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March 27, 2012

ET Now's 'Super Angels' Grand Finale witnesses a Funding Bonanza for Start ups

ET NOW’s Super Angels, a special series on the ‘Starting Up’ show which provides a platform for start-ups to make pitches to Angel Investors, concluded its grand finale on the 24th of March at the Convention Centre, Bombay Stock Exchange.

The series spread over 6 months and 20 start-ups pitching to investors culminated in a grand finale with 5 start-ups pitching face-to-face to investors in front of 200 member strong audience. The finale witnessed as many as 3 start-ups out of the 5 finalists raise funding for their respective firms.

The 5 finalist start-ups that took to the stage included Live Inbox, Unbxd, Exotel, DroidCloud and They in turn made their pitches to, India’s most renowned Super Angels including Mahesh Murthy of Seedfund, Vishal Gondal of Indiagames, Sanjay Parthasarathy of Indix, Karthik Reddy of Blume Ventures and Vijay Shekhar Sharma of the One97 Mobility Fund.

The first of the 5 start-ups to raise capital and clearly the one, most hotly contested for by all the Super Angels was Exotel- a start-up which offers a PBX service on the cloud targeted at Small & Medium Enterprises. After a round of rampant bidding, Karthik Reddy of Blume Ventures finally sealed the deal investing Rs.2.5 Cr in the start-up for a 25% stake in the company.

Shivakumar Ganesan, the founder of Exotel thanked ET NOW for the Super Angels Initiative and remarked, “Not many startups are fortunate enough to get an opportunity to showcase themselves in such a forum. We recommend both the show and the Angel investor to other startups.”

Speaking on the occasion, Avinash Kaul, Chief Executive Officer, ET NOW & zoom said “ ET NOW is happy to be part of the start-up ecosystem by helping some of the most promising entities realize their entrepreneurial dreams. We have been overwhelmed by the superb success & response to Super Angels and look forward to a bigger scale in the next season”

Apart from Exotel, The other 2 start-ups that raised capital on the show were Droid Cloud and Pune based Droid Cloud raised Rs.50 lakhs, on the show, from entrepreneur and founder of One97, Vijay Shekhar Sharma while contract staffing platform raised Rs.50 lakhs from founder of Indiagames, Vishal Gondal.

Watch the grand finale of ‘Super Angels’ on 7th April @ 5pm and 8th April at 6 pm. Only on ET NOW.

Here's the Youtube Video of the episode