Moneycontrol
Last Updated : Nov 27, 2017 08:07 PM IST | Source: Moneycontrol.com

MTV Dropout winner ERA bags Rs 25 lakh from Amit Patni & Venture Catalysts

ERA is an integrated identity management platform which provides its users a safe and secure way to share their identities.

Moneycontrol News 

The winning team of MTV’s recent startup show Dropout Pvt Ltd - ERA - has bagged investments of Rs 25 lakh from Amit Patni and Venture Catalysts.

ERA is an integrated identity management platform which provides its users a safe and secure way to share their identities.

Venture Catalysts also served as the investor and incubation partner for the show.

In addition to investing in the startup, it will mentor the entrepreneurs and host the team at its co-working facility for a duration of six months.

“Our decision to invest in ERA as a product was taken since blockchain is rapidly growing product segment in financial technology, and the market potential for such a product is significantly greater,” said Apoorv Ranjan Sharma, co-founder of Venture Catalysts.

Amit Patni of RAAY Global Investments said, “Blockchain is one of the most innovative and futuristic technologies at present, with massive implications in the Indian financial services and banking sectors.”

The company said that it will utilize the funds to hire technologists, build underlying technology and explore strategic partnerships.
First Published on Nov 27, 2017 08:07 pm
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