100X.VC announces new portfolio of startups, drives investment up to Rs 25 Cr in 2021
Vitra.ai, Accio Robotics, Kerala Banana Chips, BurnCal, Solvio.ai, DCode Care, Cora, SaleAssist, Vecros Technologies, and MicroDegree are the startups selected in the current batch.
Mumbai-based venture capital fund 100X.VC has announced its new portfolio of 10 seed-stage startups as part of its Class-03 portfolio. The startups were handpicked from 1,677 applications, out of which, 303 applicants passed the initial diligence.
The startups are:
Vitra.ai, Accio Robotics, Kerala Banana Chips, BurnCal, Solvio.ai, DCode Care, Cora, SaleAssist, , and MicroDegree.
The 10 startups belong to multiple categories including Artificial Intelligence, robotics, F&B, edtech, SaaS, and healthcare alongside others.
In 2021, 100X.VC will invest Rs 25 crore across 100 startups.
The pitch day saw the participation of over 500 investors, corporate houses, angels, and family houses. The innovation-led VC firm has driven the investments worth Rs 25 lakh to each of the selected startups via founder-friendly iSAFE notes. iSAFE (India Simple Agreement for Equity) notes were launched in 2019 by 100X.VC and have now become a popular investment instrument for early-stage startups across the industry.
Speaking on the development, Ninad Karpe, Partner at 100X.VC, said,
“2021 is off to a good start. After receiving and reviewing 1,677 applications for Class 03, we carefully selected only 10 startups. Each startup has a unique breakthrough idea which has the potential to scale into a globally successful business. These startups can impact India significantly by improving the standard of living and changing our outlook to work and life. For our Pitch Day, we are seeing enormous investor from India and around the world from investors wanting to be part of the extraordinary opportunity offered by these startups.”
The 100X.VC team aims to go beyond funding, and will guide startups from proofs-of-concept to market stage.
100X.VC aims to go beyond mere funding the startups. It will open its network, expertise, and resources and aims to help founders craft a scalable business model. Essentially, it will guide startups from Proof of Concept (PoC) to market stage.
The investment size for each early-stage startup would range from $30,000 to $140,000.
Edited by Kanishk Singh