Bangalore, the startup hub of India and also famously known as the Indian Silicon Valley finally has now its own Angel Group. Last night at a launch function in Bangalore, Mumbai Angles along with a select of angel investors from Bangalore and a few from the Venture Capital industry came together for the launch of the much needed Bangalore Angels.Speaking during the launch Mr. Sasha Mirchandani, Co-founder Mumbai Angels said - "Bangalore is the center of startup activity in India. Close to 12 of our portfolio companies are from Bangalore and also a good percentage of our angel group members are from here. We see a lot of apprehension from entrepreneurs about travelling to Mumbai just to meet investors, as a startup its an additional cost and time spent. So, we thought why not bring the investors closer to the startups and entrepreneurs and make them happy. Hence, we decided to launch Bangalore Angels this year."
The launch event had a great set of angel investors and venture capitalists participating along with few entrepreneurs. The launch news followed with a panel discussion on Start-up ecosystem in Bangalore and role of angel investors with Karthee Madasamy, MD Qualcomm Venture, Manik Arora, Managing Partner IDG Ventures India, Naveen Tiwari, Co-founder – Inmobi, Sasha Mirchandani, Founder Kae Capital and others moderated by Kanwaljit Singh, MD Helion Venture.
As a start of activity for Bangalore Angels, following two startups were shortlisted to pitch to all the investors present at the event -TriggerO - A SaaS based solution which enables corporate to run social reward and recognition of employees, customers and partners.
MangoReader - Disrupting the traditional learning way by bringing books to life using technology and making them engaging and fun using videos, animation, quizzes, maps, graphics and interactivity.
With Mumbai Angles driving the launch of Bangalore Angles, we can expect a lot more action in the startup funding scene in Bangalore.
Mumbai Angels is one of the premiere active angel networks in India, having invested in over 40 companies including some of the well known Indian startups like InMobi, Apalya, Dharma, ZipDial and others.