Are you about raising funds for your startup in India and want to attract angels? If YES, here are 7 easy steps to find and approach angel investors in India.
One of the fastest ways to raise money for your startup, especially if your idea is a very brilliant one, is through angel investing.
Angel investors are usually wealthy people who understand the importance of having their money work for them so rather than set up multiple businesses of their own with their money where they’ll have to be involved in running it, they’ll rather find other viable business ideas to invest in, and cash out when the startup becomes profitable. This way, they can take a lot of stress and risk off themselves, and grow their wealth without the stress of running and managing the business themselves.
Some angel investors also do it for humanitarian purposes – they want to help the economy grow, so they invest in businesses that can potentially provide jobs and employment for other people. One thing you must know before approaching angel investors is that many of them are successful business executives themselves.
They are usually very smart and it takes a lot to impress them and get them to invest in your start-up especially since there are hundreds, if not thousands of other aspiring entrepreneurs just like you looking for angel investments.
This article will help you discover where to find angel investors to fund your business idea in India. You will also learn how to approach and significantly improve your chances of having them invest in your business. Here are a number of ways to locate and get the attention of angel investors in India.
7 Best Places to Find Angel Investors in India
1. Find Them Online: There are a lot of prominent angel investors in India and you can easily find them online especially on LinkedIn. These investors have funded a good number of startups in India and you can find them on LinkedIn, and send them a short pitch of your startup idea.
If you are able to come up with a brief yet powerful pitch that you can send to them on LinkedIn, you may be able to get an invitation from them to pitch your business idea officially.
Some of these popular Indian angel investors include:
- Sunil Kaira: Sunil Kaira has invested in a number of startups including Hashcube, CrayonData, CultureAlley, and Airwoot.
- Sharid Sharma: Sharid Sharma is known to invest in the Mobile and Saas and Consumer Internet Sectors. Some startups he has invested in include Mobile Walla, Frrole, Druva Software and Vayavya Labs amongst others.
- Raban Anandan: Raban Anandan also invests in the Mobile Saas and Internet sectors. He has invested in projects like InstantMojo, StepOut, Culture Alley, Targeting Mantra, Cappillary Technologies, MissMalini.com, Mobile Walla, and Socialblood.org.
- Krishman Ganesh: Krishman Ganesh is typically interested in the Consumer Internet, Education and Tech and Healthcare Sectors. He has invested in startups like Onlineprasad.com, Must See India, delyver.com, Overcart, Oximity, and HackerEarth.
- Meena Ganesh: Another prominent angel investor and one of the few known female angel investors in India is Meena Ganesh. Meena Ganesh has invested in Consumer internet, Healthcare and Saas startups like Oximity, Must See India, Overcart, and Silverpose.
- Ritesh Malik: Ritesh Malik has invested in a good number of technology and hardware startups like Asimov Robotics, Bisko Labs, Inc42, Sectorqube Technolabs, and RHIvision.
- Nikunj Jain: Nikunj Jain invests across different business sectors. He has invested startups like Inc42, Gingr, Workouttrends.com, and Piquor.
- Anupam Mittal: Another popular Indian angel investor is Anupam Mittal. He is interested in the Healthcare, Mobile and Saas, C lean Technology, and Consumer Internet Sector.He has invested in projects like Taxspanner, Interactive Avenues, Tushky, Olacabs, PrettySecrets, and Peelworks.
- Kunal Bahl: Kunal Bahl is another angel investor that you can pitch your idea to especially if your business is in the Ecommerce sector. Kunal Bahl has invested in projects like Olacabs, Tripoto, Bewakoof and Unicommerce.
- Sacchin Bansal: Sacchin Bansal invests in technology startups and is known to have invested in projects like SpoonJay, Ather, MadRat Games, NewinShorts, TouchTalent and Roposo.
All of these angel investors can be found easily on LinkedIn when you search with their full names.
2. Join Angel Investor Groups and Online Networks: Another effective way to quickly find angel investors for your startup in India is to join online platforms that are designed for angel investors and entrepreneurs to meet.
Some of the most reliable ones include:Indian Angel Network
- Investment Network
- Let’s Venture
- Your Nest
- Dr. Hempel Network
- Delhi Angels
- Sarthi Angels
- Hyderabad Angels
- Chandigarh Angels
- Lead Angels
- Seed Fund
- Clarion VP
You can register on any of these platforms to make it easier for you to get direct access to angel investors who are also actively looking for projects to invest in.
3. Hire a Professional Fundraiser: Another good option is to hire a professional business fundraiser. There are some professionals who act as middlemen between investors and entrepreneurs. When you contact them, they look into your business idea and if it meets their expectations, they help link you up with the right angel investor for your business. However, you may have to part with some money or offer some kind of reward for their services.
4. Register with a Business Incubator: Another good idea is to register with a business incubator. Business incubators can help you repackage your business idea so that you can better attract investors, and also link you up with potential angel investors for your business.
5. Attend Business Showcasing Events and Competitions: You can also find angel investors for your business by entering into business funding competitions and attending events and conferences where you can showcase your business idea.
4 Easy Tips for Approaching Angel Investors in India and Getting their Money
It doesn’t stop with finding angel investors. Even when you find potential angel investors for your startup idea, you must learn how to approach them and present your ideas to them so that you can get what you want. Here are a few tips to help you out.
a. Prepare Your Business Plan: Of course, you need a business plan. Your business plan must show potential investors what you are trying to achieve, the skills you have and most importantly, what they stand to benefit should they decide to invest in your business.
A business plan has different sections but the first section the investor is likely to see is the summary section or the overview of the business plan. This section summarizes the entire content of the business plan and you must understand that a lot of investors may never read beyond this portion especially when they don’t find it catchy.
You must take advantage of this portion and make it appealing to your investors. Avoid going around in circles and be quick to show them where the money is so that they’ll be encouraged to look deeply into the business plan.
b. Have a Product Prototype Ready: Many angel investors are more comfortable when they see a practical demonstration of your idea so it helps to have a prototype of your product made to show angel investors that your plans are achievable and not just wishful thinking. These days, it is easy to get a 3D prototype of your product idea made inexpensively, so this shouldn’t pose any challenge.
c. Have a Valuation: Another important thing is to have a valuation for your business before you start pitching your idea to investors. You must know how much your business is worth, how much you need, and how much equity you are willing to part with to get the funding you need for your business.
d. Prepare to Pitch Your Business Idea: Lastly, make sure you are adequately prepared to explain your business idea to angel investors. It helps to have a PowerPoint presentation pre-made so that you can use this anytime you need to make a business presentation.
You should also bear in mind that investors are not only interested in the business idea but also in the entrepreneurs. They want to ensure that they are putting their money in the hands of confident and smart entrepreneurs who have what it takes to succeed in business.