Exclusive: GHV seed-funds RoadGods & PindropMusic
Startup accelerator Green House Ventures (GHV) has invested $100,000 (around Rs 67 lakh) each in travel gear startup RoadGods and music discovery app PindropMusic.
The two startups will use the funds raised for product enhancement and upping marketing spend. GHV will assist the startups with resources and infrastructure within a controlled environment, Vikram Upadhyaya, who is GHV's chief mentor and accelerator evangelist, told Techcircle.in.
PindropMusic, run by Delhi-based Pindrop Music App Pvt Ltd, allows users to discover music on the basis of their location, weather, time of the day and mood. The startup was founded by Prankush Roopanwal, Sumit Chakraborty and Vishu Gupta in November last year. PindropMusic also enables emerging artists to displaying their music as 'pindrops' to relevant users. Artists receive real-time usage statistics on the listeners' responses.
"PindropMusic has created an ecosystem that will alter the way people listen to music. Besides, it holds the potential to become a really efficient tool for emerging artists who find it difficult to showcase themselves when starting out," Upadhyaya said.
Since inception, the startup's app has been downloaded about 10,000 times and users have played 7,000 hours of music, the company claims. The app is presently available on the iOS platform.
RoadGods, founded by Apoorv Mangalam and Ashish Kumar in 2014, designs road travel accessories and sells the products through its online platform. RoadGods' product range includes helmets, car music system, trekking rucksacks and motorcycle baggage, besides other items. It also functions as a marketplace for third-party gear. RoadGods claims to have a registered customer base of 4,200 clients. It in-house products also retail on horizontal e-tailers such as Flipkart and Snapdeal.
GHV Accelerator was launched by serial entrepreneur and Indian Angel Network member Upadhyaya. GHV mentors startups that are between the incubation and venture capital stage, and also provides them with $100,000 in seed funding. It has put money in LazyLad, MyTaxiIndia, Foodport, Pick My Laundry and FitMeIn, besides other tech startups. In December, GHV invested in two startups â€“ Applop and CaRPM. GHV's aim is to on-board 25 startups by early 2017.