Chennai, 11-Nov-14: The Chennai Angels (TCA), today announced an investment in POPxo, focussed on delivering engaging and practical fashion, beauty and lifestyle content for Indian women. This round of investment was co-invested by TCA investors along with angel investors based in US, U.K and Singapore.
POPxo was launched in 2014 by Priyanka Gill and Namrata Bostrom. The Entrepreneurs have a strong background in publishing and commercial management, having previously worked with some of the world’s top magazines, newspapers and retailers. POPxo reaches 1 million loyal and engaged readers per month and has grown rapidly since launch in March 2014 to become the go-to lifestyle resource for young women (18-34) across the country.
Mithun Sacheti from TCA said “With their unique style perspective, Priyanka and Namrata have brought POPxo to the status of the fastest growing content platform aimed at Asian women. The Chennai Angels believes that POPxo is uniquely poised to become THE go-to platform for the modern woman, and we are very pleased to support them in that quest.”
Priyanka Gill, POPxo’s Founder and Editor-in-Chief, says: “The investment from Chennai Angels shows the support that women-focused digital businesses are starting to gain in India. The number of women online will grow from 60 million today to 300 million by 2020. They are looking for engaging, practical content to consume. We provide that content in an accessible manner, and reach them where they live their lives: on social media and on mobile.”
The Chennai Angels (TCA, www.thechennaiangels.com) is one of India’s most active angel investing groups. Founded in the year 2007, it is comprised of successful entrepreneurs and business leaders with a track record of starting and scaling large enterprises. Additionally, several seed and venture capital firms hold institutional membership in the group. Though it is located in Chennai, TCA’s investing members and portfolio investments are not limited by geography. Unusually for an angel investing group, TCA has a diversified portfolio that goes well beyond a restrictive tech focus, reflecting the diversity of its members’ interests. TCA portfolio companies benefit from the collective expertise and Rolodex of its members.