SAIF, Nexus And Omidyar Backs CSR Management Startup Goodera

SAIF, Nexus And Omidyar Backs CSR Management Startup Goodera

SUMMARY

Goodera had raised Series A funding of $5.5 Mn from Nexus Ventures Partners and Omidyar Network in 2017

Mumbai Angels announced its second exit from Goodera along with the funding news

Mumbai Angels had first invested in Goodera in 2015

Bengaluru-based CSR lifestyle management platform Goodera has raised an undisclosed amount in a Series B funding round led by SAIF Partners, Nexus Venture Partners, and Omidyar Network.

The startup had raised Series A funding of $5.5 Mn from Nexus Ventures Partners and Omidyar Network in 2017.

In another development, Mumbai Angels (MA), which had first invested in Goodera in 2015, also announced its exit from Goodera. Nandini Manisghka, CEO and managing director of Mumbai Angels, in a press statement, said, “Our focus on exits is key to the value we add as a network.” The first exit by Mumbai Angels was when Goodera raised Series A funding in 2017.

We expect more of our companies funded at the angel round to become the investment of choice for VCs as they look for quality investments.”

Goodera has developed a platform for companies to keep track of the progress of their corporate social responsibility projects (CSR) and conduct measure-impact assessments. The platform offers companies a dashboard through which they can manage grant requests, among others. The startup was founded in 2014 by Richa Bajpai and Abhishek Humbad.

Goodera has more than 150 large enterprise clients and over 24 Global Fortune 500 companies have adopted its solution to manage, measure, and report their CSR projects across more than 30 countries. Goodera competes with startups such as Corporate 360, CyberGrants, Yourcause, CAUSECAST, and FLUXX, among others.

The energy sector leads in terms of CSR spends, closely followed by financial services, IT and ITes, metals and mining, FMCG, auto, infrastructure, pharmaceuticals, engineering and manufacturing, chemicals, and finally, telecom companies.

Chemical and telecom are the sectors that spent the least on their CSR activities, even though chemicals showed a positive growth of 53% in FY17.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

SAIF, Nexus And Omidyar Backs CSR Management Startup Goodera-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

SAIF, Nexus And Omidyar Backs CSR Management Startup Goodera-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

SAIF, Nexus And Omidyar Backs CSR Management Startup Goodera-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

SAIF, Nexus And Omidyar Backs CSR Management Startup Goodera-Inc42 Media
SAIF, Nexus And Omidyar Backs CSR Management Startup Goodera-Inc42 Media
You’re in Good company