Top 9 Crowdfunding Sites In India For Startups To Raise Funds
Crowdfunding sites in India are helping innovators launch ideas, social entrepreneurs bring social change and startups raise funds. Most startups, small enterprises, and individuals avoid complex methods of raising funds. Raising money through bank loans, venture capital, and angel investors involve complicated procedures.
Moreover, before raising money, startups have to take into account the different funding stages to decide the mode of raising funds. Crowdfunding is a far easy and less complex model.
Here are 9 crowdfunding sites in India that are shaping the way ideas and startups grow:
Kickstarter is one of the first crowdfunding sites in India. The platform is most known for creative projects. Films, books, research, and innovation are some of the kinds of campaigns that are often seen on this platform.
From edible cutlery to a photographic series on Indian deities, to wearable health tech for social impact, Kickstarter supports myriad initiatives. The campaigners are also expected to offer different rewards for different categories of funds to the donors.
Some of the successful campaigns on Kickstarter: The Sweet Requiem campaign – a film that narrates the story of a Tibetan woman living in India and her traumatic escape from Tibet – saw 296 backers with a pledge of $ 33,889.
Another project, Edible Cutlery: The Future of Eco-Friendly Utensils had more than 9000 backers who pledged $ 278,874.
Focus areas: creativity and merchandising
Purpose/mission: to bring creative projects to life
For those looking to fund creative projects, Wishberry is the platform to go to. The website is strictly for creative projects only. Art, comics, publishing, theatre, music and dance, the platform supports all projects, creative.
It also helps campaigners with consulting and marketing services. Like Kickstarter, Wishberry is also a rewards-based platform. Funders and donors receive rewards from the projects that they fund.
Focus area: creative projects
Purpose/mission: to bring creative and innovative ideas to life and build a community of patrons for creative ideas in India.
Indiegogo is more than a crowdfunding site. It is funding and a marketplace platform. Here, raising funds is the first step. Following a successful crowdfunding campaign, campaigners can take their idea to the next level to continue raising funds.
Next, the campaigners can sell their products directly to the Indiegogo network of consumers. The platform focuses on actual physical products, as compared to other platforms that fund initiatives and ideas.
Focus area: product innovation, bring innovative ideas to life
Purpose/mission: to be a launchpad for entrepreneurial ideas
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A rewards-based crowdfunding platform, FuelADream gives campaigners the choice of AON (All Or Nothing) and KWYG (Keep What You Get). It is a platform that believes in “quality more than quantity”, as stated on its website.
A number of crowdfunding platforms face the issue of authenticity and genuineness of the campaigns posted on the platform. FuelADream keeps the number of projects less, in order to tackle this issue. A section called ‘Crowd Favourite’ lists the most-liked and most-funded campaigns.
Focus area: creative ideas, causes, charities, events, and community-led activities
Purpose/mission: to change the traditional methods and simplify raising fund
One of the few crowdfunding sites in India that completely focuses on small businesses and enterprises, Fundable features campaigns across business sectors in India. The platform features campaigns across business sectors.
From raising funds for affordable clinical diagnoses to intellectual travel experiences within India, entrepreneurs and businesses across sectors have used the platform. Among other sectors are banking, travel, food, and beverage, and fitness. A section ‘New and Noteworthy’ ensures that people who want to support can browse through the newest and most engaging campaigns.
Focus area: small businesses
Purpose/mission: to help get businesses funded
With a wide range of focus, Ketto is among the well-known crowdfunding sites in India. The platform features campaigns for health care, education, personal campaigns, animal welfare, sports, children and women empowerment. To make it easier for donors, Ketto has sections such as ‘Urgently Fund Required’ and campaigns that can provide ‘Tax Benefit’ to donors.
Some of the successfully funded campaigns on the platform include those for the Kerala Floods and a project titled, ‘Two Wheels of Hope’, which provided cycles for schoolgirls, among other campaigns.
Focus area: creative, entrepreneurial, NGOs, personal causes, education
Purpose/mission: bring social change, raise awareness, raise funds
From startups, films, music, and technology, Catapooolt is a platform for funding personal projects or enterprises and businesses. It is more than a crowdfunding platform as it offers options for campaigners to partner within their network of investors, incubators, accelerators, mentors, and for marketing, distribution and sales and community endorsements. This makes the platform, as it claims, a comprehensive ecosystem for crowdfunding.
Focus area: individual projects, startups, enterprises
Purpose/mission: provide an ecosystem for crowdfunding
8. Milaap – crowdfunding for personal and social causes
Most preferred for raising funds for personal and social causes, Milaap is a platform for individuals, NGOs and social entrepreneurs to raise funds for causes. The platform offers micro-loans to people in rural and underserved regions in the country to support projects related to education, water, sanitation, health, and energy.
Focus area: low-income borrowers, small funds for social causes and enterprises
Purpose/mission: to offer micro-loans to rural India
Perhaps lesser known in comparison to other names among the crowdfunding sites in India, Crowdera is a completely free global crowdfunding platform that launched in India in 2016. Being free, the platform does not charge any commission from those who start campaigns and raise funds.
It is privately funded by the founders. Moreover, this crowdfunding site allows a wide bracket of campaign fund targets ranging from a minimum goal of Rs 500 and a maximum goal of Rs 99,999,999.
Focus areas: social, individual causes and enterprises
Purpose/mission: to build a ‘Giving Economy’
Great ideas and startups need a boost with funding. And with the increasing number of crowdfunding sites in India, founders and innovators have a range of options to choose from.
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