Ketto raises $700k seed round involving Singapore Angel Network

Visual of Ketto site, July 2015

Ketto, a Mumbai-based crowdfunding platform for social, personal and creative projects founded by Varun Sheth, actor Kunal Kapoor and Zaheer Adenwala in October 2012, has closed a $700,000 seed funding, led by Pradyumna Dalmia of the Calcutta Angels and Sudhir Rao of the Chennai Angels.

Others investors participating in this round included the Singapore Angel Network (SGAN), Anupam Mittal, Indian Internet Fund (IIF)LetsVenture, The Chennai Angels, Calcutta Angels (CAN), Intellecap Impact Investment Network (I3N), Ah Ventures and Project Guerrilla.

The capital raised from this round is intended to expand its technology and business development teams. Ketto aims to reach $100 million in volume by crowdfunding, as well as expand operations to Singapore, Indonesia and Malaysia, and possibly other Southeast Asian states.

Commenting on the investment, Sheth, who served in a CEO role, said, “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,” .

Ketto claims to have seen a growth rate of 3000 per cent year-on-year, in terms of their transactions. Projects on the platform endorsed and backed by a combination of celebrities and corporate entities have successfully raised funds.

Bollywood actors like Hrithik Roshan, Amitabh Bachchan, Anushka Sharma and corporations like Myntra and StarSports have seen the benefits of co-branding and supporting projects on the platform, in order to grow mind share – the development of consumer awareness or popularity.

With social media and various other platforms creating channels for an array of marketing and advertising, celebrities, entrepreneurs and corporations are increasingly aware of the impact on their their brand and business. They are keen to be associated with and leverage on a platform like Ketto, which allows them to reach out to a large audience.

A crowdfunding platform like Ketto allows for outreach to a large audience and can facilitate the combined role of fundraising and market validation of creative products. It also allows for assessing the degree of market-product fitness.

Also Read: 

Property crowdfunding portal CoAssets begins trading on NSX

Malaysia first in ASEAN with crowdfunding legal framework

Crowdfunding a game changer for entrepreneurs : Prakash Somosundram

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.