Mayank Bidawatka raises USD 250K to launch 'Billion Hearts'

Mayank Bidawatka, Co-founder of the now-defunct Indian social media platform Koo, is launching a new venture called Billion Hearts Software Technologies. The venture has already raised USD 2,50,000 in angel funding from consumer tech founders of redBus, Ola, InMobi, Myntra, MoEngage, Jaypore, Udhyam and Healthi, among others.

Billion Hearts will create digital consumer products for the global market. The company stated in a note that its first product is likely to be launched by the end of this year. 

“Billion Hearts as a name represents the dreams of many. And hopefully the usage of billions of users around the world for whom this startup will build beautiful digital products,” Bidawatka stated in a LinkedIn post on Tuesday.

Media reports suggest the company is raising nearly USD 500,000 in pre-seed funding to kickstart operations. Reports quoting filings with the Registrar of Companies (RoC) also indicate that the board of Billion Hearts passed a resolution to raise Rs 4.13 crore. The company has already raised Rs 1.94 crore by issuing its founders 39 pre-seed compulsory convertible preference shares (CCPS). However, Bidawatka denied these claims, categorically telling Voice&Data via WhatsApp that “the information is wrong.” 

The New Venture

Bidawatka confirmed that the company was registered on 29 September 2024, and it has a 15-member team working on building the new product. He also indicated that the product will be first accessible to those who sign up for the beta version on its website. Bidawatka, however, refused to share any further details, saying that they were working on a “stealth” mode.

Regarding his investment in the new venture, Phanindra Sama, Co-founder, redBus, said, “Mayank has proven himself to be an innovator, and Billion Hearts seems like an exciting project. Creating meaningful social connections is a huge challenge, but I believe his experience with Koo will be valuable.” 

Ankit Bhati, Co-founder, Ola, echoed this optimism. “The social networking space is evolving, and with Mayank’s entrepreneurial spirit, I am excited to see where Billion Hearts goes. Given the lessons from Koo, this platform could have a real impact if executed well,” Bhati commented.

Bidawatka's previous venture, Koo, launched in 2020, sought to be India’s homegrown alternative to Twitter. It received initial traction, especially during heightened demand for local social media platforms. However, Koo encountered operational and financial difficulties, culminating in its shutdown in July 2023. Co-founder Aprameya Radhakrishna officially announced its closure in a LinkedIn post, attributing it to unsuccessful merger discussions with potential buyers.