MA Portfolio Company Unocoin raises funding from Tim Draper

MA Portfolio Company Unocoin raises funding from Tim Draper MA Network portfolio company, Unocoin has raised funding from US venture capitalist Tim Draper’s Draper Associates, along with participation from XBTO Ventures and 2020 Ventures. The startup has been featured among the Top 20 companies in The Fintech20: India List, and has won many prestigious awards such as  the ‘Golden SABRE’ award in financial communications for their project, ‘Bit-by-Bit: Building Bitcoin in India’ and ‘TECH30’ award from YourStory. They were recently selected in the Top 5 Cryptocurrency Exchanges in India by The Week. Sathvik Vishwanath, CEO of Unocoin, commented, “We’ve seen a dramatic increase of crypto adoption in India following the lifting of an industry-wide ban by the Reserve Bank of India enacted in 2018. Customer growth rates have surged by more than 10X in the month the supreme court verdict was announced, accompanied by a 5X increase in trading volume in subsequent months. The funding will help us scale our business further, and give us a strong financial foothold to expand our platform’s offerings. We will double down on our efforts to improve our product features and offerings, which will enhance the overall usability and functionality for our customers.” Nandini Mansinghka, Co-Promoter and CEO, Mumbai Angels Network commented “We are delighted with this development and are excited to see how Unocoin brings in crypto-related technology innovation with their current international fundraise as the market for crypto adoption is a large one that is growing exponentially.” 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.

Mumbai Angels Network LifeSciences - a focused platform for the sector

 

Mumbai Angels Network LifeSciences - a focused platform for the sector Mumbai Angels (MA) Network launched the LifeSciences Vertical in February 2020,to provide a single platform for Startups, Corporates, Investors and Institutions in the segment to collaborate, share knowledge and grow. We are seeing an increasing interest from our network of angel investors in lifesciences who are keen to participate in the growth story of new age pharma/healthcare companies. In the backdrop of the pandemic and the ever increasing need to understand the challenges and opportunities in this segment, MA Network organized our First Virtual Conference on LifeSciences Sector on 27th March 2020 which was specially organized for Corporates, Investors, Startups, Institutions and Enablers from the domain. The panel, comprised of sector experts and stalwarts shared their thoughts on how stakeholders will have to contribute to make India a Global LifeSciences Role Model. See More In June, Delhi-based medtech startup Crimson Healthcare raised Rs 1.75 Cr from Mumbai Angels Network Read More & in September, biotech startup Mestastop raised successful funding Read More On 28th August 2020, MA Network organised a large format Lifesciences Virtual Summit - a 3 hour Conference with panel discussions across Biotech, Healthtech and Pharma solutions transforming the LifeSciences sector. The event was well attended by C-level executives and decision makers from companies, large corporations, innovative start-ups, angel investors and venture capitalists. WIth having Dr Krishna Ella, Bharat Biotech and Manish Gupta, Indegene as Keynote Speakers. Santosh Marathe, Apollo Hospitals, Navi Mumbai; Niraj Didwania, HealthCare Global (HCG); Monika Sood, Arete Advisors; Dr Oommen John, Asia Pacific Association for Medical Informatics, Chhitiz Kumar, Phillips; Manish Gupta, Sequent Scientific; Rema Subramanian, Ankur Capital Fund; Amitvikram Sharma, Claris Capital Limited; Venkat Bundla, Garphi Biosciences Pvt Ltd; TCM Sundaram, Chiratae Ventures India; Dr R Kishore Kumar, Cloudnine Group of Hospitals and many others shared their insights with an eager audience. Nandini Mansinghka, Co-Promoter & CEO, Mumbai Angels Network said “Our dedicated LifeSciences vertical is a platform between Pharma/Healthcare companies and startups and investors  to bring disruptive innovations in the sector to the forefront.” 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.

Mestastop, a Biotech start-up, raises funding from Mumbai Angels Network

 

View this email in your browser

Mestastop, a Biotech start-up, raises funding from Mumbai Angels Network  Mestastop is a Bangalore based biotech startup that is stopping the unstoppable ‘cancer metastasis’ and giving life a second chance. Metastasis is the movement of tumor cells through blood and formation of multiple tumors into different secondary sites of the body. Metastasis is responsible for almost 90% of cancer deaths. Unfortunately, though cancer treatments have advanced with targeted therapy and immunotherapy, there is still a huge gap as none of them addresses metastasis. MestaStop aims to provide a solution for such challenges with their Smart Science Strategy; a combination of in vitro tests for scoring compounds (as per their inhibitory potential of metastasis in totality) and then progressing the lead molecules in genetically engineered xenograft models, that stays true to the biology but is faster and easier to monitor. Dr. Arnab Roy Chowdhury, Founder said, “Mestastop is trying to solve a highly complex global healthcare problem and an investment from Mumbai Angels is not only a validation of our vision and progress but also a shot of adrenaline during the pandemic crisis, priming us for the next level.” Satyakam Mohanty, MA member shares his thoughts on the investment, “Discovery is as much key to treating metastatic cancer as is the cure, if not more. The nature of metastatic tumours is such that cure becomes exponentially harder (and more expensive), the later the discovery. Using unique cell based detection IP techniques, Mestastop is charting a pioneering and much needed path to early detection of metastasis. Such work is key to furthering mankind’s understanding of human health.” Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, commented, “Mestastop aims to create a common metastasis directed proprietary platform that will address both discovery and diagnostic goals. We are excited to see how Mestastop will create solutions for cancer care. We see our new LifeSciences vertical growing and we are happy to see more companies from this sector becoming part of our expanding 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.

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

 

View this email in your browser

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

 

View this email in your browser

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

 

View this email in your browser

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.