iWorld
Explurger secures $ 4.5 million in series-A funding led by Affle
Mumbai: Social media platform Explurger has announced that it has raised an investment of $ 4.5 million (Rs 37.3 Cr) in a series-A funding led by Affle (India) Limited (“Affle”) at a pre-money valuation of about $ 40 million (Rs 338 Cr). With this investment, Affle (India) Limited will hold a 9.03 per cent stake (on a fully diluted basis) of Explurger, which has already shown a robust potential and interest from global investors.
Launched in 2021 in India, Explurger has already garnered more than 8.5 million users across 75+ countries. Pioneering the field as the only “Gamified” AI-powered vertical consumer-tech social media platform for travelers, Explurger is listed by Google as one of ‘10 Most Innovative Apps Making Mark in India and Beyond’. With an AI-centered social media format, the app differentiates itself with features such as Automatic Travelogue, Rewards and Bucket List to cater to the distinctive needs of travelers and explorers. The company expects to target the growing social media users in India and the world, amidst a renewed interest in the travel segment in the post-pandemic world.
The travel and tourism industry continues to be on the rise, with a projected contribution of about 8.4% to the Global GDP in 2023 (WTTC) and projected contribution of about 5.4% to India’s GDP in 2023 (WTTC) with an estimated 124% increase for the following decade, it is clear that the niche premise of the app signals brighter horizons.
Speaking about the investment, Explurger founder & CEO Jitin Bhatia, said, “We’re thrilled to welcome Affle on our cap table as part of Series-A funding round. Affle is already a leading name known for their tech innovations and R&D, and with them as an investor, it validates our vision to build a social media platform of the future that goes beyond likes and shares, and truly builds a global connected community using the advancements of AI. We look forward to the next phase of our growth story and are grateful for the confidence shown in us by the team at Affle.”
iWorld
Tips Music CEO Hari Nair to step down
Girish Taurani and Sushant Dalmia to jointly steer the company as the hunt for a new chief begins
MUMBAI: A leadership shuffle is under way at Tips Music. Hari Nair, the company’s chief executive, will step down on April 30 as the music label begins the search for a successor.
The company said Girish Taurani, executive director, and Sushant Dalmia, chief financial officer, will jointly oversee operations during the transition while the board identifies a permanent replacement.
Nair joined Tips Music in 2023 and set about reshaping the veteran music label into a more digital, data-led enterprise. During his tenure, the company secured licensing and partnership deals with global platforms including Sony Music Publishing and TikTok, while renewing agreements with Warner Music Group.
Drawing on earlier experience in technology and entertainment, including a stint at ByteDance, Nair pushed the organisation towards a performance-driven culture. He built a brand partnerships division and introduced proprietary software systems aimed at strengthening digital distribution and data capabilities.
Kumar Taurani, chairman and managing director, credited Nair with embedding a data-led culture within the company and driving revenue growth in line with shareholder commitments.
In his resignation note, Nair said that after helping transition the label into a modern, digitally focused and process-driven organisation, the time had come to pursue his next leadership challenge.
The leadership change comes as the broader Tips Films group shows signs of financial stabilisation. In the third quarter of FY26 the company reported a net loss of Rs 2.86 crore, narrowing sharply from Rs 14.2 crore in the previous quarter. For the nine months ended December, losses stood at Rs 12.37 crore.
Yet revenue told a more volatile story. Income from operations slid to Rs 4 crore in Q3 FY26 from Rs 56 crore in the preceding quarter, taking total operating income to Rs 4.56 crore.
For a company built on a catalogue of more than 34,000 tracks and decades of Bollywood hits, the next chief will inherit both a digital engine and a volatile music market. The playlist may be familiar, but the next act at Tips Music is only just beginning.
