IT industry leaders like Mohandas Pai, B V Naidu,J A Chowdary and Mr. Ramakrishna V have come together to set up a seed funding company ‘StartupXseed Ventures‘, to invest in startups working in areas like security, semi conductors and embedded devices.
StartupXseed is a unique programme combined with Seed fund, Strategic support, Market Access, Mentorship and closely supported by the Investor/advisory board of StartupXseed. It acts as a “Co-Founder/Seed Partner” in helping innovation to succeed in the Technology and Technology enabled areas across sectors in India.
StartupXseed will support budding entrepreneurs both at the Strategic as well as Seed level. Fund will focus on High Technology Businesses including Security, Semi-conductor and Embedded Devices.
“Startups often face challenges like low key infrastructure, loosely coupled mentorship, lower investment from angels and lack of exposure to international partnerships and VC partners. It is necessary to build a stronger and holistic system at the seed level which is missing,” StartupXseed Managing Partner B V Naidu told PTI.
Former Infosys Director T V Mohandas Pai has also invested in startups, including GetActive (a wearable technology start-up) and TheBetterIndia.
Naidu said the ATF will invest anywhere between a few lakh to a crore in a venture.
The total fund size is about Rs 30 crore and this will be invested over the next 18-24 months,
“The total fund size is about Rs 30 crore and this will be invested over the next 18-24 months,” he added.
StartupXseed has also partnered with VC players like Aarin Capital and Exfinity Ventures to provide future funding to these startups after they grow to a certain size.