AlmaConnect has received angel funding of $250,000, roughly six months back from CIIE – IIM Ahmedabad, IXORA Ventures, CountShop.com, Dharmendra Yashovardhan (Co-Founder, IXIGO), a few other angel investors & family & friends.
AlmaConnect is a product based company started in 2011. It has been founded by Swapnil Khandelwal & Rubish Gupta, both 2009 graduates from DA-IICT (Dhirubhai Ambani Institute of Information & Communication Technology). Before AlmaConnect, Swapnil was running a startup in the online tutoring space & Rubish was working as web technology evangelist in a startup.
The company is an alumni of CIIE’s iAccelerator batch of 2011 and has also been awarded incubation from CEID, DA-IICT along with a seed funding of $50,000
AlmaConnect helps in connecting institutes and alumni. The key problem AlmaConnect is addressing is of providing a platform connecting alumis and colleges. Currently, AlmaConnect has 45 institutes across the country paying an annual subscription cost for using the platform to connect to their alumni.
The startup is utilizing this investment in product development for further enhancing reach, scalability & engagement. Very soon, the company is going to launch a freemium version of the product with which any verified alumni of an institute can start an alumni network of the institute and until a specific number of users the platform can be used without any subscription cost. Following which the company would be looking to raise the next round of investment to improvise on the strong traction & huge opportunity that is being seen.