Calcutta Angels Network & Mumbai Angels network Are Now Partners; To Invest In Startups Combinedly

Calcutta Angels Network(CAN) and Mumbai Angels Network(MAN) announced a partnership today where both Angel Networks will be working together as a single team to bring the best, curated deals to their member base, faster deal closures with their combined strength, standardized deal closure framework and active management of the investment portfolio.

“Our partnership with Mumbai Angels Network will ensure our members get access to the best-in-class startups from across the country. We are also looking forward to extending the full membership experience that being a part of a larger network offers, including investing best practices, learning sessions, active portfolio management and active pitching of our invested portfolio to the next level investors. We are excited to partner with MAN in this first of its kind partnership in the country” said Calcutta Angels Network.

“We are excited to partner with Calcutta Angels in Eastern India. With our nationwide reach of 4 chapters (Mumbai, Delhi, Bangalore and Pune) Mumbai Angels Network has the first access to the best start-ups in the country. With our innovative, process driven investing, we are able to steer the entire investment process smoothly right from curating deals, deal negotiations, deal documentations to actively managing the invested portfolio and working closely with the next level investors for exits. We are honoured to be associated with Calcutta Angels as a partner to bring the same rigour and innovation in angel investing to their member-base” Nandini Mansinghka, Chairperson, Mumbai Angels Network.

Mumbai Angels Network (www.mumbaiangels.com) is India’s leading angel investing & mentoring network with 250+ members across four active chapters - Mumbai, Pune, Delhi, and Bangalore. Their portfolio comprises of 90+ ventures across multiple sectors focused primarily on seed and early stage companies.

Calcutta Angels Network (www.calcutta-angels.com) started out in 2013 and prides itself for being the first angel investment network in eastern India. With a membership strength of 75 they have investments in 21 startups from across India. Their investments are stage and sector agnostic.

Five-years old CAN is relatively new comparing to Mumbai Angels and its recent prominent investment so far are -- LetsMD, a delhi based health-tech startup and Mumbai-based Purple Style Labs. Besides, it also funded two Kolkata-based enterprises. iKure Techsoft was the first startup from Kolkata to have got funds from CA. So far, Calcutta Angels has invested close to ₹10 crore across some 12-odd start-ups. The investments are in the range of ₹65-70 lakh.

Mumbai Angels was started in 2006 and is the first premium Angel network in India. Many members of Mumbai Angels have prior Silicon Valley experience.

Calcutta Angels Network & Mumbai Angels network Are Now Partners; To Invest In Startups Combinedly

Calcutta Angels Network(CAN) and Mumbai Angels Network(MAN) announced a partnership today where both Angel Networks will be working together as a single team to bring the best, curated deals to their member base, faster deal closures with their combined strength, standardized deal closure framework and active management of the investment portfolio.

“Our partnership with Mumbai Angels Network will ensure our members get access to the best-in-class startups from across the country. We are also looking forward to extending the full membership experience that being a part of a larger network offers, including investing best practices, learning sessions, active portfolio management and active pitching of our invested portfolio to the next level investors. We are excited to partner with MAN in this first of its kind partnership in the country” said Calcutta Angels Network.

“We are excited to partner with Calcutta Angels in Eastern India. With our nationwide reach of 4 chapters (Mumbai, Delhi, Bangalore and Pune) Mumbai Angels Network has the first access to the best start-ups in the country. With our innovative, process driven investing, we are able to steer the entire investment process smoothly right from curating deals, deal negotiations, deal documentations to actively managing the invested portfolio and working closely with the next level investors for exits. We are honoured to be associated with Calcutta Angels as a partner to bring the same rigour and innovation in angel investing to their member-base” Nandini Mansinghka, Chairperson, Mumbai Angels Network.

Mumbai Angels Network (www.mumbaiangels.com) is India’s leading angel investing & mentoring network with 250+ members across four active chapters - Mumbai, Pune, Delhi, and Bangalore. Their portfolio comprises of 90+ ventures across multiple sectors focused primarily on seed and early stage companies.

Calcutta Angels Network (www.calcutta-angels.com) started out in 2013 and prides itself for being the first angel investment network in eastern India. With a membership strength of 75 they have investments in 21 startups from across India. Their investments are stage and sector agnostic.

Five-years old CAN is relatively new comparing to Mumbai Angels and its recent prominent investment so far are -- LetsMD, a delhi based health-tech startup and Mumbai-based Purple Style Labs. Besides, it also funded two Kolkata-based enterprises. iKure Techsoft was the first startup from Kolkata to have got funds from CA. So far, Calcutta Angels has invested close to ₹10 crore across some 12-odd start-ups. The investments are in the range of ₹65-70 lakh.

Mumbai Angels was started in 2006 and is the first premium Angel network in India. Many members of Mumbai Angels have prior Silicon Valley experience.

Purple Style Labs Raises Rs 3 Cr from Calcutta Angels, Lets Venture & Others

Purple Style Labs has raised funding of INR 3 Cr from Calcutta Angels, Lets Venture, IIT Bombay alumnus and a clutch of bankers.

Purple Style Labs Pvt Ltd (PSL), founded in Aug 2015 by Abhishek Agarwal, an IIT-Bombay graduate and ex-banker with Deutsche. It aspires to be the biggest fashion house of India managing multiple designer brands in the premium, luxury as well as affordable retail segment.

PSL seamlessly combines designing and styling on a single platform to provide unique experience to end consumers via its offline/online platform called ‘The Stylist’. Contrary to the conventional marketplace model, PSL positions itself as a federation model where all the designer brands and stylists associated with PSL are centrally managed but at the same time retaining their autonomy.

Talking about Purple Style Labs, and the funding round Abhishek Agarwal CEO & Founder said, "We believe that an idea can scale in the Indian ecosystem without losing the path to profitability, only when it gets the right guidance from people who have historically created businesses in India. And we have been successful in bringing the right set of investors to guide us for the journey.”

Shivam Shah, Partner, Augment Ventures says “Purple Style Labs, has a unique approach, to disrupt the multi-billion dollar fashion Industry by building a digitally enabled, federation of designers. A solid technology platform, coupled with an entrepreneur who has clarity of vision, I am confident in Purple Style Labs ability to execute.”

The company has also recently on boarded senior executives, Nabeela Moinuddin (Ex- Deloitte, Vistaprint) and Nishank Gupta (Ex- Housing, Urban Clap)

This fund will be used to further develop the technology both on enterprise and end consumer side and increase the number of designers and stylists associated with the company.

Social E-Commerce Startup Klip Raises Rs 3 Crore From VentureNursery, Mumbai Angels & Others

Mumbai-based Klip.in, a social product discovery tool for online shoppers has raised about Rs 3 crore ($0.5 million) from VentureNursery, a start-up accelerator, members of Calcutta Angels, Mumbai Angels as well as several high net-worth individuals from India and abroad.

Klip is a product discovery tool for interesting and off beat lifestyle products. It helps its users to find and create a virtual collection of far out, creative and quirky products.

The funds raised will be used 'to scale up technology and marketing teams,' said Raghav Kanoria, cofounder & director, Calcutta Angels.

In 2013, Klip raised an undisclosed from Venture Nursery and in the same year received undisclosed amount from Mumbai Angels and a few individual investors. Venture Nursery and Mumbai Angles are the two investors who have supported Klip throughout its journey.

Apoorv R Sharma, executive vice president, VentureNursery said, "This validates the faith we placed in the ability of Klip's founding team and their vision. Klip shows that the best approach to social commerce is to build a strong community of users and we are excited to see this next phase of their evolution."

Mumbai based Klip.in was started by college mates Maneesh Madambath and Harsh Gadia back in 2011. They have also be running Smursh Media, a media agency, for the past five years now.

Currently, Klip has nearly a million products from over 900 stores that thousands of its users 'klip' and curate from.