INVESTOR NOTES / 001ANGEL INVESTOR / Mumbai, India
Mitesh Shah
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · Mumbai, India

Mitesh Shah.

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 PATTERN2015–2026
95%

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

First investment stage across 40 companies34 Seed, 4 Angel and 2 other-stage entries. Each dot represents one company.
Seed 34Angel 4Other 2

One dot = one company at first recorded investment.

40 companies · 54 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 05 Sep 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

Mitesh Shah has dated investments in 40 companies. 38 first entries were at Angel, Pre-Seed or Seed (95.0%). An early-stage founder can use the sector and stage filters to find comparable companies before approaching the investor.

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02

Separate activity from reputation

3 first company relationships appear in the latest 24 months, compared with 0 in the preceding window. The latest recorded investment is 2025-09-05. This describes observed activity through 2026-05-22; it does not establish current availability.

Explore the evidence ↗
03

Plan the next financing step

29 of 37 companies with a full 24-month observation window raised another equity round. This investor backed 10 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

HealthTech is the largest displayed sector by company count, appearing in 5 portfolio companies; sector tags overlap. 4 first entries carry a recorded lead flag and the median first-round syndicate includes 24.5 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
$283K–$1.3M

The middle half of entry rounds

25th–75th percentile across 40 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
3companies

First investments in the last 24 months

22 May 2024–22 May 2026, versus 0 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
78%

Another equity round within 24 months

29 of 37 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
27%

This investor invested again within 24 months

10 of the same 37 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.

40matching companies
$504Kmedian first round (40 disclosed)
3first backed in last 24 months

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

Seed

HiWiPay ↗

Provider of cross-border payment solutions

$2.0M total first round
Seed

Nanosafe Solutions ↗

Manufacturer of antimicrobial additives, pest repellents, and water quality improvement products

$375K 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.
SectorAngelSeedSeries AAll stages
HealthTech5
EdTech5
K-12 EdTech5
B2C E-Commerce5
FinTech4
Auto Tech4
Food Tech4
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
Angel4 disclosed
$185K$73K–$349K
Seed34 disclosed
$508K$301K–$1.2M
Series A1 disclosed
$5.1M$5.1M–$5.1M
$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.

37
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
78.4%
29 of 37 companies

Backed again by this investor

A subset of the companies above
27%
10 of 37 companies
i

Includes first investments on or before 22 May 2024. 3 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
Angel44 / 42 / 4
Seed3123 / 317 / 31
Series A11 / 11 / 1
Series B11 / 10 / 1
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

15 shared rounds · 11 companies

Latest shared round Jun 2024
02
ANGEL

Raman Roy ↗

13 shared rounds · 10 companies

Latest shared round Jun 2024
04
FIRM

Haystack

10 shared rounds · 7 companies

Latest shared round Jun 2024
05
ANGEL

Nitin Singhal ↗

10 shared rounds · 6 companies

Latest shared round Oct 2021

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.

40 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Sep 2025Seed$454KNo later round recorded
Feb 2025Seed$2.0MNo later round recorded
Jun 2024Seed$375KNo later round recorded
AyuRythm ↗Bengaluru
Mar 2022Seed$520KNo later round recorded
Jan 2022Seed$652KNo later round recorded
Jan 2022Seed$4.4MNo later round recorded
Oct 2021Series B$23MNo later round recorded
May 2021Seed$1.0MNo later round recorded
Apr 2021Seed$1.4MNo later round recorded
Mar 2021Seed$264KNo later round recorded
Numen ↗Bengaluru
Mar 2021Seed$1.9MNo later round recorded
Jan 2021Seed$3.1MNo later round recorded
Jan 2021Seed$137KNo later round recorded
Nov 2020Seed$403KYes · Oct 2021
Sep 2020Seed$1.0MYes · Apr 2021
Jun 2020Seed$462KNo later round recorded
Apr 2020Seed$343KNo later round recorded
Skit.ai ↗Bengaluru
Apr 2020Series A$5.1MYes · May 2021
Jan 2020Seed$517KNo later round recorded
Oct 2019Seed$61KNo later round recorded
Jul 2019Angel$507KNo later round recorded
GeoIQ ↗Bengaluru
Jul 2019Seed$209KNo later round recorded
AutoBrix ↗Bengaluru
May 2019Seed$272KYes · Oct 2019
Apr 2019Seed$619KNo later round recorded
Jan 2019Seed$287KNo later round recorded
Lo! Foods ↗Bengaluru
Dec 2018Seed$500KNo later round recorded
Syook ↗Bengaluru
Nov 2018Angel$296KNo later round recorded
Sep 2018Seed$468KYes · Oct 2019
Aug 2018Seed$183KNo later round recorded
Aug 2018Seed$341KYes · Sep 2019
Jul 2018Seed$808KYes · May 2019
Jul 2018Seed$170KNo later round recorded
Qbera ↗Bengaluru
May 2018Seed$3.6MNo later round recorded
HabitStrong ↗Thiruvananthapuram
Aug 2017Angel$73KYes · Mar 2019
Aug 2017Angel$73KYes · Mar 2019
Aug 2017Seed$553KYes · Feb 2018
Jul 2016Seed$1.3MYes · Feb 2019
Jun 2016Seed$1.3MYes · Feb 2019
Oct 2015Seed$115KNo later round recorded
Amber ↗Mumbai
Oct 2015Seed$1.5MNo later round recorded
0 more companies have undated investments

Kept in the 40-company portfolio; excluded from entry-timing calculations.

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