Mumbai Angels, along with a group of unnamed US-based angels, has invested around Rs.5 crore in Yoga Smoga, a yoga-inspired athletic apparel and accessories company founded by US-based Indian-origin entrepreneur Rishi Bali. This is the fifth international investment for the angel group.
Yoga Smoga was founded in 2010 as a designer and manufacturer of athletic clothing. It has developed a high technology fabric that is a mix of Supplex, a synthetic fabric that is stretchable and fast-drying, and Lycra. The company also claims to use nano technology to ensure moisture management, which makes their workout clothes dry quicker.
Founder Bali is a former Goldman Sachs employee, who had earlier started an early-stage venture fund Bali Investors Group.
Source: Economic Times
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