Lucknow-based local content production platform, Knocksense has raised $150,000 in a bridge round from We Founder Circle. Other investors to participate in the funding round include Appyhigh (lead investor), Mumbai Angels Network and angel investors from LetsVenture.
The platform strategies to utilise the raised funds in tech development of its flagship product KnockOFF, and expand across new cities targeted to be achieved within the fiscal. It also plans to produce captivating content including recommendations, videos, features, and more.
With the current funding, the total amount of funds raised by Knocksense since its inception is equal to $0.5 million. Knocksense currently has 20+million impressions on the platform.
Started by Vibhore Mayank and Varul Mayank, the content-based platform recently launched its flagship product KnockOFF, which helps in establishing connections between local brands, freelancers and consumers, thus creating a content-driven community that allows transactions at the city level.
On the investment Neeraj Tyagi, Co-founder and CEO, We Founder Circle, said, “We are really happy to see the growth achieved by the Knocksense team. Hyperlocal content is rapidly gaining prominence, in addition to that a platform like KnockOFF, which enables value-creating and transactions has immense potential with social e-commerce. I am sure this fundraising is going to be a turning point in the growth of the company”
“With the launch of KnockOFF in August we have seen tremendous growth on all the grounds- the transactions via the platform, reach, GMV and subscriptions have grown by more than 100% MoM, this additional infusion from the existing investors will enable us to launch our full Product in new cities and expand at a fast pace.”
Venus Dhuria, Co-Founder at Appyhigh, said, “Knocksense combines the best of both worlds. On one hand – they’ve developed expertise in curating hyperlocal content across major cities. Hyperlocal content is rapidly gaining importance with audiences as people are interested in knowing what’s happening in their backyard. On the other hand, their flagship product KnockOFF leverages their hyperlocal expertise into online commerce by connecting local brands and businesses with consumers through exciting deals. With subscriptions and GMV growing 100% MoM in the last few months, they’re off to a strong start. This makes Knocksense a very unique ecosystem of hyperlocal engagement and commerce.”