Wishberg, the Mumbai based consumer startup that allows users to build their ‘One wishlist for Life’ has raised an undisclosed amount of money from India Quotient, an early stage venture capital firm started by former Seedfund executive director Anand Lunia, reports Medianama.
The story earlier reported by Startup Central informed that early June, Anand closed its debut fund at Rs. 30 crore (under $5 million with present rates) while raising it from institutional investors such as Omidyar Network, SIDBI, Times Internet, Ronnie Screwvala’s Unilazer Ventures and a bunch of local family offices.
Besides India Quotient has investment from notable entrepreneurs such as One97 founder Vijay Shekhar Sharma, Vishal Mehta and Kashyap Dalal, Founders of eCommerce companies Infibeam and Inkfruit respectively, Jaydeep Barman, Founder of fast food chain Faasos, Brainvisa Technologies Founder Vikas Kumar, Sigma Corporation Co-Founder Ashok Mittal and Carwale Founder Mohit Dubey.
While talking to StartupCentral, Anand informed the India Quotient team is headlined by venture partner Madhukar Sinha, who was earlier with Aavishkaar, and Jaydeep Barman and Elizabeth Chapman on the investment committee. The company has already done 12 deals and might do another 7-8 deals in the near future. 60 percent of the existing funds have been invested and along with Wishberg which rebranded itself at the end of 2012 from Tyche’d (pronounced as “Tai-Kee”). InBetween, a quick food startup that specializes in sandwiches has also received undisclosed round of funding.
Of late Wishberg has been on a roll bringing in required features and trashing the ones that have not shown response from users. In the month of August it pivoted from its original idea of curating wishes to a simple wishing platform.
Besides this the startup has discontinued the Shop Mobs feature that was introduced earlier this year. Launched during March, Wishberg had plans to connect the users by creating city wise meetups depending on their wishes/demands and finally enabling them to complete the transactions together so that they can avail benefits by collective buying.
Last month, the startup introduced a new feature – Future Timeline, which allows users to add a date to every wish and map it to their Future Timeline. This allows users to visualize the future story of their life by giving deadlines to their wishes and effectively turning them into goals for life. The wishes are plotted on to a future timeline, while the wishes completed by the users are marked to their past timeline.