Content monetization platform ConsCent has raised $1.75 million in a funding round led by Inflection Point Ventures according to the company.
Early-stage funds Varanium Capital, RiSo Capital, SucSEED Innovation Fund, Sigurd Ventures, AngelList, PitchRight Ventures, and angels like Vijay Sivaram, former Rivigo Co-founder Gazal Kalra, etc also participated in the round.
This is ConsCent’s second funding round since its seed round in August 2020 from AngelList, WhiteBoard Capital, PitchRight Ventures; and marquee angels like Paytm’s Vijay Shekhar Sharma, Innov8’s Ritesh Malik, Droom’s Sandeep Agarwal, BharatPe’s Suhail Sameer, and Mamaearth’s Varun Alagh.
The company plans to use the fund for hiring technology talents, expanding the sales and marketing team and investing in artificial intelligence (AI) and machine learning (ML) tools for developing in-house technology for content monetization.
The startup at present provides technology to India Today Group (India Today, Cosmopolitan, and Business Today), Outlook India Group (Outlook India and Outlook Business), MidDay, Indian Retailer, Amar Ujala, Udayavani, Amar Chitra Katha, EPIC On, Tinkle Comics, and New Indian Express.
ConsCent claims to have acquired 500,000users.
The next six months will be critical for ConsCent as the venture eyes expanding operations beyond India and deepening its penetration into the Indian subcontinent according to the company CEO Sunny Sen.
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