SUMMARY
With the 10 new investments, 100X.VC has now reached the 80 investment mark
100X.VC will invest in the 10 startups via iSAFE notes that are an alternative to convertible notes used for investments
70 startups that were previously funded by 100X.VC raised around $60 Mn, with individual cheque size between $400K - $500K
Sanjay Mehta-led micro VC fund 100X.VC has unveiled 10 startups that are part of its seventh cohort – Class 07.
For the seventh cohort, the venture fund received 2,488 pitches, shortlisted 454 and after a rigorous selection process narrowed down to 10 startups. 100X.VC will invest in these startups via iSAFE notes that are an alternative to convertible notes used for investments.
Founded in 2019, 100X.VC is led by angel investor Sanjay Mehta’s Mehta Ventures. 100X.VC’s cohort-based investment model was initiated in 2019 with the first batch having 20 early-stage startups. Following this, it invested in nine startups in Class 02 batch; 10 startups in Class 03 batch; 11 startups in Class 04 batch; 10 startups in Class 05; and 10 startups in Class 06.
100X.VC is a SEBI-registered sector-agnostic AIF. Recently, venture capital firm 100X.VC launched an INR 125 Cr fund (over $16.5 Mn) to back 100 early-stage startups in the next 12 months.
For the INR 125 Cr fund, startup applications would be reviewed, accepted and invested on a rolling basis with no deadlines. Investments would be completed through iSAFE Notes within two weeks of startup applications being accepted. It is mulling to invest the amount for 15% future equity ownership in each startup using iSAFE notes.
With the 10 new investments, 100X.VC has now reached the 80 investment mark. Of the 80 startups selected in the cohort-based model, 70 startups have raised a total of $60 Mn with an individual cheque size between $400K-$500K.
Startups That Are Part Of 100X.VC’s Class 07 Cohort
Prior to the pitch day, all the below-listed startups went through intensive masterclasses for four weeks led by industry experts, veterans, VCs, mentors and founders.
- Zerobalance helps customers in managing their personal finance through added control and deep insights
- BugBase is an online cybersecurity platform where ethical hackers host bug bounty programs for startups and enterprises
- Emo Energy is an EV OEM that develops batteries that can be charged in couple of minutes rather than hours
- Helppr helps UPSC-CSE aspirants prepare for the competitive exam via its productivity tools
- Pilk is a D2C brand delivers plant-based milk to customers’ door step
- Kloudmate helps developers create applications on serverless cloud infrastructure
- Quriverse is an online community for Anime fans and influencers
- ToastApp offers QR-based ordering and payment solutions for dining restaurants
- Papa Pawsome offers all types of pet care products on its website
- GoCrow is an app that allows users to open digital escrow accounts. It further secures payment platform and facilitates escrow-based transactions.
