BENGALURU: Pseudonymous social network, Zorro has raised $3.2 million as a part of its seed funding round co-led by venture capital firms 3one4 Capital and 9Unicorn Ventures, the company said on Friday.
The round also saw the participation of several founders of ‘Unicorn’ startups, including Vijay Shekhar Sharma, Founder, Paytm; Ritesh Agarwal, Founder, OYO Rooms; Ashish Hemrajani, Founder, BookMyShow, Kunal Shah, Founder, Cred, and Ashneer Grover, Co-Founder, BharatPe etc.
According to the company, proceeds from the current round will be used to prepare Zorro’s technology team to accelerate its product development.
“A major issue in this day and age are paid tweets and even paid reviews. Zorro is a pseudonymous social network that is ring fenced and content moderates. It gives you a clean and authentic timeline that includes people in your network, sharing and consuming content freely. In addition, we are fortunate to have some great founders on board, who bring a wealth of experience to the table,” said Jasvir Singh, Co-Founder and Chief Executive, Zorro.
Early-stage venture capital firms including Eximius Ventures, Roots Ventures and Venture Catalyst also participated in the funding round.
“We are living in a maker economy and thus there is a growing need for a pseudonymous platform where you can be yourself. People with a pseudonym can control their reputation and exposure to unwanted social interactions and freely and This is a great opportunity and we have full confidence in the founding team of Zorro,” 3one4 Capital said in a statement.
The platform is currently allowing users to join a waiting list, and is not yet open to all users.
“There is always a risk of being trolled and targeted for the content you share. Hence there was a dire need for a pseudonymous platform where people could freely interact without any fear. This is a great opportunity for us to be a part of this innovative platform which we hope has the potential to tap into at least 10% of the total Indian population,” said Dr Apoorva Ranjan Sharma, Founder, 9Unicorns and VentureCatalysts .
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