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

Angel investor · India

Piyush 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 PATTERN2012–2026
91%

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

First investment stage across 23 companies17 Seed, 4 Angel and 2 other-stage entries. Each dot represents one company.
Seed 17Angel 4Other 2

One dot = one company at first recorded investment.

23 companies · 26 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 18 Sep 2024
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

Piyush Shah has dated investments in 23 companies. 21 first entries were at Angel, Pre-Seed or Seed (91.3%). 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

2 first company relationships appear in the latest 24 months, compared with 1 in the preceding window. The latest recorded investment is 2024-09-18. This describes observed activity through 2026-05-22; it does not establish current availability.

Explore the evidence ↗
03

Plan the next financing step

13 of 21 companies with a full 24-month observation window raised another equity round. This investor backed 1 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.

Explore the evidence ↗
04

Use a specific point of relevance

Retail Tech is the largest displayed sector by company count, appearing in 4 portfolio companies; sector tags overlap. 2 first entries carry a recorded lead flag and the median first-round syndicate includes 11 other named backers. Shared rounds are evidence of co-investment, not evidence of an introduction route.

Explore the evidence ↗
01 / THE READOUT

Four signals before you pitch.

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

01 — ROUND CONTEXT
$318K–$1.7M

The middle half of entry rounds

25th–75th percentile across 22 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
2companies

First investments in the last 24 months

22 May 2024–22 May 2026, versus 1 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
62%

Another equity round within 24 months

13 of 21 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
5%

This investor invested again within 24 months

1 of the same 21 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.

23matching companies
$665Kmedian first round (22 disclosed)
2first backed in last 24 months

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

Angel

Billion Hearts Software Technologies

$250K total first round
Seed

Billion Hearts ↗

Developer of digital consumer products with a focus on global recognition

$250K total first round
Series A

Artium Academy ↗

Provider of live, one-on-one online classes for music and instruments

$3.0M 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
Retail Tech4
EdTech3
Commerce Enablers3
B2C E-Commerce3
HealthTech2
MarketingTech2
Enterprise Collaboration2
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
$375K$190K–$625K
Seed16 disclosed
$665K$325K–$1.7M
Series A2 disclosed
$2.4M$2.0M–$2.7M
$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.

21
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
61.9%
13 of 21 companies

Backed again by this investor

A subset of the companies above
4.8%
1 of 21 companies
i

Includes first investments on or before 22 May 2024. 2 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
Angel33 / 30 / 3
Seed169 / 161 / 16
Series A21 / 20 / 2
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

Wellfound

6 shared rounds · 6 companies

Latest shared round Jul 2021
02
ANGEL

Amit Gupta ↗

3 shared rounds · 3 companies

Latest shared round Aug 2021
03
FIRM

Chiratae Ventures

3 shared rounds · 3 companies

Latest shared round Jul 2022
06
FIRM

Unreasonable Capital

3 shared rounds · 1 companies

Latest shared round Jul 2022

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.

23 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Billion Hearts Software Technologies
Sep 2024Angel$250KNo later round recorded
Sep 2024Seed$250KNo later round recorded
Jul 2022Series A$3.0MNo later round recorded
Onco ↗Bengaluru
Apr 2022Series A$1.7MNo later round recorded
factors.ai ↗Wilmington
Aug 2021Seed$2.0MNo later round recorded
Knit ↗Bengaluru
Jul 2021Seed$984KNo later round recorded
Jul 2021Seed$659KNo later round recorded
Jul 2021Seed$830KNo later round recorded
Servii ↗Bengaluru
Jun 2021Angel$12KNo later round recorded
Goodmeetings ↗Los Angeles
May 2021Seed$1.7MNo later round recorded
Apr 2021Seed$2.1MNo later round recorded
Feb 2021Seed$1.8MNo later round recorded
MoEving ↗Gurugram
Feb 2021Angel$1.0MNo later round recorded
Almo ↗Gurugram
Nov 2020Seed$243KNo later round recorded
Sprint AI ↗Bengaluru
Aug 2019Angel$500KNo later round recorded
Jun 2019Seed$670KNo later round recorded
Kaarva ↗Bengaluru
Jan 2019Seed$539KYes · Dec 2019
Jan 2018Seed$314KYes · Nov 2020
Houzify ↗Bengaluru
Oct 2015Seed$648KNo later round recorded
Jul 2015Seed$2.0MNo later round recorded
Sep 2013Seed$328KNo later round recorded
Jul 2013SeedUndisclosedNo later round recorded
Mar 2012Seed$186KNo later round recorded
0 more companies have undated investments

Kept in the 23-company portfolio; excluded from entry-timing calculations.

    RESEARCH THE FIT. THEN MAKE THE CASE.

    Your pitch starts with
    your company.

    Research your market ↗
    RADAR / COMPANY DISCOVERY

    Find the businesses
    worth a closer look.

    Search , India investor companies in Radar. Filter the company directory to explore the businesses behind your market and investor research.

    Explore companies in Radar ↗
    FLIAR / CUSTOM DASHBOARD SERVICE

    A research dashboard.
    Built for your company.

    We build customized research dashboards for companies. Tell us which competitors, markets and questions matter to your team, and discuss a dashboard designed around your needs.

    Discuss a custom dashboard ↗A customized service from Fliar. Contact us to discuss your requirements.
    FLIAR PRISM / RESEARCH TOOL

    Turn your questions
    into deeper research.

    Use Fliar Prism to research a company, market or topic, with reports and insights drawn from its research dataset.

    Explore Fliar Prism ↗Start with the company or question you want to understand.
    CONTINUE YOUR RESEARCH

    Continue with Radar

    Sign in to Radar to continue researching this investor.

    Sign in to Radar ↗