Sector agnostic SEBI registered angel fund Real Time Angel Fund (RTAF) has marked its debut investment in MyMandi from its Rs 100 crore fund. RTAF invests in pre-seed to pre-series stage startups to provide capital and business support to the startup founders.
MyMandi, a Gwalior-based B2B marketplace for cart-pushers (thela-walas), has raised Rs 4 crore in its seed round led by Real Time Angel Fund. Let’s Venture and other angel investors have also participated.
The proceeds will be used for building technology and distribution strength in supporting the cart-pusher community. MyMandi provides a one-stop shop, an online platform, and later other value-added services (fintech, EV and microlending) in a phased manner.
More than 90 VCs, PE, and debt funds had announced their new fund launch as of July. However, this also saw a decline in the past couple of months. In August, Fundamentum, Stride Ventures, Merak Ventures and Cactus Ventures announced their new fund launch whereas September saw only a couple of fund launches including Elev8 Venture Partners and StartupXseed, according to Fintrackr’s data.