Social media startup Hunch has made waves in the tech investment realm by successfully raising $23 million in its Series A funding round. The round was led by Alpha Wave and South Korea-based Hashed Emergent, signifying a solid vote of confidence in the Dubai-headquartered company’s vision and potential.
Established in 2022 by Ish Goel, Hunch has swiftly carved a niche in the social media landscape. The platform’s unique proposition empowers users to create engaging polls on topics spanning pop culture, gaming, finance, dating, relationships, anime, and more. These polls serve as catalysts for conversation, bridging the curiosity gap and enabling users to validate their opinions while connecting with like-minded individuals.
With fresh capital infusion, Hunch is poised to bolster its technological infrastructure and enhance feed personalization algorithms. Moreover, the funding will facilitate the startup’s ambitious expansion plans, mainly targeting the lucrative markets of the United States and India. Notably, Hunch already maintains a presence in India and Singapore, and this investment round signals its intention to deepen its roots in key strategic regions.
This funding milestone follows Hunch’s earlier success in securing $3 million in a seed round in June 2022. Since its inception, the company has amassed an impressive track record, boasting over 1.15 lakh polls and garnering more than one crore opinions through user engagement. Notably, a significant portion of Hunch’s user base hails from India, comprising approximately 85% of its users, with the remainder originating from the United States.
In a statement addressing the media, Ish Goel outlined Hunch’s ambitious growth trajectory, expressing the company’s aspirations to scale its monthly active users (MAUs) to the low single-digit millions within the next 12 months. Notably, Hunch anticipates a substantial portion of this expanded user base to be derived from the United States, reflecting its strategic focus on penetrating and capturing market share in one of the world’s largest consumer markets.
Hunch’s success underscores the burgeoning trend of Indian-origin startups making waves on the global stage, with the company joining the ranks of other notable ventures in Dubai. This includes recent funding announcements such as Fashinza co-founder Jamil Ahmad’s proptech startup Marrfa, which recently secured a pre-seed round led by Berlin-based VC firm Foundamental.
As Hunch embarks on its next phase of growth fueled by substantial investment, all eyes are on this innovative social media trailblazer as it continues to disrupt and redefine the digital landscape.
