About Turnip
Turnip is a company based in Bengaluru (India) founded in 2020 by Devendra Kumar Sharma, Aditya Sharma, and Pooja Dubey.. Turnip has raised $14.73 million across 3 funding rounds from investors including Angel List, Wellfound and Mars Shot Ventures. The company has 20 employees as of March 23, 2024. Turnip operates in a competitive market with competitors including Twitch, EloElo, Tango, GroupMe and StreamElements, among others.
- Headquarter Bengaluru, India
- Employees 20 as on 23 Mar, 2024
- Founders Devendra Kumar Sharma, Aditya Sharma, Pooja Dubey
- Stage Minicorn
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Sectors
TelecommunicationsMedia & Entertainment
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Turnip Media Private Limited
- Date of Incorporation 13 Apr, 2020
- Jurisdiction Bangalore North, Karnataka, India
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Annual Revenue
$397.8 K (USD)509.03as on Mar 31, 2023
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Net Profit
$-3.06 M (USD)-89.52as on Mar 31, 2023
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EBITDA
$-3.25 M (USD)-47.21as on Mar 31, 2023
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Total Equity Funding
$14.73 M (USD)
in 3 rounds
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Latest Funding Round
$12.5 M (USD), Series A
Dec 22, 2021
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Investors
Angel List
& 30 more
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Employee Count
20
as on Mar 23, 2024
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Funding Insights of Turnip
Turnip has successfully raised a total of $14.73M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $12.5 million completed in December 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $12.5M
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First Round
First Round
(08 Jun 2020)
- Investors Count 31
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2021 | Amount | Series A - Turnip | Valuation | Greenoaks , Elevation Capital | |
| Aug, 2021 | Amount | Seed - Turnip | Valuation | Angel Deal Holdings , AL Advisors | |
| Jun, 2020 | Amount | Seed - Turnip | Valuation | Elevation Capital , Wellfound |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Turnip
Turnip has secured backing from 31 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Angel List, Wellfound and Mars Shot Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Tech-enabled businesses are funded by Greenoaks venture capital firm.
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Founded Year | Domain | Location | |
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Elevation Capital is focused on early-stage tech investments in India.
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Founded Year | Domain | Location | |
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Venture capital firm focused on multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Turnip
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Turnip
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Turnip Comparisons
Competitors of Turnip
Turnip operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Twitch, EloElo, Tango, GroupMe and StreamElements, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
ESports social video streaming platform
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| domain | founded_year | HQ Location |
Live social entertainment is facilitated via an app-based platform.
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| domain | founded_year | HQ Location |
Live-streaming platform for user connections and content monetization is provided.
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| domain | founded_year | HQ Location |
Provider of group messaging application
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| domain | founded_year | HQ Location |
Monetization and engagement tools for live streaming are provided.
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| domain | founded_year | HQ Location |
Provider of tools to record and live stream mixed reality content
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Turnip
Frequently Asked Questions about Turnip
When was Turnip founded?
Turnip was founded in 2020.
Where is Turnip located?
Turnip is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Is Turnip a funded company?
Turnip is a funded company, having raised a total of $14.73M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.64M, raised on Jun 08, 2020.
How many employees does Turnip have?
As of Mar 23, 2024, the latest employee count at Turnip is 20.
What is the annual revenue of Turnip?
Annual revenue of Turnip is $397.8K as on Mar 31, 2023.
What does Turnip do?
Turnip was founded in 2020 in Bengaluru, India, as a platform for live streaming mobile games. Streams are directed by users to YouTube and Facebook, with support for overlays, UPI donation links, in-stream video chat, and video effects. The Android application enables these operations within the gaming and streaming sector. Access is provided through the domain turnip.gg.
Who are Turnip's investors?
Turnip has 31 investors. Key investors include Angel List, Wellfound, Mars Shot Ventures, Digilet, and Greenoaks.
What is Turnip's valuation?
The valuation of Turnip is $51.27M as of Dec 2021.