'Emoji' startups gain funding traction
Companies with emoji's received funding mainly from seed or angel investors or Series A stage funding.
The small digital image or icon, also known as Emojis, have generated sizeable funding for start-ups in 2015.
Companies with the word 'emoji' in their description got a total of $41.8 million (approximately Rs 278 crore) in funding in 2015, according a report by CB Insights. This is much more than the over $5 million (Rs 33.3 crore) in funding in 2014. Although, all the funding to companies came from seed, angel or Series A stage.
Seed or angel funding contributed to 85% of the deals into companies with emoji in their description from 2011 to 2015. While Series A contributed to 15% of the deals.
Emoji's has become the new social way of communication and a large majority 71% female use it in comparison to 29% males, according to a report by Snaps.
The report said that 25 deals had been funded in the 5 years and the average deal size was $1.81 million.