Aiming to increase its user engagement and roll out the enterprise version of the app, peer-to-peer social learning platform, KarmaCircles has raised an undisclosed amount in seed funding at a valuation of $3 Mn (INR 20 Cr) from angel investors.
The investors, who participated in the round include, Harinder Takhar, Zain Raj, Dr. Prasad Kaipa, Abaran Deep, Aseem Sood and Mustafa Patni.
Deepak Goel, founder, KarmaCircles said, “The core foundation of the platform is built around the vision of networking and thread a long-term community through the benefits gained by the mentees and the enhanced reputation of the mentor.”
KarmaCircles is a mobile-app platform where users can request and leave messages for professionals for meetings and interactions through the Karma note feature. The platform issues Karma Points and recalculates your Karma Network after every interaction.
“Further, we are introducing a white label solution under the enterprise segment. This will be targeted towards accelerators, business schools, and corporates to engage with a closed gated community,” added Goel.
The platform claims to have more than 5,000 organic users according to the official statement. KarmaCircles is available on the web and as an app on both iOS & Android platforms.
Founded in 2015 by Deepak Goel, it offers its users the opportunity to offer and receive help from a global network of professionals. The platform has also introduced features like Karma Intro and Karma Network to add a measurement matrix that the platform facilitates.
Dr. Prasad Kaipa, an investor in KarmaCircles said, “I invested in KarmaCircles because I could see that this company can be the next LinkedIn by creating Karma ripples for contributions you make to other people. It has the potential to be the next Wikipedia in relationship-to-value creation.”