Explurger, the AI-powered social media platform designed for travelers, announced today the successful completion of its Series-A funding round, raising $4.5 million at a pre-money valuation of approximately $40 million. Affle (India) Limited led the funding round, acquiring a 9.03% stake (on a fully diluted basis) in Explurger. This significant investment comes as a testament to Explurger’s unique position in the market and its commitment to reshaping the landscape of social media.
Launched in 2021 by founders Jitin Bhatia and Sonu Sood, Explurger has quickly become a global phenomenon, attracting over 8.5 million users across 75+ countries. The platform stands out as the only “Gamified” AI-powered vertical consumer-tech social media platform for travelers, earning recognition from Google as one of the ’10 Most Innovative Apps Making Mark in India and Beyond.’
With an innovative AI-centered social media format, Explurger offers features such as Automatic Travelogue, Rewards, and Bucket List to cater to the specific needs of travelers and explorers. In a world where traditional social media platforms focus on likes and shares, Explurger aims to build a global connected community using advancements in AI technology.
The travel and tourism industry’s projected growth, with an expected contribution of about 8.4% to the Global GDP in 2023 (WTTC), aligns perfectly with Explurger’s niche premise. The company anticipates capitalizing on the renewed interest in the travel segment in the post-pandemic world.
Jitin Bhatia, Co-Founder & CEO of Explurger, expressed his enthusiasm about the partnership with Affle, stating, “We’re thrilled to welcome Affle on our cap table as part of the Series-A funding round. Affle is already a leading name known for their tech innovations and R&D, and with them as an investor, it validates our vision to build a social media platform of the future that goes beyond likes and shares.”
Sonu Sood, Co-Founder of Explurger, added, “The infusion of funds will further empower Explurger to enhance its offerings and continue revolutionizing the way travelers connect and share experiences.”
The funds raised in this round will be allocated towards scaling up future growth initiatives and fostering community development through the integration of newer technologies, including artificial intelligence.
Explurger previously raised $1 million in a pre-Series A round in 2021 from a group of investors, including LetsVenture, Lead Angels, Jaipuria Family Office, Khimji Family Office, India Discovery Fund, Action Group Family Office, Kajaria Tiles Family Office, and Dhampur Sugar Mills Family Office. Notable angel investors, including Piyush Jain and Lovkesh Arora, among others, have also contributed to the startup’s success.
As Explurger embarks on the next phase of its growth story, the company is grateful for the confidence shown by the team at Affle and remains dedicated to providing an unparalleled social media experience for travelers around the world.