The start-up plans to utilise the funds in enhancing its AI capabilities and augmenting user acquisition efforts
Schmooze, a meme-based dating platform, raised $4mn in Series A funding round. Led by Elevation Capital, it also witnessed investment by angel investors such as the founders of Ultrahuman, The Souled Store, Mosaic Wellness and Paytm, according to a report by Inc42.
Founded by Vidya Madhavan and Abhinav Anurag in 2021, the start-up plans to utilise the funds in enhancing its artificial intelligence (AI) capabilities and augmenting user acquisition efforts. The fresh capital is also to be used in expanding content offerings and venturing into Tier-II and Tier-III cities, the news report states. Aiming to diversify beyond memes, Schmooze is working on new features such as Roast AI, which simulates interactions with a stand-up comedian, and Rant AI, a digital diary that reacts to user inputs.
Unlike dating platforms like Tinder and Bumble, Schmooze finds matches for its users based on their meme preferences and sense of humour.
Initially the dating app offered its services to US-based users. It is only in the last year that it started catering to Indian users. It claims to have more than 1.2mn downloads, more than 800mn meme interactions and 2 lakh successful dates.
Before this, Schmooze had raised $3.2mn in the Seed funding round held in 2022, which was led by Inventus Capital Partners, the data from Tracxn suggests.
Recently, investors have started showing their interest in dating platforms. Juleo, an AI-based dating app raised $2.5mn from more than 180 angel investors last month. Another dating start-up flutrr raised $240,000 in July from bollywood actress Huma Qureshi and other investors.