iAngels is a collaborative network of active angel investors from diverse professional and industry backgrounds looking to invest in early-stage, high-potential startups. It has invested close to `15 crore in 31 startups in 2022. The startups were across sectors, especially health-tech and agri-tech. In the last one year, it also onboarded five principal partners who helped in the expansion of iAngels.
“A huge value proposition for this network is that it’s not just a match-making exercise, since it’s backed by the well-known India Accelerator (a mentorship-driven, incubation programme for startups in mobile technology, finance, gaming, e-commerce and mobility), there is lot more skin in the game,” says Mona Singh, co-founder, India Accelerator. “We aim to grow to 15 countries this year and invest in 100 startups, across domains with assets under management of $20 million.”
Cumulatively, iAngels has funded 76 startups. Some of the prominent companies in iAngels’ portfolio are Paymart, Janitri, SustainKart, Rare Planet, Matter, Stage, says Singh.
According to her, despite the squeeze in funding globally, in India startup funding continues to be strong, with increased investment in areas such as e-commerce, fintech, healthtech, sustainability, and cloud-based technology. “The pandemic has accelerated the shift towards digital solutions and remote work, leading to greater investment in startups that support these trends. There is also a growing focus on diversity, equity, and social impact in startup funding, with investors seeking to support businesses that align with these values. In addition, alternative forms of funding such as initial coin offerings (ICOs) and security token offerings (STOs) have gained traction as a way for startups to raise capital,” she adds.
iAngels recently initiated a small funding round for bringing some strategic players on board – the principal partners. The angel investor network has seven chapters across geographies —US, UK, Australia, UAE, Delhi/NCR, Mumbai and Bengaluru, with some of the principal partners leading these chapters.
Singh says iAngels’ plans also include geographical expansion and improvements in technology and infrastructure such as updating the network’s website, CRM system, creating a dashboard, etc., to support the growing needs of the network and its members. “Given the expansion plans, we aim to double our revenues this year to more than $1 million. Overall, the focus of iAngels is on identifying and investing in startups that have the potential to generate significant returns and growth,” she adds.
-In 2022, iAngels invested close to Rs 15 crore in 31 startups
– The startups funded by it were across sectors, led by health-tech & agri-tech
– The network has recently onboarded five principal partners
– Cumulatively, iAngels has funded 76 startups
– Portfolio companies of iAngels include Paymart, Janitri, SustainKart, Rare Planet, Matter and Stage