Ketto raises USD 700K from angel investors

Ketti

Mumbai, Jul 16 (PTI) : Mumbai-based crowd-funding platform Ketto today said it has raised USD 700,000 from a clutch of angel investors, led by Pradyumna Dalmia from Calcutta Angels and Sudhir Rao of The Chennai Angels, who is also co-founder of IndusAge Partners.

The other investors in the round include Singapore angel network, Anupam Mittal of Shaadi.com, Indian Internet Fund, Letsventure, Intellecap Impact Investment Network (I3N), Ah Ventures, and Project Guerrilla, the company said in a statement.

With the infused funds, the startup plans to double its technology and business development team with an aim to reach USD 100 million in volumes through crowd-funding, it added.

“The fresh round of funds will be used to build a world class platform which will facilitate users to raise funds across multiple categories for any project of their choice,” Varun Sheth, co-founder & chief executive of Ketto said.

Ketto also plans to expand operations in Singapore, Indonesia, Malaysia, and other South-East Asian countries.

It was founded in October, 2012 by Varun Sheth, Bollywood actor Kunal Kapoor and Zaheer Adenwala.

Multiple celebrities and corporates have backed various projects on Ketto, including Hritik Roshan, Amitabh Bachchan, Anuskha Sharma, Myntra and StarSports, among others.

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