Monday, 7 September 2020

No lockdown at MA Network | Record deals closed between April - September'20


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No lockdown at Mumbai Angels Network | Record deals closed between April - September
Mumbai Angels (MA) Network has successfully closed a record of 19  deals during the lockdown period (April’20 to September’20). In a challenging financial environment, 19 startups have raised funds through the vast network of investors on the MA platform located across the globe.

MA Network has always been a sector agnostic platform and during this period, we have invested in exciting upcoming sectors like Defence, Agritech, Artificial Intelligence, Wearable Tech, Clean Tech, Ed-Tech, Healthtech, among others
Highlights from the diverse set closed during this time. 
  • Big Bang Boom Solutions (BBBS), a defence start up, raised INR 7.7 Cr 
  • BluSmart, all electric ride hailing platform; raised INR 51 Cr from Mumbai Angels & others.
  • Crimson Healthcare,focused on ostomy care ; raised INR 1.75 Cr 
  • Dave.AI is an enterprise-grade AI platform for creating the next generation of sales experiences. 
  • Charge+Zone, an electric car charging solutions provider among others
“Our Investment strategy involves regular investing and diversification of our portfolio  and we are the platform of choice for both the investors and the startups to raise their initial round of investments. We at MA Network are excited to be part of the growth journey of these stellar companies.” says Nandini Mansinghka, Co-Promoter & CEO, Mumbai Angels Network.
“In the past six months, one of the key learnings is that there is no slowdown in investing if investors have a choice of well curated startups backed by the due diligence offered by a platform like ours. With respect to investor behaviour, I would say the investor has become more cautious while evaluating deals. They are asking specific questions around revenue plans, burn rates, runway, ability to survive the pandemic and its long term effects on the startup’s business model. What we also see, is a strong tilt towards innovative business models which will play a crucial role in rebalancing the situation in the New Normal”, she adds.

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 450+ members strong, across 9 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa, Pune, Jaipur, Chennai). It has a 140+ strong portfolio with 45+ exits and has invested 150+ crores.


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  2. Thank you Mumbai Angels for supporting us in our journey to champion the digital revolution for the world's micro business owner community.

    Special thanks to Sajid Sundrani and Abhinav Mishra for their exceptional support during the entire fundraise. Team.