JITO Shark Angels enter Dubai with Rs 20 Cr commitment

At JITO Dubai International Summit 2024, organised by JITO Shark Angels and JITO Incubation and Innovation Foundation, the angels network saw Rs 20 crore committed by a panel of sharks to startups.

Startups from logistics, space tech, fintech and SaaS AI industries, including Elixia, Astrophel Aerospace, GetPlus, and Zintlr, received the investment commitment.

Investors including Motilal Oswal, CEO of MOSFL; Vimal Shah, Co-promoter of RDB Group; Vimal Kumar, Director of WMA Group; and Anil Singhvi, Director of JG Group, were among the angels who contributed to the pledges.

"In navigating the evolving entrepreneur landscape, platforms like ‘JITO Shark Angels’ nurture talent and drive impactful initiatives. This will set an unprecedented benchmark, showcasing the prowess of JIIF as a truly inclusive platform and highlighting the diverse talent and expertise of our esteemed sharks," said Rajat Mehta, Chairman, JITO Incubation and Innovation Foundation (JIIF). 

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"We look forward to the continued support of all stakeholders in providing the necessary support and best resources to our entrepreneurs and being a catalyst in their growth journey," he added.

The JITO Dubai International Summit 2024 brought together visionaries and industry leaders to discuss innovation and empowerment.

JIIF, a subsidiary of Jain International Trade Organization (JITO), has invested over Rs 200 crore in 80 companies and incubated over 25 Jain entrepreneurs, contributing significantly to the growth of the startup ecosystem, backed by its esteemed investors.

It has funded more than 90 companies, incubated over 44 startups, and facilitated 10 exits. With a network of over 100 mentors and ecosystem partners, it has reviewed more than 7,000 startup applications. With over 630 members, it has secured over Rs 2 crore from the Startup India Seed Fund, it said in a statement.