The India’s largest angel network has enabled investments of over US$49 million in seed and early-stage ventures in 2016
The negative investment sentiment in the Indian startup ecosystem hasn’t slowed down Indian Angel Network (IAN), the largest angel network in India. As per a statement, IAN has enabled investments of close to Rs.340 crore (over US$49 million) in seed & early-stage, innovative ventures in 2016.
IAN has invested in a wide range of sectors through 2016, across e-commerce, education, healthcare, gaming, hospitality, media, IT, lifestyle, transportation, biotech and mobile services startups.
The companies include PayTunes, mobile advertising platform; Lawrato, legal advisors; Roadhouse Hostels, a chain of backpackers hostels; 6Degree, tech-enabled fashion venture; Little Black Book , Delhi-based city guide; Roast, entertainment media firm, SP Robotics Works, robotics startup; Styledotme, fashion app; Prophesee, digital analytics firm; Staqu, marketplace for architectural services; Designbids, Orahi, carpooling app; Transcell technologies, biotech startup; one way cab, cab service provider, to name a few.
Saurabh Srivastava, Co-founder, IAN and Co-founder and past Chairman of NASSCOM, said: “The government’s focus on Start Up India has truly energized the entrepreneurial ecosystem. For IAN, the momentum of 2015 only intensified in 2016 and we saw over 7,000 entrepreneurs, addressing both local and global opportunities with ever more innovative technologies and business models. It is time for investors to come out of the woodwork and participate in this exciting revolution and celebrate Indian entrepreneurship.”
Padmaja Ruparel, Co-founder & President, IAN, said: “It has been a great year for us. We have seen the critical role that angel investors play in breeding innovative companies. On the other hand, IAN has helped investors build a risk hedged portfolio spread across sectors, stages, geographies, enabling the kicker in Investor portfolios.”
The year 2016 has been an exciting year for the IAN by investing in about 30 deals, averaging three deals a month while getting cash exits for our investors with 4X returns in 26 months and 2X returns in 15 months.
With close to 450 investors from 10 countries, IAN’s presence spans seven locations, which include cities in India and the UK. So far, it has invested in 120-odd companies.