Meme-based dating app Schmooze bags $4M led by Elevation Capital
Summary
AI-powered meme-based dating app Schmoozehas secured $4 million in a series A round led by Elevation Capitaland angel investors including founders of Ultrahuman, The Souled Store, Paytm and Mosaic Wellness.The fresh funds will be allocated for growth and enhancing its AI engine. Secondly, it will be directed towards growth and expansion efforts," Madhavan tells YourStory.Schmooze was born while Madhavan dabbled around other ideas while pursuing her MBA at Stanford University.Unlike traditional dating apps that rely on swipes, Schmooze leverages artificial intelligence to match users based on shared humour and personality traits through memes. Through the Schmooze Predicts feature, the AI delivers playful insights about potential matches, such as You both have annoying relatives.Schmooze represents a fundamental evolution in the dating app market. It is designed to be the wingman Gen Zs didnt know they neededpowered by cutting-edge AI and fuelled by a rich tapestry of memes. "By enabling meaningful connections, Schmooze is setting a new industry standard and paving the way for how AI can fundamentally enhance dating and human relations, said Amit Aggarwal, Principal, Elevation Capital.Recent estimates from Deloittes 2023 Gen Z and Millennial Survey reveal nearly 50% of Gen Z in India feel socially disconnected despite high digital engagement.