Funding Alert
India’s Mumbai Angels Co-invest with India accelerator for innovative startups
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ByStartupStory | February 16, 2022
Mumbai Angels and India Accelerator have teamed together to co-invest in startups through The Co-investment Programme, which will provide chosen firms access to Mumbai Angels’ Multiplier Programme, an exclusive marketplace for its portfolio companies.
The India Accelerator, which has already invested in 46 businesses this year, intends to increase its commitment this year.
In a month, the site receives over 800-1,000 investment ideas from start-ups.
Mumbai Angels, a leading early-stage investment platform, plans to quadruple the amount of investments raised and start-ups supported by 2022, owing to a growing interest in funding start-ups among family offices and other high-net-worth investors. Approximately 50 start-ups received financing of Rs 80 crore through the platform last year.
The project focus on seed-stage through Series A investment rounds for start-ups, with capital amounts ranging from $50,000 to $1 million (7.5 crore to 10 crore). For larger agreements, the platform collaborates with various networks, people, family offices, corporations, and funds to help startups get funding faster.
Mumbai Angels has now an investments from over 190 start-ups in India, spanning various industries and cities. In recent months, the platform has witnessed an increase in financing transactions in areas such as electric cars, travel, space technology, legal technology, and logistics. With the advent of new-age direct-to-consumer businesses, Mansinghka continued, there is a big deal flow in the consumer products market as well.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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