Haqdarshak, Social Entrepreneur of The Year, Secures Funding to Bridge Citizens with Welfare Schemes
- ByStartupStory | April 26, 2023
Haqdarshak, a social impact startup that links citizens with government initiatives, has announced an undisclosed sum of investment to conclude its Pre-Series A1 round. Along with 22 other investors, new institutional investors such as the Innovating Justice Fund and the Village Capital-managed Financial Health Innovation Fund have joined the cap table.
Noteworthy investors in Haqdarshak include Abhishek Rungta, the Founder and CEO of INT, Deep Bajaj, the Co-founder of Sirona Hygiene, Bhavin Pandya, the Co-founder and CEO of Games 24X7, Morpheus Ananta, Bindu Subramaniam (Singer-Songwriter), Girish Kulkarni, and Mohit Bajaj. In January, Haqdarshak participated in Shark Tank India (Season-2), and secured Rs 1 crore in funding from panelists such as Namita Thapar, Peyush Bansal, and Aman Gupta.
The round, which concluded in March 2023, included participation from existing investors such as The Deepak Group, Acumen Fund, Beyond Capital Fund, Shalini Chhabra, 3i Partners, and Mukund Santhanam. Haqdarshak, established by Aniket Deogar in 2015, is leveraging technology and a last-mile field agent network of ‘Haqdarshaks’ (most of whom are women) to bridge the information and access gap between citizens and social protection services.
The funds raised from this round will be allocated toward investing in technology and talent, with a particular emphasis on expanding the Yojana Card, which is a digitally enabled social security card that allows beneficiaries to access welfare services for their families and businesses via a single channel facilitated by last-mile assistance. “The investment funds will help us build tech infrastructure for the Yojana Card platform with government integrations, software and hardware to scale, with marketing expenses towards user acquisition,” stated Aniket Doegar, Haqdarshak’s CEO and Founder.
Haqdarshak, a digital platform that aims to provide welfare services and financial inclusion products to families in India, plans to reach two million families in the next 12 months. The platform is already present in 24 Indian states, with over 30,000 trained agents providing benefits worth over Rs 4,200 crore to 2.7 million families through its digital portals available in 11 vernacular languages. Haqdarshak aims to impact 100 million Indians by 2030.
Haqdarshak, a digital platform in India, is actively working to promote the adoption of climate-friendly subsidies and programs introduced by the government. The company has been awarded a design funding grant by Convergence, a global network for blended finance, to develop models aimed at encouraging the adoption of climate-friendly assets among farmers in rural India. Aniket Deogar, the founder of Haqdarshak, was awarded the 2022 edition of the Social Entrepreneur of The Year (SEOY) award, which is presented annually by the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation (JBF).
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