VentureNursery, India’s first angel-backed start-up accelerator, has announced a seed investment by its angels in Catapoolt, a crowdfunding and community engagement platform.

Besides, Calcutta Angels and Ah! Ventures have also participated in this round. However, the fund size has not been disclosed.

Launched in 2013, Catapoolt is founded by Satish Kataria, who is credited with introduction of crowdfunding in India and has more than 14 years of strategic management experience. The seed-fund focuses on creative projects and enables them to engage with communities to raise funds and resources.

Further, the platform will get support from some of the leading industry professionals including Utkarsh Singh (ex-Marketing Director with Indian Premier League), Shiladitya Bora (PVR Directors’ Cut) and Ajay Chandwani (Director Percept H).

Talking on the evolution of crowdfunding, Satish Kataria said, “While globally crowdfunding is a USD 5 Billion industry, it is still in its infancy in India. We have been focusing on adapting the model to India and Asia and have been endeavouring to build strong industry partnerships and building powerful potential contributors base to be able to effectively support the ever-increasing independent projects in the domains of creativity, sports, social enterprises, politics and innovation.”

Catapoolt, in just three months of its launch, was able to achieve the record of highest fund raising for a film through a platform. Now, it is working together with AAP and will be running series of exclusive campaigns to support its fund raising initiatives. This further highlights the transparent and open nature of our philosophy to make this a truly democratic platform where millions can engage.

Further, they are also supporting number of interesting projects including Idi Modalu – which is India’s first Telugu film seeking crowdfunding.

Related Topics
comment COMMENT NOW