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.
The technology fund by StartupXseed Ventures, Aaruha Technology Fund is registered with Securities and Exchange Board of India (SEBI) as Category I – under Alternative Investment Fund (AIF) Regulations 2012.
The fund will invest an average of few lakhs to crore over the next 18-24 months.
StartupXseed has also partnered with VC players like Aarin Capital and Exfinity Ventures to provide future funding to startups after they grow to a certain size. The seed fund is also inked with incubators in Bangalore set up by IIITB, Dayanand Sagar University and eHealth Technology Business Incubator in PES University.
StartupXseed has made its first investment in Bangalore-based ShieldSquare and will announce two more startup names in coming week.
“We are very excited for the Seed and Strategic Support from StartupXseed. With access to best practices, guidance from industry stalwarts, exposure to International Partners and VC partner connections at the initial stage will definitely help provide a cutting edge to us clubbed with a holistic development. This kind of commitment will help maximize the RoI for future Investors and enable faster time to market,” said Pavan from ShieldSquare.
StartupXseed also announced the MoU’s with leading Incubators in Bangalore set up by IIITB, Dayanand Sagar University and eHealth Technology Business Incubator in PES University.
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