AppX Raises $1.3 Million The funds will be utilized to help more creators monetize, roll out tokens and expand business internationally
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Delhi-based startup AppX has raised $1.3 million in a recent funding round led by Ycombinator, Global Founders Capital, Rocket Internet, Soma Capital, Shrug VC, Lenny Rachitsky, James Beshara and TDV Partners. The funds will be utilized to help more creators monetize, roll out tokens and expand business internationally.
Founded in January 2020 by Sameer Sadana and Anuj Gupta, AppX helps its creators monetize via their own personal mobile applications and websites, wherein creators can run their own online businesses such as e-books, courses, NFTs and e-commerce businesses. The company is currently targeting creators with over 10,000 followers on platforms like Instagram, Tiktok, YouTube, and more such social media outlets, said a statement.
"The creator economy space is a booming sector with market opportunity worth $100 billion. Creators and influencers regularly interact with their fans on social media and thus require a mobile-first storefront that could help provide premium offerings to their followers. To cater to this demand, we have built a SaaS platform that empowers these creators to see revenue streams beyond digital ads. We are delighted with the trust instilled in us and AppX's vision by our investors," said Sameer Sadana, founder and CEO of AppX.
"The creator economy has been rapidly growing with increasing digital penetration. We are delighted to partner with Appx and truly believe in their vision of creating products that help empower creators and influencers across the globe," said Don Stalter, partner at Global Founders Capital.
AppX enables and provides its creators to pursue their passion and generate revenue. Working with creators in domains such as edtech, fitness, gaming, and skill development, currently the company has a network of 3,000-plus creators who are using the AppX products to monetize their social media following, added the statement.
