INVESTOR NOTES / 001ANGEL INVESTOR / San Ramon, United States
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · San Ramon, United States

Ajay Upadhyaya.

Recorded investments.
A clearer sense of fit.

Find where your company fits, how rounds are assembled, and what happened after the first investment.

THE ENTRY PATTERN2014–2026
78%

of dated first investments
were at Angel, Pre-Seed or Seed

First investment stage across 18 companies14 Seed, 0 Angel and 4 other-stage entries. Each dot represents one company.
Seed 14Angel 0Other 4

One dot = one company at first recorded investment.

18 companies · 24 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 28 May 2025
THE FOUNDER’S BRIEF

Read the pattern before the pitch.

Written insights from the recorded portfolio, with the evidence linked below.

01

Start with the first entry

Ajay Upadhyaya has dated investments in 18 companies. 14 first entries were at Angel, Pre-Seed or Seed (77.8%). An early-stage founder can use the sector and stage filters to find comparable companies before approaching the investor.

Explore the evidence ↗
02

Separate activity from reputation

1 first company relationships appear in the latest 24 months, compared with 3 in the preceding window. The latest recorded investment is 2025-05-28. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

9 of 17 companies with a full 24-month observation window raised another equity round. This investor backed 6 of those companies again within that window. The difference is a reason to research the wider syndicate, rather than assume the same investor will fund the next round.

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04

Use a specific point of relevance

EdTech is the largest displayed sector by company count, appearing in 4 portfolio companies; sector tags overlap. 1 first entries carry a recorded lead flag and the median first-round syndicate includes 38.5 other named backers. Shared rounds are evidence of co-investment, not evidence of an introduction route.

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01 / THE READOUT

Four signals before you pitch.

Start with observed behavior.
Every rate has a defined denominator.

01 — ROUND CONTEXT
$335K–$2.4M

The middle half of entry rounds

25th–75th percentile across 18 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
1companies

First investments in the last 24 months

22 May 2024–22 May 2026, versus 3 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
53%

Another equity round within 24 months

9 of 17 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
35%

This investor invested again within 24 months

6 of the same 17 companies. Build a financing plan around the wider investor market.

Explore co-investors ↗
02 / FIND YOUR FIT

Where does your company sit?

Choose your sector and stage to find
companies he first backed in that space.

YOUR COMPANY

A match means a recorded investment in this category. It does not establish current interest or availability.

18matching companies
$569Kmedian first round (18 disclosed)
1first backed in last 24 months

All sectors · All entry stages. Round amounts are total financing, in USD.

Series B

Desi Farms ↗

Provider of direct-to-consumer, farm-to-table delivery of fresh dairy products, including milk, yogurt, and other preservative-free dairy products

$18M total first round
Seed

Beamer Brands ↗

Operator of quick-service restaurants offering burgers and related food items

$333K total first round
Explore matching portfolio companies ↓

The sector × stage map

First investments · companies can appear in more than one sector
Number of first investments by sector and entry stage. Select a cell to explore companies.
SectorSeedSeries ASeries BAll stages
EdTech4
HRTech2
Agri Tech2
AgriTech2
B2B AgriTech2
Crop Tech2
Social Platforms2
03 / ROUND DESIGN

The round around the investor.

Use stage-specific financing ranges
to frame the size of your syndicate.

First-round size, by entry stage

USD · middle 50% and median
Seed14 disclosed
$472K$277K–$678K
Series A3 disclosed
$3.2M$1.9M–$6.1M
Series B1 disclosed
$18M$18M–$18M
$10K$100K$1M$10M

Logarithmic scale. A dot marks the median; the band spans the 25th–75th percentiles. These are entire rounds, not individual cheques.

04 / WHAT HAPPENS NEXT

One investment. Two different paths.

A subsequent round and repeat backing
answer different fundraising questions.

17
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
52.9%
9 of 17 companies

Backed again by this investor

A subset of the companies above
35.3%
6 of 17 companies
i

Includes first investments on or before 22 May 2024. 1 newer companies and 0 undated histories are excluded. Follow-up stops at the dataset’s latest round on 22 May 2026. These observations do not measure returns or predict a company’s outcome.

See the stage-by-stage denominators +
First stageEligible companiesNext round ≤24 moSame investor again ≤24 mo
Seed148 / 145 / 14
Series A31 / 31 / 3
Series B00 / 00 / 0
05 / INVESTMENT RHYTHM

New names. Returning relationships.

Separate first investments from later
rounds in companies already backed.

New companiesRepeat rounds

*2026 is partial, through 22 May. Bar height counts first investments + repeat rounds; earlier years are complete calendar periods in this dataset.

06 / THE CO-INVESTOR MAP

Who else belongs on your research list?

Frequent shared rounds suggest a place
to investigate sector and stage alignment.

01
FIRM

Indian Angel Network

16 shared rounds · 15 companies

Latest shared round Jun 2022
03
ANGEL

Raman Roy ↗

15 shared rounds · 13 companies

Latest shared round Apr 2023
04
ANGEL

Pradeep Kumar ↗

11 shared rounds · 9 companies

Latest shared round Nov 2023
05
FIRM

Sparrow Technologies

11 shared rounds · 8 companies

Latest shared round Nov 2023
06
FIRM

Haystack

10 shared rounds · 7 companies

Latest shared round Nov 2023

Shared rounds establish recorded co-investment. They do not establish a personal connection, introduction route, or current willingness to invest.

07 / THE EVIDENCE

Explore the portfolio.

First investment comes first.
Amounts refer to that entry round.

18 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
May 2025Series B$18MNo later round recorded
Jun 2022Seed$703KYes · Nov 2023
Jun 2022Seed$333KYes · Nov 2023
Jun 2022Seed$258KNo later round recorded
Apr 2022Series A$657KNo later round recorded
Feb 2022Seed$537KYes · Apr 2023
Feb 2022Seed$134KNo later round recorded
Jan 2022Seed$532KNo later round recorded
Sep 2021Seed$600KNo later round recorded
Learn4o ↗Chittorgarh
Jul 2021Seed$89KNo later round recorded
Jul 2021Seed$3.1MNo later round recorded
Jul 2021Seed$3.0MNo later round recorded
Fyllo ↗Bengaluru
Jun 2021Seed$411KYes · Apr 2022
May 2021Seed$342KNo later round recorded
Dec 2020Seed$84KNo later round recorded
Oct 2020Series A$3.2MNo later round recorded
Aug 2020Seed$771KYes · Apr 2021
Apr 2014Series A$9.0MYes · Jan 2015
0 more companies have undated investments

Kept in the 18-company portfolio; excluded from entry-timing calculations.

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