Economy

Calcutta Angels looks to fund 10 start-ups

Our Bureau Kolkata | Updated on January 16, 2018

Plans to invest mostly in ventures based in the city

Calcutta Angels Network (CAN), a platform for entrepreneurs and investors, will look to fund around 10 start-ups, mostly from Kolkata.

The three-year-old platform has till date funded two Kolkata-based enterprises. iKure Techsoft was the first start-up from the city to have got funds.

The angel network on Tuesday announced picking up a 10 per cent equity stake in Zeroinfy for an undisclosed amount. Owned by Abhishek Bajaj, Aditya Bajaj and Rohit Bajaj, the company (Zeroinfy) is into online courses and preparing students for competitive exams.

Other investments

“There are some more investments in Kolkata-based start-ups that will be announced later,” said Siddharth Pansari, President of CAN.

So far, Calcutta Angels has invested close to ₹8 crore across some nine-odd start-ups. The investments are in the range of ₹65-70 lakh.

Annual event

According to Pansari, Calcutta Angels will also organise an annual event ‘Start-Up East 2016’. The event will be organised on September 22 and look to create networking opportunities for start-ups.

‘Start-Up East 2016’ will see nearly 150 investors engaging with start-ups. Nearly 10 start-ups, from a pool of 40, will be selected for showcasing their offerings.

“The event seeks to put all stake-holders together on the same platform to further strengthen and boost the start-up ecosystem in eastern India,” he added.

Published on September 13, 2016

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