Nine startups, unfold throughout fintech, client meals merchandise, synthetic intelligence and social community sectors, have come out of early-stage enterprise capital agency Orios Venture Partners’ third cohort of its Misfits programme.
The two-yr-outdated Misfits, which held its first digital Demo Day on Tuesday, is a seed-stage acceleration programme that gives mentorship and funding within the vary of $500,000-$1.5 million to early-stage ventures.
The six-month programme, which usually admits between eight and 10 startups, and operates twice a yr, has, until date, overseen greater than 20 startups graduate since launching in 2018.
Some of the marquee enterprise capital companies which have attended this yr’s Demo Day, embrace Sequoia Capital, Matrix Partners India, Lightspeed Venture Partners, and Norwest Venture Partners.
Additionally, international traders corresponding to Global Founders Capital, Vertex Ventures, the VC arm of Temasek, Picus Capital and ADB Ventures, the newly-established enterprise unit of the Asian Development Bank, additionally attended the digital occasion.
“Orios Venture Partners believes in that building great companies requires great support and one important part of this is Misfits a six-month comprehensive program with our invested startups, that culminates in Expand, where graduates showcase their pitches to next-stage investors,” Anup Jain, managing companion of Orios Venture Partners, mentioned.
“In these cohorts, we address the most common challenges faced by these young startups, that is, scaling up efficiently, hiring the right talent and raising funds. We are proud of the response from 200-plus VC funds received to the latest batch from Misfits-3. It is a validation of the program,” Jain added.
The Misfits-3 cohort, the primary considered one of 2020, contains Karbon Card, a company bank card aimed toward Indian and Southeast Asian startups, and CityCash, an offline transit-based mostly cost ecosystem that permits customers to make faucet-and-pay based mostly funds in public buses, metros and small retail.
Other startups within the newest batch embrace MoneyOnClick, a social distribution fintech lender that gives joint legal responsibility household loans for decrease-revenue households in tier-2 to tier-four cities, who’re, in any other case, pressured to take loans from casual cash lenders, Gully Network Retail, a know-how-enabled chain of small-format kirana shops, and Intelligence Node, an actual-time retail worth intelligence platform.
Seed-stage acceleration programmes corresponding to Misfits have mushroomed over the past two years within the Indian enterprise capital ecosystem, as traders look to go in earlier and deeper, snapping up early-stage ventures at affordable valuations, and initially of their respective lifecycles.
Apart from Orios Venture Partners, different main enterprise capital companies which have launched their seed-stage and tremendous accelerator programmes embrace, Sequoia Capital, Kalaari Capital, Accel Partners, WaterBridge Ventures and YourNest Venture Capital.