India’s oldest and largest angel network Indian Angel Network (IAN) has made an undisclosed investment in London-based Aznog, a VoIP telecom startup.
IAN investor members, Alok Agarwal, Harsh Hada and Vishal Khare, have led the round of investment in Aznog, with Alok and Harsh also joining the company’s board, as part of transaction.
The startup will use the freshly raised funds in building its team and scaling the startup’s infrastructure, as it looks to service more users around the globe.
Aznog, which was formerly branded as CalLiberate, was founded in 2012 by Amogh Meshram and Dragos Dinu, and was originally based in Nagpur, but relocated to London in July earlier this year. Aznog is aiming to become a substitute for mobile carriers. With its VOIP services it empowers people to call anyone, anywhere without buying call credits or subscription.
It is currently available to people from United Kingdom and Germany and is as an Android app which allows to make unlimited & free, local & international phone calls directly to mobile numbers and landlines without having to pay for calls.
Aznog’s android app, which works on 3G, 4G, LTE & Wifi, currently allows users in UK and Germany to make calls to 20 countries across the globe.
Founded in 2005, IAN has over 350 investor members and it is spread across 10 countries. It is also the world’s first angel investor group to establish operations outside of its home country.
IAN, which incubates about 20 startups every year, has invested in 29 ventures in 2014, and has an overall portfolio of over 100 ventures, spanning 16 sectors across 7 countries.