Friday , 19 October 2018

India Accelerator Raises Angel Round Funding for Expansion

New Delhi, 10th August, 2018: India Accelerator, only GAN partnered, mentorship driven, incubation program in India has raised an undisclosed amount of Angel Round of funding by InvestMind Solutions Pvt Ltd and HotStart Ventures.

With this funding, India Accelerator aims to look forward for more diversification in its offerings, more global reach, participate more at the later stages of startup, offer mentorship, peripheral services and can help startups with the capital to start off the business. After two rounds of successful cohorts, the company has attracted this round of funding.

Invest Mind Solutions is an Indian based investment firm whereas HotStart Ventures is a Singapore incorporated private company which plans to invest in start-ups in South East Asia.

Commenting on the development, Ankit Airon, Partner, Hotstart Ventures, “We see the investment in India Accelerator as a step towards backing the budding talents of one of the biggest Asian economies and the company aims to provide them with a springboard into the Asian start-up scene.”

Speaking about the funding, Pankaj & Neeraj, Co-Founders, Invest Mind Solutions, said, “There’s a lot of support which is given to the early stage companies still it becomes really difficult to succeed. While supporting IA, we are looking forward to support companies which are looking to raise investment.”

IA has successfully completed its two cohorts batches and has mentored various startups through it. Some of the successful startups from the cohorts batches are Kuants, Square1, GalaxyCard, Lawyered, CabBazar, Null Pointer, Insurance Samadhan, Voko and others. For their second cohort batch, IA has invested $150K in the selected start-ups as Seed Funding and they are entitled to receive funds up to $25k to nurture their start-up plan.

Speaking about the funding, Ashish Bhatia, Founder & Managing Director, India Accelerator, quoted, “The best part is that this is not just dumb money; the investors bring a huge amount of network & connect to IA, which will help us progress with the original vision of setting up IA, i.e. to use its resources to continue helping entrepreneurs who are struggling, to have fun and to make money for its investors along the way!”

India Accelerator brings the building blocks for every start-up under one roof by offering mentorship, network, in-house technology, the peripheral services (like legal, financial, Mktg etc.) and finally the seed capital to kick start their business. IA has also expanded its portfolio and has come up with its second co-working space as a separate LOB to help promote community building & collaboration among the Start-up ecosystem by bringing like-minded & passionate people together.

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