India-based crowdfunding platform CrowdPouch has closed an angel investment round after a successful first year of operations.
The funding round was led by Elina Investments, which has backed other startups including pharmaceutical supply chain company Tarnea, car servicing firm GoMechanic and media company Zefmo Media.
With the capital injection, CrowdPouch plans to increase its product development, bolster branding efforts and expand the team.
CrowdPouch has supported more than 100 fundraising and pre-selling campaigns on its platform during the first year of operations.
The company offers an online fundraising platform for creative products, enabling people to raise capital to create their items to sell globally. Backers can get the items and receive rewards.
Through the CrowdPouch platform filmmakers, artists, innovators and dreamers can get funding for their work.
CrowdPouch CEO and Founder Vittal Ramakrishna said, “CrowdPouch is more than business for me. It has been my life’s goal to encourage artists, innovators, and visionaries across sectors to pursue their passion.
“India has an untapped market for fundraising and most are unaware of the merits of preselling. Through CrowdPouch, our vision is to create a niche fundraising ecosystem where all essential factors culminate seamlessly to build a nation of dreamers and achievers. Elina has stepped in at the right moment to help us scale our efforts.”
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