StartupXseed Ventures LLP, a strategic seed funding company today announced the launch of “Aaruha Technology Fund” with an initial investment of over $4.5 Mn (INR 30 Cr).
The fund will provide end-to-end support to seed-level companies working in areas of high technology business including security, semiconductors and embedded devices.
Founded in June 2015, StartupXseed Ventures is backed by a team of IT pioneers including B. V. Naidu, Mohandas Pai, J. A. Chowdary and Ramakrishna V.
Besides, the seed funding venture will also be supported by like-minded entrepreneurs, educationist and industrialist who intend to support budding entrepreneurs working in line with the country’s current focus on “Make in India”.
B V Naidu, StartupXseed Managing Partner said that startups often face challenges like low key infrastructure, loosely coupled mentorship, lower investment from angels and lack of exposure to international partnerships and VC partners.
“StartupXseed will provide seed fund, strategic support, market access, mentorship and help transform startups into real businesses. It is necessary to build a stronger and holistic system at the seed level which is missing he said”, he added.