Awesummly, a Real-Time Summarised News Platform, Raises Rs 1 Cr in Funding
Other startups pitched on the platform included Mokshill, a personalised end-to-end funeral management service platform and Ubunanny, an online marketplace for quality day-cares and pre-schools for young parents.
The Vault, a one-of-its-kind reality TV show, gave flight to the entrepreneurial journey of yet another promising start-up, while also offering valuable insights to others. Awesummly, a platform that features real-time summarised news with the assistance of artificial intelligence, bagged Rs 1 crore in investment from Vivek Bhargava, CEO, iProspect and Ameera Shah, Owner, Metropolis Healthcare against 30 percent equity in the company.
The captivating episode took the audience by storm when the first pitch of the episode, Khabri, a voice-over news platform failed to unlock The Vault in its initial pitch. Though, with the entry of Awesummly, both were given an equal chance to pitch their business ideas to the investors. While Khabri received the scroll for in-house mentorship from TLABS, Awesummly was awarded two investment offers from Mohit Goel, CEO, Omaxe Group as well as from the duo of Vivek Bhargava and Ameera Shah. Through successive negotiations, the co-founders of Awesummly accepted the offer of INR 1 crore from the latter with 30 percent equity in the company.
Jatin Goel, Creator – The Vault said, “Investments made by the market doyens reflect the true potential and scalability of business ideas that are being presented on The Vault. As the show becomes an enabler of dreams for entrepreneurs hailing from all parts of the country, we expect more and more promising business ventures to take-off onto their successful commercial journey through this platform. We congratulate the team at Awesummly and wish them all the best in the next phase of their growth journey.”
Other startups pitched on the platform included Mokshill, a personalised end-to-end funeral management service platform and Ubunanny, an online marketplace for quality day-cares and pre-schools for young parents. While Mokshill was not able to receive any offer from the investors, Ubunanny received incubation from Jaarvis Accelerator. Aimed at promoting entrepreneurship in India, The Vault has facilitated investments of more than 6 crore to the start-ups featured on the show.