StartupXseed will be Sown in B’luru, H’bad

Bengaluru
A handful of long-time entrepreneurial mentors, such as BV Naidu, TV Mohandas Pai and V Balakrishnan, have launched a . 30-crore fund to invest in ` startups from Bengaluru and Hyderabad under the banner of StartupXseed Ventures.Shield Square received the first official funding from StartupXseed’s Aaruha Technology Fund, which seeks to invest in technology startups focusing on the areas of security, semiconductor and embedded devices. The amount of funding wasn’t disclosed.

“More than the fund, we are glad to receive the strategic value and operational expertise that the people behind this fund can provide us,“ said Pavan Thatha, cofounder of Shield Square that helps companies secure their portals from cyber criminals.

Balakrishnan, the former Infosys finance chief who is also the chairman of StartupXseed, said the fund has brought in a networked incubator programme as well as international relationships and tie-ups for follow-on funding “to ensure our investee companies seamlessly graduate to the next level“.

The fund aims to exit between 18 and 24 months after investing in a startup.

To ensure infrastructure for the ventures it funds, StartupXseed has signed a memorandum of understanding with the incubation centre at the Bengaluru-based International Institute of Information Technology. It is in talks with universities in Israel, Taiwan, the UK and Germany for collaborations. Managing Partner Naidu said StartupXseed will take up the role of both an incubator and a funding institution by not only investing, but mentoring and working along with the startups. “Our partners will go with them for their sale-pitches and help them with their business plans,“ he said.

Pai said this was their attempt to get Indian money into India’s most promising sector. Pai, who jested about the team consisting of old people, said: “It is good in a way to have some grey hair, because when we go and knock on the doors of people to assist the startups, they will meet.“

Source: The Economic Times

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Author:

Neeraj; an entrepreneur & a visionary in the field of Railway, Defense & Automobiles, is a graduate in commerce and a Harvard Business School Alumni. He’s an expert in govt. liasoning & contracting and has an exceptional network & connections at both local as well as global level. He’s an expert in Market Strategy & Planning and has served number of overseas companies as an advisor/consultant. He takes a profound interest in upcoming startups & is very receptive towards ground-breaking ideas & innovations. He likes to brainstorm those ideas and if the values & philosophies matches; he is even ready to invest his resources, serve as a mentor or act as an incubator to futuristic businesses.

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