Mumbai Angels and others invests USD 1.5 Mn seed round for Fintech startup Minko

 

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Mumbai Angels and others invests USD 1.5 Mn seed round for Fintech startup Minko Mumbai, January 28, 2022: Mumbai Angels, a premium platform for early-stage investments, has invested in Minko, a Fintech startup offering credit to retail shops, along with LetsVenture, and Kunal Shah, Founder of CRED, in a seed funding round led by LC Nueva. Minko will utilize the funding to strengthen its team by hiring talent for its technology and sales verticals and expanding its footprint across India. Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels, said, “We see a growing need for instant and seamless credit facilities, especially for retailers. We believe our portfolio company Minko is a game changer making access to digital credit a simple and efficient process.” “We are thrilled to be backed by eminent investors in our journey to enable retailers to access low-cost instant credit through a simple process. Especially for offline retailers, there is a large gap in the credit system, and easy access to a digital credit line would be immensely beneficial. We are now looking to augment our offerings further and for this, team strength, talent, and reach are necessary. We will continue to enhance our products and expand our presence in new markets in the country,” added Sanket Shendure, Co-Founder of Minko. About Mumbai Angels Started in 2006, Mumbai Angel 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 60+ cities across the globe. About Minko Founded by Sanket Shendure and Sanmati Shendure, Minko began product development in January 2021 and has achieved a remarkable growth trajectory. Besides its flagship product Minko Credit, the company has also added three new products in six months – Minko Invoices, Minko QR Code, and Minko Gold. Currently present in Goa, Maharashtra, and Bihar, Minko aims to expand to other states this year and onboard 100,000 retailers and distributors onto its platform.

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LegalKart raises INR 4Cr in Pre-Series A round from Mumbai Angels and IIM Udaipur Incubation Center

 

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LegalKart raises INR 4Cr in Pre-Series A round from Mumbai Angels and IIM Udaipur Incubation Center 21, January, 2022: Mumbai Angels, a premium platform for early-stage investments, has invested in LegalKart, a Gurgaon-based legal-tech startup, as a part of the Pre Series A round along with IIM Udaipur Incubation Center. The company plans to utilize the funds to develop new tech products for customers with AI, ML capabilities, to create instant access to legal support while also creating awareness about the platform. Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels said, “Legal-tech in India is a late bloomer, but a rapidly growing sector, optimizing legal processes and operations for businesses; with unique solutions that have plagued the industry for decades. LegalKart has been instrumental in bringing about an efficient legal-tech system. We are confident that the freshly infused capital will allow them to scale and reach greater heights.” Dr. Arvind Singhatiya, Founder and CEO of LegalKart, said, “This decade is dedicated to legal technology globally, and we intend to redefine the way legal services are accessed and delivered in India by creating an engaging customer journey for any law-related matter. We aspire to ultimately morph into an end-to-end Legal support and service ecosystem and we are thrilled to have an eminent investor like Mumbai Angels coming on board to invest and mentor the company. We believe we are now ready to further ramp up our technical operations to the next level.” Kannan Soundararajan, CEO, IIMUIC, said, “As our country grows by leaps and bounds, easy and quality access to legal advice and support is very essential to everyone and LegalKart is  working on enabling this.” 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 60+ Global cities. About Legalkart Founded in 2018 by National Law University (Jodhpur) alumni Dr. Arvind Singhatiya, LegalKart is an instant 24x7 Legal advice platform offering a transparent and democratic legal access available in more than 8 Indian languages across the country through its proprietary technology. LegalKart aims to provide an affordable yet high-skilled Legal advice on demand providing affordable documentation and Property Legal Management services at more than 900 locations including multiple cities, districts and remote locations in India. With more than 100,000 customers onboard, Legalkart also facilitates legal professionals to practice and give legal advice through its Legal Practice Management Lawyers App.

Aerostrovilos Energy, a Mumbai Angels Portfolio Company secures INR 3.5Cr as part of its seed round

 

Aerostrovilos Energy, a Mumbai Angels Portfolio Company secures INR 3.5Cr as part of its seed round

19, January 2022: Mumbai Angels Portfolio Company, Aerostrovilos Energy, an IIT Madras-incubated organization, has secured its seed round of funding of INR 3.5 Cr from Tube Investment of India, a Murugappa Group Company. Working on developing Micro Gas Turbines (MGT) with the National Centre for Combustion Research (NCCR) at IIT Madras, Aerostrovilos Energy is building an MGT-based powertrain solution for heavy-duty trucks and power generation at reduced costs. The company will be utilizing the funds for the completion of its solution, prototype manufacturing, and a trial run of MGT-based heavy vehicles.

“Aerostrovilos Energy is creating a clean technology solution with lower levels of emissions which has large scale application. We are excited to have been a part of their growth since the time it began as a project and believe that the funding will support product development and launch,” added Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels.

Rohit Grover, CEO of Aerostrovilos Energy, said, ‘’Air pollution levels are soaring across the world, and both corporations and governments are actively looking for clean technology solutions. Gas Turbines have the cleanest emission levels void of any soot or particulate matter. At Aerostrovilos Energy, we are committed to solving this issue through minimal emission turbines. We are thrilled to have secured this round of funding as it will allow us to lay the foundation to achieve our goals.``

About Mumbai Angels: Starting in 2006, Mumbai Angels 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 60+ Global cities.

Mumbai Angels Network participates in USD 750K round for Eduncle

 

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Mumbai Angels Network participates in USD 750K round for Eduncle, a fast growing education platform for IIT JAM, UGC NET and CSIR NET 12, January, 2022: Mumbai Angels, a premium platform for early-stage investments along with Ah! Ventures, KareKaBa Ventures and others, participated in a USD 750K round for Eduncle.com, a fast-growing online learning platform for IIT JAM, UGC NET and CSIR NET. Eduncle will be utilizing the freshly infused capital to achieve its expansion objectives and to develop new products for additional exams, commence live classes, and bolster its tech infrastructure. The platform also plans on augmenting its doubt-solving features with the integration of AI and ML. “With the Ed-tech space witnessing cut-throat competition, the need for unique solutions is greater than ever before, and Eduncle is doing just that. The platform has seen 2x growth in its student base, paid subscribers, and revenue in the last 12 months while being extremely capital efficient. Eduncle’s offerings have become increasingly robust in recent times, making high-quality education accessible to all. We believe that the fresh capital will allow them to achieve their goals and reach greater heights,” added Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network. Arpit Pareek, Co-Founder, and COO of Eduncle said, “Eduncle was founded with the aim of providing easier access to quality learning for every aspirant in India. Our holistic approach to learning solutions makes Eduncle a one-of-a-kind platform in the league of Ed-tech apps, and it is highly scalable as well. Our platform provides learners with end-to-end test preparation and guidance for higher education with multiple features such as live classes, video lectures, printed material, automated doubt solutions, and test series combined with personalized one-on-one mentorship sessions. We are elated to have marquee investors backing us in our growth journey. The capital will allow us to enhance our offerings and scale further.” “Education is a key growth component to scale a better future not only for aspiring professionals and business verticals but for the growth of the nation. As an investor, it's exciting for me to be a part of Eduncle's business and onward journey, as they use the funds to upscale high-quality education and learning solutions across the whole country and also globally by providing online solution for higher education, creating the exponential growth in times to come."  said Ankur Bansal, Co-Lead Investor for Eduncle. Dr. Amit Pareek, Founder & CEO, Eduncle, started with a small team of 5 people and a mission to empower students with the power of knowledge & build their concepts so that they can lead in their exams, career, and lives. Going ahead with the vision of providing holistic learning solutions to every student in the country, Eduncle is now an ever-growing organization with close to 150 employees, 75 top faculties, and more than 500 tutors working diligently 24*7 to accomplish its mission About Mumbai Angels: Started in 2006, Mumbai Angels 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 60+ Global cities.

Mumbai Angels Network participates in USD 1.1 Million seed round for SaaS based tournament discovery platform EsportsXO

 

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Mumbai Angels Network participates in USD 1.1 Million seed round for SaaS based tournament discovery platform EsportsXO 7th January, 2022: Mumbai Angels Network, a premium platform for early-stage investments has participated in a USD 1.1 Million Seed round for EsportsXO, a SaaS-based tournament platform designed for gaming enthusiasts. This round also saw participation by We Founder Circle, Wami Capital, SucSEED Indovation Fund, FAAD Network, SOSV, and other investors. “EsportsXO’s USP lies is the SaaS tool, built to focus on their product strategy, with other aspects creating a flywheel effect for the platform. This funding is a testament to their growth and progress, and we believe that it will help the platform reach greater heights,” added Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network. Mr. Vikas Goel, Founder of EsportsXO, said, “E-sports in India is at the same stage where e-Commerce was 15 years ago; there is an abundance of opportunities for everyone. The market in India and the rest of the APAC region is huge, which gives us enough room for creativity and growth. EsportsXO is committed to blending state-of-the-art technology into the online gaming world to provide users with a one-of-a-kind experience. We are thankful to our investors for joining us in our journey. The latest capital infusion will allow us to expand our team and reach.” On the Investment, Chetan Mehta, CEO of Wami Capital said, “Esports is today one of the fastest-growing segments in the overall global media space. With India’s young demographic profile, access to smartphones and cheap internet, the Indian esports space is going to explode and can become a $10bn market in the coming years. We are confident that the EsportsXO team, with its market positioning and platform approach can add a lot of value to game developers, players, brands and various other stakeholders, not only in India but also globally”. EsportsXO facilitates opportunities for game publishers and brands to launch custom tournaments for users. The brand has developed a strategic plan to build an e-sports metaverse for fans and players and already has over 1.5 lakh registered users. 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 60+ Indian & Global cities.

Mumbai Angels Network participates in INR 3.11 Cr seed round in Barneys Hard Seltzer

Mumbai Angels Network participates in INR 3.11 Cr seed round in Barneys Hard Seltzer 23rd, December, 2021: Mumbai Angels Network, a premium platform for early-stage investments has participated in INR 3.11 Cr seed round in Barneys Hard Seltzer along with Ah! Ventures, Chandigarh Angels, and others. Barneys is India’s first zero sugar, low calorie, no-carb hard seltzer with 6% alcohol for those who enjoy their beer and wine but also want something easier and not too serious. The funds raised will be utilized in marketing, production and team expansion. “Barneys is among the first Indian hard seltzers crafted with premium elements and comes at an affordable price. Given the popularity of beer brands entering the market with low-sugar variants, we believe that the freshly infused capital will allow them to widen their consumer base, innovate further, and grow,” added Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network. Ruchi Gupta, Founder, and CEO of Barneys Hard Seltzer said, “Beverages such as wine, beer, or cocktails have a substantial amount of carbs and added sugar, causing adverse effects. So, we created Barneys to help consumers enjoy a refreshing drink without worrying about long-term effects on their health. We are thrilled to secure funding from distinguished investors and we believe this will give us the much-needed boost in the market.” 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. About Barneys: Barneys is a zero sugar / low calorie alcoholic beverage, blended with premium ingredients like jasmine and lemongrass. Barneys has launched in Goa, where it is headquartered and will be expanding to Karnataka and New Delhi in the next financial quarter.