Pep, a mobile-centric online marketplace for content, has raised $2.5 million in its seed round from India Quotient and other marquee angel investors such as Vidit Aatrey and Sanjeev Barnwal from Meesho, Kunal Shah from CRED, Farooq Adam from Fynd. Parag Bhide, Sambhav Mehrotra, Sridhar Subramanian, Ravindra Yadav, and Sargun Gulati also participated in the round.
The proceeds will be used to focus on product development, ramp up user growth, branding initiatives, and hire more employees, Pep said in a press release.
Founded in early 2023 by IIT alumni Nav Agrawal and Swapnil Upadhyay, Pep offers a one-stop shop platform for users to avail live sessions, one-on-one consultations online, and buy PDFs, videos and audio.
It caters to a wide spectrum of user interests from cooking to DIY crafts and from fashion to health and fitness. Its app is currently live only on the Google Play Store app with plans to unveil the iOS app soon as well.
Launched by Anand Lunia and Madhukar Sinha in 2012, India Quotient’s first fund was $6 million in size while the next two had a corpus of $20 million and $60 million, respectively.
The firm launched its fourth fund worth $80 million in February 2021. in Its portfolio companies include WebEngage, Dhiwise, Vyapar, Pagarbook, Fleetx, Powerplay, Brands.live, and GoComet among others.