Exclusive: E-commerce aggregator Baggout eyes funding from IAN, others
S.B. WebTech Pvt Ltd, which operates product aggregation and cashback website Baggout, is in talks to raise funding from the Indian Angel Network and some individual investors, two people close to the development told VCCircle. The overall funding is likely to be a little more than Rs 2 crore ($300,000), of which close to three-fourths is to come from the IAN. Individual investors including Jabong CTO Sumit Jain, Commonfloor co-founder and CEO Sumit Jain, DGM Network founder Anurag Gupta and IREO PE Fund director Varun Khanna will pitch in the remaining amount. Delhi-based Baggout is likely to use the funds...
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Indian Angel Network Services Pvt. Ltd. is a group of angel investors including entrepreneurs and chief executive officers. It provides funding solutions to startup and early stage ventures operating in various sectors such as agriculture, food processing, banking, financial services, biotech, pharmacy, life sciences, clean tech, water, education, healthcare, information technology products and services, media, entertainment, mobile value added services, retail, telecom, embedded domains, travel, tourism, hospitality, knowledge process outsourcing and business process outsourcing. The company invests between $0.3 million and $1 million with an average of about $0.4 million to 0.6 million and exiting over a 3 to 5 year period through a strategic sale. The company was founded in 2005 and is based in New Delhi, India.