Total amount raised
$1.4 Millions
Latest funding date
05/01/2015
Location
Milaap has successfully raised funds through multiple rounds, supported by a diverse group of investors. The platform is a leading crowdfunding site in India, primarily focused on medical emergencies and social causes.
Keep reading to explore the intricacies of Milaap's fundraising journey and the investors backing this impactful platform.
What Is Milaap?
Milaap, founded on June 1, 2010, is India's largest crowdfunding platform for personal causes. The company allows individuals to raise funds for medical emergencies, education, sports, disaster relief, and other personal needs.
Based in Singapore, Milaap was established by Anoj Viswanathan, Mayukh Choudhury, and Sourabh Sharma. The platform also operates in Bangalore, Karnataka, India.
With a team of 101-250 employees, Milaap continues to support various social causes through its user-friendly website and mobile application.
How Much Funding Has Milaap Raised?
- Seed Round
- Amount Raised: $75K
- Date: September 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and begin operations.
- Seed Round
- Amount Raised: $75K
- Date: September 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand initial operations and increase user base.
- Seed Round
- Amount Raised: $100K
- Date: February 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance service offerings.
- Venture Round
- Amount Raised: $1.1M
- Date: July 2013
- Lead Investors: Jungle Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand engineering and marketing investments to enhance the online product experience and scale up marketing efforts.
- Funding Round
- Amount Raised: Not publicly disclosed
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support platform expansion and increase reach.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance service offerings.
Total Amount Raised: $1.35M
Current Valuation: Not publicly disclosed
Key Investors
- Jungle Ventures
- Details: Jungle Ventures is a Singapore-based venture capital firm that invests in early to growth-stage companies across Southeast Asia and India.
- Investment Focus Areas: Technology, consumer brands, financial services.
- Notable Investments: Kredivo, Livspace, Moglix.
- Khosla Impact
- Details: Khosla Impact is a venture capital firm that focuses on investing in companies that aim to improve the lives of people in emerging markets.
- Investment Focus Areas: Healthcare, education, financial services.
- Notable Investments: Driptech, Embrace Innovations, Varthana.
- Saurabh Nanavati
- Details: Saurabh Nanavati is an individual investor known for his involvement in various startups and impact-focused ventures.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
- Toivo Annus
- Details: Toivo Annus was an individual investor and co-founder of Skype, known for his investments in technology startups.
- Investment Focus Areas: Technology, software, telecommunications.
- Notable Investments: Skype, Pipedrive, GrabCAD.
- Unitus Seed Fund
- Details: Unitus Seed Fund is a venture capital firm that provides seed funding to startups focused on improving the lives of low-income populations in India.
- Investment Focus Areas: Healthcare, education, financial services.
- Notable Investments: Hippocampus Learning Centres, Medypal, GoCoop.
What's Next for Milaap?
The future for Milaap looks promising as they continue to expand their engineering and marketing investments. With a focus on enhancing the online product experience, the platform is poised to scale up its marketing efforts and reach a broader audience. This expansion presents significant opportunities for growth, particularly in rural and semi-urban areas of India.
As Milaap demonstrates success, there is potential for additional rounds of venture funding. The increasing interest in impact investing and financial inclusion could attract more investors, providing the necessary capital to further develop the platform. However, Milaap may face challenges such as competition from other online lending platforms and regulatory hurdles.
Despite these challenges, Milaap's commitment to leveraging technology and forming strategic partnerships positions them well for future growth. The platform's ability to navigate these obstacles will be crucial in maintaining its impact and continuing to support underserved populations.
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