IAN invests more than Rs 160 cr into the startup ecosystem across 44 deals this year
As the year 2019 comes to an end, IAN with its Angel Network and Fund has announced that it has invested Rs 160 crore in 44 startups across various sectors this year.
IAN has invested in several ventures across sectors like manufacturing, cleantech, biotech, water, agritech, and cybersecurity. These include startups like Monitra Healthcare, Chakr Innovation, Nocca Robotics, and Mobycy, the company said in a statement.
Padmaja Ruparel, Founding Partner, IAN Fund, said,
“IAN Fund successfully closed its first fund worth Rs 375 crore, in addition to delivering impressive investor returns, with exits from TagBox and Chakra Innovation. As we continue to shape synergies and promote collaborations between emerging business ventures and prominent VCs, the prospects look even more promising in the coming year. We are confident that, with its current growth trajectory, IAN Fund will achieve its objective of enabling the growth of innovative Indian startups with high-quality investment opportunities.”
The year 2019 also saw 11 lucrative exits for IAN investors which include Kwench, LBB, TagBox, Propelld, FabAlley, Myspinny, Wow! Momo, Box8, and Native Special.
The company said that IAN also gave an internal rate of return (IRR) of 34 percent to its investors this year. Several portfolio companies like Coolberg, LBB, Bixcrum, Uniphore, and StyleDotMe raised their next rounds from marquee VCs and strategic investors.
Saurabh Srivasatava, Co-Founder, IAN, said,
“We saw an extremely welcome trend of high-quality founders leveraging the latest technology and innovative business models to build ventures, which attempts to solve many of the challenges that India faces, in healthcare, agriculture, clean energy, etc. They are building world-class, massively scalable companies which will not only have a hugely beneficial impact on our social and cultural milieu but, will also disrupt the global scene in these areas."
Moving forward, the Network and the Fund together aim to build on the impressive performance and support over 500 Indian startups with an investment of over Rs 5,000 crore in 10 years.
(Edited by Suman Singh)