Rigi, a platform for content creators to monetise their communities, raised $12.5 million in funds led by venture capital firm Elevation Capital where Accel, Stellaris, Sequoia Capital, and angel investors such as former Indian cricketer Mahendra Singh Dhoni, CRED’s Kunal Shah, NoBroker’s Amit Kumar Agarwal, Country Delight’s Chakradhar Gade, social media influencer Sharan Hegde, among others also participated.
Rigi supports celebrities, influencers, and creators in building, managing, and monetizing their communities. It provides a range of services to creators of knowledge-based content, including subscription-management tools for monetizing via Telegram and WhatsApp. Additionally, the platform enables creators to charge for private lessons, offer recorded courses, and host live webinars for their audience. The additional funding will be used by Rigi to develop tools for new types of content creators. The startup will also use the funding to expand to newer international regions after just entering Indonesia. The market for content creation in India was estimated to be worth $13.4 billion in 2022 and is projected to increase to $47.2 billion by 2032, growing at a CAGR of 12.2%.
