Calcutta, Aug. 19: Indian Angel Network (IAN), the country's first network of angel investors, plans to invest in two city-based start-ups in online healthcare and offline food segments within two months.

"We should be announcing the final investment soon," IAN president Padmaja Ruparel said at the first annual meet of Calcutta Angels Network in the city. At present, the team of angel investors plans to invest about Rs 3 crore in each of the start-ups.

IAN recently invested Rs 10 crore in Wow Momo, a city-based food chain, which has 52 outlets in six cities, including Delhi and Bangalore.

Ruparel said the city's start-up ecosystem had improved drastically over the last 2-3 years across various sectors. " Even two years ago, the start-up ecosystem in this region was not so vibrant. But now, I have witnessed a lot of improvement," she said, adding that the country had achieved the highest growth rate in terms of start-ups.

Delhi-based IAN is the largest network of angel investors in the world. It has over 350 members from 10 countries and investments in seven countries across 16 sectors.

The two-year old Calcutta Angels Network is also optimistic about the growth of start-ups in the city. It has funded eight start-ups, involving a total investment of Rs 3.5 crore.

"There have been a lot of new investors in the city who are willing to fund start-ups here and outside," said Raghav Kanoria, co-founder of Calcutta Angels Network.