Real Time Angel Fund (RTAF), an early-stage investor, announced the opening of its Rs 100 crore fund on Wednesday. Additionally, the sector-neutral firm made its first investment in MyMandi, a business-to-business (B2B) platform for carriage.
According to Pranay Mathur, partner and CEO of Real Time Angel Fund, in addition to cash access, the Sebi-registered fund offers networking assistance to companies with technical know-how and international commercial connections.
Over the next five years, the fund will invest in pre-seed to pre-series startups with a ticket size of Rs 1 crore per startup, according to Mathur, as per reported by VCCircle.
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“I believe it is the perfect time for angel investors to invest in seed stage startups having realistic valuation amid market situations and growth opportunities in India and global markets in scaling new business models,” said Amit Singal, general partner, Real Time Angel Fund.
MyMandi, a startup based in Gwalior, has secured a total of Rs 4 crore in its seed round, which was led by Real Time Angel Fund and included Let’s Venture and additional angel investors.
To support the community of cart-pushers, MyMandi will use the funding to strengthen its distribution network and technological capabilities.
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“By doing so we aggregate and support India’s largest last-mile delivery network that brings the market to doorstep targeting tier 2 and tier 3 cities. The cart-pusher market (GMV) is approximately $10 billion in tier 2 and tier 3 India and the total addressable market for MyMandi is close to $1 billion across 50 tier 2 cities, stated co-founders Rana and Scindia.
MyMandi, a B2B community founded at the beginning of the year by Suryansh Rana and Maha Aaryaman Scindia, intends to bring together the existing community of cart-pushers via an internet platform. The business will gradually offer more value-added fintech services, such as microlending.
About MyMandi
My Mandi is a B2B2C marketplace that aims to aggregate the existing cart-pusher community by providing a one-stop shop, an online platform and other value-added services (Fintech, EV and Microlending).
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About Real Time Angel Fund (RTAF)
Real Time Angel Fund (RTAF) is an early-stage investing platform whose mission is to collaborate with future change-makers in building great startups.
