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Crowd-funding platform, Catapooolt, is looking to raise a Series A funding to the tune of $ 1 million.
Details of the funding are expected to be fixed over the next two to three months, Satish Kataria, Managing Director, Catapooolt, said.
Crowd funding refers to the process of raising money to fund what is typically a project or business venture through many donors using an online platform
Launched in July 2013, the crowd-funding platform itself has raised a seed round of $250,000 from VentureNursery Angels, Calcutta Angels, ah! Angels, and some other industry professionals.
“We are exploring options of raising Series A funding to the tune of $1 million,” he said on the sidelines of a seminar – ‘Funding Innovation’ – organised by the Confederation of Indian Industry (CII).
Catapooolt has so far taken up 40-plus projects and has raised around Rs 1.3 crore through 2,000-plus contributors. Around 15 per cent of the funds raised for these projects is from outside India.
The platform has raised around Rs 10.20 lakh for a film, Cut-Throat, and was also the official crowd-funding supporter for AAP (Aam Aadmi Party).
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