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.

Tech Innovations is our latest partner for 'The Co-investment Program'

 

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Mumbai Angels Network onboards Tech Innovations, a leading FinTech company as their newest partner for The Co-Investment Program 22nd, December, 2021: Mumbai Angels Network, a premium platform for early-stage investments, has onboarded Tech Innovations, a leading FinTech company that invests in emerging tech-led startups, as their latest partner for ‘The Co-Investment Program’. With this program, both Mumbai Angels Network & Tech Innovations will jointly invest in select, high-potential startups across FinTech, HealthTech, AgriTech & EdTech. The program aims to partner with like-minded networks and funds to facilitate faster access to capital for growth ramp up. Speaking on the latest development, Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network said, “Our Co-Investment Program is designed to identify high-potential startups and nurture them. Tech Innovations has over a decade of experience backing some of the best tech-driven startups thus making them a natural choice to onboard as our partners. We believe that their extensive knowledge will help us select a promising league of startups and we look forward to working with them, to enable the future of tech-led innovation.” “We are enthusiastic about our partnership with Mumbai Angels Network, which is on a mission to further fuel India’s growing startup ecosystem. The Co-investment program will enable us to combine our knowledge, best practices, network, experience, and capital. Our collaboration will also allow us to identify and nurture futuristic innovations made in India but are global by scale. Together, we believe that we can enable the exponential acceleration of such portfolio companies and unlock multiple synergies across sectors and value chains,” added Mr. Mahesh Ramachandran, CEO and Managing Director of Tech Innovations. The lead management team at Tech Innovations includes seasoned VCs and successful entrepreneurs with multiple million-dollar exits and they are keen to foster companies that bring disruptive innovations in India by investing in and mentoring them through a publicly listed vehicle.  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.

Mumbai Angels Network welcomes Shiprocket, a tech-enabled logistics platform as their latest partner for The Co-Investment Program

 

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Mumbai Angels Network welcomes Shiprocket, a tech-enabled logistics platform as their latest partner for The Co-Investment Program 20th, December, 2021: Mumbai Angels Network, a premium platform for early-stage investments, has onboarded Shiprocket, India’s leading tech-enabled logistics and fulfillment platform, as their latest partner for ‘The Co-Investment Program’. This program aims to partner with like-minded networks and funds to facilitate faster access to capital for growth ramp up.   Shiprocket has been working with D2C startups for over 5 years, helping create a strong, parallel infrastructure for logistics and shipping. With 1,00,000+ sellers and over 90% of D2C brands, they have been a reliable partner for growing D2C brands, enabling them to further expand their reach.   With ‘The Co-Investment Program’ Shiprocket and Mumbai Angels Network will identify startups with unique offerings that can top their respective subcategories or create new ones on their own while showing promising metrics in terms of revenue and profitability. Both partners are also keen on discovering startups with passionate founding teams, industry expertise and strong product portfolio that have an ability to expand their target user segments. Nandini Mansighka, Co-Founder & CEO, Mumbai Angels Network, said, “Since ‘The Co-Investment Program’ was launched to identify and support promising startups, we naturally look for partners that have extensive experience in dealing with early-stage startups. Shiprocket was the perfect choice for us, as they bring a wide spectrum of expertise alongside understanding the distribution and shipping needs of early-stage, fast-growing, and big D2C brands. We look forward to working with them.” “Startups in the growth stage require ample support not just in terms of capital but mentorship in nearly every aspect of the business. Our Rocketfuel Accelerator program has given the experience and understanding required to helping startups succeed. We are delighted to collaborate with Mumbai Angels Network for their innovative approach on ‘The Co-Investment Program’. Their vast portfolio of startups and extensive network of investors makes this a win-win situation. This partnership will not just be for closing deals together but will make startups more efficient, ultimately bolstering the ecosystem,” added Vishesh Khurana, Co-Founder - Growth,  Shiprocket. In 2020, Shiprocket launched its Rocketfuel Accelerator Program to support promising D2C startups with capital and mentorship. The program launched its second cohort in October 2021. Furthermore, Shiprocket’s founding team, Saahil Goel, Vishesh Khurana, Gautam Kapoor, and Akshay Gulati, are actively involved in working with D2C brands for investments/partnerships. 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

Mumbai Angels Network invests in goSTOPS, a backpacker hostel brand.

 

View this email in your browser Mumbai Angels Network invests in goSTOPs, an Indian backpacker hostel brand raising an additional USD 1 mn 9th, December, 2021: Rapidly expanding backpacker hostel brand, goSTOPS, has raised an additional USD 1 mn bridge round within 6 months of the last million dollar Pre-Series-A round concluded earlier this year in June. Showing continued commitment, existing investors participated in this round, namely Mumbai Angels Network, The Chennai Angels, Yuj Ventures, Lead Angels, 1Crowd, Indian Angel Network along with new investors including Rohit Chanana of Sarcha Advisors. The additional bridge round will help the Company accelerate growth further given the strong tailwinds in youth leisure travel till it concludes its Series-A by June’22. The freshly infused funds will be utilized to aggressively acquire new budget hotels and rapidly grow its presence across the country. This move is in line with the renewed and rapid demand for strong post-COVID leisure travel that the youth are embarking on.   The Company aims to disrupt and grab leading market share in the USD 12 bn Indian youth leisure travel opportunities. goSTOPS leases and transforms budget hotels and operates them as backpacker hostels. The community and design-led hotel transformation enables the company to harness efficiencies of the shared economy and make high-quality youth-focused stays accessible within a Gen-Z friendly budget of INR 500 per night. Nandini Mansighka, Co-Founder & CEO, Mumbai Angels Network, said, “Today, travel enthusiasts seek exciting, high-quality travel experiences at more affordable prices. Lack of quality travel accommodation for youth is a big market-need gap and at a price-point of INR 500 per night, goSTOPS is focussed on addressing the belly of this large market. The company, with its strong consumer understanding and full-stack operator model, has clearly found a way of solving this problem at scale. Brand’s high customer satisfaction score and strong unit economics while rapidly expanding through the pandemic were reasons enough to convince us to further invest and up our commitment in goSTOPS.” Pallavi Agarwal, Founder and CEO, goSTOPS, commenting on the bridge funding, said, "goSTOPS has grown 2.5X QoQ to ARR of USD 2.5 million in October 2021. The new bridge funding will allow us to leverage the opportunity presented to us in a post pandemic India to provide experience-driven stays for travelers and grow to USD 5 million ARR by June 2022 – that’s 5x YoY growth through a pandemic. We intend to cater to the exponentially growing market of youth travellers in India, who have stepped out to explore the country after a very stress-inducing two years of the pandemic." Co-Founded by Pallavi Agarwal and Pankaj Parwanda in 2014, goSTOPS aims to provide affordable, fun, and unique stays to India’s youth travelers/backpackers. Operating across 27 destinations in India, goSTOPS has hosted over 500K guests. To cater to the unique preferences of this target audience, the company also recently launched its experiences wing goEXPERIENCES to offer treks, multi-destination tours and in-destination experiences. 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