Times Internet’s startup accelerator TLabs has expanded its program to Bangalore. The accelerator will be offering a larger amount of initial capital and establishing a presence in Bangalore.
In past 3 years, TLabs had 6 batches and have accelerated over 36 total startups of which more than 60% of startups have raised on average $450k in follow on funding.
Starting in January, TLabs will offer its accelerator program out of Delhi / NCR and Bangalore. In addition to expansion, TLabs has also increased the amount of capital it will invest in each startup to $50000 which means now the valuation offered to each startup will range from INR 3.5 Cr.– 4 Cr. It will also allow startups to syndicate the first round with TLabs being a lead investor in the funding process.
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Abhishek Gupta, head of TLabs, said, “TLabs has always been a startup, learning and evolving its business model. We are entrepreneur friendly, and we want to work with world class teams to build the next big business together. With the expansion and funding increase, we can work with more evolved startups, and we can offer them more help to reach their goals.”
CEO of Times Internet Satyan Gajwani said “We started TLabs to help foster a stronger entrepreneurship ecosystem. In the last 3 years, we’ve helped 36 new companies get formed and chase their dream. As we look forward, we want to play a larger part in creating “Digital India”, and we want to enable more entrepreneurs to drive our digital revolution.”