Bangalore-based The Better India Pvt Ltd, which runs a news website focusing on social issues under the same brand, has raised $160,000 (Rs 1 crore) in funding from members of angel network Intellecap Impact Investment Network (I-cube-N), a company statement said. Investors include Raveen Sastry, a co-founder of e-commerce portal Myntra.
The site claims to have over 500,000 visitors on its website every month.
The company was started in July 2008 by husband-wife duo Dhimant and Anuradha Parekh, both engineers. Dhimant previously worked at Honeywell Technology Solutions, ibibo Group, Ngpay, Hoopos and Intuit, while Anuradha earlier worked at companies such as Infosys and Colliers International.
The Better India publishes narratives of/about unsung heroes, change makers, innovations, educators, women empowerment, history, arts & culture, social development, etc.
“We are seeing traction for our content from readers across India, the US, the UK, Singapore and the Middle East,” Dhimant said.
The company claims to have over 100 writers as contributors from across the country.
The company's business model and future growth plans could not be immediately ascertained.
Intellecap launched I-cube-N in September 2011 with the support from International Finance Corporation. I-cube-N was established to build a community of experienced angel investors who can provide equity capital of up to $1 million in very early-stage for-profit social enterprises in the sectors of agriculture, clean energy, water & sanitation, education, financial services and healthcare.
In February 2013, Kolkata-based startup iKure Techsoft Pvt Ltd, which provides tech solutions for delivery of healthcare services in rural areas, received an undisclosed amount in angel funding through I-cube-N.
(Edited by Joby Puthuparampil Johnson)