100X.VC invests $2.7M in 18 startups for its 12th cohort
With the completion of this cohort, the firm now has a total of 180 investments since the launch of the fund in 2019.
Early-stage venture capital firm 100X.VC on Saturday said it has invested $2.7 million in 18 startups as part if the firm’s 12th cohort.
With the completion of this fund, the Mumbai-based venture capital fund has made a total of 180 investments since its launch in July 2019.
The Pitch Day saw a turnout of more than 400 investors consisting of high net worth individuals (HNIs), family offices, VC funds, and corporations, investing Rd 1.25 crore per startup.
100X.VC is a sector-agnostic firm and invests in a class-based investment model. For its 12th cohort, the firm selected 18 startups out of 304 shortlisted firms from a pool of over 1900 companies. These startups span across eight cities such as Bengaluru, Chennai, Kolkata, Gandhinagar, and Gurugram, among others.
“We are excited to unveil our newest cohort, Class 12, which comprises 18 groundbreaking startups. With these additions, our portfolio now has investments in 180 early-stage startups. In this cohort, our startups span diverse sectors such as B2B SaaS, gaming, RegTech, textile, consumer, and biotech. We are confident that India's early-stage startup ecosystem is brimming with transformative potential, and the startups in Class 12 exemplify these promising opportunities,” said Ninad Karpe, Founder & Partner, 100X.VC.
Some of the companies that are part of the firm’s 12th cohort include chemical manufacturing and industrial biotech startup Cellarim Labs, software-as-a-service (SaaS) company Clodexa, and ready-to-cook startup Currychief, among others.
100X.VC is one of the first venture capital firms in the country that began investing in startups using India SAFE Notes. Simple Agreement for Future Equity (SAFE) document allows startups to raise capital from investors without needing to determine a current valuation upfront, giving the investor the right to purchase equity at a future price during a subsequent funding round.
The fund is sponsored by Mehta Ventures, the family office investment arm of Sanjay Mehta.