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Indian Angel Network Invests In UK Start-up SwiftShift

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The Indian Angel Network (IAN) has made its first investment in UK based software start-up Swiftshift. Financial details about the funding were not disclosed.

Saurabh Srivastava, co-founder of IAN, said, “UK is amongst the world’s top 10 ecosystems for startups and home to some of the finest R&D in the world. Our debut in the UK will allow IAN to invest in world class, innovative startups and help them scale globally by leveraging IAN’s domain expertise and worldwide networks.” 

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IAN is Asia’s largest angel network of over 250 investors spread across 10 countries. Apart from financial investments in start-ups and early stage ventures, IAN provides strategic mentoring, guidance execution for nurturing start-ups across geographies including India, Sri Lanka, UK, US, Canada, France and Hong Kong.

SwiftShift has developed a SAAS based solution that allows companies to quickly fill short notice shifts using their own staff through short messaging service (SMS), email, and mobile technology.  Founded by Dan Sandhu in 2012,the company creates a regional employee bank allowing workers to accept shifts across multiple locations.

Indian firms are now the fifth-largest investors in the UK and more than 50 per cent of Indian investment into Europe goes to the UK, the high commission statement said. IAN has a portfolio of 100-plus companies across multiple sectors like IT, mobile, healthcare and education, gaming, hospitality, semiconductor, and social media.

Last year, IAN had announced that it will invest  Rs. 2 Crores in 6 companies per year, who focus their efforts at the grass-root level.  The network which operates in metros like Mumbai, Delhi, Hyderabad, Bangalore and Pune, expanded to eastern India by opening office in Kolkata.

Source: The Economic Times

 

 

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