Startup Incubator 9Unicorns Announces 4th Close Of Its First Accelerator Fund At $50 Mn

Startup incubator 9Unicorns on Tuesday (June 29) announced the fourth close of its first accelerator fund at $50 Mn. With focus on deeptech, B2B SaaS, mediatech, fintech, insuretech, healthtech, edtech,  logistics, its portfolio includes mediatech Toch.ai, revenue-based financing firm Klub, fertility care provider Janani, marketing automation firm ExtraaEdge, audio production automation firm Deepsync, D2C lifestyle footwear brand Monrow, and edtech Qin1. 

9Unicorns typically invests around $150K for 5%-7% equity in idea-stage startups. As of May 2021, it has syndicated over $67 Mn of investments with co-investors such as Sequoia Surge, Titan Capital, SOSV, & Nexus Ventures amongst others.

Commenting on the fourth close, Dr. Apoorva Ranjan Sharma, managing director and founder of 9Unicorns said, “India has truly emerged as the land of the unicorns, which puts us in the right place at the right time! We would add here that we are in the best possible spot to capitalise on the momentum. India is poised to cross hundred billion-dollar companies by 2023 and hence we feel this is the right time for us to conduct our first demo day to showcase some of our innovative startups to global VCs to raise bigger rounds.”

The incubator has committed investments  in 59 odd startups whose combined valuation is pegged at $420 Mn. Seven of the startups have already raised bigger rounds of investments within a range of 1.65X– 4X valuation. The Venture Catalysts (VCats)-backed sector-agnostic fund plans to invest in 150 such startups over the next one year. 

The fourth close witnessed participation from industrialists and businesses including snack maker Haldiram’s, Indian Bank, Ahmedabad-based Chona Family Office, Parakh Foods, Puzzolana Group.

The syndication also includes some of the country’s leading ‘super angels’ such as — Ritesh Agarwal (OYO), Pankaj Chaddah (Zomato), Anand Chadrashekharan (Facebook), Ramakant Sharma (LivSpace), Amrish Rau (Citrus Pay), Harsh Shah (Fynd), Manindar Gulati (OYO), Vikalp Sahni (Goibibo).

The incubator has committed investments in 59 startups whose combined valuation is pegged at $420 Mn. Seven of the startups have already raised bigger rounds of investments within a range of 1.65X– 4X valuation. The Venture Catalysts-backed sector-agnostic fund plans to invest in 150 such startups over the next one year. 

The fourth close witnessed participation from some leading global and Indian industrialists and businesses including snack maker Haldiram’s, Indian Bank, Ahmedabad-based Chona Family Office, Parakh Foods, Puzzolana Group and many other LPs from smaller Indian towns to global cities thus truly democratizing start-up investing. 

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