Bangalore, India – August 14, 2009 – Morpheus Venture Partners (MVP) (www.morpheusventure.com) an India based venture firm, which works closely with select startups as a ‘limited co-founder’ announced names of 10 progressive startups participating in Batch 3 of its four month Business Acceleration Program (BAP).With this addition, MVP now has 20 companies in its portfolio.
The uniqueness of this batch is the diversity of the startups - ranging from apparel, financial services, automotive, advertising, robotics & education domains. This is also a step away from the original YCombinator program that was the inspiration to MVP's Partners and focuses largely on web-technology startups.
"India has a lot of unsolved problems that lead to large markets opportunities,” said Sameer Guglani, Founding Partner – MVP. “That's the reason our portfolio is focused on domains like education, health, automotive, apparel, retail, advertising and financial services."
MVP has also expanded its team with Indus Khaitan joining as Partner in May 2009. Indus is a technology evangelist and an entrepreneur with over 10 years of product, technology & operational experience in the Silicon Valley. Indus started Tejit which was acquired in May 2008. Most recently, Indus was Chief Technology Officer of SezWho (www.sezwho.com), a Silicon Valley startup which was sold to JS-Kit (www.js-kit.com) in Mar 2009. "We and all our portfolio companies are very excited to have Indus on board. He brings years of deep technology expertise, experience of building companies in the valley and his infectious passion for startups", commented Nandini Hirianniah – Founding Partner, MVP
Picsean: Aims to be a comprehensive online and offline magazine rack, with content being aggregated from photographers – professional and amateur across the world! At an idea stage currently they are yet to launch. More here http://morpheusventure.com/portfolio/picsean/
ReachTax: Envisioned to be the H&R block of India, they help individuals and businesses manage their finances and taxes. 10% of Small Businesses based out of Chennai, India filed their annual tax returns via Reach Tax in the last financial year. More here http://morpheusventure.com/portfolio/reachtax/
1 shutdown : Moblf (Founders have moved on to other ventures)
Morpheus Venture Partners (www.morpheusventure.com) is a gang of serial entrepreneurs and around 40 startup founders and growing. MVP believes that India’s startups are coming of age and will have a significant impact on economy in the years to come. Via Morpheus Venture Partners (MVP) MVP is trying to make a small contribution towards “India’s startup revolution” and nurture the Intuit’s, FedEx’s, Apples of India. It engages with startups in the most crucial phase of their existence, the first 12-18 months, the phase that is also known as ‘valley of death’. MVP runs a Business Acceleration Program (BAP) for talented, progressive and young startups designed to guide startups through this treacherous phase.