US-based start-ups raising funds from India
Indian Angel Network (IAN) is planning to invest over Rs.100 crore in start-ups across sectors in 2021, following on to the success of funding of about Rs.100 crore in 45-50 companies in 2020, with global investors looking at technology groups leading the Indian market such as Jio Platforms.
“We will invest and we will exit both, and we will give returns. I think we will do much better than what we have done this year. I think more than Rs.100 crore we should look at,” IAN co-founder Padmaja Ruparel told Press Trust of India on 15 Feb 2021.
The environment for investment in India has improved to a level where the US-based start-ups have also started raising funds from the country, Ruparel underlined the confidence in funding startups and availability of fundings from venture capitalists.
In 2020, IAN exited 3-4 companies after registering 15 times growth on the invested capital.
Members of the venture capital consortium will evaluate opportunities in biotechnology, augmented reality, manufacturing and in environment space, said Ruparel.
IAN has invested in start-ups like FarEye, Fab Alley, HungryZone, Staqu among others. It is present in different segments including in healthcare, biotech, med devices, and wellness.
“I think the other piece is anything driven by data and Analytics. Anything driven by brand, IT. What we are looking at is innovative ideas with good entrepreneurs,” Ruparel said.
She said that the world is looking at India for growth and investment in Jio Platforms during the COVID-19 pandemic is a testament to this very fact.
Jio Platforms raised a total of Rs.1.52 lakh crore from companies such as Facebook, Qualcomm Ventures, Google etc in mid-2020, when COVID-19 cases were rising every day.
“We will see innovation and entrepreneurs catering to problems in India or catering to solutions for India. I think these solutions will also be applicable for global problems,” Ruparel told PTI.
“I think what 2020 has done will obviously impact 2021, also but we will continue to invest at the same pace or I would say higher pace actually. I think a lot of the new areas will come up. The reality is that onlines and technology are now here to stay,” Ruparel said.
IAN funded about Rs 100 crore in 45-50 companies in 2020, she said. #startups #innovations #venturecapital #banks #investment #technology /fiinews.com
