HOME > BUSINESS > Bangalore tops start-up funding; Average valuation rises to 9 cr

Bangalore tops start-up funding; Average valuation rises to 9 cr

angel

Bangalore has overtaken Mumbai as the home to the biggest start-up investment scene, attracting about 30% of angel funding in India, said a report on ‘Angel Investing’ brought out by InnoVen Capital India and Association of Indian Angel Groups (AIAG).

India Angel Report 2015 also found that the median angel funding round grew to Rs 1.38 cr from Rs 52 lakhs, and median company valuation increased to Rs 9 cr from Rs 6.68 cr in the previous year.

It also revealed that Information Technology and online services accounted for 39% of the total angel funding that happened last financial year.

Angel funding refers to the very first round of funding that a start-up undergoes, and is done by wealthy individuals rather than firms.

The report — which covered more than 700 angel investors — also found that these investments increased 81% last year to touch 70.3 cr.

The report also found that there has been an increasing trend of Angel investments in companies with proven track record in terms of revenues. 76% of the companies funded in FY15 were generating revenues vis-à-vis 40% of companies funded in FY12.

The report has been prepared by InnoVen Capital India Private Limited (“InnoVen Capital”) in collaboration with the Association of Indian Angel Groups (“AIAG”) and is based on data provided by the participating angel groups to InnoVen Capital. The participating angel groups were Indian Angel Network, Mumbai Angels, Chennai Angels, Calcutta Angel and Hyderabad Angels.

InnoVen Capital India, an NBFC formerly known as SVB India Finance Private Limited, has made loan commitments of over Rs 700 crores across nearly 80 transactions to VC backed companies since starting operations in India in late-2008.

Read the full report here: InnoVen Capital India Angel Report 2015

Follow ULTRA.news
NPA crisis: We’re not out of the woods yet – SBI official A senior State Bank of India official warned against assuming that the bad loan malaise affecting the Indian banking sector has started declining.Praveen Kumar Gupta, MD in charge of retail and digital banking, said one cannot directly draw conclusions by extrapolating trend...
Exchanges seek clarification from Bharti Airtel on Aadhaar misuse charges Stock exchanges in India have sought a clarification from India's largest telecom company by revenue, Bharti Airtel, on a report that it was under investigation by a government agency for allegedly misusing customer data to open bank accounts in their names."(The) exchange ha...
Infosys launches inter-bank blockchain network Infosys said it launched Finacle Trade Connect, a network-based system of distributed record keeping for banks based on the block chain technology.A blockchain-based record is open to all participants and all participants have a copy of all the data. Moreover, all transactio...
Yes Bank raises Rs 2,600 cr from banks in Japan, Taiwan India's fifth largest private sector bank Yes Bank said it is raising $400 Mn -- about Rs 2,600 cr -- through two five-year syndicated loans from banks in Taiwan and Japan.It will raise $250 Mn from Taiwanese banks and 16.5 Bn Yen -- about $150 Mn -- from Japan."YES BANK ...
TeamLease buys 40% of education technology start-up Schoolguru TeamLease Services, one of India’s largest staffing companies, said it has agreed to acquire 40% of Schoolguru Eduserve Private Limited, an Online Learning company that works with 18 Universities.Established in 2012, Schoolguru provides services to Indian Universities to help...
IDBI Bank losses narrow, NII rises 18% QoQ IDBI Bank said Net Interest Income for September quarter improved by 3.63% compared to previous year and 18.19% compared to the June quarter.Net Interest Margin (NIM) stood at 2.17% for QE Sept 2017 showing improvement of 27 basis points as compared to QE Sept 2016 and 45 ba...
AU Small Finance Bank NII up 12% in Q2 AU Small Finance Bank reported net interest income of Rs. 220 crore in the second quarter ended September, up 12% on year.Total Income was Rs 508 crore, up 41% and PAT was Rs 68 crore for Q2FY18 as against Rs 62 crore in Q1FY18."Q2 was the first full quarter of operati...
SIDBI and AU SFB to jointly lend to small businesses AU Small Finance Bank and Small Industries Development Bank of India (SIDBI) entered into an agreement to jointly lend to small businesses.Both will earmark a corpus of Rs 100 crore for lending under the ‘AU SIDBI Joint Financing Programme’ for FY18.The program will targ...
Ramco wins multi-million managed services deal from British MNC Bank Cloud-based enterprise software provider Ramco Systems said it won a multi-million dollar order from a big British MNC financial group to provide managed payroll services.Ramco will help the company, part of the FTSE 100 index, to consolidate its payroll operations in 14 co...
MobiKwik creates wallet app for bank even as rivals focus on payments bank Wallet app provider MobiKwik announced a tie-up with IndusInd under which it has launched an app exclusively for the bank's 10 mln customers.The move is in line with the app company's strategy to be a partner and solutions provider to traditional financial services companies...
XL Catlin to buy 20% of Mahindra Insurance Brokers Mahindra Finance said global insurance major XL Group will take a 20% stake in its subsidiary Mahindra Insurance Brokers Ltd, including the 15% currently held by LeapFrog Financial Inclusion Fund."XL Group will help support MIBL’s endeavours to increase insurance awareness a...
India sees record-breaking Private Equity inflows in 2017 – Study The amount of money invested or committed by private equity firms in India reached an all time high in the first nine months of this year, said Venture Intelligence, a research firm tracking unlisted company financials, transactions and valuations.PE firms invested about $17...
Nucleus Software wins loan software order from Finova Capital NBFC Nucleus Software, which provides IT solutions for financial services companies, said its loan management solution has been selected by Finova Capital, a Jaipur-based Non-Banking Financial Company (NBFC) to digitise its lending business.Founded in 2015, Finova Capital offers ...
Piramal Enterprises enters the retail housing finance business Piramal Finance Limited (PFL) has entered the retail housing finance business.It is part of $1.3 bln Piramal Enterprises, one of India’s large diversified companies, with presence in pharmaceuticals, and financial services.The housing finance venture has been floated thro...
Worth Rs 70,000 cr, Patanjali’s Acharya Balkrishna named to India’s richest Acharya Balkrishna of Patanjali | WikipediaAcharya Balkrishna of Patanjali has emerged as the latest addition to the list of the top ten richest people in India, which is still headed by Mukesh Ambani, chairman of Reliance Industries.Haridwar-based Acharya Balkrishna, ag...
Bajaj Finance offers 8.1% interest on FD to seniors, 7.85% to others Bajaj Finance said it will offer 8.10% on fixed deposits to senior citizens, making it among the highest interest rates offered on fixed deposits in the country. For others, it will be 7.85% per year.The non-banking finance company claims to have the highest credit ranking ...
IndusInd Bank enters merger talks with SKS Microfinance Bharat Financial Inclusion, formerly known as SKS Microfinance, said it has entered into exclusive discussion with IndusInd Bank on a potential "strategic combination by way of amalgamation through a scheme of arrangement, or any other suitable structure."SKS Microfinance is...
Infosys included in Dow Jones Sustainability Index Infosys said it has been inducted into the Dow Jones Sustainability Indices (DJSI) and is now part of two of the indices -- DJSI World and DJSI Emerging Markets.The indices measure the economic, environmental and social performance of companies and are based on the companie...
Paypal to invest in and support five more Indian start-ups Online payment company PayPal has selected five startups – Finbox, Neoeyed, Paymatrix, Scalend and Tybo - for inclusion into its incubator program in Chennai.The program offers startups technology counsel and mentorship, infrastructure support and networking opportunities w...
Wipro announces details of its Rs 11,000 cr share buyback Wipro has announced details of its buy back of up to 343.8 mln shares or about 7.06% of its total equity base at a price of Rs 320 each for up to Rs 11,000 cr.The Buyback Size is 23.15% of the fully paid-up Equity Share capital and free reserves as per the audited standalone ...