Omidyar Network Makes Six New Investments that Address the Needs of the “Next Half Billion”
Over the next five years, 500 million first-time internet users are expected to come online via their mobile phones in India. This online mobile population is often called the “Next Half Billion” (NHB). Omidyar Network recently announced six new investments in the first four months of 2018–Doubtnut, Pratilipi, Healofy, Vedantu, Kaleidofin, and Affordplan–all of which align with the firm’s goal of supporting entrepreneurs that serve the Next Half Billion.
“Omidyar Network is looking to support early-stage businesses with the potential of creating access to jobs, education, healthcare, transportation, financial services, and government services for the NHB,” said Roopa Kudva, Omidyar Network partner and managing director, India. “Our recently published study on the NHB highlighted the impediments this population faces and how their needs differ from the existing middle class. The study analysed the language, social, cultural, affordability, trust, and confidence barriers that the NHB encounter, and these investments highlight six companies that are addressing those barriers in a variety of ways.”
Photo courtesy of Jared Cherup.