A New Social Network Emerges: Kutumb Secures Funding

Despite a crowded market, opportunities for new social platforms still exist.

Tiger Global is reportedly nearing an agreement to spearhead a funding round of $15 million to $20 million for Kutumb, an Indian startup only seven months old.

Valuation and Investment Details

This investment would value Kutumb at approximately $170 million, according to four sources with knowledge of the negotiations who spoke to TechCrunch.

A termsheet has been presented by the American investment firm, though the Series A deal is not yet finalized. Discussions remain confidential, and the terms are subject to change or potential cancellation.

What is Kutumb?

Kutumb, translating to "family" in Hindi, has developed a “private social network” reminiscent of Reddit.

The platform focuses on connecting communities founded on shared elements such as culture, beliefs, interests, and professional fields.

Rapid User Growth

The startup’s app, launched six months ago, has experienced significant growth, reaching over 11 million monthly active users.

This represents a substantial increase from the approximately 550,000 users reported in December of the previous year, as indicated by data from App Annie shared with TechCrunch by an industry analyst.

Previous Funding Rounds

Kutumb’s valuation stood at around $15 million during its prior funding round late last year, which was secured through Sequoia Capital India’s Surge accelerator.

The company raised approximately $2.5 million in its initial seed financing round, according to data from Tracxn.

Company Response

Tiger Global has not issued a comment regarding the potential investment.

A co-founder of Kutumb did not respond to a request for comment.

Early Stage Event Announcement

Early Stage is a leading event designed to provide practical guidance for startup founders and investors.

Attendees will gain insights directly from successful entrepreneurs and venture capitalists regarding business development, fundraising, and portfolio management.

• Topics covered include fundraising, recruitment, sales, product-market fit, PR, marketing, and brand building.
• Each session incorporates dedicated time for audience questions and interactive discussion.

A 20 percent discount on tickets is available using the code TCARTICLE at checkout.