Monday, 2 December 2019

Dhruva Space raised collective funding of INR 5 Crores from Mumbai Angels Network & other external Angel Investors

Dhruva Space raised collective funding of INR 5 Crores from Mumbai Angels Network & other external Angel Investors
December 3, 2019:
Dhruva Space, a private Space company, has raised a collective angel funding of INR 5 Crores from Mumbai Angels Network and other external angel investors.  Dhruva founded by Abhay Egoor,  Krishna Teja , Sanjay Srikanth in 2014, is based out of Hyderabad that enables privatization of space assets by enabling corporate to build, launch and track constellation of small satellites.
37 investors of the Mumbai Angels Network, across all its chapters, have participated in this round.
The Deal was led by Ravikanth Reddy, Managing Director, Hotcrete private limited. “I'm backing Dhruva because of their cutting edge satellite & communications technology and a strong founding team. Space is a sector that will be an integral part of many critical applications in the future. I will advise them from time to time and provide relevant contacts to help them grow,” said Reddy.
Commenting on the fundraise, Co-founder Sanjay Nekkanti said, “It was a pleasure working with MA towards our first fund raise. The support extended by the entire MA team has been phenomenal. They were diligent and thoroughly professional throughout the process. Looking forward to working with them and benefit from their experience”
Nandini Mansinghka, Co-Promoter and CEO of Mumbai Angels Network said, “We are excited about raising funds for Dhruva Space, the first space tech start-up in our portfolio. We see a strong wave in space start-ups both from the number of companies approaching us for investments and investors keen to invest in this space. We are extremely bullish about participating in this industry defining the near future.”
About Mumbai Angels Network:

Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing. The network is today 400+ members strong, across 8 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa, Pune and Jaipur). It has a 135+ strong portfolio with 30+ exits and has invested 150+ crores.

About Dhruva Space:
Dhruva Space provides end to end solutions from building small satellites, making ground sensors, launching them and monitoring the same via earth stations. The company is working with ISRO and European Space Agency (ESA). The company has been awarded a grant from European Space Agency (ESA) for 50,000 Euros. Once they set up an entity in Austria and do the other necessary formality as part of the agreement, they will be able to access the grant.

Thursday, 31 October 2019

We are now in Jaipur!

Mumbai Angels Network is growing with its 8th chapter in Jaipur, home to 3.5 million people and over 200 startups making it ripe for angel investors to pool in their resources and expertise to these budding entrepreneurs.
Mumbai Angels Network with its network of 400+ members is already present in 7 key cities in India and has members from across 25 cities both Indian and Global. We are excited to open our 8th chapter in Jaipur which is a testimonial of the entrepreneurial spirit of the investors in Rajasthan,” 
Nandini Mansinghka, Co-founder and CEO, Mumbai Angels Network.

Thursday, 26 September 2019

Minkspay raises funding from Mumbai Angels Network

Minkspay raises funding from Mumbai Angels Network
September 26, 2019: Minkspay, a payment solutions company for rural markets raises funding from Mumbai Angels Network (MA Network), India’s premier platform for venture investing.
Headquartered in Goa, Minkspay was founded in 2017, by Sanket  Shendure and Sanmati Shendure. MinksPay is focused on solving problems of small retail stores based out of rural areas by providing them seamless payment acceptance solution and financial inclusion services.
This is the first investment in a Goa based  start-up by Mumbai Angels Network.
Commenting on the fund raise, Founder & CEO Sanket Shendure said, “We are proud that MA Network has partnered with us and supports our vision to be India’s leading payment solutions company focused on the retail market. We look forward to working closely with Mumbai Angels Network to grow Minkspay as a front runner fintech and payments solutions company in the next few years.”
Mumbai Angels is the first external investor in the company. 10 of the network’s investors have participated in this round from across chapters. The investment is led by Vishal Chiripal, DirectorTripoli Management Pvt.Ltd. “ I am backing Minkspay both because of its scalable business model and its strong founding team. I see the rural payment services targeting consumers from Bharat as a key growth area and are looking forward to working closely with the Minkspay team to grow their business” said Vishal.
“Our investment in Minkspay backs our philosophy in supporting innovation in the fintech and the payments solutions space. We see a lot of interest in this sector both from the next round financial investor and larger corporates in the banking and financial services space. With our investment in Minkspay we have also opened our account of investing in Goa based start-ups and expect many more companies to get funded from the state. ” said MA Network CEO & MD, Nandini Mansinghka.
About Mumbai Angels Network:

Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing. The network is today 400+ members strong, across 7 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa and Pune). It has a 130+ strong portfolio with 30+ exits and has invested 150+ crores.
About Minkspay
Minkspay is a digital platform which empowers offline rural retail stores with seamless payment acceptance and cross sell multiple digital & financial services to their nearby customers.
Our mission is to onboard more than a million stores from rural areas on this platform and convert them into Micro Banking (Aadhaar Banking) outlets for distribution of banking and financial services to unbanked and unreached Indians.
We are a team of 15 people passionate about building financial inclusion products for Bharat.

Friday, 13 September 2019

CBA Ventures & Mumbai Angels Network announce strategic partnership

CBA Ventures & Mumbai Angels Network announce strategic partnership 
CBA Ventures (CBAV) and Mumbai Angels Network (MA Network) have announced their strategic partnership to create a corridor of opportunities for Indian and Korean start-ups into the Asian and European Markets.
CBA Ventures’ global acceleration program is designed to promote investment, rapid growth, and achieve international commercialization for promising startups that have a focus towards global opportunities. MA Network is the premier investment platform for investing in startups in India.
Through this alliance, MA and CBAV will work together to enable the start-ups in Mumbai Angels’ portfolio to expand into Korea, other South-East Asian Markets and Europe. The two partners will also work towards showcasing Korean start-ups and growth stage companies to the Indian market, investors and potential partners.
[From Left to Right] Nandini Mansinghka - CEO & MD, Mumbai Angels Network ; Devang Oza - India Head, CBA Ventures 
Regarding the MOU signed with Mumbai Angels, CBA Ventures Director, Mr Dongwook Suh, commented: “We are extremely proud and excited to be joining hands with Mumbai Angels. This promising opportunity only strengthens our mutual commitment to connecting our client's companies to international markets so they can thrive, and today’s announcement is a further endorsement of the strategy both companies have in place for building scale within the global market and providing a better service offering for our clients."
"Our synergistic relationship with Mumbai Angles provides CBAV with an important link to India, which is the fastest growing major economy and the third largest startup base in the world, and compliments agreements we already have in place with other robust Asian markets in Vietnam, Hong Kong, Singapore and Japan."
Nandini Mansinghka, CEO and MD at Mumbai Angels Network says, “ We are excited to partner with CBA Ventures. With this alliance we are adding yet another avenue for our portfolio companies to  become market leaders, expanding into the growing South Asian Markets across industries. As the premier network for venture investing in India, our focus is always on growth and exits rather than investments. We also look forward to introducing cutting edge Korean companies to our investors looking to invest in international startups and connecting these companies to our portfolio companies and other potential business partners.
About Mumbai Angels Network:

Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing. The network is today 400+ members strong, across 7 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa and Pune). It has a 130+ strong portfolio with 30+ exits and has invested 150+ crores.
About CBA:
Founded in 1971, Cross Border Associates AG (CBA) has evolved into a global network of affiliates with a diverse set of services catering to a wide range of corporate needs, with specific expertise and emphasis on the provision of financial and corporate organisational and consulting services, as well as corporate formation and business development. CBA Ventures was founded in March 2018 and proudly registered as the 103rd member of the Accelerator Registration & Support Program run by the Korean Ministry of SMEs and Startups. Since then, CBA Ventures has focused on expanding its business reach around the country and begun its long mission to invest and incubate startups, as well as nurturing them towards becoming global-minded companies. The company provides a wide range of services towards promising clients seeking to enter the global market, including investment, local networking, and advanced consultation.

Tuesday, 13 August 2019

Goa investors backing innovative startups across the country

Goa is becoming a hub of active angel investors. It has been exactly one year since the launch of Goa Angels Network in 2018 powered by Mumbai Angels Network, the premier investment platform for investing in startups in India. Goa Angels are actively investing in start-ups from Goa and from across the country.
In the last few months since launch, over 15 startups have pitched to a room full of angel investors from Goa.
Some of the active members in the network include Shrinivas V Dempo, Vijay Hede, Carlos Sousa, Swati Shivanand Salgaocar, Dean Menezes and Manoj Caculo. Between them they have invested in several marquee start-ups such as “Adonmo”, pioneering mobile - innovative advertising in India; “Dr Sheth’s”, Skin care brand by celebrity dermatologist; “Leadstart”, publishing house and "Nutrisattva", F&B offering Protein based food. These leading members are playing a key role in helping Goa based startups and others come on national radar by not just putting in money, but also sharing their valuable experience and network.
“The Goa Angels investor network is committed to building a vibrant start-up ecosystem in Goa. Innovative start-ups from Goa gain access to a large pool of investors across industries, helping them scale up. Apart from investment pitches, Goa Angels and the MA Network also plan to provide insight into startup investments in Goa through several learning and networking sessions,”  Swati Salgaocar, Vimson Group.

“We are glad to have partnered with trusted partners like Mumbai Angels to help us with finding interesting and innovative startups to back, lead the due diligence, investor rights & exits. Together Goa and Mumbai Angels Network have enabled process driven investing and ability to attract the best companies to Goa” - Dean Menezes, Cosme Matias Menezes.
“Disruptive business models across sectors pitch in Goa through Mumbai Angels. Launch of Goa Angels Network has enabled people like me to enter the magnificent start-up investment space, get exposure and access to innovative business ideas and businesses by young entrepreneurs” - Carlos Sousa, de Souza Group.
“We see Goa to be a thriving ecosystem for start-ups. Every month 3-4 highly innovative startups pitch for investments to the investors in the network. Since within Goa Angels, we have investors from across sectors, who are entrepreneurs themselves running our own businesses or have experience running large companies, startups find it extremely beneficial to interact with us and raise funding from us. Collectively, we have invested in around 6 start-ups so far, and plan to invest in many more this year” -Vijay Hede, Pyramid Finance.
“As Goa comes to the forefront of the startup revolution in India, we as Goa √Āngels Network and MA Network are looking forward to building a strong angel investment network in the state, which is critical to building a robust start up ecosystem.” –Manoj Caculo, Caculo Group.
“We are excited that Goa Angels is leading the change to bring the top investors in Goa under a single network. We see this as a first and critical step in building a robust start-up ecosystem in the State. Our partnership with MA Network ensures our members get access to best-in-class start-ups from across the country. Being a part of a larger network offers the full membership experience, including investing best practices, learning sessions and active portfolio management for the invested companies,” said Shrinivas Dempo, Dempo Group.  
“We are excited to power Goa Angels and build the start-up ecosystem in Goa. With our nationwide reach of seven chapters (Mumbai, Delhi, Kolkata, Bangalore, Hyderabad, Pune and Goa), MA Network has the first access to the best start-ups in the country. With our innovative, process driven investing, we are able to steer the entire investment process smoothly right from curating deals, deal negotiations, deal documentations to actively managing the invested portfolio and working closely with the next level investors for exits,” said Nandini Mansinghka, CEO and Managing Director, MA Network.
About Mumbai Angels Network:

Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing.  The network is today 400+ members strong, across 7 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa and Pune). We have built a strong investment framework through which we showcase 60-70 highly curated investment opportunities to our member base, chosen from a funnel of 8000 companies we review every year. MA Network now has a 130+ strong portfolio with 30+ exits; several of whom were at multiples comparable with global benchmarks in new venture investing.