Madurai-based Native Angels Network (NAN) has inked two big deals and is in the process of investing in another firm by the end of this month.
Earlier this month, Happy Hens Farm, a poultry startup, which has a free range farm, raised ₹1.1 crore from NAN. Free range hens are allowed large open spaces to roam freely and express their natural behaviour, a pen for night shelter and nests to lay eggs in privacy. In 2015, this startup raised its first round of funding, ₹50 lakh from NAN.
Last week, Coimbatore-based agri startup Laymen Agro Ventures, raised ₹1.15 crore in an angel funding round led by NAN. The rounds also saw participation by Upaya Social Ventures and Sangam Ventures.
Sivarajah R, Founder and CEO of Native Angels Network, said, “In the next few months we will be funding over ten startups through our network.”
Since its inception, NAN has provided seed funding and angel funding to over ten startups. It made its first investment in 2015 in a firm that designs and creates rainwater harvesting systems. By the end of this month, NAN will be sealing a deal with Timana Farms, an agri tech startup. “We are looking at a funding of ₹40 lakh,” Mr.Sivarajah said.
Native Connect project
The network is working on a project called Native Connect in Chennai.
“There are so many people who have migrated to Chennai and want to give back to their native towns. The plan is to connect such people with startups – they can provide funding or even mentoring,” Mr Sivarajah noted.
Native Angels Network is an initiative launched by a group of Madurai entrepreneurs to support startups in small cities and towns. Promoted by Nativelead Foundation, it has over 242 angels who have evinced interest in investing in the startup ecosystem in Tamil Nadu.
