Mumbai, May 2023: India’s most prominent early-stage angel networks FAAD announces the launch of its second regional chapter in Mumbai. The launch comes after the successful establishment of a chapter in Kolkata. Over 50 investors attended the event held in Mumbai; ESportsXO, Redesyn, and Siloho were some of the key startups among other startups which pitched at the event.
The launch of the Mumbai chapter is expected to contribute to the growth of the angel investing ecosystem in India, creating more opportunities for early-stage companies to secure funding. FAAD Network has already funded several successful startups, including those operating in the Deep-tech, B2B SaaS, HealthTech sectors.
Dr. Dinesh Singh, Co-Founder and Director of FAAD Network, said, “The launch of the Mumbai chapter is a significant milestone for FAAD Network as we expand our presence in India’s start-up ecosystem. Our aim is to collaborate with talented entrepreneurs and investors in Mumbai and provide support for building successful startups.”
He further added, “We’re dedicated to creating a conducive environment for early-stage start-ups in this region, and we believe that FAAD’s expertise and network will be invaluable in achieving this goal. We’re excited about launching our third chapter in Mumbai and promoting innovation and entrepreneurship in India.”
“By expanding its network in Mumbai, FAAD Network is enabling the growth of a new generation of startups in India. I am thrilled to be a part of the FAAD Network and am looking forward to building a vibrant startup ecosystem in Mumbai,’ said Kavi Sahani, FAAD Regional Partner. ‘We foresee that this expansion will provide early-stage startups in Mumbai with the resources and support they need to succeed.”
FAAD Network’s commitment to supporting early-stage technology companies in India has the potential to create a more sustainable and resilient future for the country, while also contributing to economic growth and job creation. Recently FAAD has received approval of Securities and Exchange Board of India (SEBI) for a category 1 INR 300 crore Alternative Investment Fund (AIF).
FAAD is an investor network which invests in early stage startups across various sectors & geographies. With 1600+ Angels, HNIs and VCs, FAAD has invested in over 60+ startups, with follow on rounds in more than 50% of its portfolio companies. FAAD enjoys a network of investors based in India, Singapore, Dubai, the US, the UK and Canada. The network supports early-stage technology companies.