Olympic gold medallist Neeraj Chopra has warmed up to venture investing, following the footsteps of many celebrity sportspersons, by betting an undisclosed sum on influencer marketing platform One Impression.
A statement from the startup said Chopra invested in a “strategic round” which saw the company raise USD 1 million (about Rs 7.4 crore) from a clutch of investors, including Karandeep Anand (formerly with Meta), Varun Alagh of Mamaearth, Anupam Mittal of People Group and stand-up comedians Zakir Khan and Kanan Gill.
Known to pull off audacious feats in the sporting arena, many sportpersons have taken to the high-risk, high-return game of venture investing to grow their earnings. Shooter Abhinav Bindra, India’s first individual Olympic gold medallist, had set up a venture capital fund to invest in startups.
One Impression said it will deploy the funds to build product solutions for both brands and creators, accelerate hiring and scale operations both in India and key global markets.
The company, which claims to have an annual revenue rate of USD 7 million and is targeting to touch USD 35 million in 2022, will also be investing in creator growth and monetisation opportunities.
The company’s chief executive and co-founder Apaksh Gupta said it plans to grow 10 times after the investment. It is working with brands in India, US, UAE and Nepal at present.
“Our growth trajectory is a testament to our hard- work and has helped us establish the leadership position in the market. I am extremely thankful & excited to welcome all the investors who are now becoming part of our journey.
“Creator economy is booming globally and I have a strong conviction in the team’s and platform’s capability to become a leading global influencer marketing destination for millions of advertisers,” he said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
For all the latest Sports News Click Here
