Archive - July 2015

Ketto and Lakme Fashion Week – for the Masses

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Fashion evokes different reactions from different people. To most people, it stands for Haute Couture or ‘high fashion’. They interpret this as a mish-mash of designs, trends, accessories and fabrics targeted at the rich and famous. A wrong perception that has endured through the years, and which hurts the fashion industry and consumers alike… Because, in reality, not all fashion is elitist, or fancy.

In the last decade or more, a whole new generation of designers has emerged in India that is interpreting fashion in more socially-relevant ways. These highly talented designers are creating sustainable, eco-friendly, affordable, and conscientious fashion that celebrates diversity, Indian culture, women’s empowerment, a globalized world, and several concepts that affect the lives of the common Indian. These designers are using Fashion as a medium to eliminate the gender, class and community divide which has been a defining aspect of Indian society, unfortunately.

That is why, when some of these designers approached Ketto to raise funds for an upcoming event, Ketto was more than happy to be associated with it.

Lakme Fashion Week (LFW) is a bi-annual fashion event that happens every February and August, in Mumbai. As a hallmark event of the fashion industry, LFW brings not only designers, textile, jewelry and leather product manufacturers, but also several celebrities, socialites and bloggers together, creating a huge launch-pad for fashion designers. In the past, LFW has been instrumental in launching reputed designers/brands such as Rahul Mishra, Nachiket Barve, Masaba Gupta, Kallol Dutta and Aneeth Arora among others.

The 20th edition of the event happening on 26th August 2015, which is the Winter/Festive edition, will see over 500 young designers participate in the event and showcase their creations. Being a high-profile event, designers have to bear significant expenses for creating their designs, marketing collateral, publicity in online and print media as well as managing logistics, team management, and networking needs.

Seven of these participating designers: Shivangi Sahni, Ajay Kumar, Kriti Tula, Ishita Mangal, Charchit Bafna, Jebin Johny and Siddhartha Bansal have chosen Ketto’s crowdfunding platform to raise funds for the event. Each of these designers are unique in their own way and their creations stands out in the crowd.

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Ketto created a unique page for each of these designers so that they could express their ideals and desires in their own words.

With 5 more weeks to go for the event, we are confident these designers will be able to generate the desired funds from like-minded people who appreciate and identify with such causes.

Ketto targets $100m by crowdfunding; gets $700k investment led by Calcutta Angels & The Chennai Angels

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July 16, 2015, Mumbai

Mumbai based crowdfunding platform for social, personal and creative projects – Ketto has raised $700k in funding led by Pradyumna Dalmia, deal champion of Calcutta Angels and Sudhir Rao, deal champion of The Chennai Angels and co-founder of IndusAge Partners.

The other investors in the round include – Singapore Angel Network, Anupam Mittal, Indian Internet Fund, Letsventure, Chennai Angels, Calcutta Angels, Intellecap Impact Investment Network (I3N), Ah Ventures, and Project Guerrilla.

With the infused funds, the startup plans to double its technology and business development team with an aim to reach $100m in volumes by crowdfunding.

Ketto also plans to expand operations in Singapore, Indonesia, Malaysia, among other South-East Asian countries.

Founded in October, 2012 by Varun Sheth, Bollywood actor Kunal Kapoor and Zaheer Adenwala, Ketto is Asia’s largest crowdfunding platform for social, personal and creative projects, according to crowdsurfer.com.

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The company has witnessed a growth of 3000% year-on-year basis in terms of volumes, and in the past few months, has been crowdfunding close to a crore monthly.

In the last 12 months, multiple celebrities & corporates have backed various projects by raising funds on Ketto. The list includes names like – Hritik Roshan, Amitabh Bachchan, Anuskha Sharma, Myntra, StarSports, among others.

Recently, Ketto has created first-of-its-kind partnership with Lakme Fashion Week – to provide a platform to the seven Gen Next designers to garner funds to launch their label at the upcoming showcase in August, 2015 in Mumbai.

With global crowdfunding market estimated to reach $96bn by 2025, and Asia being the key growth driver, Ketto is uniquely positioned to amass maximum support for a project of any kind – be it disaster, social, technology, creative or personal.

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