Playcez, a startup out of Delhi, has closed a seed round of
several hundred thousand USD $500,000 for an events discovery app for Indian users. It wouldn’t say how much funding it got exactly, but noted that the figure is under and closer to $1 million.
Its founder, Ashwani Gaur, acknowledged that other location-based, social type apps for consumers have tapered off in the hype cycle in the U.S., with investment in those coming down. But India’s growing smartphone user base is catching up to those trends, and is creating demand for his Playcez’s product at this time.
The company was one of six to come out of the Global Superangels Forum (GSF) mentorship program in November last year. The GSF is a TechStars-modeled startup accelerator program launched in India in September last year focusing on intensive incubation efforts for early startups.
Playcez’s app monitors social media and check-in activity in an area, and tries to judge locations based on where traffic is highest. Based on that, it recommends events and activities in the vicinity to users, and shows users what’s hot by distance.
Eventually, it plans to expand beyond India, he said.
The app is in private beta, to be released in two weeks. Register for the private beta here.
Update: Playcez’s founder updated us with the actual funding figure.