Utsav Somani's 'Offline' Secures $2M to Build Exclusive Startup Community
Burgeon Law Acts for Utsav Somani and His Venture 'Offline’' in Securing $2 Million from the Micro-VC Funds Better Capital Corp., DeVC , Huddle, Riverwalk Holdings Ventures and India Silicon Valley.
The venture has also been backed by almost 45 founders from companies like Groww, India, Razorpay, 𝐏𝐨𝐥𝐲𝐠𝐨𝐧, CoinDCX, Shiprocket, Ultrahuman, BharatPe, Park+, M2P Fintech, Fashinza, Xiaomi Technology, GoKwik, and Mosaic Wellness, along with Influencers such as Tanmay Bhat and Shlok Srivastava (TechBurner).
The venture shall be a private (members-only) community for the biggest names in the Indian startup ecosystem. The platform has specific criteria for the members to join the community, such as raising $5 million or generating $5 million in revenue or achieving $10 million in a previous exit or a CXO with a $50 million valued startup.
Utsav Somani joined forces with AngelList and brought the syndicate U.S.-based startup fundraising platform, to India in 2016 assisting investors and entrepreneurs in connecting online, as well as allowing investors to build VC Funds to make a single investment. Within a span of just two years, the platform facilitated investments in over 120 start-ups in India and boasts of more than 1,000 unique investors.
Along with this, the early-stage angel investor, Utsav Somani, has invested in over 150 startups, also runs two funds- Galaxy and iSeed—with AUM (assets under management) of more than $100 million.
Ankit Bhasin (Associate Partner), Aastha Agarwalla (Associate) and Saransh Agarwal (Associate) worked on this deal.
The entire team at Burgeon Law is delighted to represent and be affiliated with a forward thinker, Utsav Somani and his new venture ‘𝐎𝐟𝐟𝐥𝐢𝐧𝐞‘ and shall be looking forward to collaborating with him in future endeavors.
