Women-centered digital media start-up, POPxo.com has raised $5.2 Million in funding from Neoplux Technology Fund and Oppo. Existing investors Media Summit, IDG Ventures India, and GREE Ventures also participated in the second round of funding.
The digital community platform was launched in 2014 and has over 14 million users. Around 80% of the subscribers to the platform are women between the ages of 18 to 34. More recently, the site has begun to offer the content on their website in Hindi as well in an attempt to further broaden their reach. In addition to publishing engaging content, the platform also has a ‘Shop’ feature that displays products from various e-commerce websites. The team at POPxo also launched a marketing influencer platform, Plixxo in July 2017. Plixxo has grown rapidly and now has a user base of over 23,000 influencers from various cities across the country.
POPxo was founded by Priyanka Gill who was an angel investor and writer for various publication houses in India and the United Kingdom. Her prior ventures include the fashion and lifestyle portal, Luxeva Ltd in the UK. Gill believes that this round of investment would further widen the scope of the audience that will consume their content.
Neoplux Director, Alex Noh said that Neoplux is interested in diversifying its reach across various countries and believe that their investment in POPxo will serve as a very lucrative opportunity for their company.
Oppo Investment Manager James Zheng stated that Oppo has been collaborating with POPxo for the past few years and the start-up is a key partner in their digital strategy in India.
Prior to the Series A funding, POPxo had raised Rs.3 Crore in funding, with one of the investors including Rajan Anandan from Google India.
The Series A funding saw the start-up raise $2 million in investments from Kalaari Capital and IDG Ventures.
In 2017, POPxo raised $2.7 million from Japanese firm GREE Ventures in their Series B funding.
According to Karan Mohla, a partner from IDG Ventures India, the platform is likely to have approximately 500 million video consumers by 2020. He believes that the platform would further accelerate leadership among female users in India.