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2013-08-14

Head Held High raises angel funding of Rs 25 m from Unilazer and Intellecap

Bangalore-based social enterprise, Head Held High Services Pvt. Ltd., has announced that it has raised its first round of investment of Rs 25 million from leading angel investors in India & overseas, focused on impact investments. The current round of investment will be deployed over the next 12 months to refine the model, ink critical partnerships and build processes/technology for scale.

Bangalore-based social enterprise, Head Held High Services Pvt. Ltd., has announced that it has raised its first round of investment of Rs 25 million from leading angel investors in India & overseas, focused on impact investments. The current round of investment will be deployed over the next 12 months to refine the model, ink critical partnerships and build processes/technology for scale.

 

The investors include Unilazer Ventures, five Angels from the Intellecap Impact Investment Network (I3N) including Pravin Gandhi, Jayesh Parekh, Reena Mithal and Sanjeev Shah, and US-based investors like Kartik Kilachand.

 

Founded in 2012 by Madan Padaki & Rajesh Bhat, Head Held High Services aims to support rural youth through platforms for talent transformation, employment creation and entrepreneur engagement, for the services economy. The company promotes other for-profit organizations that can be sustainable enterprises and be scaled up in order to make a large scale impact.

 

Speaking on the investment, Amit Banka, Managing Director, Unilazer Ventures Pvt. Ltd, said, “70% of India still lives in the rural parts of the country. Unless they are moved out of their current levels of income, India won’t find its place in the top 3 economies of the world. Head Held High Services, with its unique platforms, is poised to become a catalyst of rural ecosystems to generate jobs, entrepreneurs and rural wealth.”

 

Welcoming the investors on board, Madan Padaki, Co-founder and Executive Chairman, Head Held High Services said, “We are privileged to have such socially conscientious investors on our journey. With their support and network, we will now be able to ramp-up on talent, technology and partnerships that are key to achieve scale. Their participation has strengthened our ability to create massive social impact in a sustainable manner.”

 

Till date Head Held High has trained over 800 youth in three districts – Koppal, Gadag (Karnataka) and Anantpur (AP), generating jobs for 90 per cent of its trainees. It has also launched the Ruban Entrepreneur Forum, Gadag Chapter that is working with 50+ rural entrepreneurs in exploring new business opportunities. Head Held High aims to be present in 100 districts by 2018, and enable 2 million rural youth to live with their heads held high, over the next 10 years.

 

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