Tushit Pandey
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Editor's Note:- The startup landscape in India is rapidly changing. Angel investors are now more than simply early supporters; they also legitimate industries, set trends, and frequently predict what will be important in the future. These seven of today's most active angels share their backgrounds, investment strategies, motivations, and advice for businesses looking to reach them.
India's angel ecosystem has become more crowded and competitive over the last ten years, from a small number of well-known startup supporters. Today's founders are actively looking for angel investors in India who can open doors, provide real-world playbooks, and support them at their most vulnerable phases rather than merely pitching to venture capitalists.
It's interesting to note that the majority of the most active angel investors in the nation are not conventional financiers. They are entrepreneurs—founders who have established, grown, and frequently made mistakes with their own businesses. Their investing style is influenced by this experience; they are aware of the problems, understand how quickly things can go wrong, and are more interested in founder grit and unpolished execution than in fancy decks.
This change is reflected in the seven names on this list. They originate from marketplaces, consumer brands, healthcare, and finance. Although they write many modest checks, their impact is more profound because when they support a business, it frequently sends a message to the ecosystem that it is worthwhile.
CRED and its predecessor, FreeCharge, which was acquired by Snapdeal in 2015, were both founded by Kunal Shah. He became one of India's most active angel investors after FreeCharge's demise, focusing primarily on angel investing. He still leads in deals, having backed more than 266 businesses in 2024.
He also backed Plum , an employee health insurance startup, investing ~$20 million in one of its rounds, and Qoohoo, a creator-monetisation community app.
Shah supports founders who have the perseverance to see through rocky beginnings and a keen understanding of the issue they are trying to solve. Big industries like banking, consumer internet, and SaaS appeal to him, but speed and execution are what really influence him; he prefers hustle and traction to a well-crafted pitch deck. He views investment as a way to give back to the ecosystem in addition to generating profits. He therefore doesn't think twice about joining tiny rounds, occasionally committing during a brief WhatsApp conversation if he has faith in the founder's motivation.
Recent metrics/scale
After founding Shaadi.com, Anupam Mittal went on to become an angel investor. He is also well-known for appearing on Shark Tank India, which provides him access to early-stage firms and visibility. He is one of the top angels in terms of effect and deal count, having invested for over ten years.
Real traction is important to Mittal; he wants evidence that people are utilizing the product, not just claims made on a slide. He questions entrepreneurs about how the company will turn a profit and whether the concept can grow, and he favors those who have persevered through setbacks and changes. Although he typically works in the consumer and fintech industries, he has maintained an open mind toward other industries, particularly when he encounters entrepreneurs who are tenacious and clear-headed.
Rohit Bansal and Kunal Bahl, co-founders of Snapdeal , are very active angel investors. They make investments in early-stage firms through their investment vehicle, Titan Capital. According to the number of deals, Bahl and Bansal are two of the best angels.
Using their personal experiences at Snapdeal and the knowledge they have gained from managing a sophisticated platform, Bahl and Bansal support founders who have conviction and the will to grow. They frequently gravitate toward industries where operations and scalability are crucial, such as D2C, fintech, marketplaces, and logistics. Their strategy is characterized by a keen understanding of unit economics; they seek to determine whether the company will survive large-scale testing of operations, margins, and delivery costs.
Ramakant Sharma is an angel investor and co-founder of Livspace , a home-interiors firm. He likes to invest with a solid understanding of the fundamental problems that startups encounter because he has developed operational experience (product, supply chain, design etc.). He is included among the top angel dealmakers in several surveys.
As a reflection of his own design-heavy journey with Livspace, Sharma pays special attention to the product and user experience. He supports entrepreneurs who have a clear vision and a thorough understanding of their business processes, including supply chain management, logistics, and the actual cost of delivery. He views traction as the true indication of potential and values it more than a great idea. He looks for evidence that people are using the product and returning.
boAt, a well-known brand in wearables and consumer audio, was founded by Aman Gupta. He increased his involvement as an angel investor as his company grew. According to a number of sources, he is one of the top five angels in terms of deals.
He invested in about 34 startups in 2022, putting him second only to Kunal Shah that year in deal count among individual angels.
Some of his angel investments include consumer brands and tech startups (specific names in media, though not always disclosed in each round).
Gupta follows his own strategy from boAt and favors businesses that are scalable in India's enormous consumer market. He seeks out goods that appeal to young consumers, whether they are accessories, lifestyle, or audio devices, and that can meet current market needs. Knowing that marketing power, brand image, and cost control are the levers that make or destroy a consumer business, he closely monitors these factors behind the scenes.
In addition to being the Executive Director of Emcure Pharmaceuticals, Namita Thapar is well-known for serving as a Shark Tank India judge. She makes personal investments as an angel, both inside and outside of the show. She is well-respected for her discipline and expertise in the pharmaceutical and healthcare industries.
Thapar prefers businesses with distinct products in the regulated and healthcare industries, where her experience in pharmaceuticals gives her a competitive advantage. She seeks out founders with practical strategies for managing compliance and regulation, as well as those who are honest and grounded. Along with a company plan that can endure past the hype cycle, traction—proof that consumers actually desire the product or service—is important.
The founder and CEO of Lenskart is Peyush Bansal. He judges Shark Tank India as well. In addition to managing his business, he has been more active as an angel in recent years.
Startups with high brand potential, or businesses that combine strong visual identity and design with an engaging user experience, are what Bansal is interested in. He supports entrepreneurs who have a large-scale perspective, particularly in retail and direct-to-consumer, and he keeps an eye on traction in underserved markets and smaller cities. He seeks founders who can work independently but are receptive to mentoring and coaching when necessary because he splits his time between managing Lenskart.
The most active angels in India are notable for their regularity in playing early games. Although they frequently give small or mid-sized checks to dozens of seed and pre-Series firms each year, the volume increases their impact throughout the ecosystem. They tend to concentrate on the same high-potential areas, such as fintech, consumer internet, marketplaces, and direct-to-consumer brands, where, with proper execution, growth can occur quickly. They invest more on entrepreneurs who can move fast, adjust, and manage tight operations with discipline around supply chains and margins than they do on the concept itself. And when a company is just a prototype and a committed staff, they frequently become the first believers because they feel comfortable taking chances before a product is completely developed or extensively used.
Keep in mind that investors expect facts, not simply a dream, if you're a startup looking for angel funding in India. Instead of relying just on vision, demonstrate early traction with consumers or recurring clients. Make sure the backgrounds of your team represent domain competence and flexibility, and be specific and convincing when describing your market size and revenue trajectory. Angel investors will examine your margins, operating leverage, and unit economics, so be prepared with reliable figures. Know your audience. Aman Gupta will naturally connect with consumer-facing brands and scale stories like boAt, but Kunal Shah could be more interested in scalable digital bets, finance, and SaaS.
In summary, India's leading angel investors are selecting founders who can successfully launch, grow, and create long-lasting businesses rather than merely giving out checks. You will raise the ideal partners for your journey in addition to raising money if you approach such discussions with preparation.
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