The author has posted comments on this articleAnshul Dhamija, TNN | Oct 14, 2014, 07.17AM IST BANGALORE: Top technocrats and businessmen are betting their bucks on spirituality, as the $4 billion unorganized market comprising of myriad religious products, services, and offerings makes headway through internet commerce. Former Microsoft India Development Center MD Srini Koppulu, ex-CEO and cofounder of Sify.com R Ramaraj, Suresh Productions CEO and Hyderabad Angels vice chairman Suresh Babu and founder of Computer Age Management Services V Shankar are among are among 20 investors participating in an early round of investment into OnlinePrasad.
Bangalore-based onlineprasad.com is a niche e-tailer that is networked to 50 temples in India, and uses the mobile and web platforms to deliver religious offerings such as prasad and other products to one's doorstep.
The fund raise, which was oversubscribed, was structured through Hyderabad Angels along with participation from The Chennai Angels, two prominent angel networks in south India. Niraj Mital from Hyderabad Angels would be joining OnlinePrasad's board representing the larger investor group.
"There are a number of revenue possibilities in this space (spirituality) and the opportunities are big (for online)," said R Ramaraj, whose last venture was Sify, was the first Indian Internet company from India to list on NASDAQ.
Eighteen-month old OnlinePrasad started by 26-year old Goonjan Mall has been seed funded by the storied entrepreneur duo K Ganesh and Meena Ganesh and The Morpheus, a startup accelerator step by Nandini Hiranniah and Sameer Guglani.
Mall, who didn't wish to disclose the fund raise figures, said that the company would be using the fresh capital to scale up its front end and back end operations. In the next 12 months OnlinePrasad plans to grow its head count from 12 to 50 and double its temple network to 100.
Mall also said that plans were afoot to add around 10 new product categories, some which would include at-home astrology and pundit services.
"Though it's a niche ecommerce play , there has been a certain trust and belief that has been built around the business," said Sasidhar Nandigam, director at Hyderabad Angels.
Follow this link:
Top HNIs back spiritual e-tailer OnlinePrasad
- Book Excerpt: One Song - November 7th, 2009 [November 7th, 2009]
- Book Review: The Mitten Tree - November 7th, 2009 [November 7th, 2009]
- Book Review: The Monkey with a Bright Blue Bottom - November 7th, 2009 [November 7th, 2009]
- Book Review: Mama, Will It Snow Tonight? - November 7th, 2009 [November 7th, 2009]
- Book Review: There's No Such Thing as Monsters! - November 7th, 2009 [November 7th, 2009]
- DVD Feature Film Review: Perestroika - November 8th, 2009 [November 8th, 2009]
- DVD Feature Film Review: Nothing Like the Holidays - November 8th, 2009 [November 8th, 2009]
- Spiritual Literacy Blog: Must We Have Bad Music in Public Spaces? - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Angels and Dragons - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: A Soul's Journey - November 8th, 2009 [November 8th, 2009]
- Book Review: A Book of Hours - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: A Book of Hours - November 8th, 2009 [November 8th, 2009]
- Feature Film Review: Storm - November 8th, 2009 [November 8th, 2009]
- Feature Film Review: Skin - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: The Anger Diet - November 8th, 2009 [November 8th, 2009]
- Newsletter: October 31, 2009: The Abbot Who Declared The Hall Is Finished - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Suffering and the Courage of God - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Life-Changing Affirmations - November 8th, 2009 [November 8th, 2009]
- DVD Feature Film Review: The Answer Man - November 8th, 2009 [November 8th, 2009]
- DVD Feature Film Review: The Dead - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Five Voices, Five Faiths - November 8th, 2009 [November 8th, 2009]
- DVD Feature Film Review: Lemon Tree (Etz Limon) - November 8th, 2009 [November 8th, 2009]
- DVD Documentary Film Review: Unmistaken Child - November 8th, 2009 [November 8th, 2009]
- DVD Documentary Film Review: Food, Inc. - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: The Workplace Revolution - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Journeys of Courage - November 8th, 2009 [November 8th, 2009]
- Feature Film Review: The Men Who Stare at Goats - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: The Gift of Prayer - November 8th, 2009 [November 8th, 2009]
- Feature Film Review: That Evening Sun - November 8th, 2009 [November 8th, 2009]
- Feature Film Review: The Box - November 8th, 2009 [November 8th, 2009]
- Relax and Melt into a deep deep meditative state. - November 8th, 2009 [November 8th, 2009]
- Symptoms of Anxiety - November 8th, 2009 [November 8th, 2009]
- Nonduality And Spirituality---Enlightenment - November 8th, 2009 [November 8th, 2009]
- How Not to Stop Anxiety Attacks---Part 1 - November 8th, 2009 [November 8th, 2009]
- Natural Treatment for Anxiety disorders--Antidote anxiety - November 8th, 2009 [November 8th, 2009]
- What to do When Anxiety Attacks--Antidote Anxiety - November 8th, 2009 [November 8th, 2009]
- Spiritually charged metaphysical spiritual quote - November 8th, 2009 [November 8th, 2009]
- Release Technique & Non Duality& Law of attraction - November 8th, 2009 [November 8th, 2009]
- NonDuality & Manifestation - November 8th, 2009 [November 8th, 2009]
- All Is One, One is All !! - November 8th, 2009 [November 8th, 2009]
- Worrying about Anxiety---Antidote Anxiety - November 8th, 2009 [November 8th, 2009]
- Free course on Conquering Anxiety - November 8th, 2009 [November 8th, 2009]
- Manifesting Prosperity,Love manifesting,Dream Manifesting - November 8th, 2009 [November 8th, 2009]
- Stress and Anxiety Relief Treatment - November 8th, 2009 [November 8th, 2009]
- Stress and Anxiety Reduction with Brainwave entrainment - November 8th, 2009 [November 8th, 2009]
- How to Remove feeling of Fear and Anxiety - November 8th, 2009 [November 8th, 2009]
- Relieve Stress:Financial Troubles, Low Self Esteem - November 8th, 2009 [November 8th, 2009]
- Meditation, Enlightenment & Paradox - November 8th, 2009 [November 8th, 2009]
- False beliefs and Emotional Healing to develop emotional intelligence - November 8th, 2009 [November 8th, 2009]
- Millionaire Mind- Meditations Manifesting Abundance - November 8th, 2009 [November 8th, 2009]
- Three Essential requirements to learn Self Hypnosis Quickly - November 8th, 2009 [November 8th, 2009]
- Non duality and manifestation--Law of attraction - November 8th, 2009 [November 8th, 2009]
- Law of Attraction-- Manifesting Wealth Beyond Reason - November 8th, 2009 [November 8th, 2009]
- The Secret Busted--- Flaws of the Secret. - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Web of Silence - December 12th, 2009 [December 12th, 2009]
- Living Spiritual Teachers Project: Byron Katie - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: Before Tomorrow - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Sadhu Sundar Singh - December 13th, 2009 [December 13th, 2009]
- Spiritual Literacy Blog: We May Be Born with an Urge to Help - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: Everybody's Fine - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: Brothers - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: Gigante - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: When People Grieve - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: The Light and Fire of the Baal Shem Tov - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: The Last Station - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: Up in the Air - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Learning to Pray - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Beyond Absence - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Ecology & Liberation - December 13th, 2009 [December 13th, 2009]
- Book Feature: The Best Spiritual Books of 2009 (So Far) - December 13th, 2009 [December 13th, 2009]
- DVD Feature Film Review: Julie & Julia - December 13th, 2009 [December 13th, 2009]
- DVD Documentary Film Review: The Cove - December 13th, 2009 [December 13th, 2009]
- DVD Feature Film Review: Harry Potter and the Half-Blood Prince - December 13th, 2009 [December 13th, 2009]
- Book Review: Spirit of Service - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Spirit of Service - December 13th, 2009 [December 13th, 2009]
- Book Review: The Wolf at Twilight - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: The Wolf at Twilight - December 13th, 2009 [December 13th, 2009]
- Book Review: Memories of Muhammad - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Memories of Muhammad - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Humility Matters for Practicing The Spiritual Life - December 13th, 2009 [December 13th, 2009]