Chaaipani - an internet media startup closes an angel funding round

by Management Paradise on Wednesday 3 January 2018, 7:15 PM | Category: Women Entrepreneurs| View: 341 views
 
 
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Chaaipani - an internet media startup closes an angel funding round 

AHMEDABAD, JANUARY 03, 2018: GUSEC-supported Chaaipani Media, an internet media
company that features positive, solution-oriented stories on important issues, has raised an
undisclosed amount of funding in an angel round. The company was started by Shruti
Chaturvedi, 23, from Ahmedabad.
 
Chaaipani is an internet media platform that features progressive, solution-oriented stories
around Social Impact, Entrepreneurship/Leadership, Innovation, and Arts.
 
The investment is made by independent and seasoned entrepreneurs like Mr. Bhupesh
Chowdary (CEO, Powermech), Mr. Chiranjiv Patel (MD, PC Snehal Group), Yogesh Chaudhary
(Director, Jaipur Rugs), Mr. Prabhu Ram (Founder, Paynear), Mr. Yogesh Goyal (Director, RTG
Ventures), Rahul Agarwal (Founder, Idea Insurances) and Pankaj Maloo (Founder, Kreative
Fingers).
 
The company plans to use the funding to build high-quality video content, enhance it's
distribution platform as well as strengthen its technology infrastructure. The investment will also
be used to set-up a community-driven network to verify and authenticate content shared on the
website.
 
"For us, supporting startups and innovations is a key priority and we believe young
entrepreneurs and innovators will make the future of our country. Our universities are the best
place to support early-stage startups, and we are proud that a startup supported by GUSEC has
raised an angel fund from such experienced entrepreneurs. I have personally witnessed the
growth of Shruti and her venture, and her story is an incredible testament to what early-stage
startup support systems could do for our country's startup ecosystem," said Himanshu Pandya,
the Vice-Chancellor of Gujarat University.
 
The company had been earlier incubated by Gujarat University Startup & Entrepreneurship
Council (GUSEC) — a GU promoted initiative to support startups, and Chaaipani is currently
virtually incubated at GUSEC.
 
“We started with the singular vision to highlight stories of people doing good work, and make it
reach out to others who can join hands and amplify initiatives that are making our world better.
Over time, we have become stringent about the background check and verification of every
story that is published, ensuring our readers get stories of fact-checked, real heroes.
We will continue to practice constructive storytelling, without fear or favour”, says Shruti Chaturvedi.
Shruti, who launched Chaaipani in October 2015 from Ahmedabad, began her career as a
journalist from Ahmedabad.
 
She has also been a popular news anchor in a Gujarat-based national news channel. She is a Psychology graduate from St. Xavier's College in Ahmedabad and has been honoured with awards such as Build India Award and Karamveer Global Fellowship for her work with Chaaipani.
 
The company's focus now is to build a curated, engaged community audience through online
and offline storytelling. Kitli Conversation's, an offline meet-up format by Chaaipani, went very
popular with tier 2 and 3 cities of India. The company hosted 35 Kitli Conversation meets within
a year across India.
 
Chaaipani primarily generates revenues from advertisements on the site and the events it hosts.
 
The platform is run by 7 people which shall tick to 13 by March'18.
 
The company used Compulsory Convertible Debenture instrument, and more investors are
expected to join in by the beginning of next financial year.
 
Gujarat University Startup and Entrepreneurship Council (GUSEC) is India's first zero-day,
zero-cost startup support system promoted by Gujarat University. Currently supporting over 50
startups in the University campus, GUSEC boasts of a state-of-the-art infrastructure spread
across 30,000 sq ft in the heart of the World Heritage City of Ahmedabad. GUSEC is
independently operated, and funded by GU and state government.
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