Indian Angel Network Invests Cloud Based Startup - Peel-Works
Indian Angel Network has made a R3.25Cr investment in Peel-Works, a cloud enabled sales force transformation and BPO firm.
The IAN investors in Peel-Works include active angel investors Harish Mehta, Srikant Sastri, Saurabh Srivastava, amongst many others.
The funds will be used to expand product offering, creating technology differentiators and human capital. Productized sales force consulting and transformation solution is planned to be hosted on the cloud and will be charged on pay per use basis.
Mumbai based Peel-works was founded by Sachin Chhabria. Peel-Works' technology solution organizes information, computes performance based ratings and incentives and uses analytics to do predictive modeling and generates recommendations around promotability, skill and competency.
The Indian Angel Network has over 180 members and has over 25 investments across multiple sectors like IT, Mobile and Education and has made several successful exits. In 2011 alone, IAN invested nearly US$10Mn in 10 start ups including Jigsee, Groffr, and Vayavya.
The 2011 saw three of IAN portfolio companies - Kwench Library Solutions, Druva and TaxSpanner -- being chosen among the hottest start ups of 2011 by BusinessWorld and Business Today magazines.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 27/01/12 | Peel-Works - Indian Angel Network | Venture Capital | Indian Angel Network | 0.65 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 17/02/12 | Private Equity | Updata Partners | July Systems and Technologies Private Limited | 15.00 | Completed |
| 16/02/12 | Venture Capital | Naya Venture | Global Outlook Private Limited | 2.00 | Announced |
| 15/02/12 | Private Equity | Norwest Venture Partners | Manthan Software Services Private Limited | 15.00 | Completed |
| 15/02/12 | Venture Capital | Rajan Anandan | ReachAccountant.com | - | Completed |
Fund |
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| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Indian Angel Network | Pharma Education Outsourcing Retail Telecom |
http://www.indianangelnetwork.com/ | Saurabh SrivastavaRaman RoyAlok MittalMohit GoyalPradeep GuptaPadmaja RuparelSweta AggarwalVivek Raghavan | |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Peel-Works Outsourcing Private Limited | Sachin Mahesh Chhabra | IT Unit No. A-303, Everest Nivara, Infotect Park, Plot No. D-3, CTC Industrial Area, MIDC, Turbhe, Navi Mumbai | www.peel-works.com | |
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