Social media startup Hunch secures $23 million in Series A

Hunch, a burgeoning social media startup, has secured a substantial investment of $23 million in its Series A funding round, spearheaded by Alpha Wave and South Korea-based Hashed Emergent. The infusion of capital is poised to bolster Hunch’s technological infrastructure, enhance feed personalization capabilities, and expedite its expansion, mainly targeting the lucrative US and Indian markets. With existing operational hubs in India and Singapore, the Dubai-headquartered company is strategically positioning itself for accelerated growth on a global scale.

This significant funding milestone follows Hunch’s earlier achievement of raising $3 million in a seed funding round in June 2022. Since its inception in 2022 by Ish Goel, Hunch has carved out a distinctive niche in the social media landscape by offering users a platform to create engaging polls spanning various topics, including pop culture, gaming, finance, dating, relationships, anime, and more. These polls bridge the curiosity gap, enabling users to validate their opinions and connect with like-minded individuals through votes and comments.

According to Hunch’s claims, the platform has facilitated the creation of over 115,000 polls, garnering more than 100 million opinions from user engagement nationwide. Approximately 85% of Hunch’s user base is concentrated in India, with the remaining 15% hailing from the US. In a statement addressing the media, founder Ish Goel articulated the company’s ambitious growth trajectory, expressing aspirations to scale up to attain low single-digit millions of Monthly Active Users (MAUs) within the next 12 months, with a substantial portion—ranging from 40% to 50%—of this user base emanating from the US market.

Hunch’s emergence as a prominent player in the social media realm is emblematic of the evolving landscape of Indian-origin startups expanding their footprint beyond traditional boundaries. Notably, Hunch joins the ranks of a select cohort of Indian-origin founder-led startups headquartered in Dubai that have garnered substantial investor interest and financial backing. This recent funding milestone underscores the growing prominence of Dubai as a burgeoning hub for entrepreneurial ventures with global aspirations.

In a parallel development, fellow Indian-origin entrepreneur Jamil Ahmad, co-founder of Fashinza, has made waves in the startup ecosystem with the pre-seed funding announcement for his proptech startup, Marrfa. Led by Berlin-based VC firm Fundamental, Marrfa’s pre-seed round represents another noteworthy instance of Indian-origin founders making significant strides in the global startup landscape from their base in Dubai.

As Hunch embarks on its next phase of growth and expansion fueled by the infusion of $23 million in funding, it underscores the remarkable potential and dynamism of Indian-origin startups. With a relentless focus on innovation, user engagement, and international expansion, Hunch is poised to carve out a formidable presence in the fiercely competitive social media landscape while contributing to Dubai’s vibrant entrepreneurial ecosystem and beyond.