Originals · Startup · Startups & Fintech
Google takes a 1.43% stake in creator platform Rigi for Rs 10 crore as it bets on free micro dramas
The Bengaluru startup, which began by helping creators sell paid communities, is now pushing Rigi TV, an ad supported short video app.
Google International has invested Rs 10 crore in Rigi, according to regulatory documents reviewed by Entrackr. Rigi's board approved the allotment of 1,543 preference shares at Rs 61,796 each, a deal that values the startup at about Rs 670 crore after the money comes in and gives Google a 1.43% stake. Mint, citing these reports, put the cheque at about $1.07 million and the valuation at about $79 million. Rigi itself announced Google as an investor on November 13, exchange4media reported, without sharing the amount.
Swapnil Saurav and Ananya Singhal started Rigi in 2021 as a tool for creators, influencers and celebrities to earn from their followers. Creators could run paid communities on WhatsApp and Telegram, manage subscriptions and sell courses, webinars, workshops and one to one mentoring, with Rigi taking a fee on each transaction, Entrackr and Mint reported.
The company has since moved into entertainment with Rigi TV, a short video app that carries original shows and micro dramas and earns through ads and in app purchases. Rigi says its micro dramas are free to watch with no subscription, and that short episodes and repeat viewing can support a large ad led business aimed at India's mass market, according to exchange4media. Mint reported that the new money is meant to expand this free to watch content.
Google joins a cap table that already includes Elevation Capital, which led a round of about Rs 100 crore in January 2023 with Accel, Stellaris Venture Partners and Sequoia Capital taking part, Entrackr reported. Mint added that Rigi raised a $10 million Series A in April 2022. In FY25, the year to March 2025, Rigi reported revenue of Rs 19.92 crore and a net loss of Rs 20.5 crore. It has not yet filed FY26 results.
The stake is small, but the signal is the point. Micro dramas are one of the busiest bets in Indian consumer internet, and a Google entry gives Rigi a high profile backer as it shifts from creator tools to an ad funded video platform. The next filing to watch is its FY26 accounts, which will show how far the pivot has moved revenue.
