Primetrace nears $50 million from 360 One Asset at $500 million valuation
Business
Primetrace, the company behind social platform Kutumb, is close to raising $50 million from 360 One Asset and others, bumping its valuation to $500 million (up from $150 million in 2021).
Founded in 2020 by a group of ex-Pratilipi employees, Primetrace has seen explosive growth and is quickly making a name for itself in India's tech scene.
Primetrace posts 600cr revenue, plans polo
Primetrace's platforms have jumped from just half a million users in late 2020 to 70 million today.
The company now brings in over ₹600 crore ($63 million) annually, with profits between ₹120 crore and ₹150 crore.
This new funding will help them launch more consumer AI products, including Polo, their new gay dating app aiming to take on global players like Grindr.