TheBetterIndia raises funding from ex Infoscian on May 16, 2015. The company publishes stories on change makers, unsung heroes, education, children, women empowerment, innovations, Arts & Culture, social development and travel.
TheBetterIndia is trying to leverage media and technology to generate revenue in different ways. The company claims to have half a million monthly readers, 100,000+ social media followers and 100+ writers contributing across India.
Bengaluru based TheBetterIndia founded in 2008 by husband and wife team of serial entrepreneur Dhimant Parekh and his wife Anuradha Parekh. Dhimant Parekh is a Bachelor of Engineering in Computer Science from Bangalore University in 2001. He has Master in Business Administration in Strategy, Leadership and Information Technology from Indian School of Business.
Dhimant has awarded with Social Media for Empowerment Award instituted by American Center and DEF India in 2014. He has received Manthan Award instituted by Digital Empowerment Foundation in 2011. In fact he Chairman’s Distinction Award for best alternative news content.
He started his career as Principal Engineer in Honeywell Technology Solutions in October 2001. Dhimant worked in the company for 4.6 years and moved as Product Manager in ibibo Web Pvt Ltd in June 2007. He moved on to become Associate Director for Products in the company. Dhimant worked with ibibo for almost 31 months.
In 2009 he became Associate Vice President in ngpay – India’s largest mall on mobile. He developed roadmap for products and features for mobile commerce for retailers and mobile banking for some of India’s leading banks. He forged partnerships with leading mobile phone manufacturers to increase reach of ngpay app.
In September 2011, Dhimant became head of product management for hoopos.com. The e-commerce website was into babies, kids and moms-to-be. It was acquired by Babyoye.com in June 2013. He became Senior Product Manager in Intuit.
Anuradha Parekh is co founder of TheBetterIndia. She has graduated in Bachelor of Engineering in RV College of Engineering; Bangalore affiliated to Visvesvaraya Technological University in 2002. She did her Masters in Business Administration in Finance, Strategy and Leadership from Indian School of Business in 2007.
She started her career as software developer in Infosys in 2003, worked in the company for a year. In 2007 she became Manager- Consulting and Valuations in Colliers International, she worked in the company for a year. In July 2008 she joined her husband Dhimant to start TheBetterIndia.
TheBetterIndia has raised an angel funding of Rs. 10 million ($159K) from Intellecap Impact Investment Network (I3N) or (I-cube-N) and co founder of Myntra and NudgeSpot Raveen Sastry. Mohandas Pai, ex-Infosys Chief Financial Officer and Chairman of Manipal Global Education has invested an undisclosed amount as funding today.
After funding Mr. Pai mentioned that “he had been reading and tweeting the articles of this website for a while and his interest in the venture led to him interacting with the founders on Twitter, before meeting them in-person and making this investment.”
Intellecap has taken up an equity stake in the company in lieu of its investments and apart from this investment Sohil Shah, one of the Intellecap employee has invested a small amount of investment.
After funding founder of TheBetterIndia said “We are seeing excellent traction for our content from readers across India, US, UK, Singapore and the Middle East. Our growing partnerships with large corporates have demonstrated that companies see tremendous value in using our platform to talk about various social causes.
“We are quickly scaling up traffic; plan to raise our next round of funding in 12 months, and look forward to creating a long-term strategic partnership with a large media or publishing house.”
Several startups in content business in India have raised funding includes NewsHunt funded Falcon Edge Capital, ScoopWhoop raised funds from Bharti Softbank to name a few.