Crater raises $700k in seed funding

crater funding

Crater, an interactive media platform, announced that it has raised $700,000 in a seed round from LC Nueva AIF, Director of TransContinental Venture Fund, as well as angel investors including Prakash Mody, CEO of Unichem, Naresh Wadhwa, President Asia Pacific, and Japan- Arista Networks and others.

The Bengaluru-based startup plans to use the freshly raised funds towards further product development and growth of the platform.

Speaking about the funding, Vignesh Prasad, Co-founder, and CTO of Crater said, “On Crater, you can join live streams with creators and mentors, have curated interactions with peers, and take part in live auctions. Our goal is to enable creators and mentors with distribution, engagement, and monetization. While 56 percent of creators create content in the entertainment and gaming sector, we are focusing on the other 44 percent that includes content created by stock traders, marketers, advisors, and designers.”

Vivan Puri, Co-founder, and CEO of Crater added, “Clubhouse, Twitch, Tiktok, etc, have all democratized access to creators in the domains of gaming and entertainment. Furthermore, they have provided new ways to distribute and monetize content. But in the social-professional space, we are yet to see such a platform. On Crater, millennials can join live streams, where creators and mentors share their knowledge and skills. They can meet peers via curated 1-on-1 interactions. And take part in live auctions to buy tickets that unlock exclusive access to the creators and mentors they follow.”

The founding team of Crater includes Georgia Tech and NYU graduates. Crater’s team members have earlier worked at HealthifyMe, Piggy, Tilt (Airbnb). Currently, the startup is focused on the Indian market but intends to create for a global audience.

Commenting on the investment, Jayendra Shah, Director of TCVF, said, “More people will seek to connect with others and will seek out exclusive content. At the same time, we will see the rise of more independent creators and people creating informational content. Consequently, making Crater the need of the hour. We are super excited to be one of the early investors in Crater and support Vivan, Vignesh, and the rest of the team in building a social-professional network with creators and mentors, front and center.”

Crater seems to have established a strong presence in the market with its innovative solutions. I’m sure the company will continue to reach new pinnacles of success in its journey ahead. My best wishes to the team of Crater.

Shishir Gupta, Founder and CEO, StartupLanes

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