Hyderabad Angels, a network of angel investors focused on early-stage businesses, is likely to close its first deal of the year by end of this month.
“We are in due diligence process with Hyderabad-based start-up Catamaran Waterbase Solutions Private Limited. We are likely to close the deal by January end,” Murali Bukkapatnam, head of The Capitol Projects Private Limited and member of Hyderabad Angels, told Business Standard.
Catamaran was shortlisted along with two other start-ups including Thrillophilia Adventure at the ISB-TiE Connect competition held last year. Catamaran, which started operation in 2009, is into fish procurement and delivery to major hotels.
“The startup is in an emerging space - food consumption. As India's consumer market is growing in the food and beverages space, any entrepreneur who is trying to add value to consumers through its products will have great growth opportunities,” he said.
Hyderabad Angels may fund around Rs 2 crore in the start-up.
