100X.VC announces its Class 05 portfolio
Venture Capital fund 100X.VC, that invests in early-stage startups, announced the names of 10 startups selected out of a pool of 4785 pitches for its Class 05.
With this addition, 100X.VC has crossed 60 investments since its launch in December 2019 (Class 01), according to a statement released by the company. The fund, which operates on a cohort based investment model, announced the names on Saturday.
The 10 startups that have made it include QwikSkills, Nooble, SpoofSense, Bebe Burp, Paperplane, ZuPay, Strive, HumblX, WayFr and FilterPixel. They belong to various sectors ranging from Software as a Service (SaaS) and edtech to Fast Moving Consumer Goods (FMCG), fintech and more.
Commenting on this development, Ninad Karpe, Partner at 100X.VC, said, “We have now invested in 60 startups in the country with iSAFE notes. We get to review so many different applications, each idea is unique, and everyone has potential. It is always a hard choice to narrow it down to a limited few. We have now investors, VCs eagerly waiting to hear about our carefully curated list of startups."
He further added that their focus remains to mentor, advice, and guide the founders with masterclasses, and enable them to convert their ideas into bigger businesses.
The sector-agnostic, innovation-led VC firm has invested in each of the selected startups via founder-friendly iSAFE notes. 100X.VC is the first institutional investor that introduced iSAFE (India Simple Agreement for Equity) notes in India back in 2019. iSAFE notes have now become a popular early-stage investment instrument for founders and investors alike.
So far, 100X portfolio companies have created more than 470 jobs in the industry, the fund claims.
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Edited by Anju Narayanan