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Sateeq, an investing platform, has raised an undisclosed angel round from a clutch of founders and angel investors.
The investors include Himanshu Periwal (Founder, unlu), Sarthak Goel (Founder, Y-Combinator backed InVoid), Vaibhav Jalan (Smallcase), Nikunj Jain (Forbes 30-Under-30), Amitesh Sinha (Partner SIMA Funds) and Kunwar & Amit (Founder, UnFinance).
The platform was founded by 16-year-old Krishna Maggo, a 12th grader from Delhi in 2021, with an aim to democratise angel investing.
Sateeq allows start-ups to raise community funding based on Compulsorily Convertible Debentures.
“The 10-member start-up team is currently building tools for the founders to raise capital digitally and instantly from early-stage funds to venture capital rounds,” it said in an official release.
It also provides infrastructure support to angel syndicates, start-ups, and angel networks to run their private deals and raise funds from specific sets of investors. It is a self-serve platform, where a user can choose any deal from one of the live deals, do their diligence and put in the amount that they wish to invest.
In less than a month of its beta launch, Sateeq has on-boarded over 5,000 investors in its network and has over a dozen start-ups registered with the platform. These start-ups are already backed by investors such as Mumbai Angels, Ivy Capital, Shraddha Sharma, Vaibhav Vardhan, Kiran Mani, Deshpande Startups and Shark Tank India.
“Fundraising is not as easy as it seems. Many founders are unable to reach angel investors, who invest through traditional angel networks. Hence, I started Sateeq where any investor can invest in exciting start-ups along with marquee investors, with as low as ₹5000, in a safe, secure and informed manner,” Maggo said.
He further added that Sateeq is looking at raising a pre-seed round in Q3 this year.
Maggo’s larger vision is to build a ‘Super App’ where retail investors can participate in private investing such as startup equity, real estate, asset-backed tokens, and other asset classes.
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