Bangalore: Mumbai-based online crowdfunding platform, Ketto Online Ventures Pvt. Ltd., mints $700K in a fresh round of seed funding led by Pradyumna Dalmia, Co-Founder of Calcutta Angels and Sudhir Rao, Deal Champion of The Chennai Angels & Co-Founder of IndusAge Partners.
“We were one of the first investors in Ketto and have been closely associated with Ketto team since the last 18 months. During this time, the company has shown exceptional progress and grown at a lightning speed with a very tight burn rate and a zero advertising cost. With the new fund infusion, I have full confidence that Ketto will be among the top 10 global crowdfunding platforms,” Pradyumna Dalmia Co-Founder, Calcutta Angels quotes.
The round witnessed the participation of Singapore Angel Network, Anupam Mittal, Indian Internet Fund, LetsVenture, The Chennai Angels, Calcutta Angels, Intellecap Impact Investment Network (I3N), Ah Ventures and Project Guerrilla. The raised capital will be utilized in strengthening the technology and business development team in order to attain $100 million in volume via crowdfunding. The company also foresees to venture into Southeast Asian countries such as Singapore, Indonesia, Malaysia and others.
Ketto was incepted in 2012 by Varun Sheth, Kunal Kapoor and Zaheer Adenwala and had earlier elevated a fund of $121K from Club ah! and Calcutta Angels. As per reports, the crowdfunding portal has carried out more than 500 campaigns which has helped it in raising an enormous fund of $788K.