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.

Blusmart raises $6.8 M funding in pre-series-A round

 

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Blusmart raises $6.8 M funding in pre-series-A round Mumbai, September 07, 2020: BluSmart,  all-electric ride hailing platform has raised $6.8M / 51Cr in funding from multiple angel network and  investors including Mumbai Angels, Inflection Point Ventures, Venture Catalyst, Survam Partners, Chattisgarh Investments Ltd., JITO Angel, Lets Venture and Kaplavriksh Trust. BluSmart will utilize the funding to expand the number of cars on the platform, set up more charging infrastructure, technology improvements and expand the geographical reach. BluSmart is also in discussions to raise venture debt. BluSmart is India's first and largest all-electric, on-demand smart mobility platform led by serial entrepreneurs Anmol Singh Jaggi and Punit K Goyal. The company offers reliable, affordable, safer, smarter, and sanitized electric cabs to consumers in Delhi NCR, and is looking at expanding in Mumbai. Its USPs include Zero Surge Mobility, Zero Emission Mobility and Zero Ride Denials. Building an electric ecosystem with strategic partnerships across automotive, infrastructure and energy companies, the startup further plans to add thousands of electric cars and hundreds of charging stations on its all electric ride-sharing platform in 2021. BluSmart’s zero-emission smart urban mobility service reduces overall air pollution. Since its inception it has completed clean 5,000,000+ Kms with 200,000+ clean rides and 375,000+ Kg CO2 saved. Customers can seamlessly book the rides through the Blu Smart iOS and Android App or can simply call the booking number and enjoy the no-surge pricing and zero cancellation charges.  Talking about the freshly raised capital, Anmol Singh Jaggi, Co-founder, Blu Smart said, “We aim at bringing in a new narrative in the EV mobility space by giving the highest quality service as evidenced by our app rating, which is highest amongst all ride-sharing platforms and thus, transforming India’s mega-cities by providing convenient, sustainable and affordable mobility with great benefits for consumers, businesses and society at large. We will be expanding into more cities starting from Mumbai and then onwards to Bengaluru and other cities.” Senthil Kumaran, MA Investor said "With the world decisively moving towards Green Technology, it is exciting to see Blu Smart taking big steps in proliferating the use of electric cabs. With newer technology dramatically reducing the cost of energy storage in the recent past, Blu Smart's push for growth seemed like the obvious thing to do, and a great opportunity for us to participate in it. As investors it feels we have made the right choice." “Over the last decade electrification in mobility and transportation has created significant technological advancement. As EVs gain wider adoption over the next decade or two, we see good long-term investable opportunities throughout the entire EV supply chain. We are happy to welcome Blu Smart to our diversified portfolio” said Nandini Mansinghka, Co-Promoter & CEO, Mumbai Angels 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 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.

Trukky, an online logistics service platform, raises funding from Mumbai Angels Network

 

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Trukky, an online logistics service platform, raises funding from Mumbai Angels Network Trukky is a Gurgaon based startup that is a logistics aggregator offering On-demand transportation solutions to cater to goods movement in both full load & part load segments. They have developed a cargo intelligence engine which predicts the cargo type based on volume, mass & other variables to assist upfront pricing engine and supply engine. Subhasish Das and Saswat Sahu, founders said, “During nationwide lockdown the company not only performed well with 10% Quarterly growth but also turned EBITA positive driven by digital interface to improve customer acquisition, near zero cost of customer acquisition & optimizing available cargo space through load sharing services to move essential goods. Funds raised will be used to enhance user experience & freight intelligence for better pricing and digital load consolidation to make load sharing services convenient and safer for spot bookings.” Neil Mehta, Mumbai Angels Network member shares his thoughts on the investment, “Trukky is attempting to bring the SME logistics space into the internet era with their truck spot-booking platform. Always exciting to see experienced founders tapping into yet another market waiting to be digitized.” Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, commented, “Trukky is a web and app based online transport booking platform that makes the process of booking a truck easy for quick and prompt goods delivery option. We see a lot of progression in the online transport booking sector as we have observed a dynamic shift from offline services to online services which are easy to access and we are happy to introduce Trukky as a part of our portfolio”. 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.

Dave.Ai, an AI sales augmentation platform, raises funding from Mumbai Angels Network

 

Dave.Ai, an AI sales augmentation platform, raises funding from Mumbai Angels Network

Dave.Ai is a Bengaluru based Artificial Intelligence sales augmentation platform, has raised an undisclosed amount in their pre-series round of funding from Mumbai Angels Network, GHV Accelerator, IIIT Technology Venture partners and Mohan Kumar, CEO of Crestere Technologies. DaveAI helps brands create personalized sales experiences powered by a virtual avatar. From replacing chat bots with digital human interfaces on the web to creating contactless experiences in physical spaces, the startup is creating a new dimension for product discovery moving away from the traditional websites & four wall stores.  DaveAI is a patent pending Empathetic AI platform that mimics a human sales brain using a blend of technologies like Speech & NLP, facial detection, Visualization and a multi-dimensional affinity engine. Brands can create sales experiences on the web, VR and AR using DaveAI. DaveAI is also a member of Nvidia’s Inception program and Intel India’s Maker Lab.

"We are pleased to be backed by investors who understand technology & believe that world class deep technology products can be built in India. DaveAI is an enterprise grade AI platform for creating the next generation of Sales Experiences. This investment will help us enter new markets & sustain this growth at a global scale" said Sriram, Co-founder & CEO – DaveAI

"With the increasing influence of Artificial Intelligence in our daily lives Dave AI is making the most innovative products which have a very promising potential in the new world of Covid. Using NLP technology for Sales Analysis can help given a new dimension for marketing and advertising" - Jital Shah, MA Investor.

Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network commented, “Innovation of using Digital human avatars for having digital conversations is the best way to merge the physical and digital world altogether. We believe this innovation is going to progress in future by transforming enterprises. AR/VR technology has a vast market that offers a potential new way of interaction between customers and the world around us.”

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.

Edhusk, an edtech startup, raises funding from Mumbai Angels

Edhusk, an edtech startup, raises funding from Mumbai Angels

EdHusk is a Jaipur based hybrid edtech startup providing personalized 1-on-1 services at students' home as well as EdHusk learning hubs by leveraging technology-driven conceptualised learning models. EdHusk is backed by a team of IIT alumnus.

Himanshu Meena, Founder of Edhusk, “Mumbai Angels Network has been very supportive through the whole process of raising funds. With these funds, we plan to bring about significant changes by expanding our services to new domain and automate the whole process of tutor finding”

Abhishek Pansari, MA Investor commented on the investment, “As each child is unique, a much required personalised development needs of the child are catered to quite brilliantly by Edhusk. This approach together with the passion of the founders to take Edhusk PAN India, called for an investment from me in this Company”

Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network commented, “We are happy to announce Edhusk as a part of our diversified portfolio. Edhusk is aiming to provide students with easily accessible high-quality customised learning and activities designed to reignite the love for learning through better understanding.”

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.

BBBS raises $ 1 Mn USD through Mumbai Angels Network

BBBS, a Defence tech start-up,raises $1 Million USD through Mumbai Angels Network

Big Bang Boom Solutions, a Defence tech company has raised $1 Million USD through Mumbai Angels Network in their overall $1.5 Million USD Series A round-size.  Big Bang Boom Solutions was founded in 2018, headquartered in Chennai by Praveen Dwarkanath and Dr. Shivaraman Ramaswamy. Big Bang Boom Solutions (BBBS) is a new-age defence tech startup which is developing integrated intellectual properties for defence. The company managed to win two prestigious iDEX grants in 2 product categories with SPARK grants of INR 3 Cr from the Department of Innovation; and is on track to deliver high technology systems to the Indian Armed Forces. They also have other technologies which they have developed in-house. They also have excellent collaborations with high technology players and individuals across the country. The company has received earlier investment from an Individual investor to the tune of INR 5 Cr.

Praveen Dwarkanath Co-Founder & CEO of BBBS said, "We are excited to take next steps in our growth at BBBS. We are thrilled to partner with MA Network who have not only supported us in raising funds but also connected us to their vast network of investors for business synergies. We will now have an addition of highly intellectual and well placed people across the country. We view this as a competitive advantage."

Mahesh Agarwal, MA Investor commented "BBBS has a lot of potential to grow with FDI Investment policy and now Indian Government tenders up to 200Cr to Indian companies only policy will boost innovations. BBBS has proven records of winning iDEX challenges."

Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, commented, “We are seeing a dynamic shift in how the government is looking at defence as a sector for startups to innovate, research and build technologies from ground-up and put India on the global footprint. We are happy to welcome BBBS in our expanding diversified portfolio and participating in this industry-defining the near future and is the backbone of our economy”

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 and Chennai). It has a 140+ strong portfolio with 45+ exits and has invested 150+ crores.

Aerostrovilos, an automotive startup, raises funding from Mumbai Angels

Aerostrovilos, an automotive startup, raises funding from Mumbai Angels

Aerostrovilos, an automotive company has raised funding from Mumbai Angels Network. Aerostrovilos Energy is an IIT Madras incubated startup that is building India’s first indigenous Gas Turbine for power generation. Aerostrovilos is developing a micro Gas turbine as a one-stop solution for vehicles and generators to solve the air pollution problem. Their patented technology brings in extremely low pollutant emissions of NOx, CO and PM.

Rohit Grover, Co-Founder of Aerostrovilos said, "MA has helped us in raising funds seamlessly. With these funds, we plan to complete the full POC of Turbine Generator. Gas Turbines are the future and we are standing at the cusp of creating a revolution where our fuel flexible MGTs will become mainstream replacing the existing DG sets for the backup power”.

Kartik Kajaria, MA member sharing his thoughts on this investment, “Aerostrovilos has true potential to disrupt the heavy vehicles segment provided it utilises the expertise of the founders and adheres to strict timelines in the development of their game changing TEV technology”.

Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, commented, “Aerostrovilos is building Gas Turbines generators which have the cleanest emissions, and this technology will be indigenized in our country. We are happy to have Aerostrovilos Energy as a part of our portfolio as we see a dynamic shift in the automotive sector”.

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.