Digital entertainment content platform MissMalini has raised $1.4 million in a pre-Series A led by Orios Venture Partners and New Enterprise Associates.
The latest funding round comes after six years when the firm last raised angel funding from Google’s Rajan Anandan.
With the newly raised funds, MissMalini plans to expand its content, technology, analytics and sales operations. Besides, the company also plans to set up a video production unit to support the launch of vernacular content.
“Digital entertainment is a booming industry, riding on the back of a large emerging market. Within this, MissMalini has established itself as a content platform that is already monetising along with content driven by a personality. That differentiates it from some of the other offerings in the space and puts it in a stronger position,” said Rehan Yar Khan, managing partner at Orios Venture Partners.
Started in 2008 as an entertainment blog, Malini Agarwal has leveraged the increased social media adoption by millennials, and build MissMalini as a leading entertainment content distribution platform.
The firm creates different styles of millennial-focused lifestyle and entertainment content for various social platforms including Facebook, Twitter, and Instagram. It also covers audio podcasts like those on music streaming platform Saavn. MissMalini has also produced five seasons of TV-based content shows since 2014.
In the last 10 years, MissMalini has seen significant growth. The firm claims to have over 10 million unique monthly followers across platforms, with some of the channels giving it an outreach of almost 40 million a month. The company stated that its revenue is expected to grow by 2-3 times in FY19 and a significant growth in its user base as well.
Commenting on the funding “This round of funding is an important step in expanding our focus from major metros and deeper into Tier-I and Tier-II markets, helping us build lasting and meaningful communities of engaged young Indians,” founder Malini Agarwal said. “This pre-Series A funding comes at just the right time, as we continue experimenting with exciting new content formats to attract new audiences.”
MissMalini currently offers content Bollywood, Fashion, Beauty and Lifestyle categories. It competes with a like of Filter Copy, POPxo, Little Black Book, Buzzfeed India, ScoopWhoop, and TVF.