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BharatFirst Technologies, the parent firm of spiritual lifestyle app Paavan, on Wednesday said that it has raised $500,000 (about ₹4 crore) in a seed round of funding, led by Waterbridge Ventures.
Other angel investors who participated in the round include India Fitso co-founder Saurabh Aggarwal, Giva co-founder Ishendra Agarwal, Animall co-founder Kirti Jangra, Quotient General Partner Anand Lunia, Credgencies co-founder Rishabh Goel, and Gocomet co-founder Chitransh Sahai.
The start-up, which was founded during the pandemic in 2021 by IIT Delhi alumni Sankalp Jain, Nitin Agrawal and Mohit Mittal, plans to utilise the funds to further enhance the product, create exclusive content IPs and hire talent across functions and verticals.
Paavan is a video-first content app that aims to act as a lifestyle guide for people in their quest to live a balanced. It has been downloaded over 3,00,000 downloads on Google Play, and claims to have more than 1,00,000 monthly active users. The app provides practical solutions for self-improvement or solving personal or professional conflicts, such as improving concentration or enhancing leadership skills.
“Going forward, Paavan aims to strengthen its content library for people of all age groups and cultural backgrounds. It is also working to produce videos in more Indian languages. The app currently offers Hindi-language content,” the statement said.
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