Piper Serica Raises INR 75 Crore From Wide Range Of Investors

Mumbai-based Piper Serica Advisors Pvt. Ltd, a SEBI Registered Category 1 Angel Fund which focuses on investing in early-stage tech-based startups, has raised INR 75 crore funds from a wide range of investors and expects to raise the remaining 25 crore in a couple of months to invest in startups with exponential growth models. Piper Serica claimed to help its portfolio companies scale up rapidly by helping them acquire clients, build teams and raise further rounds of capital. It takes a collaborative approach to investing with other like-minded investors.

“We are very excited with the response we have received from investors and founders alike. We are investing in several high-quality companies and expect to have very profitable exits from them in line with our strategy. We are very happy with the presence we have created in the startup ecosystem. We are seeing very high-quality deal flow from other funds, platforms, and directly from founders,” said Abhay Agarwal, director of Piper Serica Advisors.

With an aim to invest in high-quality startups that use technology to create tangible value for their customers, Piper Serica launched its 100 crore category 1 Angel Fund in September 2022. Since then, the company has invested in 5 companies and expects to invest in 25-30 companies more. The five companies include ALT Mobility, Crediwatch, ZFW Dark Stores, Driffle and Oditly, claimed by the company in a statement.

“The much talked about funding winter has actually normalised the valuation expectation by founders. This is giving us access to good businesses run by very good founders and available at reasonable valuations,” said Ajay Modi, vice-president of Piper Serica.