Artha Venture Fund (AVF), India’s first early-stage micro-VC fund, led a seed round of 1.75 crores in StarClinch today. Nitish Mittersain, the Founder and CEO of Nazara Technologies, also took part in the round. From AVF’s recently closed 225 crores micro-VC fund, StarClinch is the 14th investment and 23rd funding round.
StarClinch, which was founded by Varun Agrawal, will use the funds to expand its roster of over 15,000 artists. The team will expand to focus on corporate partnerships, technology upgrades, and new product development to serve to the online, offline, and hybrid event segments. Furthermore, the business will extend to Tier 2 and Tier 3 cities and towns, giving artists from these areas an equal chance and a fair playing field.
Commenting on the funding Varun Agrawal, Founder, StarClinch, said, “At StarClinch, we have always emphasized leveraging technology creatively while adapting to an emerging entertainment services marketplace. We have been introducing solutions to bridge the demand-supply gap, yield value-centric results for our talent and clients. Owing to the significant talent pool in tier X towns and cities, we have our eyes peeled for budding talent from all 4 corners of the country! The demand for live gigs and performances from tier 1 and tier 2 cities are growing at an unprecedented rate. We are privileged to onboard Artha Venture Fund as an active investor and aim to use their expertise and extensive network to fuel our growth in the years to come.”