Sunday, May 26

Tag: Angel funding

Board Infinity raises $320k funding from Angel Investors
FUNDING

Board Infinity raises $320k funding from Angel Investors

New Delhi, 8th July 2019: Board Infinity, an Ed-Tech Startup raises $320k (Rs 2.2 crores) in an angel funding from a group of angel investors. Founded in 2017 by Abhay Gupta and Sumesh Nair, Board Infinity provides short skilling courses delivered by industry experts in live classes format across emerging technologies, management roles. The startup will use the funds to improving the technology platform and expand its current learner base in Tier 2-3 cities.  Angel investors who invested in Board Infinity includes Mr. Ambarish Raghuvanshi Ex-CFO of Infoedge; Maheshwer Peri - Founder of Careers360; Vishal Soni & Ritu Soni - Founders of a Health & Wellness startup; Manish Gupta, Founder of UINCEPT- EdTech accelerator; Nirmal Singh, MD of Atraxn Ventures and founder of Wheebox ; ...
To Remove Angel Tax, Indian Government Proposed Series of Steps
INDIA

To Remove Angel Tax, Indian Government Proposed Series of Steps

India Finance Minister proposed a series of steps to remove angel tax woes of start-ups and relaxation from income-tax scrutiny. In her maiden budget, the finance minister noted that start-ups in India are taking firm roots and their growth needs to be encouraged. "To resolve the so called angel tax issue, the start-ups and their investors who file requisite declaration and provide information in their returns will not be subjected to any kind of scrutiny in respect of valuations of share premiums," she said. The issue of establishing identity of investors and the source of funds will be resolved by putting in place a mechanism of e-verification, she added. "With this, funds raised by start-ups will not require any kind of scrutiny from the income tax department," the minister...
MovingNow Raises Angel Funding From a set of Individuals
FUNDING

MovingNow Raises Angel Funding From a set of Individuals

Logistics Tech company MovingNow raises angel funding from a set of investors. This was led by a couple of big-ticket individual investments from NRIs giving them the honour of receiving FDI in the angel round. MovingNow has introduced a unique pricing algorithm for their B2C business which they have filed for a patent that makes it simple for the users to place moving orders on the website. While B2B business is conducted on the mobile application on Demand/Supply mechanism. Most of the funds would be utilized to expand into new geographies in India. This would result in hiring additional staff and improve upon technology to correlate with the growing bandwidth. Founding CEO of MovingNow Manish Datta says, "Logistics must be simple. We at MovingNow, inspired by the optimism of the ...
Online Shopping Platform Modestreet Raises Angel Funding
FUNDING

Online Shopping Platform Modestreet Raises Angel Funding

An online omnichannel fashion shopping and discovery platform Modestreet Internet has secured an undisclosed amount in a funding round. The round was led by angel investors Anshika Aggarwal, a chartered accountant and EY executive. The funds so raised by the startup will be utilized to launch its operations in Delhi-NCR, Jaipur, Agra and Chandigarh and to strengthen its technology teams. These plans were stated by Abhitosh Yadav, the co-founder of the company. Modestreet was founded by Abhitosh Yadav and Rohit Chhabra who both are alumni of the National Institute of Fashion. The startup offers an online and offline fashion retail platform which includes social networking and augmented reality services. The company also caters to businesses in the fashion retail space. “As a communit...
Mumbai Based GAIA Bespoke Raises Investment From Angel Investors
FUNDING

Mumbai Based GAIA Bespoke Raises Investment From Angel Investors

Mumbai based GAIA Bespoke, a one-stop destination for women’s tailor-made Western wear, raises a recent round of funding from Angel Investor Sanjib Jha, Lead Advisor at SIDBI/World Bank and former founding CEO of IntelleGrow. The brand will strengthen its operations followed by planned expansion to other cities. Founded by Gayatri Thampi, GAIA Bespoke a fashion startup helps solve day to day challenges of modern day woman to dress the way she wants with one simple solution Made to Measure Clothing! The online collection of 1000 plus templates of tops, dresses, jackets, trousers, skirts, gowns and much more along with a unique DIY designing tool helps customers self-design their garments as per their preference with a “Made to Fit” clothing option. GAIA Bespoke has their offline retail f...
Oxygen Optimizer Startup Raises Rs 2 Crore Funding
FUNDING

Oxygen Optimizer Startup Raises Rs 2 Crore Funding

Bonphul Air Products Pvt. Ltd, the company behind oxygen optimizer ‘OxyMax’, recently raised Rs 2 crore (Approx $293,000) in an angel funding round from Atul Gupta, director at computer spare parts firm Rx Infotech, and Saurabh Rastogi, director at packaging and food processing machines manufacturer Karmesh Global Technologies. In a previous round of funding that occurred in October 2017, Bonphul received an undisclosed amount from Satish Bhatia, an investor based in Faridabad. The funds raised will be used to expand the company’s product portfolio and drive its sales and marketing network. Additionally, it is planning to boost its technology development and provide customized solutions for uses in various segments such as hospitals, schools and shopping malls. Bonphul was founded...
Indian Market Regulator Sebi will revise rules for Startup Angel Funding
INDIA

Indian Market Regulator Sebi will revise rules for Startup Angel Funding

Market Regulator, Securities and Exchange Board of India (Sebi) is planning to increase the maximum investment for angel funds to INR 10 crore while it was previously limited to INR 5 crore. India is going through a rapid change phase, especially concerning startups and funding. Angels investments are growing ever higher every passing week and the new regulation of the market will thereby provide additional opportunities to angel funds, according to regulatory officials. On the other hand, the minimum investment by an angel investor will remain INR 25 lakh. The regulatory board would also like divide by two the minimum corpus size required for an angel fund to register with it as it currently stands at Rs5 crore. Another measure the Sebi is looking forward to update concerns the maxi...
Venture Gurukool Launch $20 million Fund for Indian Startups
News

Venture Gurukool Launch $20 million Fund for Indian Startups

Venture Gurukool, a platform established to assist early-stage startups, is planning to launch its first fund called VG Coop Fund with a target amount of $20 million until the end of April, said Mahendra Swarup, founder of the entity. The fund will include a greenshoe option to raise another $20 million, will be used to invest in business-to-business and consumer technology start-ups. According to Swarup, the company will collaborate with three large Chinese investors who will be co-investing with Venture Gurukool. “We are floating a small fund, where we will first identify such ventures that have similar successes in China. The Chinese only want to invest in spaces they are familiar with and they have had successes in China itself. The idea is not only to fund Indian start-ups but t...
Nasscom Expresses Concern Over Fall in Angel, Series A Funding into Indian Startups
News

Nasscom Expresses Concern Over Fall in Angel, Series A Funding into Indian Startups

Nasscom, the software industry lobby has once again expressed concern over the falling funding into indian startups and called for added focus to galvanise the entrepreneurial ecosystem. The National Association of Software and Services Companies (Nasscom) had last November shared its concern over the taxation issues in the startup scene, which led to a steep 50 per cent fall in angel investments and a significant decline in series A funding. "While angel investments are the critical first piece that gets a startup going, series A funding is the one where the angel investors really make their exits and make money. Thats what incentivises them to continue their investments," Nasscom president R Chandrashekhar said. "We had pointed that out and felt that corrective measures are needed. ...
99perhour.com Raises $300,000 From Angel Investor Mr. V. Aanand R.
FUNDING

99perhour.com Raises $300,000 From Angel Investor Mr. V. Aanand R.

On-demand services 99perhour.com has raised a seed fund of $300,000 from angel investor Mr. V. Aanand R. of Virginia State (USA). The fund will be utilised to expand service categories from the present 18 to 100 across - utility, professional and personnel services. Hourly paid services is a new concept in India and the firm is happy that within a short span they have completed 20000 orders in Hyderabad alone with 98% positive feedback. With such accomplishment, 99PerHour foresees a huge potential for their model across the globe. Presently, the company 99PerHour Services (India) Pvt. Ltd. is building its vendor database in Singapore, Virginia State (U.S) and Santiago simultaneously which will help them begin their operations soon. 99PerHour delivers top-quality on-demand services...
IIT Bombay Incubated Lucideus Tech Raises Funds From Angel Investor
FUNDING

IIT Bombay Incubated Lucideus Tech Raises Funds From Angel Investor

Cyber security service provider Lucideus Tech has received angel funding from Amit Choudhary, director of Motilal Oswal Private Equity Advisors. The start-up, which was incubated by IIT-Bombay, has previously received funding from Anand Chandrasekaran (former Snapdeal chief product officer) and Flipkart chief financial officer Sanjay Baweja. It helps enterprises assess risks to their IT infrastructure. "Typically, our angel investors have invested in the range of about USD 50,000-100,000 individually," Lucideus co-founder and CEO Saket Modi said without disclosing the size of the latest round of funding. Lucideus will use the funds for expanding its team and business operations. "The funding has also to do more with the mentorship that our angel investors provide. We have st...