Monday, 21 June 2021

June Spotlight


‌Blive to open physical EV stores in India
‌Blive, an e-bike startup company funded by MA is now opening multibrand physical EV stores to sell e-bikes and e-scooters in India.
BLive is also India’s first EV experience platform that offers experiential tours on e-bikes through EV tourism. The startup has partnerships with brands like Club Mahindra, Taj, Marriott, Hyatt etc. and also, tourism boards in Goa and Pondicherry.
‌Leegality launches platform to find vaccination slots
‌Leegality, has recently launched a platform - to help citizens find vaccination slots over the country.
The platform specifically targets available vaccination slots for citizens above 18 years of age.
‌Unocoin brings bitcoin to billions in India

‌Unocoin is an exchange platform for cryptocurrencies. It allows users to buy, sell and trade digital assets through encrypted networks.
The daily trading on the platform is roughly at Rs. 10 crores. It is now a trading platform for 30+ different kinds of cryptocurrencies and the company hopes to be India's first crypto assets exchange to file for IPO.

‌BluSmart to have 50% women drivers

‌BluSmart, aims to create an earning opportunity for everybody and anybody who aims to work.
They plan to take the number of women driver-partners on its platform to 500 in a year, making it 50% of the total driver-partner base.

Job Openings
Sector - Hotel Booking Platform
Inside Sales Executive
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Sector - Finance
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Sector - Education
Business Development
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Monday, 31 May 2021

Mumbai Angels and Auxano lead Pre Series A funding round of INR 5 Cr for Ed Tech startup Avishkaar

Mumbai, 1st June 2021: Mumbai Angels Network, a premium platform for early-stage investments, along with Auxano, and other eminent angel investors, has invested INR 5 crore in Ed-tech startup Avishkaar as a part of pre series A.

Avishkaar is a category leader in next-generation technology education that focuses on robotics, AI, coding, and app development for children between 5 and 15 years of age through its hardware and software products. Avishkaar plans to utilize the funding towards product development and further expansion of its portfolio in addition to hiring talent. Further, with its mission to build an army of young innovators globally, the company will invest in marketing; India will continue to be a focus market this year with enough scope to grow in Tier-I and Tier-II cities while catering to inbound queries from international institutions.

Speaking about the investment, Tarun Bhalla, Co-founder, and CEO, Avishkaar said, “Avishkaar’s goal since its inception has been to create an army of innovators. Exponential technologies like AI, Robotics, Coding, and 3D printing are already defining the world around us. However, with COVID-19, technology is at the heart of everything, and we must impart these skills amongst our children if they find these fields exciting. Avishkaar’s approach is one of the platforms that comprises hardware kits, software solutions, and LIVE online classes to ensure that children have the right tools, curriculum, coaching, and environment to excel at these skills.

“We are quite thrilled to have Auxano further its faith in the Avishkaar story, and we are happy to have the new investors coming on board to take our cause forward”, he added.

Adding to this, Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels Network said, “Ed-tech is one of the most lucrative sectors and one of the few industries that has emerged triumphant from the pandemic’s impact. The education sector will heavily rely on technology-driven teaching and learning even after the pandemic has passed. Avishkaar has been consistent in providing seamless solutions that cater to today’s learners and we believe that this investment will enable them to further innovate, expand their offerings, and grow.”

"Avishkaar, having developed hardware, software, curriculum & communities to learn tech skills for the future like Robotics, AI, Coding, IoT & drones within 1100+ schools, extended their model to add student learning as a B2C strategy. This B2C focus has seen early traction accelerated by the tech adaption in the education industry due to Covid19, capitalising on the need of the parents and students to learn these future-ready skills.

Accoutred with a hybrid model targeted at schools and direct students allows them to address both ends of the spectrum. Lead by a proficient team that understands the education space with a decade+ experience in educational offerings. Lastly, NEP 2020’s focus on STEAM education is another impetus that will enable growth. A combination of these ingredients leaves Avishkaar poised for growth hereon." said, Angad Singh Bilochpura - Deal Lead.


Tuesday, 25 May 2021

Mumbai Angels Network, JITO Angel Network, and other angel investors invest USD 200K in Pickright Technologies

The freshly infused funds will be directed towards enhanced marketing efforts, designing new tech, and creating awareness on the significance of investing right and early to secure maximum returns.

May 25, 2021Mumbai Angels Network, a premium startup investment platform for early-stage venture investments, along with JITO Angel Network, and other eminent angel investors, has invested USD 200K in Pickright Technologies, an AI-enabled app to plan and manage finances and diversify investments for millennials across direct and indirect assets.

A wealth-tech platform for digitally native masses, the Pickright app enables users to organize finances by intelligently saving and investing smartly across asset classes with AI and ML-powered deep personalization. Founded by Archana Elapavuluri and Namandeep Bhatia, Pickright Technologies has curated, powerful, and diversified portfolios for every user based on user profiling and allows them to invest according to their eligibility month-on-month across asset classes using AI and ML, thereby being a financial assistant in your pocket. The freshly infused funds will be utilized for enhancing the platform’s marketing, designing new tech, and most importantly, to create awareness on the importance of investing right and early to avail maximum returns in an organized manner.

Speaking on the new capital infusion, Archana Elapavuluri, Co-Founder and CEO of Pickright Technologies said, “The world is going through an extremely challenging time with rampant uncertainty, and we are staring into a pension-less future with the erosion of interest rates and growing inflation. This is the right time for people, young and old, to take a step towards wealth creation. Every penny counts.”

Commenting on the investment, Nandini Mansinghka, Co-Promoter, and CEO of Mumbai Angels Network said, “Wealth creation, especially for today’s millennials, is integral to ensure they have financial backing amidst this uncertainty looming over the world and for their post-retirement. Pickright Technologies has been committed to help enhance their assets and investments and we believe that our collective investment will help the platform scale-up and cater to more customers. This capital infusion is a testament to Pickright’s expertise in the wealth creation area and its constant innovation through tech-driven methods.”
“I am delighted to be associated with Pickright Technologies’ growth story. I strongly believe in their proposition as an AI-enabled app offering curated, diversified portfolios across asset classes with single-click execution. Pickright is the ideal solution for digital native users to assist with micro saving, planning, and investing right”, added Arun Thukral, the deal lead for the funding round.

Pickright is currently working with different discount brokers and other partners to partner and scale the same. The platform is currently clocking 30,000 users on the platform doubling month-on-month.

Tuesday, 18 May 2021

May Spotlight


‌Smart garden solution by Agro2o
‌Agro2o has developed a proprietary smart garden solution which automates the complete process of growing plants indoors using advanced hydroponics and intelligent growing algorithms.
It allows people to grow plants anywhere in the world and at any time of the year.
‌Lattu Kids selected in "Elite 200", GSV Cup 2021
‌Lattu Kids makes it to the list of the top 200 early stage Ed tech companies globally in the GSV Cup.
Over 700 startups had participated from all over the globe and Lattu Kids are in the semi-finals competing for $1M in prizes. Read More
‌BluSmart offers 50% off for healthcare workers

‌BluSmart electric cabs is now offering 50% off on all rides and rentals for healthcare workers. It has also taken a number of steps to ensure safety and security during the Covid19 pandemic and has ensured a no cancellation policy for all its rides.

‌Ixambee merges with TargetRBI

‌Ixambee merges with Competitive exam preparation platform TargetRBI and aims to establish itself as a prime destination for students to undertake coaching for government service competitive exams.
TargetRBI was launched in 2012 by former RBI Manager Mr. Susheel Ragade.


‌Video AI company Pixuate adds new features

Pixuate launched new analytics capability such as Detects smoke or fire incident in <10s and read oxygen meter level for hospitals using a camera.
These new features will help automate monitoring of critical events using CCTV cameras and give alerts to take action on time. These features are life-saving tools to avoid workplace hazards.

Job Openings
Sector - Hospitality
Account Manager - Sales
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Sector - Legal
Product Marketing - Manager
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Sector - Logistics
Digital Marketing - Internship
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Monday, 17 May 2021

Mumbai Angels Network invests an undisclosed amount in smart cloud-based neobank Nemo as a pre-seed funding round

Nemo plans to use the freshly infused capital towards acceleration of product development, hiring, and customer acquisition

May 18, 2021Mumbai Angels Network, a premium platform for early-stage investments, has invested an undisclosed amount in Nemo, a smart cloud-based neobank for small businesses.

An easy, secure, and smart cloud based neobank for small businesses that unifies banking accounting, credit, and operations, Nemo is the brainchild of IIM Ahmedabad alumni Ashish Deswal and Jeevan Gopisetty. Based out of Hyderabad, Nemo is on a mission to create a first-of-its-kind business through its banking platform that aims to simplify the financial aspect of business for India’s MSMEs and empower them with the right tools, resources, and networks that large corporations have access to. The freshly infused funds will be utilized to help Nemo accelerate its product development, hiring, and customer acquisition.

Speaking on the first round of funding, Ashish Deswal, Co-Founder of Nemo said, “We have been closely monitoring what the neobanks in Europe have been able to accomplish in a short period. However, these models may not be directly applicable in India as our MSMEs have a wider spectrum of needs and starkly different behavior in terms of finance and banking as opposed to their western counterparts. We are thrilled to be backed by an eminent platform such as Mumbai Angels Network and hope to utilize this fresh capital infusion to take Nemo to new heights.”

Commenting on the investment, Nandini Mansinghka, Co-Promoter, and CEO of Mumbai Angels Network said, “MSMEs are the backbone of the Indian economy. But they often face multiple challenges when it comes to access to banking and finance. As the FinTech industry grows exponentially in their offerings and footprint, our investment will help a fast-growing platform such as Nemo scale and expand to empower the country’s MSMEs with the required access to financial services.”
“The next decade will be a golden period for neobanks. While user experience across all other sectors such as E-commerce, Logistics, Food Delivery, Education, etc., has seen disruptions, the banking sector has been relatively slow in adopting technological advancements and continues to follow a traditional approach. We are now witnessing a growing demand from business customers of banks for a better banking experience that is on par with that of other industries”, added Jeevan Gopisetty, Co-Founder and CEO of Nemo.

Nemo is currently piloting with a small cohort of selected customers and plans to scale rapidly over the next 12-18 months.