New Delhi, March 6: Hunch, a popular social networking application, announced on Wednesday that it has successfully secured $23 million (approximately Rs 190 crore) in a funding round led by prominent investment firms Alpha Wave and Hashed Emergent. This substantial investment will play a pivotal role in propelling Hunch’s expansion plans across the United States and further solidifying its presence in India.
Plans for Expansion and Growth
Expressing his excitement about the new funding, Hunch co-founder and CEO Ish Goel highlighted the significance of this investment in the company’s growth trajectory. He emphasized Hunch’s commitment to becoming the preferred platform for authentic and meaningful connections among young adults, particularly as the app scales its operations in both the US and India. Goel also expressed gratitude for the unwavering support received from the company’s diverse and experienced investors, especially during the challenging times of the past year.
Unique Features and User Engagement
Hunch stands out in the social media landscape by offering a unique feature that allows users to create polls on a wide range of topics, spanning pop culture, gaming, finance, dating, relationships, anime, and more. These polls generate votes and comments, effectively bridging the gap of curiosity and enabling users to validate their opinions while discovering like-minded individuals. To date, Hunch boasts an impressive record of over 1.15 lakh polls, attracting more than 1 crore opinions through user votes across the nation.
Innovation in Crowd-Sourced Intelligence
Tak Lee, CEO and managing partner of Hashed Emergent, acknowledged the significance of crowd-sourced intelligence as a major area of innovation in both the web3 and web2 worlds. He expressed his belief in Hunch’s potential to leverage the best aspects of both worlds and emerge as the preferred platform for individuals who value expressing their opinions. Lee also recognized the growing fatigue among Gen Z users towards apps that promote vicarious living, presenting a substantial opportunity for Hunch to establish itself as a platform that encourages authenticity without the need for filters.
Hunch’s successful funding round underscores its potential to revolutionize the social networking landscape by offering a unique blend of crowd-sourced intelligence and authentic connections. As the company embarks on its expansion journey in the US and further strengthens its presence in India, Hunch is poised to drive positive change and cater to the evolving preferences of young adults seeking meaningful interactions in the digital realm.
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