OnlineRTI gets Rs 1 crore funding from Mohandas Pai, others
BENGALURU: OnlineRTI, an online service to file Right to Information (RTI) applications, said it received another round of angel funding of Rs 1 crore from online deal making platform LetsVenture, Mohandas Pai, and other existing investors.
Pai, who is the chairman of Manipal Global Education Services, invested through LetsVenture. He joined the platform in October as an adviser and investor, along with Ratan Tata, emeritus chairman of Tata Sons.
“The mass adoption of the internet economy is having a transformative impact within India and OnlineRTI is leveraging that to simplify a process of obtaining and applying for RTI. They are raising funds on LetsVenture for the second time,” LetsVenture chief executive Shanti Mohan said.
Mohan, who was an existing investor, also took part in the funding round in a personal capacity. Other investors include Nipun Goyal, president IIFL, Bhupen Shah, co-founder of Sling Media and early stage investment firm Oilphans Capital.
OnlineRTI, started by Pradeep Bhatt of IIT Bombay and Vinod Ranganathan of NIT Duragapur in 2014, currently has about 120,000 applications from its portal. About 40,000 applications have been processed to the government while the rest is pending as the customers have not made the requisite payments. The funding would help the company for product development and marketing, Bhatt told TOI.