Funding Alert: Influencer Marketing Tech Platform Do Your Thng Gets Funding from Mumbai Angels
Do Your Thng (DYT), a branded content marketplace has raised fresh funding of US$150,000 led by Mumbai Angels. Faad Network and Angel Bay also participated in the current round; this marks the second investment for AngelBay in DYT.
This funding would help DYT to fuel the next growth phase and help accelerate the expansion of their influencer marketing tech platform.
Headquartered in Gurugram, DYT helps brands get high-quality, personalized branded content at scale with quick turn-around time, backed by data and an ROI-based approach. By leveraging the DYT app, content creators get quick access to brand collaborations. At the same time, marketers capitalize on brand advocates – creators who are authentic product users and give genuine brand recommendations to their community.
Trusted by some of the biggest brands, including MasterCard, Nescafe, Lays, Havells, Marks and Spencer, Logitech, Hershey’s, Royal Sundaram, and Klairs, DYT is on the forefront of the rapidly rising influencer marketing industry. It has grown 4X in terms of revenue since the last financial year despite the repercussions of the pandemic. The company is looking at following the same growth curve in the coming year.
Nandini Mansinghka, Co-Promoter and CEO, Mumbai Angels Network said, “Digital marketing is growing rapidly and influencer marketing is slowly taking center stage in the success of many brands. DYT platform is focussing on making the whole process of creating branded content easier through their tech platform connecting creators with brands, thereby increasing the digital footprint of brands. We are happy to welcome DYT in our diversified portfolio and look forward to the exciting plans they have on the anvil.”
Ankit Agarwal, Founder and CEO of DYT, said, “Mumbai Angels has a very successful track record of partnering with startups. More than the fresh round of investment, it is their network and expertise in scaling companies and improving products that makes them a natural partner for us as we continue to be the technological bridge between brands and creators.”
“We’re thrilled that Mumbai Angels and Faad Network invested with us,” added Hemant Dua, Co-founder and Chief Growth Officer, DYT. “With this latest round of funding, we’ll accelerate the tech side of our platform, making it easier for content creators to pursue what they love and marketers to access unique digital content.”
“We’re proud to invest in DYT again, whose mission to democratise the power of influence is only becoming more important. Ankit, Hemant and the rest of the exceptional team have already done wonders in bringing order to the chaos of influencer marketing, benefitting creators and brands alike. I’m excited to see what more they’ll do moving forward,” commented Sorabh Agrawal, Co-founder AngelBay.
Aditya Arora, CEO at Faad said, “We are delighted to back DYT. Influencer Marketplace platforms like DYT have a luminous future ahead by connecting brands with the right influencers. Such meaningful brand engagements are definitely the need of the hour as the world moves more and more towards influencer marketing,”
The new funding round follows a year that saw a marked rise in demand for digital marketing and advertising. The funds will be injected into pushing a few key tech modules of DYT. It’ll strengthen the platform, reduce the amount of manual intervention required and make the process of getting branded content created as easy as ordering food online.
Mumbai Angels is the premier platform in India focussed on venture investing, actively building the understanding of venture investing as an asset class and creating platforms where both founders and investors can learn, invest and grow. Faad is an early-stage investor network handholding start-ups with the access to the right network and capital.
AngelBay is a sector and location-agnostic angel network having investments in 50+ startups in various sectors, including fintech, shared economy, travel, media and entertainment, consumer and deep tech.