The Morpheus Unveils Stats From The Previous Year and Calls For Batch 8 Applications
In accordance to the Ayn Rand philosophy that the accelerator adheres to, The Morpheus has itself been a prime mover when it comes to investing in early stage startups. The Morpheus invests in companies with a long term horizon of about to 7-10 years with a seed funding of INR 5 lakhs. In the close to 4 years of existence, 7 batches of companies have graduated till now with each batch having a time period of 3 to 4 months.
The Morpheus has revealed data for the first 5 batches:
Here are the details about the companies that have raised funding:
The growth that the accelerator has seen over the past year is also noteworthy. 23 companies have been added in the past year and the valuation has also been seen a spike.
The total revenues generated by the companies have also risen from 10.6 crores in 2010-11 to 12.41 crores in 2011-12. Maintaining a good camaraderie with the other accelerators like the CIIE’s iAccelerator, Vijay Anand’s Startup Center, TLabs and MyFirstCheck, The Morpheus believes in collaboration to move ahead positively.
Not believing in investing in sexy startups, TM is looking at these two themes to invest in:
- Internet in India
- Global opportunities around cloud / mobile / touch / gestures
With these and many such staright forward philosophies in place, The Morpheus has called for applications for Batch 8. Apply here.