Undergraduate student startup Bookvala raises $180K at a valuation of $1.8M in an ideation round led by leading investors in India.
The startup will use the funds for technology building and bolster its presence in the Indian market, along with focusing on its base team, which will carry the company’s name forward.
Investors participating in this round include Avidity Services Pvt. Ltd., Mr. Hemant Wadhwa, Director of Unicom India Pvt Ltd, Ms. Prabhdeep, Partner of The Little Seekers, Mr. Rajeev Gupta, Director Godavri Trading Co Pvt Ltd and Angel investor Mr. Rajesh Bansal.
An India-based startup with a focus on revolutionizing the book industry, Bookvala, has raised $180K in Ideation round to build the next generation of startups and use blockchain technology to modernize the book industry.
Bookvala is a student-led startup recognized by Startup India. Bookvala is from Books to Blockchain, wherein senior secondary students can buy and resell their books in 3 minutes with the innovation of a coin-based system and can trade in crypto. The founders include Varun Bali, Raghav Bali, and co-founders Lakshay Kalra and Ujjwal Pratap Singh, who are undergraduate students from Chitkara University.
The young, brilliant minds back off from placements and decide to build their startup and set an example for the youth of the nation.
Varun and Raghav Bali started working on their dream after class 12th. Later, Lakshay and Ujjwal joined them in the 2nd year of their college, and then they used to do internships at the night to run their startup.
Bookvala, headquartered in Chandigarh, is a platform that allows users to purchase, resell, and trade in cryptocurrency using books. The platform is based on a coin-based paradigm. They have the goal of being the first cryptocurrency trading platform geared just toward students.