Artificial Intelligence (AI) powered meme-based dating platform Schmooze raised a series A round of USD 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, according to media reports.
The platform will use the funding to further enhance its AI, with a continued focus on scaling user acquisition efforts, as per media reports.
Schmooze was born out of the frustration they, Vidya Madhavan and Abhinav Anurag, saw their peers experiencing with the existing dating apps, which prioritised matching users only on appearance, leading to poor quality connections. So they set out to create a platform that matched users based on their personalities and shared sense of humour—memes proved to be the bridge to predicting compatibility and fostering meaningful connections, reported the media.
In just 10 months since its launch in India, Schmooze claimed to have attracted over 1 million users and witnessed 900 million meme swipes. The firm said the platform has a 3 time better ratio of female to male users compared to other mainstream dating sites.
The Indian and worldwide dating app markets are changing quickly as more people look for meaningful interactions in an increasingly digital environment. Schmooze wants to support Gen Z in overcoming social isolation and loneliness in addition to dating. Features like Rant AI, a digital journal that reacts to user inputs, and Roast AI, which mimics talks with a stand-up comedian, are available for this.
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