Kalaari Capital has invested $500K in fintech startup, Active.ai. The investment was done as a part of Kalaari Capital’s accelerator program Kstart.
Kstart was launched in February this year to nurture startups via systematic program to fast-track their growth. It invests in startups via convertible equity instruments.
Founded in 2016 by Ravi Shankar, Parikshit Paspulati and Shankar Narayanan, Active.ai – provides a tech platform for banks, wealth managers and financial services companies to interact with customers.
Apart from Active.AI, two more startups raised funding as a part of the program
Affordplan
A tech product for doctors and patients to co-design payment plans for non-emergency healthcare services.
Founded In: 2016
Founders: Tejbir Singh and Hemal Bhatt
Indee
A web video streaming platform that helps film studios and entertainment companies to promote and test their content before releasing it to viewers.
Founded in: 2015
Founder: Sharan Reddy
In February 2016, Kalaari Capital had announced plans to invest about $20 Mn (INR 135 Cr.) in 40 startups over the next two years as a part of its seed and incubation programme.
Vani Kola, co-founder and managing director of Kalaari said, “The three startups that we have picked out from the first batch of more than 40 are all run by relatively mature entrepreneurs. The three fields – financial services, healthcare and online video content management – are all large and the three startups are also at a stage where they require that much capital ($500,000 each).”
Kstart has partnered with a set of distinguished leaders who will be called called Kstart catalysts to advise and guide the startups in their entrepreneurial journey. These catalysts include people like Rajan Anandan – VP & MD SE Asia & India Google, Varsha Rao – Head of Global Operations Airbnb, Ratan Tata – Chairman Emeritus, Tata Sons; Zia Mody– Managing Partner, AZB & Partners; Padmasree Warrior-CEO, NextEV Inc, USA; Muthiah V-Consultant, Spencer Stuart; Anil K. Gupta-Professor, University of Maryland and Meeta Malhotra, Former Partner, Ray + Keshavan. Kstart Catalysts will also be co-investors in the companies.
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