India’s largest business angels group has made its first investment in a UK startup, investing in London-based company SwiftShift. The amount was not disclosed. The Indian Angel Network (IAN) is Asia’s largest angel network of over 250 investors spread across 10 countries. Effectively, this is an Indian angel network investing in a UK company run by an Israeli in London.
SwiftShift allows companies to quickly fill short-notice shifts using their own staff through SMS, email, and mobile technology.
The Indian Angel Network decided to invest in SwiftShift following a pitching session in London organised by UKTI where seven companies presented to the investors.
According to UK government figures, Indian firms are now the fifth largest investors in the UK and more than 50 percent of Indian investment into Europe goes to the UK.
The IAN has already invested in startups in the US.., Canada, France, Hong Kong, Singapore, Sri Lanka and India.