Early-stage venture capital firm Axilor has inducted 20 startups as part of its accelerator programme for the Summer 2017 batch.
Axilor’s structured programme is for founders in the very early stages of their idea, as it comes with a host of benefits. At the end of the 100 days, most startups achieving the programme goals get a funding of $38.87K (INR 25 Lakhs) through Axilor’s Scale-up programme. However, his time, majority of the startups are post-launch and many post revenues. “Some of them need customer access to validate need or scale, a few others would like to figure out the business models and some need help with building the product roadmap and finally funding, in that order. Axilor’s program delivers these,” said Ganapathy Venugopal, Co-founder and CEO of Axilor in a Medium blog post.
He further added, “The institutional capacity to support early-stage startups in India is quite low – whether it is the structured programs to systematically improve the odds of success of startups, the market access that they need in their early days or the angel investment capacity. This has been Axilor’s mission and by doubling the capacity of this batch to 20 startups we have taken one more step to bridge these gaps. ”
Interesting Insights Of The Cohort
- The selected startups are from five sectors – consumer Internet (4), enterprise (6), AI (4), healthcare (3) and fintech (3).
- 80% of the startups are product companies.
- Theb – 9 of the 52 founders are less than a year out of college (some graduating next month) to very experienced folks starting up for the first time.
- While the median years of experience is six years, on an average,two years have been spent working on a problem similar to their startup idea.
- 15 of the 20 startups are from outside of cities like Delhi, Mumbai, and Chennai (signifying the depth of startup talent in other cities).
Meet Axilor’s Summer ‘17 Accelerator Cohort
Detect is a drone data-as-a-service company focussed on helping manufacturing industries ensure asset integrity and proactive monitoring leading to enormous cost reduction. Detect’s solution is currently in use in some of India’s largest oil & gas companies.
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Last-mile logistics is big with an estimated 2 Bn+ annual deliveries by 2020 in India alone. But they are also expensive, manual and error-prone escalating costs and compromising customer experience. Based out of Gurugram, Transporter.city’s SaaS product aims to automate the entire last-mile logistics planning process and helps increase same day delivery output to 95% with 25% lesser delivery fleet and 40% cost savings. It was founded in 2015 by Shailendra Singh and Soumya Arora.
Adya is a SaaS service based on a big data and machine learning stack that helps companies protect their data from employee theft and ransomware – a problem that affects more than 70% of enterprises. It was founded in 2016 by Deepak Balakrishna and Pradeep Das.
Related Article: Axilor Accelerator Opens Startup Applications For Winter 2016 Batch
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