Members of the angel investment network Mumbai Angels have backed six tech-based student startups with around Rs 1.35 crore (over $200,000) put together at the ‘The Entrepreneurship Summit’ event organised by IIT-Bombay. These ventures include event ticketing venture InstaBounce, online clothing customisation site Faaya, career guidance platform CleverSharks, cash-back site Dealwithus, IoT firm Leaf and online healthy snack store Chloroplast Foods.
The six startups were selected among eight which had pitched their respective business models to 12 investors from Mumbai Angels. The funding amount ranges from around Rs 10 lakh to Rs 63 lakh each.
Here is a quick look at the six startups:
InstaBounce – It is a mobile app for last minute ticket booking of events across categories like wine and food pairing events, karaoke, clubbing, live music gigs, etc. The company raised Rs 10 lakh from VC Karthik, Aniruddha Malpani and Ajeet Khurana.
Faaya – It is an online platform where users can design their own outfits which are then custom tailored. The company raised Rs 63 lakh from 11 investors including Ajay Pandey, Anil Chokhani, Aniruddha Malpani, Bharat Banka, VC Karthik, Ravi Gururaj, Suneel Bandhu, Sunil Kalra, Taha Nabee, Vijay Talreja and Ajeet Khurana.
CleverSharks – It has built a career intelligence tool which projects career trends, alumni career paths, switching options relevant to user interests, branch, sector & company. The startup also covers interviews & case studies of its alumnus and has set up a forum to solve personalised and specific queries. The company raised Rs 12 lakh from Vijay Talreja, Sunil Kalra and Vikram Chachra.
Dealwithus – It is a cash back site which has features like automated link building and cash back meter where the cash can be used for recharging users’ mobile phones or transferring the money to their accounts from wallets. In the first six months of operations it has managed to amass gross sales of Rs 1.3 crore. The company has raised Rs 15 lakh from Ravi Gururaj, VC Karthik, Sunil Kalra, Vijay Talreja, Ajeet Khurana, Vikram Chachra and Suneel Bandhu.
Leaf – It is an IoT firm that is developing devices designed to help a female user make a distress call. The company raised Rs 21 lakh from 7 investors including Ajeet Khurana, Aniruddha Malpani, Taha Nabee, Anil Chakhani, Sunil Kalra, Ajay Pandey and Vijay Talreja.
– It has built Snackexperts.com, an online healthy snack ordering platform. The company has raised Rs 14 lakh from Ajeet Khurana, Taha Nabee, VC Kathik and Ravi Gururaj.
(Edited by Joby Puthuparampil Johnson)