PE-VC Fund Investments
Video content platform TrueFan raises $10-M led by Baring India, Z3 Partners
Gurugram-based TrueFan AI has raised USD 10 million in a Series A funding round led by Baring Private Equity Partners India and Z3Partners. IAN Alpha Fund and 3Lines Venture Capital also participated in the round.Founded in 2020 by Nimish Goel and Devender Bindal, the company initially operated as a celebrity engagement platform. Following a pivot to enterprise AI in 2024, the company now provides a generative AI video platform to over 100 enterprise clients, including Zomato, Bajaj Finance, HDFC Bank, Axis Max Life Insurance, Cipla, BharatPe, and Goibibo.The firm plans to use the new funds to expand its enterprise customer base, enter new markets across Southeast Asia and the Middle East, and scale its presence in the US.
Between Aug 2020 and Jun 2022, TrueFan had attracted about $ 11 M from Mayfield, Saama Capital, Unilazer Ventures, Blume Ventures, Mayfield, RAAY Global Investments, Secocha, Z3Partners and others.For FY25, TrueFan had reported about INR 17 Cr in Operating Income and about INR 9 Cr in Net Loss.
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