"We've built a multi-million dollar company and have grown 500% year-on-year," chief executive Mudagal told ET. "And this is our way of giving back to the startup ecosystem." The company will use its profit money to invest in startups, the founders said, adding that a venture arm will be floated by the end of this year to make angel and seed investments.GoodWorkLabs, set up in 2013, develops apps and products for its clients. The company has been profitable from its second year of operations. It will focus on investing in startups for the next five years, the founders said.

Source: Economic Times February 21, 2017 03:55 UTC