Founded in June 2012, IndiaQuotient is an INR 25 crores investment fund that invests in early stage technology backed startups. IQ has companies like ShepHertz, DogSpot, GrabHouse, etc in its portfolio and is in a happy stage of the fund cycle as founder Anand Lunia puts it. The firm is currently raising more funds and is focusing on getting their portfolio companies to the next level. "We have fully committed our first fund, and are now doing deals from our next," says Anand. Alongside, IndiaQuotient has launched #MobileIQ, a platform for early stage mobile startups, with the mission of acting as a catalyst for startups.
The platform aims to be launchpad for startups alongwith providing the initial funding for them. #MobileIQ is a three day event to begin with and is designed on the principle of Learn-Launch-GetFunded. The top team will get on the spot funding of INR 50 Lakhs on a pure convertible note. Talking about the theme, Anand says
By mobile, we don't mean a mobile replica of a website, but a product that takes power to the masses! There is a large mass of people that does not have email ids, does not know writing in English, does not know how to logically search things on google, and does not discover apps on playstore. Finance, Healthcare, Education, Gaming, Social, small biz software., etc all are untapped segments and needs focus.
All applications for #MobileIQ will be curated by IQ's advisory team and selected startups will be informed via mail. Startups have to submit the MVP of their product along with their team details (apply here).
Anand tells us that the best part of their portfolio performance has been- very high capital efficiency of the companies, very strong business models, low burn and focus on tech and thought leadership.
The theme of the next fund will remains the same as before- consumer, technology, India, and the next critical angle is mobile. "When we choose from so many great companies, the valuation we invest at will not matter. The best teams sometimes are able to prove things and raise more money very quickly. We feel the time has come now that the angel stage investors need to look beyond 'valuations' and look more finding the right companies," says Anand.
It is a very exciting time for startups in India and some phenomenal things are happening. Summing up the situation (considering the existing challenges), Anand puts it succinctly,
I have been a startup guy in India for last 15 years and haven't seen so much great stuff happening. Nobody thought e-commerce will work in India, and nobody thought ola/uber will work. nobody thought their 70 year old mom will use internet regularly, that too on a smartphone. The consumers are leading. the founders are quick in finding ways to serve. the investors are somehow keeping pace. Phew, it's an exciting run!
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