Angel Fund to invest in 2 start-ups
On the back of investing in Niftron, a blockchain-as-a-service (BaaS) platform that aims to make blockchain simpler and more affordable for businesses at all levels and industries, the Angel Fund, an initiative of the Lankan Angel Network (LAN) has identified two more start-ups to put money in.
“We identified a company in the Fintech space and another one in the Fast Moving Consumer Goods sector,” Chalinda Abeykoon, CEO LAN told the Business Times. LAN investors will decide at a virtual meeting on investing in these two companies, he added. Angel Fund investors are based out of Singapore, Sri Lanka, UK and the US. Already LAN has got 30 more funding applications for the next quarter.
The Angel Fund was started by the LAN with the support of ecosystem development partner Ford Foundation to catalyse the growth of Sri Lanka’s startup ecosystem.
Niftron is one of the first investments made by the Angel Fund since its launch last year. Its platform allows integrating blockchain with their products or projects easily and efficiently to improve trust by providing transparency, security, and ownership. It’s easy to use, even for those without the knowledge of blockchain.