investing platform sateeq, sateeq fundraising, angel investors, community funding, hark tank india., himanshu periwal, sarthak goel
ETtech

Illustration: Rahul Awasthi

Mumbai: Sateeq, an investing platform said it has raised an undisclosed angel round from a clutch of founders and angel investors
Investors include Himanshu Periwal, founder, Unlu; Sarthak Goel, founder, Y-Combinator backed InVoid; Vaibhav Jalan, Smallcase; Nikunj Jain, Amitesh Sinha, partner SIMA Funds; Kunwar and Amit, founder, UnFinance.
The company which was founded by 16-year-old Krishna Maggo in 2021, said it aims to democratise angel investing, by making it accessible so that a maximum number of people can invest in startups.
“Fundraising is not as easy as it seems to be. Many founders are unable to reach angel investors, who invest through traditional angel networks and they make up a mere 0.01% of the total investor base in India. The rest 99.99% do not get any chance to invest in the burgeoning startup ecosystem and make returns from its success,” said Magoo adding that its larger vision is to build a “super app” where retail investors can participate in private investments such as startup equity, real estate, asset-backed tokens, and other asset classes.
The firm allows investors to invest as low as Rs 5000, compared to most angel networks where the minimum ticket size per startup varies between Rs 3-10 lakh.
Sateeq said startups can raise community funding based on compulsorily convertible debentures, which have been used by hundreds of startups in India to raise funds. In addition, it also provides infrastructure support to angel syndicates, startups, and angel networks to run their private deals and raise funds from specific sets of investors.
In less than a month of its beta launch, Sateeq has onboarded over 5,000 investors in its network and has over a dozen startups registered with the platform. These startups are already backed by investors such as Mumbai Angels, Ivy Capital, Shraddha Sharma, Vaibhav Vardhan, Kiran Mani, Deshpande Startups, and Shark Tank India.
“Our top competitor is Republic.com in the US, which is valued close to $1 billion and has helped more than 600 startups raise over $700 million from over 1 million users,” Krishna added.

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