Online charity platform Donatekart has raised Rs 2.5 crore in a seed funding round led by LetsVenture.
Other investors who participated in the round include M S Unnikrishnan ( MD & CEO of Thermax ), Pravin Gandhi (Founding Partner of Seedfund), Arun Diaz (Advisor of Avishkaar), Pradeep Nair (Regional Director of Ford Foundation) among others.
As a part of the deal, Shanti Mohan, Founder of LetsVenture has joined the board of Donatekart.
The T-Hub, Hyderabad incubated startup will use the proceeds to ramp up its tech, scale team, and launch new product focused on corporates and CSR. The startup is also planning to foray into the US and UK and targeting raising Rs 100 crore donation in the next three years.
Donatekart was founded in 2016 by National Institute of Technology-Nagpur graduates Anil Kumar Reddy and Sandeep Sharma. It is essentially a crowdsourcing e-commerce platform that connects NGOs and donors.
It claims to bring 100 per cent transparency on its platform as donors can track their donation and Donatekart’s campaigns will keep updating the donors about the utilisation of products.
On the other hand, NGOs can create campaigns for their ongoing projects and display the projects for which they want to raise funds.
Since its inception, the Hyderabad-based startup claims to have delivered more than 2 million products worth 5 crores from over 34,000 donors to 450 NGOs across India.
During Kerala floods, Donatekart in partnership with T-Hub had raised more than 200 tonnes of relief material to help over 500 families.
The development was reported by TOI.