Mumbai Angels in FY-22: Some Key Numbers

 

Mumbai Angels and others invest INR 14.31 Cr in Pre Series A round of Speedlabs, an EdTech Platform

 

Mumbai Angels and others invest INR 14.31 Cr in Pre Series A round of Speedlabs, an EdTech Platform

17th May 2022: Mumbai Angels, a premium platform for private investments, has invested in SpeEdLabs, one of the leading AI-based EdTech platforms, as a part of the Pre-Series A funding. The fund raise to the tune of INR 14.31 Cr, also saw the participation of LetsVenture, Ecosystem Ventures and SucSeed Ventures. SpeEdLabs will direct the freshly infused capital towards expanding its presence and bolstering its infrastructure.

Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels said, “The advent of AI enabled Platform-as-a-Services solutions have been revolutionizing the hitherto unorganized after school tuition market. There is a tremendous demand for the non-generic mode of learning given the one size fits all education system prevalent in India today. We are confident that the unique tech driven learning solutions will continue to enrich students' learnings and fuel future demand for personalized coaching.”

“As the world gradually moves toward a hybrid model of education, it’s high time children/students receive education personalized as per their requirements. Pure Online Tutoring was a forced choice during Covid lockdown, but now the Offline classroom model using technology will be the successful hybrid model. SpeEdLabs platform uses data-driven hyper personalization, dynamic adaptive learning, algo driven automated content management and analytical data visualization to help students achieve their potential as we bring the best of both worlds. We are also delighted to have marquee investors supporting our journey. Currently present in 200+ cities, enabling 100,000+ students and empowering over 5000 teachers, SpeEdLabs will soon be expanding their presence to 800 cities across 23 states in the country,” added Vivek Varshney, Founder of SpeEdLabs.

Having scaled 10x in 18 months in product revenues and a funnel of 3000+ clients, SpeEdLabs is well on its way to crossing INR 1.5 Cr per month by June 2022. Currently, SpeEdLabs gets over 2m+  questions, recommended by SpeEdLabs Question recommendation engine, practiced on its platform monthly, which provide more than 10m+ analytical data points per month. Multiple algos use this data to provide recommended and curated content to both the teachers and the students so that learning outcomes are optimized. As compared to online lecturing / recorded lectures and LMS based applications, the SpeEdLabs platform offers a comprehensive platform with tools for adaptive revision, practice, test and video content which complement the offline lectures to complete the hybrid pedagogy for unorganized tutoring market

About Mumbai Angels Started in 2006, Mumbai Angels is India’s premier platform focused on new venture investing. Mumbai Angels today has invested in 200+ companies in its portfolio across sectors and cities  in India. Of the overall portfolio, the platform has exited/ secured the next round of funding for 100+ of them. Today the platform has 700+ investors spread across 60+ cities across the globe.

Investment process & TTP update (CEO)

 

Mumbai Angels and others invest INR 2.5 Cr in Redbasil

 

Mumbai Angels and others invest INR 2.5 Cr in Redbasil

Funds will be utilised to expand operations and its sales team in Delhi NCR, invest in engineering resources, tech infrastructure, and onboard 500+ outlets   10th May 2022: Mumbai Angels, a premium platform for private investments, has invested in Redbasil, a tech-driven, zero-inventory marketplace for wholesale food supply for restaurants and cloud kitchens, as a part of its Seed funding. The round also saw the participation of SAT Industries, Plan B Capital and other investors. Redbasil will primarily use the capital to expand its ground operations and sales team in the Delhi NCR region and invest in engineering resources and tech infrastructure. The platform also aims to onboard 500+ outlets and clock a monthly GMV of over INR 1.5 Cr with the funding.

Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels said, “The skyrocketing number of restaurants and cloud kitchens in the country has fueled a need for hassle-free procurement of wholesale foods. Redbasil’s digital marketplace model has bridged the gap by enabling restaurants and cloud kitchens to source them seamlessly through its app. We are confident that the latest infusion of capital will help the platform tap into the immense potential in the market, cater to more customers, and scale the business.”

“Redbasil was founded with a simple idea – making wholesale food supply reliable and convenient. We found that the Indian food value chain faced multiple challenges like inconsistent quality, volatile pricing, delayed deliveries, creating a major gap in the system. Redbasil was conceptualized as a digital marketplace to address these challenges for commercial kitchen operations in India. We have received an incredible response from our customers. We’re delighted to be backed by marquee investors in our journey of building a robust ecosystem in the food value chain for restaurants and cloud kitchens. This funding will help us achieve our goal and reach greater heights,” added Naman Dayal, Founder and CEO of Redbasil

Since its inception, the platform has sourced produce for over 2000 SKUs (with 5000+ in the pipeline). Redbasil has also onboarded 80+ food outlets in Delhi NCR, alongside 20 high-quality suppliers from various wholesale mandis, local traders and branded distributors. Having generated INR 51 lakhs in GMV in April 2022, Redbasil is currently clocking a growth of 30% month-on-month.

About Mumbai Angels Started in 2006, Mumbai Angels Network is India’s premier platform for private investments. Mumbai Angels today has 200+ companies in its portfolio across sectors and cities in India. Of the overall portfolio, the platform has exited/ secured the next round of funding for 100+ of them. Today the platform has 700+ investors spread across 60+ cities across the globe.

Mumbai Angels invests in GreenSat, an AgriTech company

GreenSat will use the funds to scale operations in new geographies, enhance its tech infrastructure, and build high-performance teams across functions   26th April 2022: Mumbai Angels, a premium platform for private investments, has invested in GreenSat Innovation Labs Private Limited, a satellite imagery data analytics company enabling precision farming and risk mitigation for Indian farmers. While the amount remains undisclosed, the round also witnessed the participation of US-based VCs. GreenSat will leverage the fresh capital to scale operations in new geographies, enhance its tech infrastructure, build high-performance teams across functions, and focus on other business development activities.

Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels said, "Precision Farming using satellite data improves crop yield for farmers as they can make informed, real-time crop management decisions. GreenSat’s integrated platform is a confluence of advanced technology, digital finance and more, and I am confident that the fresh capital will enable them to innovate solutions to improve profitability for the agri sector.”

“GreenSat was founded with the mission of transforming the farming industry. It wasn’t just about a single solution but providing end-to-end services and taking the farmers on a journey from poverty to prosperity by giving them access to data on an easy-to-use, completely integrated platform. We stand by our 15k+ happy farmer families who have experienced higher yields and higher profitability, along with better and low-cost funding through GreenSat. Our journey has been further expedited by the confidence Mumbai Angels have shown in us and our potential. With this contribution by MA, we aim to reach and provide a holistic solution to many more farmers, B2B businesses and connect the entire ecosystem through GreenSat,” added Deepak Yadav, Founder of GreenSat Innovation Labs.

GreenSat is India’s only Agri-tech company with an integrated approach designed to assist the farmers from the pre-sowing stage to when the crop is sold. The GreenSat app provides real-time information to the farmer on weather, soil, moisture, pest and crop diseases, and solutions. With the introduction of multiple new features, GreenSat will be India’s first Faceless Crop Loan app. The platform will focus on bridging the gaps in the sector by bringing banks, insurance companies, buying entities, and most importantly, the farmers on a single platform. GreenSat acts as a supply chain solution solving one of the most complex and prevalent problems in farming through technology.

About Mumbai Angels Started in 2006, Mumbai Angels is India’s premier platform focused on new venture investing. Mumbai Angels today has a 200+ 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 700 investors spread across 60+ Global & Indian cities

WickedGüd raises USD 1MN in a Seed Round led by Mumbai Angels

WickedGüd raises USD 1MN in a Seed Round led by Mumbai Angels

WickedGüd, a guilt free comfort food D2C brand, has raised USD 1Mn in a seed round, led by Mumbai Angels and other marquee investors. Mumbai Angels has invested USD 350K as part of their portfolio expansion initiative backing promising and high potential startups while others include NB Ventures, Dholakia Ventures, Jalaj Dani Family Office, Ashutosh Valani & Priyank Shah (Founders – Renee Cosmetics, ex-Beardo), Ravi Shroff (MD – Excel Industries Ltd), Ravi Nigam (ex-MD – Tasty Bite), Ashwini Deshpande (Co-founder – Elephant Design), Jorge Fernandez Vidal (Investment Director – Liechtenstein Group) and AkshayGurnani (CEO – Schbang), among others. The capital raised will be used for brand and community building across D2C channels, acquiring more customers online by resonating with the GenZ and young millennials to support its growth, strengthening the core team and international expansion.

Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels on the round raised said “With demand for non-native, healthy and easy-to-make recipes invading Indian kitchens today, the market is buzzing with anticipation for exciting solutions to satiate finger-licking preferences by healthy binging options. I am confident that WickedGüd offerings are perfectly positioned to capitalize on this paradigm shift on customer preferences towards health and convenience, and experience accelerated growth.”

Speaking of the funding, Bhuman Dani, Founder, WickedGüd, said “Packaged food companies are displaying mere tokenism across multiple categories – a pack of ‘oats noodles’ reads 60% maida and 40% oats at the back of the pack while ‘High-protein claims are backed with less than 10% overall protein content in the ingredient list’. Having lived across the globe for more than a decade, I truly understand the importance of balancing taste and nutrition. Our aim is to build a large, clean-label, comfort food brand with ambitious aspirations of disrupting global markets. I am truly honored and grateful to have some of the best investors in this country believe in our vision of adding WickedGüd products into households – one kitchen at a time!” He added.

About Mumbai Angels Started in 2006, Mumbai Angels Network is India’s premier platform focused on new venture investing. Mumbai Angels today has a 200+ 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 700+ investors spread across 60+ cities across the globe.

Mumbai Angels welcomes Eaglewings Ventures as its Newest Co-investment Partner

 

Mumbai Angels welcomes Eaglewings Ventures as its Newest Co-investment Partner

07, April, 2022: Mumbai Angels, a premier platform for private investments has welcomed its new Co-Investment Partner, Eaglewings Ventures, onboard. Eaglewings Ventures, an integrated investment and incubation platform for technology-based ventures provides funding support services to startups and early-stage companies in India. Launched in 2021 by Mumbai Angels, the Co-Investment Program has roped in multiple investment networks and accelerators in backing-up a few chosen high-potential startups. These startups benefit from numerous exclusive opportunities and benefits, including unrestricted access to Mumbai Angels’ Multiplier Program, an exclusive marketplace for its portfolio companies. The services provided under this program include advertising, cloud storage and marketing solutions, among others.

“Eaglewings Ventures have been at the helm of identifying and nurturing technology-driven ventures since its inception. I am confident that our combined efforts driven by our similar investment ideologies will have a meaningful impact in spotting disruptive and scalable solutions, and widen potential opportunities in creation of valuable companies.” said Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels.

“Mumbai Angels have been one of the pioneers and leaders in fueling the growth of angel investing in India for more than a decade. With its vast pool of top-tier angel investors, combined with our venture-building approach to engaging with promising startups, we foresee better accomplishments for both investors and founders. Eaglewings and Mumbai Angels have already closed deals together in the past, and now this formal collaboration will pave the way for more smart capital and quality deals in our ecosystem”, said Atul Javeri, Founder & CEO of Eaglewings Veures.

Founded in 2019, Eaglewings Ventures, a venture investment and advisory firm, aims to play a key role in contributing to India’s startup culture and entrepreneurial spirit. Understanding the challenges faced by entrepreneurs with respect to developing a market-acceptable product, identifying the appropriate positioning, adopting the right customer acquisition strategy, and managing the dynamics of fundraising, the platform offers strategic advisory, business tie-ups, preparation of investment material, subsequent funding, and deal structuring. The portfolio companies of the firm include Travel Buddy, Map My Crop, Aquatein, Celcius, GalaxyCard and more.

About Mumbai Angels Started in 2006, Mumbai Angels Network is India’s premier platform focused on new venture investing. Mumbai Angels today has a 200+ 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 700+ investors spread across 60+ cities across the globe.