Trumpeting our Pre Series A round as we celebrate this vote of confidence
As we head towards the end of this year 2021, we feel glad to announce of our pre series A funding that shall help us traverse towards more empowering goals for the people of our valley. We are glad to let you know that the round was closed with multiple parties that included participation from our brethren Kashmiris who are settled in different parts of the globe. The round was led by Mr. Sandeep Patel, NEPRA with significant participation from Mr. Vikram Sanghvi, Mr. Saurabh Mittal, Mr. Kartik Desai, Mr. Anuj Sharma & Mr. Rohit Qamra besides our own non resident Kashmiris
This week we closed a pre series A round of about $ 100K for our messenger brand that is set out on a journey of serving the underserved and reaching the unreachable.
Earlier, we raised seed capital funds some 8 months ago in order to move to venture capital financing from bootstrapping and it gave a new direction to our expansion idea. Now moving to the pre series A urges the evolution in our domain
What got us there?
As a startup, there is uncertainty about what to pitch in the initial stage of Pre Series and what can make us stand out. A sustainable business model that is generating good amount of revenue amid the harshest socio-political scenario wouldn’t have been enough to get us there. An investor pitch deck matters a lot, but we being raw didn’t exactly knew the drill to hit the target. Then what got us there?
A story of 3 c’s that we painted in our pitch, it was clear, convincing and concise.
Why did we raise now?
While our brand focus is hyperlocal delivery through a tech based structure, the growth of our operations at this point of time was becoming necessary for us to reach the unreachable miles. Our presence and entry throughout different cities needed a boost and this round will help us unlock the gates and empower more un-empowered populations.
Where did we head from here?
While we closed this funding round that aimed towards expansion, we already made our entry into the winter capital of Jammu & Kashmir i.e. Jammu for growth and expansion. In the idea of our expansion in J&K itself, we researched around and identified the same problem of logistics existing in Jammu region too. Additionally, the market opportunity in winter season at Jammu becomes better than that in the summer capital, Srinagar. Thus, we have planned to take the empowering journey over there and already made a start on our operations.
What else does this news bring?
One bigger opportunity that this funding round brought along other than the idea of expansion is the employment generation. We have started hiring for the winter capital already and the next in queue is the team expansion plan in our headquarters in Kashmir.