Khaitan Legal Associates advised Indian Angel Network (IAN) Alpha Fund in making an investment of approx. ₹43 crore ($5 million) in Pre-Seed A Round in Brainsight Technologies Private Limited (Brainsight).
The firm's transaction team consisted of Kinjal Katkoria Parihar (Associate Partner), Saumya Dev (Senior Associate), Dewansh Vashishth, Abhishek Bindal, Mohini Sonkar and Gaurav Deep Agrawal (Associates).
The funding round also saw participation of IvyCap Ventures, Silver Needle, apart from existing investors.
Indian Angel Network (IAN) is a prominent group of angel investors in India that focuses on funding early-stage startups. Established in April 2006 by Alok Mittal and Padmaja Ruparel, IAN has grown to include over 470 members from around 11 countries, making it one of the largest angel networks in India.
The network aims to provide not only financial support but also access to mentorship, strategic guidance, and extensive networking opportunities for startups.
BrainSight AI is a healthtech startup that integrates artificial intelligence (AI) and neuroscience to enhance the diagnosis and treatment of neurological and psychiatric disorders. Founded in 2019, the company focuses on creating personalised brain maps through advanced neuroimaging techniques, specifically using functional magnetic resonance imaging (fMRI) and machine learning models. These maps assist clinicians by providing critical insights into brain connectivity, which can improve patient outcomes and inform treatment strategies.
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