Lucknow-based local content production platform, Knocksense Media Services Pvt Ltd, has raised a $150,000 bridge round from We Founder Circle. Other investors who participated in this round include Appyhigh (lead investor), Mumbai Angels Network and angel investors from LetsVenture.
The company aims to utilise funds in the tech development of the platform KnockOFF, and in expansion across new cities targeted to be achieved within this financial year. It aims to produce content including recommendations, videos, features, and more.
“With the launch of KnockOFF in August, we have seen tremendous growth on all the grounds- the transactions via the platform, reach, GMV, and subscriptions have grown by more than 100% month-on-month. This additional infusion from existing investors will enable us to launch our products in new cities and expand at a fast pace,” said Vibhore Mayank, founder, Knocksense.
“Hyperlocal content is rapidly gaining prominence, in addition to that a platform like KnockOFF, which enables value creating and transactions has immense potential with social e-commerce”, said Neeraj Tyagi, co-founder & CEO, We Founder Circle.
Prior to this, We Founder Circle applied for its first fund with the Securities and Exchange Board of India (Sebi). With this, it seeks to raise Rs 200 crore (around $27 million).
Founded by Vibhore Mayank and Varul Mayank, the hyperlocal content platform recently launched its flagship product KnockOFF, which helps establish a connection between local brands, freelancers and consumers, thereby creating a content-driven community that enables transactions at the city level.
Earlier this year, Knocksense raised around $200,000 (Rs 1.46 crore), led by angel investor Mohit Satyanand’s syndicate LetsVenture, and We Founder Circle.
According to the statement, Knocksense raised a total of $ 0.5 million since inception, and currently has over 20 million monthly impressions on the platform.