Bengaluru-based online startup-funding platform LetsVenture announced to day that it has brought on two high profile angels – Ratan Tata and Mohandas Pai, as advisers and investors.
This news came just a week after LetsVenture announced a Series A investment from a group of high profile entreprenuers/investors in the country. Notably,Ratan Tata and Mohandas Pai too participated in this round which was led by Accel and Anupam Mittal of People Group.
Founded in 2013 by Shanti Mohan and Sanjay Jha, LetsVenture currently has more than 5,400 registered startups and about 1,300 investors from 20 countries on its platform. The platform has so far helped 53 startups to raise close to $17 million.
“The addition of Mr. Ratan Tata on our list of advisors, is an endorsement of LetsVenture as a trusted platform for entrepreneurs and investors. Mr. Mohandas Pai has been working with us actively and we continue to look forward to his guidance as we scale the venture. We are excited and privileged to have both of them on our list of advisers,” said CEO Shanti Mohan.
Ratan Tata has invested in atleast a dozen Indian startups in the recent past including Ola, online women’s apparel store Kaaryah, online lingerie firm Zivame, Paytm,online auto classified portal Cardekho and Snapdeal.
LetsVenture levies a 2 to 3 percentage charge of the entire funding round as commission on the startups, as well as around 20,000 rupees ($320) as annual registration fees from investors, which makes it one of the better bargains both parties are likely to find in the startup universe.