Impact Guru, a Mumbai based crowdfunding startup has raised a Seed round of $500K from Singapore VC, RB Investments and Southeast Asia private fund, Fundnel. The funds will be utilized to to scale social/donation crowdfunding (online) for nonprofits, social enterprises and personal causes.
An incubatee of Harward Innovation Lab’s Venture Initiation Program in USA in 2014, Impact Guru is offers a full stack crowdfunding solution that combines social or donation crowdfunding, rewards crowdfunding, and investment crowdfunding / fundraising for individuals, nonprofits, social enterprises, or startups for all their fundraising needs – be it small or large.
The startup has offices in Mumbai, New Delhi, Singapore, Hong Kong, Jakarta, Kuala Lumpur, and San Francisco.
“The traditional charity and social enterprise fundraising model in India is broken. The alternatives to online fundraising are outdated, expensive, and ineffective.” said Piyush Jain, Co-Founder and CEO of Impact Guru. “We firmly believe that a full stack crowdfunding solution that combines social, rewards and investment crowdfunding will make Impact Guru a platform of choice for all.”
The funds would help the startup to expand core team, to accelerate product development and sales and marketing efforts particularly for rewards crowdfunding for startups and social enterprises, and to build a larger community of donors, customers, and investors.
In fact, the deal aims to leverage engagement of both Impact Guru and Fundnel in the exchange and collaboration of relevant know-how in crowdfunding, technology and deal syndication.