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Last Updated : May 20, 2019 04:40 PM IST | Source: Moneycontrol.com

Lead Angels to invest in 10-12 startups by March

It currently has its chapters in Delhi, Mumbai, Ahmedabad, Bangalore and Hyderabad.

Moneycontrol News @moneycontrolcom

Lead Angels Network plans to invest across 10-12 startups in the current financial year in entertainment, education and transportation sectors, according to Sushanto Mitra, founder and chief executive officer.

This will be doubling the count as it invested across around six startups during the year before.

The average ticket size of the deals would be Rs 1-1.5 crore, Mitra told Moneycontrol.

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Out of a dozen, two investments have already happened with one being in the field of logistics. The company plans to disclose the names shortly.

Lead Angels was started in 2014 by a team of three people originally from Indian Institute of Technology Bombay to provide end-to-end financial services to startups.

Currently it claims to have over 130 angel investors under its umbrella. Out of this, around 80-90 have already invested in atleast one startup till date.

It currently has its chapters in Delhi, Mumbai, Ahmedabad, Bangalore and Hyderabad.

The angel network has a portfolio of 25 companies. Out of these it has witnessed some remarkable exists. Many startups have also managed to raise follow on rounds as well.

Inter-city taxi service provider Aha Taxi was acquired by Ebizcash an India-based subsidiary of Nasdaq-listed Ebix Inc, last year. Another portfolio company, a milk delivery startup SuprDaily was acquired by food-delivery firm Swiggy in September.

Planet Superheroes a character merchandising company recently raised a $2 million follow on round which was led by DSG Consumer Partners along with from Japan's AET Funds.

Hyderabad-based food-tech startup TinMen also raised an undisclosed amount from online restaurant discovery and food delivery firm Zomato.

(Note: The headline of the earlier version of the story has been updated with the correct spelling of the company)

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First Published on May 13, 2019 06:04 pm
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