Mohit Sadaani joined early-stage venture capital (VC) firm DeVC as its managing director two years after leaving Moms Co
Over the past two years, Sadaani has been working as an angel investor, backing 30 startups like Perfora, Zippee, BizUp, My Muse, Ripik.ai
Founded in 2022, DeVC backs startups across sectors at angel, seed and pre-seed levels. It claims to be a fund by founders, operators and early investors
About two years after quitting his D2C mom and baby care startup The Moms Co, Mohit Sadaani has joined early-stage venture capital (VC) firm DeVC as its managing director.
Sadaani took to LinkedIn to make the announcement. “When I exited The Moms Co. in 2022, I found myself at a crossroads. I had a successful exit & the time to explore different paths, but I wasn’t sure what came next… Enter DeVC, 2023. After doing 10 angel deals with the team, I knew this was where this purpose could truly come alive,” he said in a post.
He added that he took up angel investing after leaving The Moms Co
and backed 30 startups, including Perfora, Zippee, BizUp, My Muse, Ripik.ai. This helped him realise that he wants to work with the founders.
“DeVC stands for “Distributed VC”; it’s a fund that lives by the mantra: ‘For Founders, By Founders.’… We offer hands-on support from those who’ve lived the ups and downs of the founder journey,” Sadaani said.
Founded in 2022, DeVC backs startups across sectors at angel, seed and pre-seed levels. It claims to be a fund by founders, operators and early investors. The average ticket size of DeVC’s investments ranges between $50K to $500K. It has invested in over 70 startups including Bidso, Hotelzify, EMoMee. It has invested in over 70 startups, including Bidso, Hotelzify, EMoMee.
The VC firm also counts over 40 prominent figures in the Indian startup ecosystem, including Razorpay’s Harshil Mathur, Swiggy’s Rohit Kapur, Haptik’s Akrit Vaish, BharatPe’s Suhail Sameer, as mentors for startups it invests in.
It is pertinent to note that content-to-commerce platform The Good Glamm Group acquired The Moms Co in 2021. Post the acquisition, Sadaani moved away from its day-to-day operations as The Good Glamm Group raised its stake in the startup to 90% from 75% earlier. Meanwhile, the startup’s other cofounder and Sadaani’s wife Malika Datt Sadani continues to work as the founder of the startup.
Earlier this year, it was reported that Sadaani, along with other startups acquired by The Good Glamm Group – Sirona Hygiene and the Indian Angel Network (IAN), filed default notices against The Good Glamm Group. They claimed that The Good Glamm Group did not make the final payments due to them.
In its last financial disclosure for the financial year 2022-23 (FY23), The Moms Co reported a 60% jump in its net loss to INR 64.38 Cr from INR 40.14 Cr in the previous fiscal year. Its operating revenue grew 38% to INR 71.22 Cr during the year under review from INR 51.51 Cr in FY22.
Sadaani joins DeVC at a time when early stage investments in the Indian startup ecosystem are picking up. As per Inc42 data, seed-stage funding zoomed 23% to $589 Mn in H1 2024 from $479 Mn in the year-ago period.
