The round also saw participation from angel investors including the founders of Ultrahuman, The Souled Store and Online payment.
Founded by Vidya Madhavan and Abhinav Anurag, Bengaluru-based Schmooze uses artificial intelligence to connect people based on their unique sense of humor and interests through memes, with the aim of matching users with those who resonate with their personalities.
“Gen Z is no longer interested in swiping through photos. They are looking for something deeper in the people they are interested in dating,” Madhavan told ET in an interaction. “At the same time, another trend I have observed is the huge explosion of memes, particularly among Gen Z… and even millennials have started communicating through memes,” he added.
The newly raised funds will be used for growth and expansion, as well as to improve its artificial intelligence engine.
“We realized that the power of content to bring people together and make them understand if they can communicate with each other is immense and universal. While we started with memes, we are quickly expanding to other forms of content,” said Anurag.
Discover the stories that interest you
Schmooze has over a million users and has seen over nine billion memes. It competes with global giants like Bumble, Tinder and Hinge in the market. The dating app has also expanded its platform with AI-powered features such as Roast AI, which mimics conversations with a comedian, and Rant AI, a digital journal that responds to user input to ensure users feel a sense of camaraderie, even when they are not directly interacting with others.
The last time it raised around $3 million was in 2021.
Commenting on the investment, Amit Aggarwal, Director at Elevation Capital, said: “Schmooze represents a strategic evolution in the dating app market. It’s like the companion Gen Z didn’t know they needed – powered by cutting-edge AI and fueled by the rich tapestry of memes, it’s a deep dive into the psyche of today’s youth, offering a vibe check that resonates with their unique cultural language.”
On August 6, ET reported that Dating app Juleo raised $2.5 million in a funding round Livspace founder Ramakant Sharma, Cred founder Kunal Shah, Acko co-founder Ruchi Deepak, and Groww founders Harsh Jain and Lalit Keshre, among others.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.