Dealflow | February 7, 2019

Rise Fund and Elevar co-invest in positive news platform The Better India

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, February 6 – Social impact content platform The Better India raised its Series A investment round from TPG’s Rise Fund and Elevar Equity.

The Better India launched in 2008 to host and report on positive news and social impact initiatives across India. The content is posted in three languages and features stories covering locals fighting corruption, female Special Olympics athletes, and electrification of off-grid villages.

The company will use the new capital to post content in more languages and expand into e-commerce. The Better India’s founder Dhimant Parekh wrote that the goal of its e-commerce strategy is to fill a market access gap for small businesses and other organizations by leveraging The Better India’s audience and reach. “We aim to help the world discover great products… by writing about them, bringing them in front of our large audience and thus generating income for them.” 

Elevar Equity and The Rise Fund committed an undisclosed amount of capital to The Better India as part of a co-investment partnership. (VCCircle reports that the round was about $3.5 million.) The investors have also jointly backed Uruguayan fintech firm Bankingly, Argentinian literacy startup Grupo VI-DA, and Indian education venture LEAD.