[Funding alert] Haqdarshak social enterprise start-up closes Rs 6.65 Cr in pre-series A
Punesocial based business startup Haqdarshak Empowerment Solutions Private Limited (HESPL) closed their pre-series A round at Rs 6.65 crore.
Investors such as The Deepak Group, Impact India Investment Partners, Beyond Capital Fund, Shalini Chhabra and 3i Partners were part of the cycle, which closed this month. The cycle was launched in July 2020, led by Acumen Fund and supported by Upaya Social Ventures.
Looking at the current surge in COVID-19 cases, the company said it would use the funds to launch and expand services focused on immunization and last mile health insurance with a digital push and invest in plug-and-play technology tools. These services will mainly target migrants, day laborers, the urban poor and Indians in rural areas.
The funds will also be used to hire quality talent in the implementation and technical teams and to strengthen the current monitoring and evaluation process.
Aniket Doegar, CEO and Founder, Haqdarshak
Aniket Doegar, CEO and Founder, Haqdarshak, noted,
âOur commitment and vision to ensure that every citizen and small business in India has access to government programs and services is reinforced by this investment. We are focusing on our solutions for the COVID-19 response, services for MSMEs and new digital offerings for our last mile. This investment cycle will help us grow our core platforms and meet our goal of ensuring 100 million citizens have access to government financial services by 2030. â
Haqdarshak ensures that last mile citizens have access to public and private welfare programs and services. This is done via a mobile and web SaaS platform for partner companies supplemented by a training platform used by women entrepreneurs in the community. Haqdarshak recently launched its app on the Google Play Store.
The company was also recently selected in the CoVID 19 Action and is on the list of beneficiaries of the Omidyar Covid Relief teams. It has launched a multilingual helpline to help users register for immunizations, as well as link them to government health insurance that covers testing and hospital costs related to COVID-19.
Haqdarshak had already raised angel funds in May 2016 investors, including PR Ganapathy, former chairman of Villgro India; Ravi Saxena, MD,; Sandeep Raju, co-founder, Samaaru Pvt Ltd; Prabha Narasimhan, Executive Director, HUL; Ramesh Srinivasan, Senior Partner, McKinsey; and Ashish Goyal, Senior Managing Director at OMERS Capital Markets, among others.
Founded in 2016, Haqdarshak a reached more than a million families to date and supported more than 600,000 beneficiaries with social assistance schemes, while channeling Rs 500 crore ($ 67 million)) worth of benefits.
Its technology platform has digitized 7,000 social protection schemes and field operations are present in 22 states. One of Haqdarshak’s most recent initiatives is the launch of its MSME-focused platform to offer application support services for them to apply for eligible social assistance schemes.