Sagoon.Inc. is in the process of raising $20 million in fresh funding through a `mini-IPO', under the regulations enacted by the Obama administration's landmark JOBS Act. The Delaware and Noida-based venture, which was founded by Nepalese-origin entrepreneur Govinda Giri, is looking to raise funds under Regulation A-plus of the Act, which allows startups to raise up to $50 million from unaccredited investors. "Instead of raising funds from venture capital investors, we decided to reach out to the public directly through this route," said Swati Dayal, cofounder of Sagoon.