Wishberry was the platform behind three startups so far, including educational guide Menstrupedia, and is starting to focus on tech product companies. Dubey plans to host pitch Saturdays at the office and hopes to fund 200 startups by the end of 2016. G One startup that is raising funds on Wishberry is Greenopia, which offers a gardening kit that allows you to track plant growth on smartphones.Its campaign runs on a rewards-based model, where funders will receive benefits such as smart pot kits, webinars with gardening experts and partner recognition.
“Crowdfunding connects you directly to people who don’t just buy your product, but become co-innovators early on,“ said Greenopia co-founder Mayukhini Pande.
While crowdfunding for startups is popular in the US, it is uncertain if it will work in India. “There isn’t a large enough early-adopter community here of individual consumers who are willing to buy a product in advance,“ said Sharad Sharma, a lead investor in Wishberry. “I don’t see it taking off imminently and wouldn’t advocate for startups to seek it.“According to research firm Massolution, $16.2 billion was raised through crowdfunding globally in 2014.