To help startups meet their immediate funding requirements, Delhi-based India Angel network (IAN) has launched a ‘Small Ticket Funding’ programme that will offer a fixed investment of Rs 25 lakh ($39,888) at a fixed valuation of Rs 2.5 crore ($398,883) post investment.
As per a VCCircle report, the programme will enable entrepreneurs and early-stage ventures to kick-start their ideas. If the plan is shortlisted, the venture could get funding in less than two weeks. On an average, IAN invests $400,000-$600,000 in companies, while funding can go up to $1 million.
IAN includs 300 investors across 10 countries, has a portfolio of more than 105 companies across multiple sectors such as IT, mobile, healthcare, education, gaming, hospital, semiconductor and social media. It had also invested in Gurgaon-based Process Nine Technologies Pvt Ltd, which offers online translation and transliteration from English to Indic via a cloud-based Application Programme Interface (API).
In February 2015, Retailworx which owns and operates food and vegetable retailing startup, FreshWorld secured an undisclosed amount from IAN and Kris Gopalakrishnan. New York-headquartered Intelliber, is in talks with IAN and other investors to raise $2 million in its Series A round of funding. Besides India, IAN has already invested in countries such as US, the UK, Canada, France, China (Hong Kong), Singapore and Sri Lanka.
In October 2014, London-based productivity app developer Lowdownapp had raised an undisclosed amount led by Indian Angel network, which recently started its operations in UK. Also, in the same month, Hyderabad-based start-up, Zippr that solves the problem of complex addresses on Google maps by providing a unique address, has closed INR 6 crore in Angel funding led by Indian Angel Network and a few other investors.Category News Startups