Social learning platform, KarmaCircles has raised an undisclosed amount in seed funding at a valuation of $3 Mn (INR 20 Cr) Seed funding from Angel investors.
Investors who participated in the round include Harinder Takhar, Zain Raj, Dr. Prasad Kaipa, Abaran Deep, Aseem Sood and Mustafa Patni.
The funding will be used to increase user engagement and to roll out the enterprise version of the app.
Founded in 2015 by Deepak Goel, KarmaCircles offers its users the opportunity to offer and receive help from a global network of professionals. The platform has also introduced features like Karma Intro and Karma Network to add a measurement matrix that the platform facilitates.
Essentially, KarmaCircles is a mobile-app platform where users can request and leave messages for professionals for meetings and interactions through the Karma note feature. The platform issues Karma Points and recalculates your Karma Network after every interaction.
Talking about the funding, Deepak Goel, founder, KarmaCircles said, “The core foundation of the platform is built around the vision of networking and thread a long-term community through the benefits gained by the mentees and the enhanced reputation of the mentor. Further, we are introducing a white label solution under the enterprise segment. This will be targetted towards accelerators, business schools, and corporates to engage with a closed gated community.”
According to an official statement, the platform claims to have more than 5,000 organic users.
Dr. Prasad Kaipa, an investor in KarmaCircles said, “I invested in KarmaCircles because I could see that this company can be the next LinkedIn by creating Karma ripples for contributions you make to other people. It has the potential to be the next Wikipedia in relationship-to-value creation.”
KarmaCircles is available on the web and as an app on both iOS & Android platforms.