BackStartupXseed to finance semiconductor, security and embedded-system start-ups
Rs30 crore fund has been financed for start-ups, mainly in Hyderabad and Bengaluru
Premium
Bengaluru: StartupXseed Ventures LLP, a seed funding company, said it will launch a Rs30 crore fund to finance semiconductor, security and embedded-system start-ups, mainly in Hyderabad and Bengaluru.
Aaruha Technology Fund’s differentiating factor is its model of combining incubation with seed investments, and providing “hand-holding" in everything from sales to scaling up for start-ups to get venture capital, said B.V. Naidu, managing director, StartupXseed, and chairman of Sagitaur Ventures India Pvt Ltd.
With a network of about 20 people for investment and advisory support, including IT industry veterans like Sridhar Mitta, who was part of Wipro Ltd at its inception, and Janakiraman Srinivasan, co-founder Mindtree Ltd, the fund will evaluate six companies before deciding to invest in one, with the investment size ranging from Rs50 lakh to Rs1.2 crore.
It has partnered with venture capital firms Aarin Capital and Exfinity Ventures, with former Infosys Ltd board members T.V. Mohandas Pai and V. Balakrishnan joining StartupXseed as partner, and chairman, respectively.
StartupXseed also announced a tie-up with International Institute of Information Technology-Bangalore’s incubator and Blue Sky Angels, an initiative of eHealth Technology Business Incubator, which is sponsored by the department of science and technology, government of India, and said it would announce its partnerships with eight other incubators soon.
“The intention of StartupXseed is to see how we can connect these incubators through seed funding and co-founder support, provide them all the support for whatever they need, till they reach the growth stage and hand them over to the next level of funds, who can take over the growth aspects of those companies," said V. Ramakrishna, partner, StartupXseed.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
