 "Hyderabad Angels exits from Edutor Technologies")
Hyderabad Angels (HA), a network of angel investors focused on early-stage businesses, has exited education startup Edutor Technologies with 3.5X returns.
Edutor Technologies is a Hyderabad-based startup that develops and markets interactive learning platforms for touch devices and serves the education sector.
"This is our first exit and we hope to make few more during the course of the year," said PS Sreekanth, investment director at Hyderabad Angels.
Existing investors bought HA's undisclosed stake in Edutor.
"Besides working on our first exit and helping few other portfolio companies successfully raise their next round of funding, we are currently focusing on the seven deals in the pipeline, which are at various stages of closing," Sreekanth added.
Edutor Technologies had raised Rs 2 crore from Hyderabad Angels in March 2012. Serial entrepreneur-turned-investor Sashi Reddi, founder of seed-stage venture capital fund SRI Capital, had led this round of funding with Rs 1 crore.
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HA has invested Rs 15 crore across 11 startups in the last four years, including in GIBSS, Thrillophilia, Online Prasad and NowFloats. It is in the process of making fresh investments to the tune of Rs 6 crore in various startups.