Bluegape, a Gurgaon based visual blogging platform has raised $600,000 from ah! Ventures, Rudy Gopalakrishnan of Fidelity and Times Internet.
Barclays Capital India has been advising Bluegape & helping in getting connected with right investors. The deal has been closed on ah! ventures’ equity investment platform, CLUBah.com.
Ayush Varshney, Co-Founder & CTO, said,
“We will use the money on technology and for expanding our engineering team. The existing investors have lead the round which is a very good sign that we are on the right track.”
The startup was founded in year 2011, by Sahil Baghla and Ayush Varshney, the IIT-Kanpur alumni as an eCommerce portal, but pivoted to a blogging platform in January 2015.
Earlier this year, the company raised $184,000 in April 2015 from Rudy Gopalakrishnan and ah! Ventures. It is backed by TLabs and has received a total funding of $1.1 million till date.
Bluegape is gives users a platform to create and consume content in a visual format. Currently it claims to have over 15 million+ unique visitors every month and around 100,000+ posts are getting created on the platform every month.
Among the other media sites, YourStory has recently secured funding from Ratan Tata, former Infosys board member T V Mohandas Pai, Vani Kola managing director of Kalaari Capital and Karthee Madasamy, managing director of Qualcomm Ventures India. The other players in this field are VCCircle which was acquired by News Corp in March. News In Shorts raised an investment of $20 million from Tiger Global in Series B funding. Last year, ScoopWhoop a social content website raised Rs 10 crores from Bharti Softbank.