Axilor Ventures, a Bengaluru-based seed fund outfit that invests in early-stage startups, in a statement has reiterated that it has recently invested in 8 startup entrepreneurs as part of the activities to mark its new pre-seed funding programme.
The fund has invested in startups, including names like Emitrr, eShipz, Peer Robotics, Helicrofter, BizzTM, Clergo, and SuperBeings. The funded startups were selected through a rigorous process targetted at ensuring that they fit into four basic themes such as the future-of-work, supply chain digitisation across various industries, new commerce models offering experiential services, SMB SaaS, and collaborative robotics.
Axilor Ventures sources have confirmed that the funding will go up to $1 million. At the moment, Axilor Ventures has a commitment of $1.6 million for all these startups.
In a statement credited to V Ganapathy, THE CEO of Axilor Ventures, he highlighted that the current cohort of startups will see a fresh approach to investing from the fund.
“Every startup can get up to $200,000 of funding based on milestones. We start at $50,000 and then go up. The startups are at an advantage because they don’t have to dilute much. They have the mentorship of the Axilor network, and we will bridge the market gap of funding for startups in their early stage.
There is limited follow on capital in the industry, and with us bridging this gap, we believe it will improve the odds of their success,” V Ganapathy, CEO of Axilor Ventures, said.
He added that Axilor Ventures is shifting from the accelerator to pre-seed funding programme while building on the missing ingredient of capital. He also explained that as a founder-friendly institutional capital, Axilor Ventures help startups achieve customer validation and business momentum required to raise their next VC rounds in a timely manner.
Speaking further he made it clear that the company has mentored and funded over 150 startups in various programmes with a special focus on the health sector which is different from the current funding exercise tagged Axilor Labs.
“In the Axilor family, a total of eight startups have raised their Series-A over the last three years. In fact, startups like Pocket Aces and SigTuple Technologies have raised Series-B and Series-C, respectively”. He said.
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