Ketto with infused funds plans to double its technology and business development team with an aim to reach $100m in volumes by crowdfunding.
Mumbai based crowdfunding platform for social, personal and creative projects, Ketto has raised $700k in funding led by Pradyumna Dalmia, deal champion of Calcutta Angels and Sudhir Rao, deal champion of The Chennai Angels and co-founder of IndusAge Partners. The other investors in the round include - Ah Ventures, Singapore Angel Network, Anupam Mittal, Indian Internet Fund, Letsventure, Chennai Angels, Calcutta Angels, Intellecap Impact Investment Network (I3N) and Project Guerrilla.
With the infused funds, the startup plans to double its technology and business development team with an aim to reach $100m in volumes by crowdfunding. Ketto also plans to expand operations in Singapore, Indonesia, Malaysia, among other South-East Asian countries. Founded in October, 2012 by Varun Sheth, Bollywood actor Kunal Kapoor and Zaheer Adenwala, Ketto is Asia’s largest crowdfunding platform for social, personal and creative projects, according to crowdsurfer.com.
The company has witnessed a growth of 3000% year-on-year basis in terms of volumes, and in the past few months, has been crowdfunding close to a crore monthly. In the last 12 months, multiple celebrities, corporate have backed various projects by raising funds on Ketto. The list includes names like Hritik Roshan, Amitabh Bachchan, Anuskha Sharma, Myntra, StarSports, among others.
Recently, Ketto has created first-of-its-kind partnership with Lakme Fashion Week - to provide a platform to the seven Gen Next designers to garner funds to launch their label at the upcoming showcase in August, 2015 in Mumbai.
With global crowdfunding market estimated to reach $96bn by 2025, and Asia being the key growth driver, Ketto is uniquely positioned to amass maximum support for a project of any kind, be it disaster, social, technology, creative or personal.