Chaaipani - an internet media startup closes an angel funding round

Dhruv Bindhani · Wednesday at 10:00 PM

mp_connect said:
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.

The article from January 3, 2018, announces that Chaaipani Media, an internet media startup supported by GUSEC, has successfully closed an undisclosed angel funding round.

Here's a breakdown of the key information:

1. Chaaipani Media Overview:

What it is: An internet media company focusing on positive, solution-oriented stories.
Content focus: Social Impact, Entrepreneurship/Leadership, Innovation, and Arts.
Founder: Shruti Chaturvedi, 23 years old at the time, from Ahmedabad. She started Chaaipani in October 2015. She has a Psychology degree and a journalism diploma, and previously worked as a journalist and news anchor.
Vision: To highlight stories of people doing good work, amplify positive initiatives, and ensure fact-checked content about "real heroes."
Revenue Model: Primarily from advertisements on the website and events hosted.
Team: 7 people at the time, with plans to expand to 13 by March 2018.

2. Angel Funding Round:

Amount: Undisclosed.
Investors: A group of independent and seasoned entrepreneurs, including:
- 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)
- Pankaj Maloo (Founder, Kreative Fingers)
Investment Instrument: Compulsory Convertible Debenture (CCD). This is a hybrid financial instrument that starts as debt but must convert into equity shares by a specified date or upon certain events. For companies, it's a way to raise capital without immediately diluting equity or having to make cash repayments of principal. For investors, it offers interest income initially and guaranteed equity ownership later.
Future Outlook: More investors were expected to join by the beginning of the next financial year.

3. Use of Funding:

Build high-quality video content.
Enhance its distribution platform.
Strengthen technology infrastructure.
Set up a community-driven network for content verification and authentication.

4. GUSEC's Role (Gujarat University Startup & Entrepreneurship Council):

Chaaipani was initially incubated and is currently virtually incubated by GUSEC.
GUSEC's Mission: India's first "zero-day, zero-cost" startup support system, promoted by Gujarat University. It aims to convert higher education students into entrepreneurs by providing early-stage startup support.
Infrastructure: Boasts a 30,000 sq ft state-of-the-art infrastructure in Ahmedabad.
Funding: Independently operated and funded by Gujarat University and the state government.
Vice-Chancellor's Quote: Himanshu Pandya, Vice-Chancellor of Gujarat University, praised Shruti Chaturvedi's growth and highlighted GUSEC's success in fostering the startup ecosystem.

5. Community Engagement and Offline Initiatives:

Chaaipani's focus is to build a curated, engaged community audience through online and offline storytelling.
"Kitli Conversations": An offline meet-up format that became popular in Tier 2 and 3 cities across India, with 35 meets hosted within a year.

Chaaipani - an internet media startup closes an angel funding round

Dhruv Bindhani

Active member