Chiratae Ventures Selects 19 Startups For Its Innovators Program
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Bengaluru-based venture capital fund Chiratae Ventures on Wednesday announced the names of the startups selected in the seventh edition of its Innovators Program. The program witnessed participation from over 500 homegrown startups for their five-week foundational initiative which seeks to empower seed and early-stage founders.
The selected startups represent a wide range of industries, including consumer tech, software, healthtech, deeptech, and fintech. The first 19 startups selected through the program are AyuRythm, Inspektlabs, Quollab, Euphotic Labs Pvt Ltd (Nosh), Chainflux, VogueMe Technologies Pvt Ltd (Toch.ai), Code Test Pvt Ltd (CodeTest), PhySarum, Vyorius Drones LLP (Vyorius), Zealth, Heyy.life, Ai Health Highway India Pvt Ltd (AiSteth), Rightbot Private Limited, Retail Pulse, Mowito, Whrrl, Escrowpay, Insurance Samadhan, and Ark Neo Finance.
“Our Innovators Program is rooted in our commitment towards strengthening our homegrown startup ecosystem. We are happy to have received a large number of applications this year. It is truly inspiring to witness the grit and determination of founders who are working towards scaling innovative solutions that aim to shift paradigms and create real value,” remarked Chiratae Ventures founder and chairman Sudhir Sethi, while commenting on the announcement.
The five-week program is focused on key aspects in the growth of startups including market analysis, team building and culture, technology, product, market entry and expansion, and fundraising. The program also hosts tech experts and industry evangelists to create a high-level learning and knowledge-sharing experience for all participants. Through the program, the selected startups also gain access to both local and global markets via the company’s corporate collaboration partners.
“Our program is the longest-running seed initiative among all venture funds and we have invested over $125 million in 50 seed investments including companies such as Uniphore, NestAway, PlaySimple, Rentomojo, Unbxd and CloudCherry which was acquired by Cisco. Some of our portfolio companies such as Emotix and PlayShifu have expanded to the US and globally. We are thrilled to partner with these startups in their entrepreneurial journey and support their endeavors through the program and with support from our corporate partners like AWS, Cisco, and Japanese corporations,” Sethi added.
Launched in 2006, formerly known as IDG Ventures India, the company has advised funds with assets under management of approximately $800 million since inception has invested in over 95 companies including 4 unicorns and 40 exits including 2 IPOs (initial public offerings).
“We believe the new normal post-pandemic has created a whole new opportunity with a digital-first world where consumer behavior and working patterns can create large value for a country like India and we would like to support founders who are working towards those ideas. We welcome our batch of 19 startups and aim to support their growth through the program,” added Chiratae Ventures partner and head of consumer technology Karan Mohla, in a statement.