The company plans to utilize the fresh funds to increase its product offerings to help more creators monetize, roll out their token as well as expand internationally.
To help enable creators to run their online businesses from their own storefront, Delhi-based startup AppX has announced that it raised USD$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 company plans to utilize the fresh funds to increase its product offerings to help more creators monetize, roll out their token as well as expand 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 ebooks, 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.
Commenting on the funding, Sameer Sadana, Founder and CEO, AppX, said, “The creator economy space is a booming sector with market opportunity worth $100B. Creators and influencers regularly interact with their fans on social media, and thus requiring 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.”
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 3000+ creators, that are using the AppX products to monetize their social media following. Creators and influencers have already earned over USD$10M till now using products created by 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 helps empower creators and influencers across the globe,” said Don Stalter, Partner at Global Founders Capital.
AppX is also planning to launch a platform where creators can launch their online businesses in less than 10 minutes.
Source: Business World