Olympic gold medallist Neeraj Chopra has warmed up to venture investing, following in the footsteps of many celebrity sportspersons, by betting an undisclosed sum on influencer marketing platform One Impression.
The start-up has stated that Chopra invested in a "strategic round" which saw the company raise US $1 million (about Rs 7.4 crore) from a clutch of investors, including Karandeep Anand (formerly with Meta), Varun Alagh of Mamaearth, Anupam Mittal of People Group and stand-up comedians Zakir Khan and Kanan Gill.
Many sport persons have taken to the high-risk, high-return game of venture investing to grow their earnings. Shooter Abhinav Bindra, India's first individual Olympic gold medallist, had set up a venture capital fund to invest in start-ups.
One Impression said it will deploy the funds to build product solutions for both brands and creators, accelerate hiring and scale operations both in India and key global markets.
The company, which claims to have an annual revenue rate of US$7 million and is targeting to touch US$35 million in 2022, will also be investing in creator growth and monetisation opportunities.
The company's chief executive and co-founder Apaksh Gupta said it plans to grow 10 times after the investment. It is working with brands in India, US, UAE and Nepal at present.
"Our growth trajectory is a testament to our hard work and has helped us establish the leadership position in the market. I am extremely thankful & excited to welcome all the investors who are now becoming part of our journey.
"Creator economy is booming globally and I have a strong conviction in the team's and platform's capability to become a leading global influencer marketing destination for millions of advertisers," he said.
