Mumbai based celebrity-fan engagement startup TrueFan, has raised $4.3 million in seed funding by prominent investors like Ronnie Screwvala, Mayfield India, and Saama Capital.
A 6-month-old startup founded by Nimish Goel, Nevaid Aggarwal, and Devender Bindal in January 2020, TrueFan aspires to connect Indian fans with top celebrities through personalized, interactive experiences. The platform enables users to play simple quizzes around celebrities and the winners get a personalised video message from those stars.
"The celebrity-fan engagement market in India has huge growth potential. Tapping into this, TrueFan has successfully on-boarded some of the topmost celebrities with an innovative business model. Nimish and the founding team are young, purposeful and strongly business driven which clearly differentiates them from the pack." said Nikhil Khattau, Managing Director at Mayfield India
Talking about his inspiration behind the platform Nimish Goel, Co-Founder & CEO, TrueFan said “Indians harbour unconditional love towards celebrities. Being a fan myself, my personal experience of gate-crashing a wedding to meet my dream idol, Virat Kohli holds testament to this. We aspire to fulfill lifelong dreams of millions of Indian fans and get them closer to their idols.” Further talking about the key value proposition of the product he added “We’ve built this product from a generic Indian consumer lens where people like you and me dream of interacting with superstars. We want to make this dream possible but at a price range that’s equivalent to a cup of coffee.”
TrueFan caters to the everyday Indian audience who’ve grown up enacting dialogues from Bollywood movies, copied hairdos of their beloved ‘heroes’ & ‘heroines’ or turned into bathroom-singers with their favourite love songs. It allows these very ‘true fans’ to interact with their superstars.
"When Nimish approached me on TrueFan, three things struck me: firstly, any product driven by technology is going to soar in the 2020 decade. Secondly, this is the perfect blend of gamification meets media meets content. Thirdly, the simplicity of the idea allows the product to seep through the wide, Indian user-base. For me, it is ideas like these that will really stay the course." said Ronnie Screwvala
"We’re excited to back TrueFan’s vision to fulfill the aspiration of millions of Indian fans to interact with their favorite celebrities. We strongly believe in Nimish’s passion and the team’s ability to build a product that can help bring this vision to life.” said Ash Lilani, Managing Partner at Saama Capital.