Plutus, a student-run firm, has secured $280K in pre-seed finance lead by Campus Fund and additional investors like CIIE – IIM Ahmedabad, Shruti and AlaguPreiyannan.
Plutus stated that the revenues would be used to develop new technologies to increase the monetisation possibilities for content producers and to enhance collaborations with artists and fans.
Plutus, founded in June 2021 by Karata Dasmahapatra, Shivanshu Tyagi, and Sambhav Jain, focuses on strengthening relationships between creators and their followers through a combination of live and super casual community games. Plutus is a platform that allows for two-way content flow through group chats, live rooms, creator-led games, analytics, and integrated payments.
Plutus claims that with a pay-as-you-go model, producers may make more from their user base than subscriptions or workshops, and in certain cases more than advertiser campaigns. This is apparent in their higher repurchase rates, fan retention, and creator earnings.
Plutus intends to grow throughout India and Southeast Asia, as well as introduce a new set of hyper-casual games and services. The firm claims to work with over 3,000 creators throughout India, with a waiting list of over 10,000. It also has a 35% month over month increase in user base and an 86% Net Promoter Score (NPS).
Investors in Campus Fund include HDFC Bank, IIFL Wealth, and individuals such as Deep Kalra, Phanindra Sarna, and Keisuke Honda, among others.