Tech Innovations is our latest partner for 'The Co-investment Program'

 

View this email in your browser

Mumbai Angels Network onboards Tech Innovations, a leading FinTech company as their newest partner for The Co-Investment Program 22nd, December, 2021: Mumbai Angels Network, a premium platform for early-stage investments, has onboarded Tech Innovations, a leading FinTech company that invests in emerging tech-led startups, as their latest partner for ‘The Co-Investment Program’. With this program, both Mumbai Angels Network & Tech Innovations will jointly invest in select, high-potential startups across FinTech, HealthTech, AgriTech & EdTech. The program aims to partner with like-minded networks and funds to facilitate faster access to capital for growth ramp up. Speaking on the latest development, Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network said, “Our Co-Investment Program is designed to identify high-potential startups and nurture them. Tech Innovations has over a decade of experience backing some of the best tech-driven startups thus making them a natural choice to onboard as our partners. We believe that their extensive knowledge will help us select a promising league of startups and we look forward to working with them, to enable the future of tech-led innovation.” “We are enthusiastic about our partnership with Mumbai Angels Network, which is on a mission to further fuel India’s growing startup ecosystem. The Co-investment program will enable us to combine our knowledge, best practices, network, experience, and capital. Our collaboration will also allow us to identify and nurture futuristic innovations made in India but are global by scale. Together, we believe that we can enable the exponential acceleration of such portfolio companies and unlock multiple synergies across sectors and value chains,” added Mr. Mahesh Ramachandran, CEO and Managing Director of Tech Innovations. The lead management team at Tech Innovations includes seasoned VCs and successful entrepreneurs with multiple million-dollar exits and they are keen to foster companies that bring disruptive innovations in India by investing in and mentoring them through a publicly listed vehicle.  About Mumbai Angels: Started in 2006, Mumbai Angels Network is India’s premier platform focused on new venture investing. Mumbai Angels today has a 190+ strong portfolio across sectors and cities across India. Of the overall portfolio the platform has exited/ secured the next round of funding for 100+ of them. Today, the platform has 650+ investors spread across 40+ Indian & Global cities.

Mumbai Angels Network welcomes Shiprocket, a tech-enabled logistics platform as their latest partner for The Co-Investment Program

 

View this email in your browser

Mumbai Angels Network welcomes Shiprocket, a tech-enabled logistics platform as their latest partner for The Co-Investment Program 20th, December, 2021: Mumbai Angels Network, a premium platform for early-stage investments, has onboarded Shiprocket, India’s leading tech-enabled logistics and fulfillment platform, as their latest partner for ‘The Co-Investment Program’. This program aims to partner with like-minded networks and funds to facilitate faster access to capital for growth ramp up.   Shiprocket has been working with D2C startups for over 5 years, helping create a strong, parallel infrastructure for logistics and shipping. With 1,00,000+ sellers and over 90% of D2C brands, they have been a reliable partner for growing D2C brands, enabling them to further expand their reach.   With ‘The Co-Investment Program’ Shiprocket and Mumbai Angels Network will identify startups with unique offerings that can top their respective subcategories or create new ones on their own while showing promising metrics in terms of revenue and profitability. Both partners are also keen on discovering startups with passionate founding teams, industry expertise and strong product portfolio that have an ability to expand their target user segments. Nandini Mansighka, Co-Founder & CEO, Mumbai Angels Network, said, “Since ‘The Co-Investment Program’ was launched to identify and support promising startups, we naturally look for partners that have extensive experience in dealing with early-stage startups. Shiprocket was the perfect choice for us, as they bring a wide spectrum of expertise alongside understanding the distribution and shipping needs of early-stage, fast-growing, and big D2C brands. We look forward to working with them.” “Startups in the growth stage require ample support not just in terms of capital but mentorship in nearly every aspect of the business. Our Rocketfuel Accelerator program has given the experience and understanding required to helping startups succeed. We are delighted to collaborate with Mumbai Angels Network for their innovative approach on ‘The Co-Investment Program’. Their vast portfolio of startups and extensive network of investors makes this a win-win situation. This partnership will not just be for closing deals together but will make startups more efficient, ultimately bolstering the ecosystem,” added Vishesh Khurana, Co-Founder - Growth,  Shiprocket. In 2020, Shiprocket launched its Rocketfuel Accelerator Program to support promising D2C startups with capital and mentorship. The program launched its second cohort in October 2021. Furthermore, Shiprocket’s founding team, Saahil Goel, Vishesh Khurana, Gautam Kapoor, and Akshay Gulati, are actively involved in working with D2C brands for investments/partnerships. About Mumbai Angels: Started in 2006, Mumbai Angels Network is India’s premier platform focused on new venture investing. Mumbai Angels today has a 190+ strong portfolio across sectors and cities across India. Of the overall portfolio the platform has exited/ secured the next round of funding for 100+ of them. Today the platform has 650+ investors spread across 40+ Indian & Global cities

Mumbai Angels Network invests in goSTOPS, a backpacker hostel brand.

 

View this email in your browser Mumbai Angels Network invests in goSTOPs, an Indian backpacker hostel brand raising an additional USD 1 mn 9th, December, 2021: Rapidly expanding backpacker hostel brand, goSTOPS, has raised an additional USD 1 mn bridge round within 6 months of the last million dollar Pre-Series-A round concluded earlier this year in June. Showing continued commitment, existing investors participated in this round, namely Mumbai Angels Network, The Chennai Angels, Yuj Ventures, Lead Angels, 1Crowd, Indian Angel Network along with new investors including Rohit Chanana of Sarcha Advisors. The additional bridge round will help the Company accelerate growth further given the strong tailwinds in youth leisure travel till it concludes its Series-A by June’22. The freshly infused funds will be utilized to aggressively acquire new budget hotels and rapidly grow its presence across the country. This move is in line with the renewed and rapid demand for strong post-COVID leisure travel that the youth are embarking on.   The Company aims to disrupt and grab leading market share in the USD 12 bn Indian youth leisure travel opportunities. goSTOPS leases and transforms budget hotels and operates them as backpacker hostels. The community and design-led hotel transformation enables the company to harness efficiencies of the shared economy and make high-quality youth-focused stays accessible within a Gen-Z friendly budget of INR 500 per night. Nandini Mansighka, Co-Founder & CEO, Mumbai Angels Network, said, “Today, travel enthusiasts seek exciting, high-quality travel experiences at more affordable prices. Lack of quality travel accommodation for youth is a big market-need gap and at a price-point of INR 500 per night, goSTOPS is focussed on addressing the belly of this large market. The company, with its strong consumer understanding and full-stack operator model, has clearly found a way of solving this problem at scale. Brand’s high customer satisfaction score and strong unit economics while rapidly expanding through the pandemic were reasons enough to convince us to further invest and up our commitment in goSTOPS.” Pallavi Agarwal, Founder and CEO, goSTOPS, commenting on the bridge funding, said, "goSTOPS has grown 2.5X QoQ to ARR of USD 2.5 million in October 2021. The new bridge funding will allow us to leverage the opportunity presented to us in a post pandemic India to provide experience-driven stays for travelers and grow to USD 5 million ARR by June 2022 – that’s 5x YoY growth through a pandemic. We intend to cater to the exponentially growing market of youth travellers in India, who have stepped out to explore the country after a very stress-inducing two years of the pandemic." Co-Founded by Pallavi Agarwal and Pankaj Parwanda in 2014, goSTOPS aims to provide affordable, fun, and unique stays to India’s youth travelers/backpackers. Operating across 27 destinations in India, goSTOPS has hosted over 500K guests. To cater to the unique preferences of this target audience, the company also recently launched its experiences wing goEXPERIENCES to offer treks, multi-destination tours and in-destination experiences. About Mumbai Angels: Started in 2006, Mumbai Angels Network is India's premier platform focused on new venture investing. Mumbai Angels today has a 190+ strong portfolio across sectors and cities across India. Of the overall portfolio the platform has exited/ secured the next round of funding for 100+ of them. Today, the platform has 650+ investors spread across 40+ Indian & Global cities

Mumbai Angels Network has invested in Sunfox Technologies, a Med-Tech R&D lab

 

View this email in your browser Mumbai Angels Network has invested in Sunfox Technologies, a Med-Tech R&D lab 02, December, 2021: Mumbai Angels Network, a premium platform for early-stage investments, along with Villgro USA and other investors, has invested in Sunfox Technologies, a Med-Tech R&D lab focused on developing portable, affordable, and minimalist medical devices for cardiac health. While the funding amount remains undisclosed, Sunfox Technologies will utilise the funds to expand the business PAN India, enhancing reach to last-mile users, and in scaling operations and their team. Building the most innovative Med-tech devices with a vision to impact the lives of a billion last-mile users, Sunfox Technologies is a burgeoning frugal and lean hardware technologies company to bring high-end technologies to the common man with ease. The company’s flagship product is Spandan, the smallest, smartest, lightest, and most economical AI-powered ECG machine. It is a matchbox size cardiac monitoring equipment that can monitor ECG with clinical-grade accuracy, detects 40+ abnormalities with edge-based AI algorithms, needs no expertise, and can be used as a point of care device anytime, anywhere. Sunfox Technologies aims to bring reliable technologies related to Biomedical Instrumentation, IoT, and other engineering domains. Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network, said “The pandemic has underscored the need for cutting-edge, cost-effective med-tech devices. Startups from tier-II and tier-III cities are now building high-tech solutions to solve crucial problems. Sunfox Technologies has been extremely capital efficient while making robust devices for cardiac health. It’s just the beginning of their journey, and we believe that the current round will enable them to scale their business and achieve their vision.” Rajat Jain, Founder of Sunfox Technologies, said, “At Sunfox Technologies, we have made it our mission to build cost-effective and state-of-the-art medical devices that can help patients avoid life-threatening situations and to make these devices more accessible. It is encouraging for early-stage startups to see marquee investors backing companies such as Sunfox Technologies from tier-II and tier-III cities. We are thrilled to have them be a part of our growth journey. We envision impacting grass-root users and saving over 100,000 lives from preventable heart attacks and by early diagnosis in the next few months in a pocket-friendly manner. The latest funding will help Sunfox to scale up PAN India, strengthen up the team, and foster deeper penetration till the last mile.” Nikhil Mendhi, Lead Investor for Sunfox Technologies. said  "Demand for affordable and accessible care is growing exponentially.  Cardiac arrests are one of the leading cause of deaths across the word and large percentage of these can be avoided by early-stage intervention.  As the lead investor in Sunfox Technologies's Spandan, an AI-powered ECG machine, I see an unparalleled affordable clinical-grade solution designed to transform cardiac care through early intervention and deliver better health outcomes." About Mumbai Angels: Started in 2006, Mumbai Angels Network is India’s premier platform focused on new venture investing.  Mumbai Angels today has a 190+ strong portfolio across sectors and cities across India. Of the overall portfolio the platform has exited/ secured the next round of funding for 100+ of them. Today the platform has 650+ investors spread across 40+ Indian & Global cities.

Jade Forest Raises 1 million USD Funding in a round led by Mumbai Angels Network

 

View this email in your browser

Jade Forest Raises 1 million USD Funding in a round led by Mumbai Angels Network

Launched by serial entrepreneurs Shuchir Suri and Punweet Singh, the brand is all set for further expansion and new launches New Delhi, November 2021: Jade Forest, one of India’s finest non-alcoholic beverage brands, has raised a funding of 1 million USD in a round led by Mumbai Angels Network, a premium platform for early-stage investments along with other investors. The funds will be utilized towards further geographical expansion and launch into the Ready-to-drink beverage segment.   Launched in August 2019 by 2 experienced entrepreneurs in the F&B industry - Shuchir Suri and Punweet Singh, the company has quickly risen to become a front-runner in the beverage space. Currently growing at 15-20% MoM, the brand is redefining how beverages are consumed. By successfully creating a range of great-tasting drinks that are low in calories and sugar without the use of any artificial ingredients, the brand was able to reach a larger audience, especially through the pandemic, which witnessed a sudden positive shift towards homegrown consumption of beverages. Consumers became a lot more aware of the ingredients that were listed on the backs of product labels and the need for “better-you-drinks” was what propelled overall sales. The products are currently priced between Rs. 80 & Rs. 85 for a 250ml glass bottle and are now available in all major metros in the country, taking consolidated presence to over 23 cities pan India. The company has previously raised a Seed round of USD 250K in November 2020 and has exceeded all target and milestone expectations since then.  An omnichannel sales approach; they sell through a number of offline retail channel partners and last-mile delivery platforms as well as through their own e-commerce website and Amazon. The brand has achieved strong organic growth and sales through a combination of an attractive product design and clear communication, along with a heavy emphasis on the correct product placement at all points of sales. Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels Network further added, “Today, the younger generation is constantly on the lookout for beverages that are low on sugar and carbs and yet please their taste buds. Jade Forest has managed to capture the attention of thousands of Millennials and Genz consumers and has established its presence in 23 cities in 2 years. This funding is a testament to the brand’s remarkable growth and progress. We believe that the fresh capital will allow them to achieve their goals, and further scale the business.” Co-founder, Punweet Singh had this to say, “Apart from this, we have invested and continue to grow our digital marketing efforts and hope to reach a larger consumer base. We use a combination of digital performance ads, social media content and brand collaborations and tie-ups.” The brand plans to expand their portfolio of drinks into different verticals as well as venture into the export market in the coming years.    “Post COVID the Indian consumer has not only become more health conscious but prefers homegrown products that are transparent with their ingredients and supply chain. We believe the market is massive and ripe for disruption and with Jade Forest we plan to capture the market with regular innovative launches.” Shuchir Suri, Co-Founder Jade Forest. About Jade Forest Jade Forest is a premium non-alcoholic beverage brand that has successfully created a range of great-tasting drinks by mixing botanicals that preserve their most authentic and raw form. Thoughtfully selected spices, fruit & herbs are used to impart flavor and purity in effervescent drinks that leave a sweet trail with each sip. Jade Forest does all this while making sure each product contains no artificial sweeteners, flavors, or colorings and is naturally low in calories and sugar. The brand has 5 products in their portfolio currently that are available in over 23 cities in retail pan India. Online Availability: https://www.jadeforest.in/

Mumbai Angels Network invests in Ezyschooling, a revolutionary platform for parents and schools

 

View this email in your browser

Mumbai Angels Network invests in Ezyschooling, a revolutionary platform for parents and schools Front-running investors including Meteor Ventures, India Accelerator, and Diligent Consulting also participated in the round 24, November, 2021: Mumbai Angels Network, Meteor Ventures, India Accelerator, Diligent Consulting, and Mohit Agrawal (NRI investor), have invested in Ezyschooling, an online, tech-enabled admission consulting platform for parents and schools. Ezyschooling will utilize the undisclosed amount towards expanding its network of parents and schools while creating new products and services to accommodate their requirements. The platform’s objectives are designed to make the lives of admission-seeking parents and schools looking to boost the number of applications easier by offering flexibility through tech-enabled solutions. “When it comes to school admissions, both parents and schools are often highly stressed, and the admission process turns out to be chaotic. Ezyschooling has dedicatedly been working towards making this more convenient through its sound tech infrastructure. This funding is a testament to their remarkable growth and innovative, tech-enabled solutions in bringing flexibility and ease to the admissions process. We are confident that the latest funding will allow them to scale the business further and augment their product offerings,” added Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network. “School admissions have always caused parents a great deal of anxiety and sleepless nights which makes platforms like Ezyschooling all the more necessary in the market. Ezyschooling is a great example of using technology to find new solutions to deal with the age-old problems that people face. As an investor, it is all the more exciting for me to be a part of Ezyschooling's onward journey, as they use the funds raised in this round to further enhance their vision of becoming India's foremost admissions platform,” said Angad Singh Bilochpura, CEO & Promoter of Estrela Inc Group, EG Ventures and Deal Lead for Ezyschooling. Commenced with a vision of creating a world for admission-seeking parents void of any uncertainties or reservations, Ezyschooling was founded in 2017 by Mayank Jain. Setting a stage for the onset of a revolution in the admissions space, the startup has been able to establish a self-sustaining network of parents and schools. Strongly advocating for parenting guidance, the platform offers the same through expert articles news updates, and discussion forums. So far, Ezyschooling has collaborated with 350+ schools and assisted 50,000+ parents in admissions in 5 major cities - Delhi, NCR, Pune, Bangalore, Mumbai, and Kolkata. The company has already strategized to expand its operations to more cities in the near future.   Mayank Jain and Krishna Kant Pandey, the co-founder and partnerships head who joined Ezyschooling in 2020, have contrived products like the Common Application form, which can be used to apply to multiple schools. The portal assists schools in completely digitalisation of their admission process by providing a personalised dashboard to each and every school to handle the complete admission process end to end. Moving further beyond their expertise in providing parental guidance, Ezyschooling has changed the fast-forwarded admission process by allowing parents to move through with their applications in a matter of just 15-30 mins instead of 15-20 days that they used to spend earlier. About Mumbai Angels Network Started in 2006, Mumbai Angels Network is India’s premier platform focused on new venture investing. Mumbai Angels today has a 180+ strong portfolio across sectors and cities across India. Of the overall portfolio, the platform has exited/ secured the next round of funding for 70+ of them. Today the platform has 550+ investors spread across 40+ cities within and outside India.

MA Network & FreeFlow Ventures Collaborate I The Co-investment Program

 

Mumbai Angels Network collaborates with FreeFlow Ventures  as a part of The Co-investment Program

This is the second association for Mumbai Angels Network, where the two investment platforms will collaborate to back select high potential startups

19, November, 2021: Post a successful collaboration for its first joint investment as a part of its co-investment program, Mumbai Angels Network, a premium platform for early-stage venture investments, has partnered with FreeFlow Ventures, a startup incubator and accelerator, and a government-affiliated organization. The two investment networks will co-invest in select startups that display a high growth potential. Startups chosen for the co-investment program will receive a myriad of benefits, including being a part of Mumbai Angels Network’s outreach for next-level investment conversations with eminent VCs, Strategics, and Family Offices. Additionally, the startups will be included in Mumbai Angels Network’s Multiplier Program, a new, exclusive marketplace for its portfolio companies. The co-investment program will also offer startups the chance to raise their next round of funding from Mumbai Angels Network, depending on their performance and capital efficiency.

Commenting on this, Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network, said, “Our co-investment program was launched with the aim of identifying and nurturing emerging, high-potential startups along with other investment networks/VCs by providing the required financial backing and mentoring. We are pleased to announce that we have partnered with FreeFlow Ventures to further expand our reach and co-invest in promising startups. This partnership will offer an unrestricted pass to startups for co-investment deals from both Mumbai Angels Network and FreeFlow Ventures, allowing them to scale their business and reach greater heights.”

“It is a collaborative world today, and true power comes from various people and organizations coming together with individual strengths. We are delighted to collaborate with Mumbai Angels Network for the co-investment program. Their vast network of 600+ investors and a highly curated portfolio, combined with our 300+ startups and 16 ventures, is a win-win situation and an excellent opportunity in the startup space. This partnership provides the perfect medium to not just close deals together but to make them more efficient, which is crucial for startups and their founders,” added Suraj Juneja, Founder of FreeFlow Ventures.

FreeFlow Ventures aims to allow all startups and investors in the ecosystem to come together and create mutually beneficial deals. A nationally accredited partner of Invest India, FreeFlow Ventures has also been one of the primary partners and facilitators at the Startup India Yatra in 21 states, with over 60,000 business ideas during the 2019 government initiative.

About Mumbai Angels:   Started in 2006, Mumbai Angels Network is India’s premier platform focused on new venture investing. Mumbai Angels today has a 180+ strong portfolio across sectors and cities across India. Of the overall portfolio, the platform has exited/ secured the next round of funding for 70 of them. Today the platform has 550+ investors spread across 40+ cities within and outside India.