PedalStart closes $250,000 in pre-seed round led by AngelBay, others
- ByStartupStory | December 22, 2022
PedalStart, a Gurugram-based startup founders’ community platform, has so far raised a total of $300,000 in the pre-seed round led by AngelBay, Policy Bazaar, and Paisa Bazaar co-founder Alok Bansal. Mayank Jain, Snapdeal’s Chief Product Officer and Head of Marketing, and others also took part in the round.
PedalStart plans to use the cash to establish a core team and technology for simple movement, connect founders with mentors, and onboard over 3000 entrepreneurs in the community.
“Being a startup founder, I can understand the problems an early-stage startup founder would face in his journey. At PedalStart, watching how they work to solve those problems and help the early-stage startup founders grow in the startup ecosystem hit a nerve,” Alok Bansal said in a media statement.
The company provides an open platform for early-stage startup entrepreneurs to learn, create, and raise capital. With this approach, entrepreneurs receive coaching and money at the appropriate stage, as well as other benefits at the appropriate time, with no random dilution of shares. PedalStart claims to have expanded tenfold in the last eight months.
“We are re-investing in the current round as the company has grown faster than we anticipated, which is a testimony to the execution capabilities of the founders and the team,” Sorabh Agarwal, Co-founder, AngelBay, said in a media statement.
PedalStart, which launched in 2021, assists ex-entrepreneurs, successful startup founders, domain experts, and angel investors in developing founders through their startup ideas.
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