Utsav Somani, former CEO of AngelList India, has started a new venture ‘Offline’. It is a club exclusively for tech startup founders and CEOs. Offline has already raised USD 2 million from micro-VC funds like Better Capital, DeVC, Huddle, Riverwalk Ventures, and India Silicon Valley, according to media reports.
As many as 45 founders of companies, including Groww, Razorpay, Polygon, CoinDCX, Shiprocket, Ultrahuman, BharatPe, Park+, M2P, Fashinza, Xiaomi, GoKwik, Mosaic Wellness, Dr. Vaidya’s and The Moms Co., have also put money in Somani’s latest venture.
Influencer-turned-investors Tanmay Bhat and Shlok Srivastava (TechBurner) have also invested in the startup.
So far, Somani has invested in over 150 startups. He also runs two funds—Galaxy and iseed—with AUM (assets under management) of USD 100 million.
The hyper-curated platform is expected to have over 100 members. A founder needs to meet these criteria to join the community: USD 5 million raised or USD 5 million in revenue or USD 10 million in previous exit.
Multiple rounds of conversations are held before the applicants are accepted, the founder said to a media publication. The playbook for relevant topics of discussion has been designed by global business coaches.
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