HUG Innovations raises Rupees 33crore

Hyderabad: City-based start-up HUG Innovations raised Rs33-cr funding at the second edition of The Guardian Angel Live Instant Funding. TiE Hyderabad organised The Guardian Angel Live funding platform, which recorded 125 applicants seeking financial support for their ventures.

125 start-ups pitch ideas to angel investors at The Guardian Angel platform

Out of the four start-ups, which pitched their idea to pin-up investors HUG Innovations succeeded in raising $5 million (Rs 33cr) series A Funding.The second edition of TiE-Hyderabad- The Guardian Angel follows its successful and highly acclaimed debut in 2016 where two start-ups raised funds to the tune of Rs1.75Cr.

Rakesh Bhatia, Chair, The Guardian Angel, said: “We’re are overwhelmed, the second edition of The Guardian Angel brought rejoicing number of innovative startups and great stories to the platform. We’re confident the tale of these successful start-ups will create new benchmarks in the ecosystem and drive entrepreneurship in the coming generation.”

Pradeep Mittal, President, TiE Hyderabad, said: “We believe startups could add several millions to the economy with the right support and finance to scale-up. Our instant live funding initiative is designed to tackle this funding gap.”

By Business Bureau