Ah! Ventures, a Mumbai based startup, has just recorded its first ever exit in startup Harness Handitouch. The Chennai based company is currently going in for a series A investment of an undisclosed amount from Luxembourg based Armat group. The startup had successfully raised a funding of Rs. 1 crores two years ago from investors, members of Club Ah!, part of Ah! Ventures, a platform which brings together entrepreneurs and investors.
“It was a profitable exit for us. The Series A investors wanted all the existing angel investors to exit,” said Abhijeet Kumar, founder, Ah! Ventures in a statement to Economic Times.
“In all 12 investors have exited in this round; including 9 of our investors, and financial transactions have been closed. We are targeting to have many more such exits in near future and we shall be doing so by investing into high quality startups and entrepreneurs,” added Kumar.
Founded by an IIT Madras and ISB Hyderabad alumnus, Subramanaian Viswanathan, Harness Handitouch is an education technology company that leverages tablet and the cloud to create connected learning. The company has an aim of enhancing the teaching experiences through its platform. The company though headquartered in Chennai, India, also has a corporate office in the United Kingdom. It currently sells in six countries and has over ten thousand learners in these countries. Apart from this, Handitouch also works in areas such as corporate training and online coaching.
The Mumbai based Ah! Ventures has made around ten investments through the help of its network of investors since the year of its existence and the startup has some big plans in store for this year.
“We will be investing in 10 to 15 startups this year through our network of investors, and plan to invest in ticket size of around Rs 6 crores ($1 million). We are sector agnostic but are picking good teams before backing them” Kumar said.