Ajeet Khurana is a much adored angel investor and mentor to many an early stage startup and to a few thousand aspiring entrepreneurs in India. So it’s always good to hear positive reports from his end. News comes via his LinkedIn posts that not only has he scored an exit this year but another of his portfolio companies has gone on to successfully raise rupees 12 crores in venture capital.
Pickme was founded in 2011 and offers smart door step after sales services by eliminating personal intervention in gadget care. Here’s Ajeet talking about Pickme raising VC funding of 12 crores (approximately 1.8 million dollars):
“There's general news of a slowdown in the startup space. So it is a sheer delight to see some of my portfolio companies THRIVE, when others are struggling to SURVIVE. Today's good news comes from PICKME eSolutions…, where I am a shareholder. Not just have they demonstrated revenue and profit growth of well over 100X since the time of my investment, they have now successfully raised Venture Capital funding of Rs. 12,00,00,000.
Very proud of the founders: Praful Wadyalkar and Wilbret D Raj. Hearty congratulations to both of them: very well done guys. I know the arduous journey that you have traveled, and I know that you have miles to go before PICKME harvests its true potential. (PS: In my LinkedIn post 2 weeks ago, I had talked about one of my exits. That was a different company and I am now in a position to name it: please join me in congratulating: SnackExperts and its founders Arul Murugan and Arun Prakash).”
In late February Ajeet did celebrate his happy exit from the startup, SnackExperts. However he never mentioned any names due to confidentiality agreements formed with the new investors taking over.
Snack Experts was founded in 2014 and is an online healthy food delivery platform.
Here’s that cryptic but joyful post:
“A rare celebration in the life of an angel / seed investor is when they successfully exit an investment at a good multiple. Today is one of those days. I finally signed the requisite dox for one of my investments, and expect payment in a few days! I had only one of these days in 2016, and it was not too happy an exit. So today is a relief after a long time. Phew! This coupled with another investment's successful funding round at a great multiple has made 2017 the best year for me since my accidental introduction to angel investing in 1998.
We are into March of this year, but we all sincerely hope that more investors and startups will have more and more good news come their way.