Sateeq, an investing platform has raised an undisclosed amount in funding round from a group of founders and investors including Himanshu Periwal (founder of Unlu), Sarthak Goel (founder, Y-Combinator backed InVoid), Vaibhav Jalan (Smallcase), Nikunj Jain, Amitesh Sinha (partner SIMA Funds), Kunwar and Amit (founder of UnFinance).
Gurgaon-based Sateeq was founded in 2021 by 16-year-old Krishna Maggo, This is India’s first online platform where users can start investing in startups with just Rs 5000.
Krishna said the objective is to make angel investing accessible so that more and more people can invest in startups.
“Fundraising is not as easy as it seems to be. Many founders are unable to reach angel investors, who invest through traditional angel networks and they make up a mere 0.01% of the total investor base in India. The rest 99.99% do not get any chance to invest in the burgeoning startup ecosystem and make returns from its success. its larger vision is to build a “super app” where retail investors can participate in private investments such as startup equity, real estate, asset-backed tokens, and other asset classes”, said, Krishna Maggo.
“Our top competitor is Republic.com in the US, which is valued close to $1 billion and has helped more than 600 startups raise over $700 million from over 1 million users”, he added.
The company said startups can raise community funding on compulsorily convertible debenture basis, which has been used by hundreds of startups in India to raise funds. In addition, it also provides infrastructure support to angel syndicates, startups and angel networks to conduct their private deals and raise funds from an elite set of investors.
Just a few days after its beta launch, Sateeq has added over 5,000 investors to its network and over a dozen, startups have registered with the platform.
These registered startups are already backed by investors like Mumbai Angels, Ivy Capital, Shraddha Sharma, Vaibhav Vardhan, Kiran Mani, Deshpande Startups, and Shark Tank India. The platform is looking to raise a pre-seed round in the third quarter of this year.
About Sateeq
Within a few minutes, Users can start investing in companies that are changing the world. They don’t need to be an accredited investor, and They can start investing with as little as 5,000. Just sign up with Sateeq.
