SUMMARY
The Antler India Residency is a platform to help aspiring entrepreneurs find cofounders, actualise startup ideas and raise funding in a span of three months
Out of the 70 entrepreneurs selected as part of the platform’s first cohort, the VC firm has invested in carbon management startup Sangti, healthtech startup Guardians and SaaS startup Motif
Antler also said that it plans to invest $100 Mn to $150 Mn in over 100 Indian tech startups in the next three years
Venture capital firm Antler India on Wednesday (October 19) said that its platform Antler India Residency has invested in carbon management startup Sangti, healthtech startup Guardians and SaaS startup Motif.
Antler India Residency is a platform to help aspiring entrepreneurs find cofounders, actualise startup ideas and raise funding in a span of three months. It selected over 70 aspiring entrepreneurs from unicorns and corporates such as Swiggy, Unacademy, Flipkart, Google and Bain & Company in its first cohort, from which the three startups were selected, Antler India said in a statement.
The average ticket size for the three investments was $270K.
Telangana-based climate tech startup Sangti, founded by Hitesh Bhuraria and Nishant Singh, helps companies with carbon measurement, carbon management, and climate financing.
On the other hand, SaaS platform Motif, founded by Karthik Hegde, Aayush Singla and Udit Chugh, provides real-time demo experience to pre-sales engineers via industry playbooks, contextual nudges, and insights for product demos. It aims to reduce onboarding time, diminish the sales cycle and improve the conversion rate.
Full-stack healthtech startup Guardians was founded by Shubham Jain, Vedant Jain and former Tata-1MG consultant Dr Karan Raj Jaggi. It integrates with hospitals thereby, leveraging on-ground medical support networks via paramedics and ambulances.
According to the statement, Antler India Residency has formed over 15 teams and helped set up over 35 startups across sectors like SaaS, Web3, climate tech, healthtech, mental health, and fintech.
The Singapore-based VC firm also said that it plans to invest $100 Mn to $150 Mn in over 100 Indian tech startups in the next three years.
Antler has offices across the globe including London, Berlin, Stockholm, New York, Singapore and Sydney, and has so far backed over 600 companies globally. In India, it has invested in startups like Flow Club, Humit, and PeakPerformer.
The development comes at a time when the Indian startup ecosystem is reeling under the effects of the ongoing funding winter. According to an Inc42 report, the funding raised by Indian startups declined 82% to $3 Bn in the July-September quarter of 2022 as against $17.1 Bn in Q3 2021.
The average ticket size also fell 54% to $11 Mn from $24 Mn in the third quarter of last year.
