Mumbai based crowdfunding platform Ketto Online Ventures Pvt Ltd, has raised Rs 4.4 crore ($700,000) in a fresh angel investment round led by one of its existing investors Pradyumna Dalmia, co-founder of Calcutta Angels and Sudhir Rao, deal champion of the Chennai Angels & co-founder of IndusAge Partners.
The other investors who participated in this round are Ah Ventures, Singapore Angel Network, Anupam Mittal, Indian Internet Fund, Letsventure, Intellecap Impact Investment Network (I3N) and Project Guerrilla.
The raised investment will be used to grow its technology and business development team as part of its aim to facilitate $100 million in funding for other firms. Also the funds will be used for company’s expansion in Singapore, Indonesia, Malaysia and other Southeast Asian countries.
Founded in 2012 by Zaheer Adenwala, Kunal Kapoor and Varun Sheth, Ketto is an online network that allows users to support causes and connect with like-minded individuals and organizations. The platform connects individuals and brands with investors and also helps non-profit organisations to raise funds by connecting them to companies and individuals.
In 2013 the company had raised angel investment of Rs 77 lakh from Club ah!, a network of investors and part of ah! Ventures, and Calcutta Angels.