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India's start-up fever is no more exclusive to big cities, as smaller cities and towns across the country are now breeding entrepreneurs. To aid them, <keyword id="3513449" type="UNKNOWN" weightage="100" keywordseo="regional-angel-investors">regional angel investors</keyword> are also showing up in these places so that they can find and fund these new ventures. 
 <keyword id="3105940" type="UNKNOWN" weightage="100" keywordseo="Chandigarh-Angel-Network">Chandigarh Angel Network</keyword>, Indore’s Swan Angel Network, and Madurai’s Native Angel Network are a few examples of the fresh regional angel groups to have started operations in the last one year. 
 
"There are multiple informal groups in Chandigarh to mentor startups, but in order to raise money, startups had to go to metros," Vineet Khurana, VP, operations, at Chandigarh Angel Network told <a href="http://economictimes.indiatimes.com/small-biz/money/angel-investors-cropping-up-in-small-cities-to-fund-their-new-entrepreneurs/articleshow/53389063.cms">ET</a>. 
 "Also, there are ample <keyword id="6365770" type="UNKNOWN" weightage="100" keywordseo="angel-investors">angel investors</keyword> in the city but they were not essentially part of a formal network, hence education about the nitty-gritties of angel investing was missing," he added. 
 
This new group of investors include non-resident Indians and high net-worth individuals, who want to tap into these regional angel groups based in tier-II cities for memberships. Swan Angel Network, based in Indore that houses around 60 start-ups, has grown to more than 38 members in the last six months, out of which a majority belongs to professionals and people running family businesses. 
 
<a href="https://inc42.com/wp-content/uploads/2016/02/angel-investor.jpg">Image source</a>

Angel investors are now looking at small cities to ‘find and fund’ new entrepreneurs

<ul><li>The company said it is currently looking for investor partners from Jodhpur, Gwalior, Patna, Jamshedpur, Amritsar, Chandigarh, Ludhiana, Agra, Allahabad, and other cities.</li><li><keyword id="3189966" type="PERSON" weightage="20" keywordseo="Venture-Catalysts">Venture Catalysts</keyword> recently saw OYO founder Ritesh Agarwal join as an investor.</li><li>Venture Catalysts has a ticket size of $250K – $1.5 million and bets on early-stage startups.</li></ul>Venture Catalysts, an Indian investment firm, and incubator has announced its presence in 11 new Indian cities – Bangalore (Venture Partner), Bhopal, Bhubaneswar and Cuttack, Bilaspur, Chennai, Indore, Jaipur, Navi Mumbai, Visakhapatnam, Pune, and Goa. The firm, which recently saw OYO founder Ritesh Agarwal joining as an investor, is setting its sights on India’s smaller cities for investment opportunities. On joining the firm, Agarwal had said that India’s next big startup idea will come from a Tier III or IV city. And for the same, it is also actively looking to bring on board angel investors from India’s smaller cities. The company said it is currently looking for investor partners from Jodhpur, Gwalior, Patna, Jamshedpur, Amritsar, Chandigarh, Ludhiana, Agra, Allahabad, and other cities. “The mission is to expand to 100 cities in India by 2021, and we are very optimistic about the startup landscape in India in the times to come. As part of this geographical expansion strategy, we launched our network in many more Indian cities during the past two months of lockdown, and this has been met with an overwhelming response. We received 3000+ registrations for our virtual launch in 11 cities, which indicates the growing cognizance of Venture Catalysts. We also plan to expand our presence into 15 more cities in the coming months,” said Dr. Apoorva Ranjan Sharma, President, and Co-founder, Venture Catalysts. The firm brings on board High-Networth-Individuals who are willing to bet on startups. Over the years, Venture Catalysts has grown from having 400 investors in 2016 to a network of over 1,100 now. And they plan to increase it to 10,000 by 2025. Venture Catalysts has a ticket size of $250K – $1.5 million and bets on early-stage startups. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/indias-unicorn-backers-are-shoring-up-their-funds-as-they-hunt-for-the-next-big-startup/articleshow/77672542.cms">India’s unicorn backers are shoring up their funds as they hunt for the next big startup</a> <a href="https://www.businessinsider.in/business/startups/news/the-uk-government-will-give-the-best-indian-ideas-3-million-to-fight-covid-19-and-climate-change/articleshow/77590137.cms">The UK government will give the best Indian ideas £3 million to fight COVID-19 and climate change</a>

This Indian investment firm wants to bring on board angel investors from India's smaller cities

<keyword id="16492024" type="General" weightage="100" keywordseo="Homegrown-EV-charging" source="Orion">Homegrown EV charging</keyword> and <keyword id="16492025" type="General" weightage="20" keywordseo="mobility-solutions-company" source="Orion">mobility solutions company</keyword> <keyword id="14455900" type="General" weightage="20" keywordseo="Magenta-Mobility" source="Orion">Magenta Mobility</keyword> has raised $40 million in its Series B <keyword id="12999336" type="General" weightage="40" keywordseo="funding" source="ETB2B" meta.aliasname="funding" meta.entityname="funding" meta.entityid="7040">funding</keyword> in a mix of equity and debt, the media reported. Backed by <keyword id="16492026" type="General" weightage="20" keywordseo="Microsofts-global-startup" source="Orion">Microsoft's global startup</keyword> programme, the company closed $20 million in equity funding led by two global marquee investors, reports DealStreetAsia. The company raised $20 million in debt in the same round. Magenta is aiming to expand its geographical presence in cities including Hyderabad, Chennai, Delhi and Chandigarh. The company has a fleet of 600 3-wheelers and 4-wheelers across the country and expects to have over 4,000 in fiscal 2023-24, the report said. Last year, the Mumbai-based charging solutions provider announced its collaboration with Amazon <keyword id="13362851" type="General" weightage="40" keywordseo="india" source="ETB2B" meta.aliasname="india" meta.entityname="india" meta.entityid="7017">India</keyword>. Through this partnership, Magenta Mobility works with Amazon India to induct a fleet of <keyword id="12991107" type="General" weightage="40" keywordseo="electric-vehicles" source="ETB2B" meta.aliasname="electric vehicles" meta.entityname="electric vehicles" meta.entityid="7048">electric vehicles</keyword> including two and four-wheeler electric vehicles for its delivery partners in Hyderabad. Magenta Mobility's current list of customers includes all the major e-commerce businesses such as Amazon, Flipkart, Bigbasket, Porter and Udaan. It has a relationship with the electric-vehicle manufacturers such as Tata Motors, Mahindra Electric, Omega Seiki and Euler Motors. Magenta is a Series A funded company backed by HPCL and investors such as JITO Angel Network, LetsVenture, and Indian-American philanthropist, Dr Kiran Patel. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/renault-nissan-commits-5300-cr-to-tn-to-introduce-6-new-models-including-evs/articleshow/97867394.cms">Renault-Nissan commits ₹5,300 cr to TN; to introduce 6 new models including EVs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/reliance-seeks-12-75-for-cbm-gas-ongc-wants-9-35/articleshow/97867864.cms">Reliance seeks $12.75 for CBM gas, ONGC wants $9.35</a>

EV startup Magenta Mobility raises $40 million in equity and debt

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(Image: India Times) 
 Whether you are a foodie or not, the indomitable aroma of a plate of hot <keyword id="41887" type="UNKNOWN" weightage="20" keywordseo="biryani">biryani</keyword> is sure to make you drool. Quite popular among Indians and its diaspora, Biryani has earned the luxury of being a royal food. A simple hotch potch of rice, vegetables and meat with some authentic Indian spices has made biryani a love affair for gastronomers. 
 
Given the sheer richness and diversity of Indian cuisine thanks to the bountiful cultural heritage, almost every region has its own version of the biryani. The biryani of Hyderabad, Kolkata, Kashmir, Lucknow, and Kerala are the prominent delicacies in the country. 
 And To offer home cooked style fresh biryani to customers across India and worldwide, an Indian start up has just come up with variety of aromatic and flavorsome meal, with right combination of Carbohydrates(Rice) &amp; proteins(Meat/vegetables). <keyword id="4405228" type="UNKNOWN" weightage="20" keywordseo="Biryani-By-Kilo">Biryani By Kilo</keyword> (BBK) has already taken the <keyword id="674224" type="COMPANY" weightage="20" keywordseo="Delhi-NCR">Delhi NCR</keyword> foodies’ market by storm. 
 
So why is BBK so unique while there are so many restaurants serving the same? 
In an exclusive interview with Business Insider, Kaushik Roy, the founder of BBK claims, the uniqueness lies in the fact that Biryani is made fresh only after the customer order is placed, and delivered in the same handi that it is prepared. 
 Along with co-founder Vishal Jindal, who is a diehard foodie with vast entrepreneurial/PE and scaling up expertise, across different businesses and geographies- the founder duo want to make Biryani By Kilo a pan Indian &amp; worldwide brand. 
Innovation 
However one just can’t stop asking what actually made the duo kickstart a venture, the market of which is quite saturated. 
 
Standardized Process and Systems, best Kitchen Technologies and ERP, going back to traditional and lost recipes of Biryanis/Kebabs/Kormas, New Packing and Delivery methods to ensure freshness are the major innovations BBK has already done in the segment. 
 

	<div type="image" msid="58128734" hostid="261"></div>

 
Here's how BBK delivers 
 
Funding 
BBK received funds from investors, including Chandigarh Angels Network, ex-Evalueserve Chief operating officer Ashish Gupta, GlobalLogic's Sunil Singh, highly successful US IT entrepreneur Alok Bhatia, and some senior executives from leading Financial &amp; Legal Firms. Rohit Chand and his son Ashish Chand also participated in BBK investment round, through their family fund Yukti Securities, which makes angel investments in the food and IT sectors. 
 
Revenue model 
BBK is currently generating an annual sales run rate of around Rs 7-10 cr. And targeting annual sales run rate of Rs 15-20cr by Mar 2018. BBK has currently 4 delivery outlets in NCR (Gurgaon, Dwarka, Noida, South Delhi- Shahpurjat). BBK plans to launch in other major cities like Pune &amp; Bangalore after Mar 2018.

A well funded start up is nowdelivering freshly cooked biryani at your doorstep. Have you tried it yet?

Across major Indian cities a silent revolution is brewing among taxi drivers who are gaining from the advent of a new breed of startups that are transforming the industry. 
 
Monthly income of several taxi drivers have at least tripled and a few with leadership skills have become entrepreneurs themselves, by managing scores of other drivers. 
 
The startups, which use technology to manage this network of drivers and link them to customers, earn a 2-5 per cent commission from the driver on every trip. Companies like Olacabs, TaxiForSure, Meru and Uber are making a dent in India's taxi-rentals market estimated at about $ 6 billion. 
 
In the process, they are changing the lives of thousands of drivers. ET takes a close look at five people who have benefited enormously from this rising trend. 
 
Khamer Gulzar B.Com first year dropout MERU CABS INCOME BEFORE: NIL 
 After having worked in Dubai as a sales executive for about 15 years, Khamer Gulzar returned to India in 2003 with some <keyword id="25450" type="UNKNOWN" weightage="20" keywordseo="savings">savings</keyword> to start a restaurant. It failed. He started a used car business with the leftover savings. 
 
Two failed ventures landed Gulzar in deep debt of Rs 15 lakh. That's when he decided to join Meru Cabs as a driver in 2009. Within four years, Gulzar has become debt free. He earns about Rs 40,000 per month, of which he saves nearly Rs 10,000. 
 
"My next goal is to buy my own house and ensure my kids have the best education," said Gulzar, a father to two school-going children. "My daughter wants to be a doctor and I can support her dream with this job," said Gulzar, who owns a Mahindra Logan cab. 
 
Bharathi Veerath School dropout UBER INCOME BEFORE: Rs 14,000 
 
Bharathi Veerath migrated from Warangal in 2005 to Bangalore with her mother and brother in search of a livelihood. A school dropout, she took to odd jobs of tailoring and working in travel agencies, before taking to driving taxis with an all women operated Angel Cabs last year. 
 Veerath was the first woman licenced <keyword id="51966" type="POSITION" weightage="20" keywordseo="Taxi-driver">taxi driver</keyword> in India. She earned Rs 15,000 per month till October as a driver with Angel Cabs, when she heard of India entry of USbased taxi hailing application Uber. She decided to risk and join Uber. Veerath bought a <keyword id="67915" type="ORGANIZATION" weightage="20" keywordseo="Ford-Fiesta">Ford Fiesta</keyword>, loaned by Canara Bank on an <keyword id="6357050" type="COMPANY" weightage="20" keywordseo="EMI">EMI</keyword> of Rs 17,000 per month. Within five months, her income increased to Rs 45,000 per month, from her own car which she drives for Uber and other taxi fleet operators. 
 "Owning my car has given me freedom to work upon my will," said Veerath, who loves to drive for almost 12 hours a day. When not in a mood to take work, she simply switches off her <keyword id="6354606" type="COMPANY" weightage="20" keywordseo="iPhone">iPhone</keyword> which has the Uber app loaded on it. 
 
GG Balaji SSC dropout SAVAARI INCOME BEFORE: Rs 10,000 
 
While taking a few tourists around Coorg last year, Bangalore-based <keyword id="6371561" type="POSITION" weightage="20" keywordseo="Cab-driver">cab driver</keyword> GG Balaji's father suffered a cardiac problem. He left the cab in Coorg and returned to Bangalore to mortgage family gold to have a bypass surgery done for his father. None of the local taxi operators came to his rescue. 
 
That's when Balaji decided to attach himself to Savaari Car Rentals, an Intel Capital-funded taxi rentals startup, as a full time driver. His monthly income has grown from Rs 10,000 per month to Rs 35,000 within six months. Over and above that, Balaji gets a diesel allowance of about Rs 20,000 per month. 
 
"It's a nice feeling to know that a fixed salary will get credited every month," said Balaji, who had earlier served in Indian Army's Corp of Artillery Air Defence till 1996 on the borders. Balaji's next goal is to buy a plot of land. "I am also buying a Tata Manza this Diwali and attaching a relative of mine who will pay me a monthly commission on it," said Balaji. 
 
Reshma Banu 12th Standard Pass OLACABS INCOME BEFORE: NIL 
 
 
Bangalore-based Reshma Banu, a housewife, morphed into a mini entrepreneur in 2006 when she started her car rental business in 2006, egged on by her husband. She bought a Tata Indica with a bank loan. With the emergence of taxi startups in Bangalore, last year, her business took off. 
 Banu signed up with Olacabs as an operator last year. Her business has now grown to a fl eet of 16 cars, which includes Innovas, Fiestas and Micras. "I bought five <keyword id="46283" type="CITY" weightage="20" keywordseo="Nissan">Nissan</keyword> Micra cars for use in Olacabs last month at a discount of Rs 1 lakh per car offered by the company," she said. 
 
"The drive to be an independent woman keeps me motivated," said Banu. Banu has also tied up with seven more aggregators and earns a net profit of about Rs 1 lakh a month, from Olacabs alone. "My next goal is to buy five more cars, this year," she added. 
 
Rajesh Kumar 7th Standard Pass TAXIFORSURE INCOME BEFORE: Rs 15,000 
 
Delhi-based Rajesh Kumar used to be a bus driver earning Rs 15,000 per month before he attached himself with TaxiForSure in January, last year. 
 
On a visit to Delhi, TaxiForSure chief executive Aprameya Radhakrishnan, asked Kumar, the name of a company, if he ever owned one. Kumar came out with the name 'Shabnam Cabs'. 
 
In March 2013, Shabnam Cabs was up and running in Delhi as a local taxi operator. The 43-year-old now has over 100 cab drivers under him, and earns a commission of 2 per cent per trip from each of them in addition to Rs 1,000 as monthly commission per driver. 
 
His monthly gross income has increased 10-fold to Rs 1.2 lakh, out of which he gets a profit Rs 60,000. Father of two grown up kids, Kumar plans to have his son involved in the business, after he graduates from Delhi University. 
 
"My next goal is to expand my business to Chandigarh and Jaipur," said Kumar, who was recently flown to Hyderabad by TaxiForSure to coach newly attached drivers.

You Searched For "Chandigarh Angel Network" and got 5 results

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