Creator economy startup Rigi has raised Rs 10 crore from Google International through an allotment of preference shares, according to regulatory documents reviewed by Entrackr.

The company's board has approved the allotment of 1,543 preference shares at Rs 61,796 apiece, helping it raise the fresh capital. The transaction values Rigi at a post-money valuation of around Rs 670 crore.

The investment marks Google's entry into Rigi's shareholder base and comes as the startup looks to expand its presence in the digital content and entertainment market. Following the investment, Google holds 1.43% in the company.

Founded in 2021 by Swapnil Saurav and Ananya Singhal, Rigi started out by helping content creators, influencers and celebrities turn their online following into a source of income. Its platform enabled creators to build paid communities on WhatsApp and Telegram, manage subscriptions and sell digital products such as online courses, webinars, workshops and one-to-one mentorship sessions.

Rigi followed a platform-led business model, earning through fees on transactions facilitated through its services. The idea was to help creators build a direct relationship with their followers while giving them tools to monetise their communities beyond brand partnerships and advertising.

The company has since expanded into digital entertainment with Rigi TV, a short-form video platform offering bite-sized content, including original shows and micro-dramas. The platform allows users to consume short-form entertainment and generates revenue through advertisements and in-app purchases.

Rigi had previously raised around Rs 100 crore in a funding round led by Elevation Capital in January 2023. Existing investors, including Accel, Stellaris Venture Partners and Sequoia Capital, also participated in the round.

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