6:48:19 PM PST - Friday, December 9th, 2022

Aura, the frame and photo startup, raises $26M as app users near 3M and frames sold pass 500K  

By Editor - Tue Nov 22, 6:17 am

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Aura , a startup founded by early Twitter employees that makes digital frames and photo sharing apps that can also be used to update those frames, has pulled in some funding to expand its business as it closes in on three million users of its app and half a million frames sold. The company has raised $26 million in a mix of debt and equity led by Lago Innovation Fund, money that the company is using to boost manufacturing this quarter and to invest in 2023 plans. Aura — not to be confused with the meditation and mental wellness app , nor the cybersecurity company , nor the biotech company of the same name — had previously raised around $13 million in equity from investors (per PitchBook) that include Spark Capital, SV Angel, Betaworks and DCVC, as well as a quiet, unreported investment from the Chicago-based Levy Family Office (led by the entrepreneur Larry Levy). It hasn’t been looking to raise more equity-based funding although CEO and co-founder Abdur Chowdhury said it might do something in the coming year, pending the state of the venture market (it’s been a tough 2021 and investors predict that’s likely to continue for a while, so we shall see). Meanwhile, the company has been growing at a snappy pace — 100% year-on-year for at least the last three, with app users going from 1 million in December 2021 to 2 million by September 2022 and on track to hit 3 million in January. Sales of frames have numbered around 500,000, with the company’s newest design, the $149 Carver, currently its top seller. Aura’s frames typically have around four people on average connected to them for adding pictures, which creates a network effect of sorts, Chowdhury said: eventually some of those users get their own frames and build out additional networks of contributors uploading pictures to the new devices, and so on an so forth

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Aura, the frame and photo startup, raises $26M as app users near 3M and frames sold pass 500K

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