Delhi-based entertainment app Roast has secured an undisclosed amount of funding from Indian Angel Network (IAN) under the ‘Small Ticket Funding programme’, which was announced by IAN last year to help raise seed capitals for early-stage startups.
Sanjay Mehta has led this round of investment on behalf of IAN and will join the company board for further mentoring the team.
Mehta said, “The concept of Roast is new and one of its kind. We have always believed in supporting unique ideas that have the potential to disrupt. Roast is targeted at users that spend most of their time online for consuming information across subjects. With video-on-demand service providers also exploring India as a mature market clearly defines the market potential for Roast. IAN’s investment in Roast is testimony of the trust we lay in the entrepreneurs and their relevance in the current market scenario.”
Roast was launched last year in September to offer an entertainment platform to the audience by Anchal Singh & Aamer Rushnaiwala.
“We wanted to create an ecosystem where users can fly in, write, coupled with a sheer reading experience. Our aim is to be a premiere micro-sharing entertainment platform on mobile, catering to the ‘entertainment in short’ need of witty Indians,” said Singh, co-founder of Roast.
She added, “ IAN investors have not only mentored us but have also been a great support in guiding us and helping us make the right decisions for our business,”
The ‘Small Ticket Funding’ program was started last year offers a fixed investment amount of Rs 25 lakh ($39,888) at a fixed valuation of Rs 2.5 crore ($398,883) post investment. It aims to provide funds to the aspiring entrepreneurs and support unique, innovative and scalable ideas which have the potential to become globally relevant and successful businesses.
Roast caters to a specific need of people who love to talk, converse and take a stand on anything and everything. The application is Internet’s all-in-one grilling depot that features ROFL station, comedy corner, lol terminal and one-stop ‘entertainment in short’ destination.
In this fast pace age, where users have a very short attention span, Roast provides the perfect blend of entertainment and emotion.