Kofluence raises $4Mn fundraise led by Nikhil Kamath’s Zerodha

Influencer marketing platform Kofluence has raised USD 4 million in funding led by discount brokerage Zerodha’s Co-Founder Nikhil Kamath.

Kunal Shah of fintech Cred, filmmaker Karan Johar, Dharma Productions’ Apoorva Mehta, Udaan’s Sujeet Kumar, microblogging site Koo’s Aprameya Radhakrishna and venture capital fund Upsparks were among other investors who participated in the round.

The Bengaluru-based company plans to use the fresh funds to further develop its proprietary platform, accelerating hiring across multiple geographies and scaling up for expansion.

Nikhil Kamath said, “Content creators have long been relied on to capture eyeballs through free user-generated content. But the lack of monetization tools left a gap, with creators not having the necessary help or infrastructure to make a sustainable living out of their content or creativity. With Kofluence expanding its product suite to encompass creation and monetization tools, creators on the platform will have varied monetization avenues to explore.”

Kofluence works with brands like Jubilant FoodWorks (Domino’s, ChefBoss), MPL, Dunzo, Games24X7, Sugar Cosmetics, Flipkart, PharmaEasy, Dhani, CoinDCX, Zoomcar, BharatPe and Xiaomi India, among others.

Sreeram Reddy Vanga, Founder-Investor, Kofluence, said, “With influencer marketing spends projected to skyrocket to a whopping $25 billion by 2025, we are confident that the booming creator economy will equip us to scale up our business model and build a self-serve and assisted SaaS platform to become the go-to martech destination for both brands and creators.”