Mayank Bidawatka’s New Venture Billion Hearts Secures $250K in Angel Round
- ByStartupStory | September 18, 2024
Mayank Bidawatka, co-founder of the now-defunct microblogging platform Koo, has launched a new venture called Billion Hearts Software Technologies. The company has successfully raised $250,000 in an angel investment round, with backing from 13 prominent investors.
Billion Hearts Software Technologies aims to develop a consumer application that is currently in stealth mode. The venture’s product is set to address a global multibillion-dollar market opportunity. The beta version of the product is expected to be available for select users between December this year and January next year.
Bidawatka shared with Economic Times (ET), “We just closed an angel investment round of $250,000. We will create consumer digital products for global users. This is still in stealth. The market size for the first product we will launch is basically the smartphone users of the world. It is a very wide use case and has deep tech involved.”
According to Bidawatka, the Indian market alone represents a billion-dollar revenue opportunity. He did not disclose further specifics about the product but emphasized its potential: “In India itself this is a billion-dollar revenue opportunity.”
The new venture has attracted significant attention and investment from a diverse group of angel investors. These include prominent figures such as Puneet Chawla, founder of Jaypore; Ankit Bhati, co-founder of Ola; and Piyush Shah, founder of InMobi. Each investor has expressed optimism about the venture’s prospects.
Puneet Chawla noted, “I was a part of the first round. It is a population scale product with a unique proposition. Anybody with a smartphone will find use for this consumer app and I don’t think this has been attempted before. It’s an exciting problem statement and the beta version will be out soon.”
Ankit Bhati commented, “He’s (Bidawatka) identified a unique insight that can make this a highly sought after product in a very short span of time. Ideas like these can be extremely disruptive and I look forward to seeing his vision come to life.”
Darshit Vora, partner at Acherman Capital, highlighted the product’s appeal to younger users: “It is a product for gen Z smartphone users. It’s been under development for two months.”
Phanindra Sama, founder of redBus, who has previously collaborated with Bidawatka, praised the innovation: “The product is innovative and one-of-its-kind. It’s peerless and there’s no product like this currently in the market.”
Narasimha Reddy, CFO of MoEngage, expressed his enthusiasm for the product’s global applicability: “It is a global use case not specifically restricted to any particular market, which smartphone users globally encounter on a frequent basis.”
Reflecting on his experience with Koo, Bidawatka said, “The biggest learning from Koo is to start monetising as early as possible. It helps the startup become self-sufficient and independent of the need for funds.”
Billion Hearts Software Technologies is currently operating with a team of ten employees and plans to expand to fifteen. The team’s expertise includes backend development, Android, iOS, and machine learning. For now, the company is working remotely but is looking for co-working space in Bengaluru’s Indiranagar.
The impressive lineup of investors also includes Mekin Maheshwari, former CTO of Flipkart; Rekuram Varadharaj, co-founder of healthi; Nithin Chandra, director of product at Facebook; Bhaskar Raju, Engineering Head at Rattle; Nizamabad Angels; Darshit Vora, partner at Acherman Capital; and Vibhore Sharma, partner at Capital 2B.
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