Business, Investments

Crowdfunding Platform CATAPOOOLT raises >$150k seed round

With an aim to expand into sports, politics, social enterprises and startups category, CATAPOOOLT has raised approx. USD 150k in a seed round. The round was led by Venture Nursery Angels along with the participation from Calcutta Angels, ah! Angels and some leading industry professionals such as Utkarsh Singh (ex-Marketing Director with Indian Premier League); Shiladitya Bora (PVR Directors’ Cut) and Ajay Chandwani (Director Percept H).

A large chunk of the raised funds will be used for technology upgradation and extending team along with marketing and business development activities. Also, the major focus will be on leveraging crowdfunding capabilities for early stage product based startups.

An initiative of Satish Kataria, known for introduction of crowdfunding in India, CATAPOOOLT was launched in July 2013. Based in Mumbai, it was  a part of Venture Nursery’s third batch and was initially aimed at helping creative projects in the streams like movies, music and performing arts, raise funds.

Within 3 months of its launch, it raised highest fund for a film through the platform. Currently, it is working with AAP and will be running series of exclusive campaigns to support its fund raising initiatives. They are also supporting number of interesting projects including Idi Modalu – which is India’s first Telugu film seeking crowdfunding.

“While globally crowdfunding is a USD 5 Billion industry, it is still in its infancy in India – and launching just a crowdfunding platform may not be the answer,” said Satish.

Apart from category expansion, CATAPOOLT is also looking forward to build an offline presence by having tie-ups with a few retail outlets and retail chains. As mentioned by Satish to iamWire, this will basically help them to enhance the whole discoverability of the  projects on the crowdfunding platform.

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