We Founder Circle, a founder-driven angel network, has invested an undisclosed amount in a US-based content community platform, Commaful in its Seed-funding round, the early-stage startup investor said in a statement on Monday.
N K Securities and angel investors, including Hitesh Dhawan, Founder, Neuronimbus, Gaurav Juneja, Chief Executive Officer, Ruchi Twisters and Siddharth Shah, Managing Director Rajesh Motors, also participated in the funding round, We Founder Circle said.
Commaful will use the funds to build, maintain and scale the technology infrastructure that enhances the experiences of the community. The company will also focus on activities related to scaling operations, building the brand and creating a community with creative campaigns, We Founder Circle said.
“Storytelling is a deeply human experience, as old as humankind. Commaful today already has a global audience and we've been amazed by the incredible stories that have been shared by Indian creators,” said Sydney Liu, Co-founder, Commaful.
Commaful, founded by Liu and Ryan Choi, counts content creation and consumption platforms like Episodes, Wattpad and Substack among others as its competitors. We Founder Circle expects the content creator ecosystem to be worth nearly $10 billion.
“Community building has been a key driver for any industry business growth. Considering how digitisation has taken place in the last decade, content has played a vital role. Building a community in content with innovation will give more avenues to people to share stories to inspire the community,” said Neeraj Tyagi, Co-founder, Chief Executive Officer, We Founder Circle.
“Being a community first approach investment platform, We Founder Circle is glad to be supporting the startup and can see its growth trajectory already,” Tyagi said.
Founded in 2020, Mumbai-based We Founder Circle is a global community of founders and angels that help early-stage startups. It claims to invest around $50000- $150000 (around Rs 37 lakh- Rs 1 crore) in early-stage startups.
In November, We Circle Founder applied for its first fund with the Securities and Exchange Board of India (Sebi) that seeks to raise Rs 200 crore (around $27 million).
“Moving forward We Founder Circle is committed to invest in content focused start-ups,” said Bhawna Bhatnagar, Co-founder, We Founder Circle.
In November, Lucknow-based local content production platform, Knocksense Media Services Pvt Ltd, had raised a $150,000 bridge round from We Founder Circle. The angel investor platform has also invested fintech and electric vehicle startups. Recently, We Founder Circle, along with others, invested in Settl, a managed accommodation provider.