Zipgrid gets $200,000 equity financing from 1Crowd

MUMBAI: Community services platform Zipgrid today announced it has raised $200,000 in equity financing from 1Crowd, an ecosystem for startups.

Zipgrid, co-founded by Jaydip Popat (formerly with Firstsource Solutions) and Kunal Gupta (formerly with Mapletree Investments) operates so far in Mumbai and Ahmedabad, and serves over 70 housing communities.

Its range of services includes accounting and finance, compliance and control management solutions.

Zipgrid community solutions aim to optimise costs, through its commerce solutions and is now looking to expand its footprint and invest in strengthening technology and operations, it said in a statement here.

"Seventy two per cent of consuming households in India reside in top 49 urban agglomerations and 2/3rd of these households are part of organised housing communities. We are preparing ourselves to take on the immense untapped opportunity of collective consumption at these communities by creating value for all stakeholders," said Kunal Gupta.

The company is 'sector agnostic' and works with both B2C and B2B startups.

1Crowd co-invests and engages with portfolio companies in areas of organisation building, strategy and in sales and marketing.