Delhi based social tech company GramVaani has raised USD 500,000 in its first equity investment round, confirmed founder, Aaditeshwar, but denied to share any information regarding the investors. But according to some sources funds have been invested by Indian Angel Network along-with few other investors.
GramVaani was started in 2009, it is a social media platform for rural India providing voice and video based local media platforms.
It has three main verticals which include GRINS, a product for community radio stations having more than 40 installations in India and Africa. Second, vAutomate suite of voice applications which is being used by several partners, including PATH (community mobilization), CEDPA (health accountability), Inventure (financial profiling of people), Video Volunteers (self help group surveys). Third, its Mobile Vaani network which according to the company has seen huge uptake in Jharkhand and has found several sponsors, including Sesame (education) and Oxfam (gender equality).
It is serving more than 2 million users in over 15 Indian States, Afghanistan, Pakistan, Namibia and South Africa.
Gramvaani will be putting up the raised funds to expand its team. Aaditeshwar Seth, Co-founder, Gramvaani said, “the main agenda of the investment is to grow the Mobile Vaani network and make it financially sustainable. Our GRINS and vAutomate verticals are profitable.”
Recently, IAN also announced setting up of base in Kolkata to fuel startup ecosystem in the east to help them invest in West Bengal, Orissa, Bihar, Jharkhand and the North East states of India.