ETtechBidawatka told ET that the company plans to use the proceeds from the deal to build a global team and enhance its technology, emphasising that since it is focused on creating a tech-driven product, the team will remain small. It currently has a team of 11 members with plans to expand to 15 by early next year.
“The idea is to create digital consumer products for users worldwide by addressing underserved needs and problems that we all face irrespective of age. It’s a mobile app being developed for the global smartphone market,” he said.
Started in August, the Bengaluru-based company is currently accepting sign-ups. The first product is slated to have its beta launch in early next year for a select few users initially. The app will be available on both Android and iPhone devices.
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The product is designed to address an existing need with deep tech involved and has no Indian competitors, said Bidawatka. "The unit that this particular product will deal with is in trillions," he said without disclosing the specifics of the application.
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"There are very few consumer tech companies being created at this time. Most of the companies you see are business-to-business (B2B). Only a few serial entrepreneurs in the consumer tech space are also developing global products,” he added.
Bidawatka’s previous startup, Koo, which was founded in 2020 along with Aprameya Radhakrishna, shut down this year after unsuccessful rounds of talks for a potential sale or merger with several companies, including Dailyhunt.
Commenting on the investment, Karthik Reddy, partner at Blume Ventures, said, “Billion Hearts aims to create digital products for a global user base. The first product is slated for a beta launch in a few months. While the product is still in stealth, it deals with a wide use case that’s relevant for all smartphone users around the world, across age groups.”
“We back audacious entrepreneurs building global products with positive and powerful impact. Mayank and the Billion Hearts team have insight and a distinctive approach toward building a solution that caters to a wide and unmet need of users globally,” said Neeraj Arora, managing director at General Catalyst.
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