Actor-director Rajat Kapoor, known for his films, such as Aankhon Dekhi and Mithya, is looking at crowd-funding to raise money for his upcoming projects.
Kapoor's Mithya Talkies has partnered Crowdera, a US-headquartered crowd funding platform with an office in India, to raise Rs 2.5 crore for his upcoming film, RKR Kay.
For the film, Kapoor seeks donations starting Rs 500 to Rs 10 lakh. Under crowd-funding, a large number of people contribute various amounts to fund a project or venture. In India, crowd-funding has been used mainly for social causes and non profit ventures.“I have been looking for money for the past three years to make films. But studios are generally not interested in films that do not have a star. So, I think this is a better mean,“ Kapoor told ET.
Chet Jain, founder of Crowdera, said crowd-funding is growing in India.“In the past one year that we are present in India, we have changed close to 30,000 lives. Last week, we raised Rs 20 lakh for a cancer patient in two days. There are people who are ready to give money for causes, and for us, supporting independent film makers to make good cinema is also a cause.“
According to Jain, Crowdera will help Mithya Talkies raise $2 million in the next three years for three films, and will also look at more partnerships to help 10 films through crowd-funding in the next three years.
“Through this partnership, we are extending our fundraising platform to Indian filmmakers struggling to raise money from studios,“ Jain added.
With increasing popularity of alternative viewing platforms, such as Netflix and Amazon Prime Video and other over the-top players, independent film ma kers in India also have a bigger opportunity to showcase their work.