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Sequoia Capital | Pankhuri: Social group platform Pankhuri lands $3.2 million from Sequoia’s Surge, others – NewsEverything Know-how

Pankhuri, a social group platform for ladies on Tuesday introduced a $3.2 million in funding led by Surge, a fast scale-up program by Sequoia Capital India for startups in India and Southeast Asia, alongside India Quotient and Taurus Ventures.
Pankhuri is a platform for ladies in India to community, study and store by dwell streaming, chat, and cohort-based classes, enabling them to be lively individuals in magnificence and life-style conversations on-line as a substitute of being passive customers.

Whereas there are over 240 million digitally linked ladies in India, solely 27% of social media customers in India are ladies, the corporate stated in an announcement.

“Pankhuri was created with the ambition to interrupt down these boundaries going through hundreds of thousands of girls in India, enhancing their digital literacy and empowering them to regain their proper to expression. In constructing this inclusive on-line group, we wish to present them with a secure house to fulfil their aspirations, discover, get solutions and interact with specialists and creators for all issues magnificence and life-style associated,” stated Pankhuri CEO and founder Pankhuri Shrivastava.
Extra Indian ladies are additionally going on the web for the primary time, with the nation including 15-20 million new customers each month. This has led to an increase in feminine digital customers who are actually accessing content material and shopping for merchandise on-line. This digital affect has change into a game-changer for India’s $18 billion magnificence market as ladies are changing conventional methods of discovery (print and TV adverts) with social media and creator-driven discovery of merchandise.

Pankhuri was based in 2019 by Shrivastava who had beforehand co-founded residence rental startup Grabhouse that was acquired by Quikr in 2016.

Pankhuri’s platform at present supplies customers with data on subjects similar to magnificence and private care by numerous video codecs together with dwell and brief movies, and encourages ongoing dialog with skilled creators by hosted dwell classes. It has a group of over 250,000 lively ladies of which greater than 60% have transacted through micropayments on the platform since January 2021.

“Magnificence services are one of many first excessive involvement verticals which can get disrupted. The traits of the vertical – excessive AOV, very sticky customers and curiosity for newer merchandise and traits make excessive engagement, creator-driven social commerce a promising alternative. The great traction and love from ladies for creator-driven content material is increase a thriving and sticky group on Pankhuri. I’m eagerly taking a look at this quick evolution of product and group and it appears not very totally different from magic,” stated Madhukar Sinha, Founding Companion, India Quotient.

Pankhuri is backed by India Quotient, Taurus Ventures and angel buyers Farid Ahsan, Krishnan Menon, Kunal Shah, Sai Srinivas and Sweta Rau.

The startup is a part of Surge’s fifth cohort of 23 firms which have developed new digital options to assist firms and people work, dwell and study higher in a quickly evolving post-pandemic world.

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