Schmooze Raises $4 Million for AI-Powered Meme-Based Dating App

Meme-based dating app Schmooze raises $4 million in round led by Elevation Capital

The newly raised funds will be used for growth and expansion as well as to enhance its AI engine. "We've realised that the power of content in unifying people and understanding if they can vibe together is immense and universal. While we began with memes, we're quickly expanding to other forms of content," Anurag said.Schmooze, a meme-based dating app, has raised $4 million in a funding round led by Elevation Capital. The round also saw participation from angel investors including the founders of Ultrahuman, The Souled Store and Paytm. Founded by Vidya Madhavan and Abhinav Anurag, Bengaluru-based Schmooze uses AI to connect people based on their unique sense of humour and interests through memes, aiming to match users with those who resonate with their personalities. "GenZs are done with swiping on 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 observed is the huge explosion of memes, particularly among GenZs...and even millennials have started communicating through memes," she added. The newly raised funds will be used for growth and expansion as well as to enhance its AI engine. "We've realised that the power of content in unifying people and understanding if they can vibe together is immense and universal. While we began with memes, we're quickly expanding to other forms of content," Anurag said. Schmooze has over one million users and has witnessed over nine billion meme swipes. It competes with global giants such as Bumble, Tinder and Hinge in the market. The dating app has also expanded its platform with AI-driven features such as Roast AI, which mimics conversations with a stand-up comedian, and Rant AI, a digital diary that responds to users' inputs to ensure that users feel a sense of companionship, even when they're not directly interacting with others. It last raised around $3 million in 2021. Commenting on the investment, Amit Aggarwal, principal at Elevation Capital, said, "Schmooze represents a strategic evolution in the dating app market. It is like the wingman Gen Zs didn't know they needed -- powered by cutting-edge AI and fuelled 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 from Livspace founder Ramakant Sharma, Cred founder Kunal Shah, Acko cofounder Ruchi Deepak, and Groww founders Harsh Jain and Lalit Keshre, among others.

Schmooze Bags $4 Mn To Expand Meme-Based Dating Platform

Founded in 2021, Schmooze matches users based on their meme preferences and sense of humour AI-powered dating platform Schmooze has raised $4 Mn (INR 33 Cr) in its Series A round led by Elevation Capital. The funding round also saw participation from angel investors, including founders of Ultrahuman, The Souled Store, Mosaic Wellness, and Paytm. The meme-based dating startup plans to use the fresh capital to enhance its AI capabilities, scale up user acquisition efforts and drive growth in the country. A chunk of the capital will also be utilised for marketing purposes, foraying into Tier II & III cities, and expanding content offerings beyond memes. Founded in 2021 by Vidya Madhavan and Abhinav Anurag, Schmooze matches users on the dating app based on their meme preferences and sense of humour. The idea stemmed from Madhavan's personal experience of connecting with her now-husband through a shared sense of humour and memes. "When I was at Stanford, I noticed how tired people were of the superficial swiping culture. They wanted more than just looks; they craved a connection beyond the surface. And then it hit me -- memes are the new language of connection for GenZ," Madhavan told Inc42. The latest fundraise comes three years after the startup bagged $3 Mn in seed funding in 2021. At the outset, it catered to users in the US but pivoted its focus to India last year. Since its launch in India 10 months ago, Schmooze claims to have attracted over 1 Mn users and witnessed 900 Mn meme swipes. The app also claims to have a 3X better ratio of female to male users compared to other mainstream dating sites, with about 30-35% of its users being female. It also claims that 72% of its chat rooms are two-way active, meaning both users have sent at least one message. Madhavan said that the startup now plans to further enhance its AI engine and refine its meme-based matching algorithm, which it claims currently analyses over a billion meme interactions to create detailed user personas. Schmooze also plans to expand beyond memes to other forms of content and is developing features like Roast AI, which simulates conversations with a stand-up comedian, and Rant AI, a digital diary that responds to user inputs, ensuring users have companionship even when they're not interacting with others. The app currently shows users 200 memes a day for free, with an option to view 400 memes for INR 49. This cap, as per Madhavan, has helped Schmooze manage costs, maintain quality control, and create realistic user expectations. The latest fundraise comes at a time when homegrown dating platforms are witnessing renewed interest from investors. Last month, AI-powered dating platform Juleo bagged $2.5 Mn in a strategic funding round from more than 180 angel investors In July, actress Huma Qureshi also pumped in an undisclosed amount in Kolkata-based dating app flutrr. Meanwhile, established players like Bumble, Hinge, and Tinder continue to mount an effective challenge to new contenders in the Indian online matchmaking space. As per a report, the Indian online dating market is projected to reach $402.10 Mn in revenue with a user penetration of 6.3% by the end of 2024.

AI-led dating platform Schmooze raises $4 million series A round

Schmooze, an AI-powered meme-based dating platform, has closed its series A round of $4 million, led by Elevation Capital. The round also saw participation from angel investors, including the founders of UltraHuman, The Souled Store, Mosaic Wellness, and Paytm. Powered by over 1 billion meme interactions, the platform will use the funding to further enhance its AI, with a continued focus on scaling user acquisition efforts.