Startup Alive App announced it has raised $1 million from investment firms Powerhouse Ventures and Flipkart Ventures. Alive App is an AI-based platform in the experience technology sector, designed to develop and distribute new unique experiences in India. These funds will be directed towards accelerating the development of the experience economy in India, highlighting the growing interest in this segment. The investment will help Alive App expand its capabilities and enhance the services offered to users. The company plans to triple its revenue in the coming months and make the platform a go-to companion for weekend planning. Additionally, the company achieved its first profitable quarter in Bengaluru – its first and largest market. The investment from Flipkart Ventures also opens up opportunities for interaction with the Flipkart ecosystem.
Alive App focuses on creating a unique interaction experience for users, aligning with modern trends in the realm of experiences and emotional engagements. The platform operates in six cities: Bengaluru, Hyderabad, Mumbai, Chennai, Delhi, and Goa. It offers over 500 experiences in categories such as adventure, food, wellness, art, culture, and education. The community of creators has grown to more than 400 partners. Over the past six months, Alive App has expanded into the Mumbai, Chennai, and Delhi markets. The growth of offerings in new cities has been five times faster than in the initial expansion phase, and the company is currently adding around 100 new experiences each month. According to the platform, over 90% of bookings are for local experiences.
Powerhouse Ventures and Flipkart Ventures are recognized players in the venture capital market, supporting numerous startups across various fields, including technology and e-commerce.
Related articles
