India has grown into a hub for startups in various sectors. As the third largest startup ecosystem in the world, India now has more tech driven startups than Israel and China. Angel investors have been a boon to the startup society providing them with early equity investments. While starting a new business, angel investors help with the initial boost required to hone their product and launch the startup.
We’ve compiled a list of top investors in India who have helped several startups develop and grow.
1. Krishnan Ganesh
He is a serial entrepreneur and the cofounder and chairman of Portea Medical. Over the years he has invested in startups like Must See India, SilverPush, HackerEarth, Oximity, Overcart, Browntape, delyver.com and Onlineprasad.com. He was also the CEO of the online tutoring website TutorVista which addresses global students through remote teachers.
2. Meena Ganesh
India’s foremost business leaders, Meena Ganesh was selected by Fortune India as one of the 50 ‘Most Powerful Women in Business.’ She is the MD and CEO of Portea Medical and helped cofound one of India’s pioneering BPO company, Customer Asset. Meena also served on the jury for the inaugural Economic Times Startup Awards in 2015. Her current venture GrowthStory helps in founding and raising funds for startups through institutional venture capitalists.
3. Ranjan Anandan
He is an MIT and Stanford educated entrepreneur residing in Bengaluru. Ranjan has cofounded Blue Ocean Ventures in Sri Lanka and has emerged as one of the most active angel investors in India. He has invested in more than 80 startups such as Druva, Insta Mojo, TravelKhana, Quench, Miss Malini, Popxo.com and Burrp. He is currently Google India’s Managing Director and was previously part of Microsoft India.
4. Ravi Gururaj
He is the chairman and cofounder of Frictionless Ventures and chairs the product council of NASSCOM. Ravi is also a leading member on several angel platforms and is currently focusing on driving the 1000 Startups program backed by NASSCOM and Google. Ravi Gururaj has invested in various startups like AppVirality Inc, Wegilant (Appvigil), Hiree, Tookitaki, Explara, and Socialblood Inc.
5. Anupam Mittal
Boston College graduate Anupam Mittal is the founder and CEO of People Group and the ex chairman of Internet and Mobile Association of India (IAMAI.) The People Group owns established business entities like shaadi.com, makaan.com, Mauj Mobile and People Pictures. Mittal’s key interest areas are SaaS, consumer internet, mobile and marketplaces and he likes to back businesses that have huge market potential.
If you feel we’ve missed out on key angel investors, let us know in the comments section below. You can also write to us at [email protected]
PayU India, owned by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, a year after getting in-principle approval in April 2024. This authorization allows PayU to onboard new merchants and offer digital payment solutions, joining other major players like Razorpay, CCAvenue, and BillDesk.
The RBI’s nod comes as PayU prepares for its planned IPO in the second half of 2025, following a delay from its original 2024 timeline due to market conditions. The company, which serves over 450,000 merchants, reported $319 million in revenue from its core payments and credit business in the first half of FY25.
PayU stated that the approval will help it build a resilient, compliant, and innovation-driven institution, supporting merchants of all sizes and advancing the Digital India vision. The company has also strengthened its risk management and expanded its presence in real-time payments through a strategic stake in Mindgate Solutions.
Sarvam AI, the Bengaluru-based GenAI startup selected by the Indian government to develop the country’s first sovereign large language model (LLM), has launched Bulbul V2-a speech AI model supporting 11 Indian languages, including Hindi, Tamil, Telugu, Marathi, Bengali, Punjabi, and Odia.
Bulbul V2 stands out for its natural, regionally authentic accents, delivering speech that sounds genuinely Indian rather than robotic or rehearsed. The model offers ultra-fast performance with a P90 latency of just 0.398 seconds, significantly faster than global competitors like ElevenLabs, and is priced at ₹15 per 10,000 characters-five times cheaper than leading alternatives. Brands can also customize voices to create unique audio identities. This launch reinforces Sarvam’s mission to make AI accessible and inclusive for India’s diverse population. Alongside Bulbul V2, Sarvam is building India’s first sovereign LLM under the IndiaAI Mission, focusing on secure, scalable, and multilingual AI solutions developed entirely within the country using local talent and infrastructure
Cult.fit, the Bengaluru-based fitness and wellness platform backed by Zomato, has finalized five top investment banks—Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley, and JM Financial—to manage its highly anticipated Initial Public Offering (IPO). The company aims to raise ₹2,500 crore through this offering, which is expected to value Cult.fit at nearly $2 billion.
Company Growth and Business Model
Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cult.fit has grown into a diversified health and wellness ecosystem. The company operates over 500 gyms across India and has expanded into multiple segments:
Cultsport: Direct-to-consumer fitness apparel and equipment (30% revenue contribution).
Eat.fit: Healthy meal delivery service (24.5% of revenue).
Mind.fit: Yoga and mental wellness services.
Care.fit: Healthcare clinics and diagnostics.
In FY24, Cult.fit reported an operating revenue of ₹927 crore, a 33.6% jump from ₹694 crore in FY23. Despite this growth, the company recorded a loss of ₹535 crore.
IPO Details
The IPO marks a significant milestone for Cult.fit, which was last valued at $1.56 billion during Zomato’s $100 million investment in 2021. With strong backing from investors like Accel Partners, Tata Digital, Temasek, Kalaari Capital, and Chiratae Ventures, the upcoming IPO is set to further strengthen its position in the Indian fitness industry.
Strategic Importance
Cult.fit’s move to go public reflects its ambition to scale operations and attract institutional investors globally. Its diversified business model positions the company as a leader in India’s growing fitness market. Analysts are closely watching this IPO as one of the most anticipated offerings of 2025.