runs fellowship partnerships with brands like KuKuFM, Spotify, and talent shows in partnerships with the likes of Smule. To date, the platform has helped train more than 2,400 writers. 

That being said, the business model of Mugafi is fairly simple - it makes money from selling the learning modules to aspiring creators. And then the content that the creators submit goes to its marketplace where production houses and distribution agencies secure their licenses. Mugafi takes a commission on these transactions. The company currently works with 20 production houses and distribution agencies. 

Since its inception, the company has also raised $1.5 million from investors like NexusVP, Auxano, TiE SoCal, Kunal Shah, Amarjit Batra, Ankush Gera, and Manish Agrawal. Agrawal did not disclose the company’s financials and future fundraising plans. 

The long-term objective of Mugafi is to become a key player in the Indian media and entertainment industry, which is expected to grow to up to $70 billion by 2030, courtesy of growth in OTT, gaming, animation, and VFX industries. One of the global names that may have similar offerings is Adimverse, which too provides resources to help create new characters and stories.