Mumbai Angels invests in Yoga Smoga

Angel network Mumbai Angels has invested in Yoga

Smoga, a yoga-inspired athletic apparel and accessories company founded by US-based Indian- entrepreneur Rishi Bali. This is the fifth international investment for the Angel group. Yoga Smoga was founded in 2010 as a designer and manufacturer of athletic clothing.

Mumbai Angels, along with a group from the US has invested around Rs five crores in the company. The company has developed a high technology fabric that is a mix of Supplex, a synthetic fabric that is stretchable and fast-drying, and Lycra. The company also claims to have used nano technology to ensure moisture management, which makes their workout clothes dry quicker.

The firm launched its online store earlier this year and intends to launch an offline store in the US. Founder Bali is a former Goldman Sachs employee, who had earlier started an early-stage venture fund Bali Investors Group. The Angel network’s previous international investments include Silicon Valley based 5D technology solutions provider ScreamPoint, data-driven search marketing venture NetElixir and fashion portal targeted at NRIs, Exclusively.in, which was acquired by Myntra last year.