100 X.VC, a Mumbai based fund, backs 9 startups – Fyllo, Mindpeers, Jetsons Robotics, Pracify, Battery Pool, Ava, SharedPro, OurEye, and Sawo Labs.
The venture capital fund has invested Rs 25 lakh per startup and the total invested amount so far is Rs 2.25 crore. It works with growth-stage VCs to prepare startups for bigger rounds. The startups were selected from over 4,500 applications for being disruptive.
Once the startups were selected the startups attended masterclass sessions of industry experts and successful founders. The main purpose of setting up the second batch was to know the startups better; to know in depth about their business model validation, investor relations, terms sheet agreements, and various other key topics.
Ninad Karpe, Partner at 100X.VC said, “This batch have displayed tenacity, determination and perseverance to pursue their vision. These startups traverse diverse sectors with their innovative ideas endeavouring to make our world a better place to live. At 100X.VC, we are confident that each startup of Class 02 is capable of becoming a leader in its space.”
The sector-agnostic fund will focus its investments and funding its funds in companies and startup across a wide range of industries, picking startups with disruptive business models, high growth, and scale. The investment size for each early-stage startup would range from $30,000 to $140,000. The fund size has not been out in the open.
Sanjay Mehta, Founder and Partner at 100X.VC, said: “The time has come for us in India to make a huge leap in investing in startups, using globally successful models that will lend depth and scale to the VC industry. When startups become part of the 100X.VC ecosystem, they will get all that they truly need.”