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MUMBAI: Google has taken a small stake in a big-screen ambition built for the mobile phone. The technology giant has invested around Rs 9.5 crore in Bengaluru-based creator economy start-up Rigi, which is betting on bite-sized dramas to win a larger share of India’s entertainment market.
Google International acquired 1,543 preference shares in Rigi at Rs 61,796 apiece, according to regulatory filings reviewed by Entrackr. The allotment translates into an investment of approximately Rs 9.54 crore and gives Google a 1.43 per cent stake. The transaction values Rigi at around Rs 670 crore post-money.
The investment is modest by Google’s standards, but its arrival on Rigi’s shareholder list is significant for the start-up. It also ends a fundraising gap of nearly four years. Rigi last raised around Rs 100 crore in January 2023 in a round led by Elevation Capital, with Accel, Stellaris Venture Partners and Sequoia Capital also participating.
Founded in 2021 by Swapnil Saurav and Ananya Singhal, Rigi began by helping influencers, celebrities and educators turn their followers into paying communities. Its platform enabled creators to run paid groups on WhatsApp and Telegram, and sell courses, workshops and one-to-one mentoring. Rigi earned through transaction fees.
The company has since moved from helping creators monetise their audiences to building an entertainment audience of its own. Its Rigi TV app offers original shows and microdramas in a mobile-first format. The app is free to watch, with advertising and in-app purchases forming part of its business model. Google Play lists it at more than 10 million downloads.
“With Google’s entry into its shareholder base, we’re excited to see the team continue expanding its presence in short-form entertainment,” co-founder Ananya Singhal wrote on social media.
The shift puts Rigi in the increasingly crowded market for short-form serialised entertainment, where platforms are trying to turn quick episodes and repeat viewing into advertising revenue. Its bet is that viewers who may hesitate to pay for another streaming subscription will still make time for a two-minute story.
Rigi’s financials show the investment required to build that audience. For the financial year ended March 2025, the company reported revenue of Rs 19.92 crore, down from Rs 21.92 crore in FY24. Its net loss narrowed by around 30 per cent to Rs 20.5 crore from Rs 29.3 crore a year earlier.
The Google investment gives Rigi fresh capital as it builds out its entertainment business. But the larger test lies ahead: turning millions of app downloads into regular viewers, and regular viewers into an advertising business that can pay its way.
Google has bought a small slice of Rigi. Whether those two-minute dramas can deliver a much bigger payoff is the next episode to watch.
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Google invests Rs 9.5 crore in Rigi as microdramas fuel its entertainment push
