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.

Calcutta Angels Network Invests in LetsMD, a Delhi Based Health-Tech Startup

Siddharth Pansari, President CAN announced CAN’s investment in LetsMD, a Delhi based health-tech start-up which addresses the discovery, transparency and affordability problem in healthcare through a marketplace based approach. Started only in December 2015, LetsMD has already on-boarded around 300 hospitals and single specialty chains in Delhi-NCR as partners for the marketplace, including big names like: Fortis Healthcare, BLK Hospital, and Apollo Hospitals etc.

The company is founded by serial entrepreneurs with experience across sectors. Nivesh Khandelwal, a Wharton MBA with more than a decade of entrepreneurial experience across sectors. Prakhar Gupta, a Purdue university grad with start-up experience across Silicon Valley and India. Tenzin Thargay, an IIM - B grad with more than a decade of experience across consumer internet and digital health platforms.

Siddhart Pansari, commented, “LetsMD is in the process of creating a unique platform by bringing together all actors in the healthcare ecosystem on to a single integrated marketplace. It is CAN’s first round with LetsMD and incidentally is the biggest investment for CAN members in terms of the amount invested. I’m hopeful LetsMD will be a game changer in the healthcare sector."

Under the able championship of Mr. Prashant Jalan and Mr. Saurabh Dudhoria, CAN has led the fund-raising round & completed the entire task. Mr. Jalan said, “This is the first co-deal championship for me and am contented by the outcome. LetsMD will have a huge impact in the healthcare sector and in the lives of the users as well.”Dudhoria commented, “This investment is a testament to the team’s commitment and we, at CAN, are extremely excited by this and look forward to associate with LetsMD in the future.”

Nivesh Khandelwal said, “LetsMD will enable Accessibility and Affordability of tertiary level healthcare in India. We believe CAN, with its large and diverse network of investors will play a key role in enabling relationship acquisition for LetsMD. This fund raised, will be used to build the technology, develop the team and marketing.”

Shanti Mohan Founder of LetsVenture, said, “LetsMD addresses two of the biggest problems of the Indian healthcare industry : price transparency and timely financing for an almost uninsured population. Patients and their families need such platforms to meaningfully compare the quality & pricing of procedures across hospitals, and be able to pay for them before it is too late. The company has received great interest from Investors on LetsVenture who are not only providing funding, but are also supporting the business with advice and connections.”

With this investment, members of CAN now hold around 8% stake in LetsMD for an undisclosed amount. Other than CAN, LetsVenture also invested in the company.

LetsMD, an integrated classifieds allowing users to compare surgery prices of hospitals, announced a successful Angel round for an undisclosed amount with Anupam Mittal, Calcutta Angels Network, Currae Healthtech Fund and other investors on LetsVenture.