Former Snapdeal product head backs online funding platform LetsVenture

Former chief product officer at Snapdeal Anand Chandrasekaran has invested in Bangalore-based IndiePitch Solutions Pvt. Ltd, which runs online funding platform LetsVenture, according to a press statement.

LetsVenture also allows startups to get their business plans reviewed by experts and helps them connect with mentors. The firm's legal partner is Bangalore-based K Law, which helps startups and investors draft term sheets and shareholder agreements.

In October 2015, LetsVenture had raised an undisclosed amount in Series A funding from Accel Partners, People Group's Anupam Mittal and 16 other investors.

Infosys co-founder Nandan Nilekani, Snapdeal's Kunal Bahl and Rohit Bansal, Wipro's Rishad Premji, Manipal Global Education's Mohandas Pai and Freshdesk's Girish Mathrubootham, among others, have also backed LetsVenture.

In May 2014, it received Rs 4 crore ($600,000) in seed funding from 21 investors, led by Eka Software's co-founder Manav Garg, InMobi's co-founder Naveen Tewari, angel investor Rajan Anandan and iSPIRT's Sharad Sharma.

In February, it had participated in an angel round in New Delhi-based Guerrilla Infra Solutions Pvt. Ltd that runs co-working space Innov8. Other startups that raised funds through the platform include co-living space provider StayAbode and legal tech startup MyAvo.

Chandrasekaran has emerged as an active angel investor and has made 35 investments so far, backing startups such as ed-tech firm Makkajai, mobile payments firm Tone Tag, online home rental portal No Broker, fashion discovery portal Wooplr, medicine delivery startup Netmeds and rewards startup Crownit, among others.

He previously led the product division at Snapdeal, and in September last year, was hired by Facebook to help develop strategies for its Messenger app.

In January, Chandrasekaran had invested an undisclosed amount in fashion portal Fynd, run by Shopsense Technologies Pvt. Ltd.

Chandrasekaran has also exited companies such as Creo, Pulse, Pluss, and Gigstart in the past.