Djungo Launches in Sweden & Raises 15 Million
Social discovery platform Djungo is now available in Sweden after raising 15 million SEK in a recent investment round. The platform received over 10,000 downloads in the two weeks after launch, and is now targeting expansion across Europe and the USA.
A highly successful beta version of the Djungo platform went live in São Paulo, Brazil in 2021, with tens of thousands of sign ups. It is now launching in Sweden, where authorities have warned about the epidemic of loneliness amongst the country’s young adults.
Djungo looks to address this problem with its curated social groups, where six people are put together based on common interests and values, and with a unique bot-moderated (AI) chat.
“Our goal is to create a social platform where people can find new friends and potential love in a more fun and engaging way than what is offered today,” says Jakob Lundström, CEO and founder of Djungo.
Djungo looks to disrupt the traditional online connections space, capturing the shift away from online dating towards ‘social discovery’. The platform highlights that this platonic friend-finding space is predicted by Match Group to grow significantly.
“After our beta launch, it became clear that Djungo is just as popular with users looking for friendship as it is for love. It is also a huge strength to achieve a balanced distribution between male and female users, as it contributes to a more rewarding user experience and we are happy that Swedish users can now take part in the app and hope it can contribute to less loneliness and more joy”, shares Linda Murray Wennberg, co-founder of Djungo.
In connection with the Swedish launch, Djungo has successfully closed a financing round of SEK 15 million. The round was led by Levels Venture Studio with support from other investors such as Niklas Kylberg, business angel and owner of Rekomo, Michael Wolf, siblings Linda Malmström Grassman and Sune Malmström, co-owners of Villa Dagmar and Hotel Diplomat and Alexander Morad from Bright Mind Agency.
