Start-up investment scenario appears to be warming up after efforts by angel investors over couple of years. Budding outfits -- from juice serving retail chain to e-commerce to mobile app developers -- are slowly queuing up for ‘angels’.  

Calcutta Angels, co-founded by five city-based early stage investors in 2013, has grown into a 50-member network. However, it could find one start-up from the city, out of nine opportunities tapped two years ago.

Now more and more investors are getting active too. Padmaja Ruparel, President of India Angel Network (IAN) said now the start up investment was actually “starting up” in Kolkata.

New investments After investing Rs 10 crore in a Kolkata-spawned quick service restaurant chain early this month, IAN is looking to invest Rs 2-3 crore each in two more budding Kolkata outfits. Today, the intending investors do not outnumber investment seekers.

“We are looking to invest in couple of healthcare companies both online and offline next month,” said Ruparel on the sidelines of a daylong gathering of investors and start-ups here on Wednesday. She said IAN was talking to several Kolkata start-ups for potential investment opportunities.

Cricketer Umesh Yadav is reportedly investing in a Kolkata-based fashion boutique website and app firm. Raghav Kanoria, cofounder of Calcutta Angels said five city-based start-ups have participated in the event seeking incubation investment. Kanoria said a Kolkata-originated outdoor advertising start-up could be the second investment (between Rs 50 lakh and Rs 1 crore) target for Calcutta Angels.

 

Bridge round iKure Techsoft Pvt Ltd from the city, which got first funding through Calcutta Angels, has now graduated to the level of “bridge round”. This round entails higher investment and exit of early stage investors.

Sujoy Santra, founder and CEO of iKure, told Business Line that his company was looking for bridge round investment of Rs 3 crore from venture capitalists. “We have so far got investments worth Rs 2.5 crore from angel investors and State arm Webel,” he said.

It has established 28 health clinics in rural Bengal covering 160 villages. The clinics are linked to seven partner hospitals including AIIMs and Nanavati. “Now we were planning to expand into eight other States. Our immediate entry would be in Jharkhand’s Torpa near Ranchi in partnership with Tata Trust run NGO Pradan” he added. 

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