Angel network Mumbai Angels has invested in Yoga Smoga. The yoga-inspired athletic apparel and accessories company was founded in 2010 by US-based Indian-origin entrepreneur Rishi Bali.
A financial daily report states that the angel network, with a group of unnamed US based Angels, has invested around Rs 5 crore in the company.
This is the fifth international investment for the angel group.
Among various things Yoga Smoga has developed a high technology fabric, Aurum+, that is a mix of Supplex, a synthetic fabric that is stretchable and fast-drying, and Lycra. The company also uses nano technology to ensure moisture management. This makes makes their products dry quicker. The company claims to be very eco friendly and the fabric is made and dyed in the US.
The firm launched its online store earlier this year, which at present has products for women and a few accessories. Men’s products are coming soon and they also intend to launch an offline store in the US.
The Angel network’s previous international investments include Silicon Valley based 5D technology solutions provider ScreamPoint, data-driven search marketing venture NetElixir and fashion portal targeted at NRIs, Exclusively.in, which was acquired by Myntra last year.
Locally, they have invested in a number of firms including Plustxt, InMobi, Canvera and M-Tech. commended Read: Intellocut wants to help garment manufacturers to save costs, offers software to optimise shop floor