SucSEED Indovation Ventures brings ₹100 Cr Angel Fund, to invest in Tech Innovation for Mass-needs, with external support from IIIT-Hyderabad

• Indovation, a Fund to back India Innovation to support needs of masses
• Indovation, a Fund backed by active investors-mentors, involved in Technology & startup eco-system 
• Indovation, a Fund which grew out of partnership between SucSEED Angel Network and IIIT Hyderabad Foundation, to focus on early stage start-ups 

SucSEED Indovation Fund received licence as Angel Fund in the Category 1 AIF from market regulator SEBI. The INR 100Cr fund, sponsored by a group of active investors-mentors to nurture tech innovation and back early stage Tech start-ups engaged in solving problems of masses, using emerging deep-tech innovations.

SucSEED Indovation Fund has grown out of SucSEED Angels Network and IIITH Tech Ventures, an early stage tech seed initiative with IIIT Hyderabad Foundation. It is sponsored by serial angel investors, mentors, industry leaders and people closely associated with the startup ecosystem for a long time. The Fund sees a team of proven leaders in tech & entrepreneurship, venture capital investment, risk management, funds and transaction management, joining together for the sole purpose of bringing tech innovation to the market.

Fund will work towards strengthening angel investment landscape by bringing institutional investors, family offices, HNIs and upper middle class retail investors to actively participate in startups’ growth while at the same time also provide start-ups with a comprehensive umbrella network for all their requirements.

Vikrant Varshney, Co-founder & Managing Partner of Fund said, “The fund will work very closely with technology incubators like CIE-IIITH, T-Hub and many more. Primary focus of the fund will be on Tech Innovatiins in EdTech, FinTech, Health-tech, Enterprise SAAS & B2B, Security & RegTech, Digital Economy & Smart City sectors. The Fund will help portfolio companies strengthen their product offering, go-to-market strategy, and build high levels of governance and transparency so that they progress to become category leaders. We will drive investments in seed to pre-series A stages and initially invest in about 20 start-ups on an annual basis before rapidly increasing the scale of our operations and impact.

Dhiraj Kumar Sinha, Co-founder of the Fund said “Today’s startups are tomorrow’s legendary companies and SucSEED Indovation Fund would focus on finding passionate and focused entrepreneurs and supporting them to find capital for building innovative tech solutions, solving problem for masses and scalling their businesses quickly.

J. A. Chowdary, Co-founder of the Fund said “We will focus on the early-stage Tech ecosystem and support the ‘Atmanirbhar’ and ‘Digital Economy’ initiatives & solutions meeting needs of B2C sutomers as well as initives of Corporates & Governments.

The fund will focus on Indian startups and help the India growth story. Previous extensive experience of working with Angel community has provided the insights that will help in discovery of good startups and develop the best ways of guiding portfolio companies towards their goals using mentoring prorgrams. The experience and expertise of the Fund founders will immensely benefit the entreprenuers who struggle at early stages of their enterprise. The fund is expected to play a significant role in building an ecosystem for the deep tech-startups.


SucSEED Indovation Fund has grown out of SucSEED Angel Network and IIITH Tech Ventures, an early stage tech seed initiative by IIIT Hyderabad Foundation. Its sponsored by serial angel investors, mentors, industry leaders and are closely associated with the startup ecosystem for a long time. The team of proven leaders in Tech & Entrepreneurship, venture capital investment, risk management and funds and transaction management, joined together for the sole purpose of bringing tech innovation to the market.

While SucSEED Angel Network was already supporting early stage investments, but investing through Fund will bring in funds through a single entity in the cap-table of start-ups and additional focus on Sectorial research, professional handling and enhanced investor reporting. Being SEBI registered also ensures that investments done by Fund would meet governance and compliance standards for the investors.

The Fund will invest in three Buckets -


1. Bucket A - Seed Fund - 15-20% of Investible Amount – towards Early / Seed Stage ranging between Rs 25 lacs - Rs 50 lacs investment per startup.

2. Bucket B - Growth Capital - 40-50% - towards Growth Capital ranging between Rs 60 Lacs - Rs 2crore investment per startup,

3. Bucket C – Pre-Series/ Bridge Round - 30-40% - towards Follow-on Capital or joining Pre-Series A investments ranging between Rs. 2Crore -7 Crore investment per startup

Contact: For further information on SucSEED Indovation Fund, please contact: The Content Team of SucSEED Ventures, Hyderabad. E-mail: info@sucseed-indovation.com Linkedin, Twitter , Facebook, website


About SucSEED Angels Network

SucSEED Venture Partners, founded in 2016, runs SucSEED Angels Network, one of the fastest growing Angel Networks, with a combination of more than 130 CXO level Corporate Professionals, Technology Angels, Business Leaders and Serial Entrepreneurs, who have come together to fuel the growth of Indian Startup System at early stage, with provision of growth capital, organizing access to market and Business mentoring. SucSEED’s Investment Strategy is primarily targeted at Growth stage in post revenue startups involved in “Innovation for Masses” or Use cases with real problem statements using emerging Technology.


SucSEED has been investing in diverse domains as listed below, but also open to support wider innovation and businesses. SucSEED Ventures facilitates raising seed funding through Angel investments and provide support towards Venture Capital to such entities and teams.

SucSEED Invests in 6Degree, A Fashion Commerce & Retail Management Platform

SucSEED Ventures invests into Protinus Fashion Networking Pvt Ltd, to expand its horizon into Fashion Commerce & Retail Management Platform segment. SucSEED invests in 6Degrees through this Pre-Series A round, whereas Kieretsu Forum had invested seed capital earlier. 

6Degree is India’s largest fashion network with over 15,000 professionals and home to over 4,000 fashion designers. The company also has long standing partnerships with over 100 multi-brand stores and leading fashion platforms such as IMG Reliance, Lakme Fashion Week, Fashion Design Council of India and several esteemed names, playing host to leading names such as Rohit Bal, Tarun Tahiliani, Manish Arora and many others. 

Nikhil Hegde, Co-Founder of 6Degree said, “6Degree has constantly been working in the affordable luxury market for the emerging fashion designers. With large base of designers & fashion professionals on the 6Degree network, there has been a need to leverage this asset and enable growth to the local talent and engage with customer across the globe. 6Degree has strong existing partnerships and have been able to add business value to over 500 emerging fashion designer brands by giving them access to national and international markets. We have also launched www.6Degree.store to provide the fashion-conscious consuers access to limitless styles from homegrown designers and at affordable prices ” 

Talking about the company plans to utilized the funds Nikhil Hegde said that 6Degree will now be able to move quicker and bring about a democracy in styles to consumers and support local designer talent in becoming strong national & global brands. 

Speaking on why they have invested in 6Degree, Vikrant Varshney, Cofounder & Managing Partner, SucSEED, said “The Indian fashion retail industry is about $100 Bn, with the global market in excess of $3Tn. There are over 700,000 homegrown designer brands in India who seek to retail in over 75,000 single brand & multi-brand store network. In addition, each year, there are over 25,000 fashion students who graduate and a large section of them go on to start their own homegrown brand. Our Investment into 6Degree would help them achieve a dominating position in that space and organise the market. 

Dr.Moti Vyas, an active Investor with SucSEED, said "6Degree has the vision to transform fashion industry, as it provides an end to end platform for fashion industry participants with a digital technology infrastructure. It works to eliminate overheads, improves efficiency, provides transparency, fair marketplace for new players and above all world class customer experience at an affordable price point. 

Speaking on this investment further, Dhiraj Sinha, Cofounder & Partner, SucSEED, said “6Degree aims to democratize the fashion industry for India's middle class. The company is led by the passionate duo - Nikhil Hegde and Amit Bhardwaj with global fashion industry experience and a vision to 'make a difference'. We take pride in our association with 6Degree”. 

6Degree (http://6degree.co) was started in 2015 by Nikhil Hegde and Amit Bhardwaj, with a vision to bring the unorganised fashion industry to one platform and through this, democratise style for consumers. Today, 6Degree provides every stakeholder in the fashion industry with a opportunity to grow their business – either through service opportunities or product sales. Designers now have access to newer markets, nationally and internationally through 6Degree Retail Platform (https://www.6degree.store) while fashion service providers can now be discovered by leading brands through India’s largest fashion network – 6Degree. 

Problem(s) that 6Degree is addressing: 

• Fashion is always perceived to be a consumption for the rich class, however, most people have an aspiration to be fashionable. Bringing customized and affordable luxury-wear to consumers from homegrown fashion brands. Stylish products at affordable prices always seek new markets and consumers from the growing middle class population of India. 

• Homegrown fashion designer brands stuggle to establish themselves on a global scale. 

• Provide business and job opportunities for fashion professionals through India’s largest fashion network – 6Degree Network. Fashion service provides can now have access to jobs and opportunities without a middleman and payment guarantees. 

Solution: 

• 6Degree has launched its propertiary retail management solution that provides designer brands with a single platform to grow and manage their business across all online and offline sales channels. 6Degree manages over 200 designer brands via its unique retail platform and provides access to new markets & consumers. 6Degree Retail Management now allows homegrown brands to go digital-first while still providing them with retail opportunities in physical stores through its large store-partner network. 
• One of the largest industries of India is built by local fashion designers & homegrown brands and 6Degree now enables the VocalforLocal campaign by scaling these homegrown brands to national and international markets. 
• 6Degree Network allows fashion and lifestyle brands to tap into the growing fashion talent community to be discovered and find fashion jobs. Leading corporate & lifestyle brands have leveraged the 6Degree Network to take their campaigns viral over the digital domains. 

About the market Potential in the space
The Indian fashion retail industry is about $100 Bn, with the global market being in excess of $3Tn. Having one of the largest youth population in the world, global and homegrown brands see India as a greenfield opportunity in the fashion segment. There are over 700,000 homegrown fashion designer brands in India who seek to retail in over 75,000 single brand and multi-brand store network. In addition, each year, there are over 25,000 fashion students who graduate and a large section of them go on to start their own homegrown brand. 

The Founders: 

• Nikhil Hegde | https://www.linkedin.com/in/nikhilrhegde/ 
• Amit Bhardwaj | https://www.linkedin.com/in/amitbhj/ 
• 10 years in risk consulting and telecom industry, worked for companies like Subex, Airtel, Tata Teleservices and KPMG MBA from University of Leeds | University topper for MBA 

SaaS-based Real Estate Sales Platform, Uniplatform Tech Raises Funding from Frontline Strategy, SucSEED Venture

Uniplatform Tech, a technology enabled B2B lead multiplier platform that runs a real estate SaaS platform called MultiplyMyLeads.com has raised an undisclosed amount from Frontline Strategy Funds, SucSEED Venture Partners LLP and other investors. The funds raised will be utilized for the expansion in New Delhi.

Rohit Manghnani (MBA from FMS), Amit K Jaiswal (B. Tech from IIT Kanpur) & Iccha Manghnani (PGDBA from XLRI) started Uniplatform Tech in 2015 to focus on scalable technology that can dramatically alter the way traditional real estate sales are conducted

According to Atim Kabra, Managing Partner at Frontline Strategy Funds, “The face of the real estate sector in India is evolving dramatically with technology transforming it’s every facet. The move towards online market places will accelerate as digital marketing integrates deeply with the traditional network marketing”.

“Uniplatform Tech’s ability to provide technology enabled real estate sales engine will be critical in transforming the real estate industry roadmap”.

“Over the last two years, UniPlatform Tech has been seeing high growth in user traction to emerge as the platform with the highs number of real estate B2B participants in the pilot city. And that too with profitable units economics.. With this new investment from our investors, we aim to increase the size of our team and do a pan India roll-out,” said Rohit Manghnani, Founder of Uniplatform Tech.

MultiplyMyLeads.com solves the pain point of lack of a single platform for real estate property brokers, property developers and builders to connect to customers on multiple websites and social media channels through its broker facing online platform. Unique leads from multiple sources such as real estate websites, offline sources, social platforms are aggregated, collated, updated in a smart CRM with intuitive features of Truecaller. It is currently operational in Hyderabad and looking to be soon launched in Delhi. The Platform is accessible both on website and on Android app. The platform beings 15,000 unique customers every month to its 5000+ Active Brokers. It has a unique ML & AI based WhatsApp integration because of which it would also power Facebook Marketplaces in the near future.

Uniplatform Tech also runs LoanAlexa.com where an in house tele-calling team reaches out to the existing customers and assesses their requirements for Home Loan, LAP, BL or Personal Loan. LoanAlexa.com offer home loans and it has partnership with 42 Banks/HFCs. Loans can be provided for properties with deviations on LoanAlexa and also to borrowers with all kinds of profiles. It offers 392 unique products in the space. Uniplatform also powers content on Dainik Bhaskar group owned HomeOnline.com and other similar websites.

About Frontline Strategy Funds

Frontline Strategy Funds is a Private Equity platform providing growth capital and expertise to businesses primarily focused on India and South East Asia. Incorporated in Mauritius in 2000, Frontline Strategy Funds group serves as an accelerator that fuels growth oriented companies. FSF focuses on Pre Series A growth companies.

Tejas Networks, Simbus Technologies, Astra Microwave Products, CBay Systems, Third Wave Power, Versafleet, Uber Diagnostics are/have been a part of Frontline Strategy Funds’ portfolio. FSF also holds a stake in 2Point2 Capital.

Sports Discovery App Sportido Raises Funding led by Inflection Point Ventures and SucSEED Venture Partners

Noida-based Sports discovery app Sportido secures its second round of funding led by Inflection Point Ventures and SucSEED Venture Partners

Sportido, a sports discovery platform, seeks to solve the problem of majority of India’s urban adult population who want to play a sport but find it hard to gather people or lack access to good sports facilities. Sportido helps its users connect with like-minded people nearby and book venues online to play their sport. The start-up also provides its partner-venues with a facility management app (called ‘Charge by Sportido’) that enables them to track bookings and manage their customers and inventory. 

Founded by Neeraj Aggarwala (who had previously co-founded Easypolicy) and Akhil Ramachandran, Sportido aims to grow the ecosystem for sports and fitness enthusiasts. According to Neeraj, “The entire ecosystem is growing rapidly to cater to the increasing demand for Sports and Fitness. We have witnessed a 7x growth in the number of Sports facilities in just the last 3 years and Sportido’s platform helps us sit in the driver’s seat of this ecosystem.”

Since its previous fundraise in Oct 2018, Sportido has grown to 5 cities and their monthly sales have grown over 30x. Akhil Ramachandran mentions that “this growth is primarily due to stickiness of users and high repeat transactions. The average user has transacted 7 times in the last 6 months, which gives us a very high customer lifetime value.” On funding from IP Ventures Neeraj says, “This new round of investment will help Sportido in product enhancement and expanding to new cities.”

[caption id="attachment_139031" align="aligncenter" width="1024"] Neeraj Aggarwala[/caption]

IP Ventures angel investor Mayank Jain, speaking on his investment in the start-up said, “Sportido is doing an amazing job in making these facilities accessible and developing the ecosystem so that it’s easy for common people to pursue sports. Sports is necessary for physical and mental fitness and a must for society as a whole.” Further, upon his experience with IP Ventures he expressed, “IPV has been a great learning experience for me. I’m impressed by the professionalism and approach in identifying, selecting and mentoring start-ups."

A combination of social networking and service-aggregation, Sportido helps its users discover places to play any sport with like-minded people around them, explore new sports, participate in events, and even find deals on clubs and gyms nearby. 

The app also enables its users to create their own event and invite participation from other users nearby who are interested in the same sport. The Company’s mission is to inspire healthier and happier communities by helping them rediscover the joy of Sport.

IP Ventures was founded in 2017 by a group of accomplished CXOs who come with rich experience in the start-up ecosystem, either as co-founders themselves or by leading their organizations through various stages of funding. Their expertise lies not only in financial aspects such as private equity and venture capital but also in business strategy, expansion and risk mitigation.

SucSEED Invests in P2P Lending Startup i2iFunding through Follow-on Funding

SucSEED Venture Partners have invested in RNVP Technology Private Limited  (known as i2iFunding), an RBI registered leading Peer to Peer Lending platform in India which verifies and matches borrowers looking for unsecured loans with interested lenders. 

i2iFunding provides affordable unsecured loans to borrowers such as people with no credit history, small businessmen, self-employed personnel, grade 4 government employees, newly employed salaried personnel, and many others who are not serviced by banks or NBFCs. i2iFunding has disbursed loans of value more than Rs. 36 Crores and has crossed monthly disbursal of Rs. 4 Crores. i2iFunding had raised more than $1 million so far.

Vaibhav Kumar Pandey, co-founder of i2iFunding, said, “Majority of India is still credit starved as it lacks traditional data which banks use to provide loan. As a result, these borrowers resort to expensive informal credit or have to disclose their requirements to friend / family for financial help. They end up in debt trap or get embarrassed or both. i2iFunding have now developed strong understanding of such borrowers and have come-up with technology based customized solutions to cater to each borrower segment using alternate data. We think that we have now reached the inflection point and are in position to replicate our solution on much larger scale by increasing our outreach.”

“We are grateful for the immense confidence which SucSEED has shown in the business. From January 2018, when SucSEED had previously invested, i2iFunding has grown more than 8x. This round of funding led by SucSEED will help us to leap forward and cement our position as the leader in peer to peer lending space. We expect to achieve further 5x growth over the next year and also become profitable on the back of our strong unit economics. We are also in discussions with fintech marquee investors to raise Series-A funds”, added Vaibhav.

Ajay Kalhan, an Active Investor with SucSEED and who have been representing SucSEED on board of I2iFunding said “Looking at the performance of i2iFunding over last 18 months, our Angel Investors felt excited to lead the follow-on investment round with them. Infact, this is our largest investment in any startup so far and we are excited to back i2iFunding with our full support”

Vikrant Varshney, Cofounder & Managing Partner of SucSEED, said “With Investments in Paymatrix, Insense, Stockal and i2iFunding we have penetration in Payments, Card Analytics, Wealth Management and P2P Lending space in FinTech sector. This gives us unique opportunity to help fester collaborations amongst all the FinTech Startups to create a unique value proposition for the Financial Sector”.

Edtech Startup LetzConnect Raises Pre-Series A Funds from SucSEED Venture, Obopay Mobile

LetzConnect state of the art platform enables users to communicate, showcase, learn and share within the ecosystem, has raised undisclosed amount in its Pre-Series A Fund-raise round was led by SucSEED Venture Partners and co-led by Obopay Mobile technologies & Japanese Investor Syndicate.

Praveen Ganesh, Founder of Letz Connect Technologies says, "Our aim is to provide academic support to students and help them improve their chance of employment by making them more employable. The first step for us is to get the student with us, which we do by providing them reading material and connecting them with a network. Once that happens, our AI enabled platform tries to understand a student’s choice, likes and dislikes and needs, to provide him/her contents and courses accordingly."

Praveen further adds that “SucSEED has helped LetzConnect build the network of Industry experts who will be helping in building the right strategies from the market perspective. As part of the AICTE rollout, LetzConnect is presently being integrated across all technical institutions in the country. This round is very useful for the various scaling efforts and in building a sophisticated AI block within our ecosystem.

LetzConnect is an educational networking portal that offers 'knowledge connectivity' to students and faculty. It is a unique and collaborative platform, which empowers the youth by bringing them closer. LetzConnect helps students enhance their knowledge base and interact effectively with their faculties and fellow students. In addition, the inbuilt AI (Artificial intelligence) helps the students to realize their core potential, explore real-world opportunities and enrich their career as a whole.

Speaking on why SucSEED has invested in LetzConnect, Sai Sundaram, an Active Investor, with SucSEED, said "The need of the hour is to improve the employability of our youth studying in our institutes and leverage technology to enable them to meet both their potential and aspirations. LetzConnect through their platform enables students, faculty to collaborate and learn across institutional boundaries and gain knowledge, and access to opportunities. We are excited by the potential of LetzConnect and its vision and look to work closely with them to achieve upcoming milestones."

SucSEED has been investing in Fintech, Edtech, Real-estate Technology, HR Tech & Expert Network, Enterprise SAAS, Analytics space primarily, but also open to support in other areas. SucSEED facilitates & raise seed funding through Angel investments and provide support towards Venture Capital to such entities and teams. SucSEED has earlier invested in OckyPocky, XploraBox, and SRJNA. With investment in LetzConnect, SucSEED completes the lifecycle from K-12, STEAM to College for the Edtech Sector and beyond.

Ajay Kalhan, an Active Investor, with SucSEED, said “Besides connecting students, faculty and providers with the content relevant to students, LetzConnect with their AI based platform allow organizations to connect, train and hire students as part of their social responsibility program. This in turn provides employment and future to the students in much need of help and that to SucSEED is the biggest game changer for any platform”.

Vikrant Varshney, Cofounder & Managing Partner of SucSEED, said “With LetzConnect investment SucSEED now has a full range of investments in Education Sector starting from KinderGarten to K-12 to College. This gives us unique opportunity to help fester collaborations between the start-ups like OckyPocky, XploraBox, SRJNA and LetzConnect to create a unique value proposition for the Edtech Sector"

Media Tech Firm Leadstart Publishing Raises ₹3 Crore from SucSEED Venture Partners

Leadstart Publishing, a media-tech publishing house, distributor, and rights agency platform, raises funding from SucSEED Venture Partners, Hyderabad based Angel Investment Network. This Pre-Series A Fund-raise round of Half a Million USD (more than INR 3 Crore) was also co-invested by Mumbai Angel Network & JITO Angel Network.

The Mumbai based firm, founded by Swarup Nanda, will be using the funds to scale operations, develop technology, and focus on customer acquisition.

Recognized as India’s largest book distribution network and named as the ‘fastest growing publishing company’ by The Week magazine, Leadstart has 10 brands and publishes over 200 titles a year, with imprints and products in all major book categories. Several of their authors have won major literary prizes such as the Padma Bhushan, Sahitya Akademi Award, Vodafone Crossword Awards, various State literary awards and the Jnanpith Award, as well as regularly being long listed for other awards including the Man Asian Literary Prize.

Commenting on the fund raise, Swarup Nanda, CEO & Founder – Leadstart Publishing said “ It was an excellent experience working with SucSEED, which has an investor base of senior techies, accomplished professionals and entrepreneurs. Their process time was the shortest and evaluation of the product the deepest. It was an absolute pleasure working with them. We look forward to deeper engagement with our investors for advisory and mentoring support as well. We shall be using the funds to scale up operations, develop and deploy tech, along with customer acquisitions.

Speaking on why SucSEED has invested in LeadStart Publishing, Saurabh Sharma, an Active Investor, with SucSEED, said “Leadstart Publishing is utilizing technology driven, just-in-time printing, improvements in the content based on reader feedback and a unique approach to DIY for authors to self-publish.”

“They bring in novelty of idea, uniqueness and a network of smart, passionate team that wants to bring art and literature with improvements in the readers hands!”

Vikrant Varshney, Cofounder & Partner, SucSEED, said “ Leadstart Publishing features distinguished authors and writing from across the globe. The number of books published is over 950 from 800+ authors as of May-2019. They are targeting to publish 2300 books in this fiscal year. We see them playing a big role, considering content is emerging as Key for Publishing, entertainment and OTT Sector. Leadstart has had initial success and this funding could help them achieve sustainable revenue streams too”.

Operating in the Media-Tech space, Leadstart Publishing's existence is to help individuals make commercially viable creative products and connect them to the world market. They are beginning with Books; and in the process of doing so, make available the widest range of products which empower thinking, educate and entertain, in addition generate worldwide employment opportunities in a work place free working environment.

The company enables individuals to create, market, and sell creative products and services globally, thereby bringing literature and art to people. Their integrated platform allows authors to self-publish globally in multiple languages, using technology for creation, providing enhancement and distribution of content to a wider audience such as studios, OTT platforms, or adapting to video formats, by re-imagining content discovery, and bringing reader recognition.

SucSEED Venture Partners Invests in XploraBox, An Educational Subscription E-Commerce Startup

SucSEED Venture partners has completed an Angel investment into New Delhi-based Imagismart Solutions, which runs an educational subscription activity box company for learning through play in children under the brand name Xplorabox. The investment round was led by Green Shoots Capital. Metaform Ventures LLC, JITO Angel Network, SWAN Angel Network, Group of Angel Investors also invested in the firm.

Xplorabox was founded in August 2015 by husband-wife duo Rishi and Shweta Das, along with two other co-founders — Dhirendra Meena and Rishabh Gupta.

Xplorabox is as an educational subscription e-commerce start-up designed to engage children in activity-based learning programmes. It focuses mainly on children aged between two and twelve and aims to promote ‘Learning Through Fun’ with its innovative products, fun stories, and educational activities each of their boxes. The company has served more than 50,000 customers and dispatching kits to over 500 cities every month.
As per Rishi Das CEO “On an average, children are spending over 3 hours every day in front of screens, this is having a huge impact on their brain development, more and more parents are becoming aware of this problem and are looking to introduce their children to physical activity based learning tools. Xplorabox provides fun, learning and boost essential developmental skills of the children”.

“Xplorabox has helped 30% reduction in screen time, 20% increase in parent-child bonding time and 90% of the parents have reported an improvement in their children’s learning skills” said Rishabh Gupta, Chief Revenue Officer an IIMC alumni

Dhirendra Meena, CTO mentioned “We are also working on some very exciting products and are targeting to launch it in next 9-12 months. These will cause massive disruption in the industry and will be loved by parents and children alike as these are being developed based on solid feedback from thousands of parents.”

“Xplorabox targets ARR of INR 100 Cr within next 3 years”

The startup plans to use the funds to scale up rapidly, and establish overseas presence beginning with North America and Gulf Cooperation Council (GCC) countries.

Speaking on why SucSEED has invested in XploraBox, Vikrant Varshney, Co-Founder and Managing Partner of SucSEED Venture Partners, said “India's accelerated development needs rising middle class and minds which are trained for fast-changing future. Xplorabox fills this future need of India's young minds, by providing physical activity-based learning tools. This ensures that kids have reduced exposure to screens and helps improve children learning skills. We see immense potential in XploraBox and team to immerge as a leader in the segment, with their constant product innovation"

Speaking on why he has invested in XploraBox, Moti Vyas, one of the SucSEED investors, said "SucSEED Ventures has invested in many EdTech ventures. XploraBox fits nicely in SucSEED's EdTech portfolio with complementary offerings. Its members' deep knowledge base and industry experience will guide/mentor Xplorabox in their journey to success. Xplorabox mitigates the adverse impact of the digital technology revolution with hands-on learning away from screens. Xplorabox activities kits encourage participation by family and friends thus creating social bonds."

Market Potential in Educational Subscription Activity Box Segment

There are more than 300 million kids in India in our target age group and another 15 million are getting added every year. We estimate the Total Addressable Market for activity-based learning kits in India to be at least USD 4 billion. And this is just in India – with a much larger customer base the global market is estimated to be over USD 20 billion. Add to this the potential to cross sell any other kids products and the potential to sell to a customer for up to 10 years once the relationship is established and you will start to see why we and all our investors are so excited about this opportunity.

Online Rent Management Platform Paymatrix Raises $100K from SucSeed Venture

Hyderabad-based online rent management platform, Paymatrix has raised $1,00,000 (~ ₹70.5 lakhs) as part of its Pre-Series A round targetted at $1 million, from SucSeed Venture Partners, a Hyderabad-based investment firm. Its existing investors include Xseed Venture Partners, Indian Institute of Information Technology (IIIT), Hyderabad seed fund and IIIT-H Foundation.

The startup had earlier raised an undisclosed amount from IIIT-Hyderabad Seed fund, in December 2017, and has been a part of India's largest startup accelerator T-Hub and had also made to PayPal India’s accelerator program in 2017.

Founded in April 2016 by Mukesh Chandra Anchuri and Muralidhar Naik Guguloth, Paymatrix is an analytics-driven interface which streamlines the property rent management process for tenants, landlords and property managers. Additionally, the platform also facilitate digital rent documentation, tenant screening services and Renter's insurance all of which enable hassle-free renting or leasing.

Since its inception the startup has evolved by combining all its offerings into one SaaS-based product, which is an end-to-end rent management platform that helps tenants and landlords with compliance, risk management and financial management. The platform also helps property managers unique insights on improving their rental-yields and RoI.

The platform manages the entire lifecycle of the tenant-landlord relationship. Under compliance management, it handles tenant profiling and benchmarking and creates digital rent agreements. Under financial management, it lets tenants make rent deposit payment on credit card, offers EMI-free loan for rent deposit and offers features such as rent in advance and rent discounting. Under risk management, it offers renters insurance, landlords’ insurance, rental management for PGs/hostels and property managers.

Apart from tenants and landlords, Paymatrix clients include property managers, co-living spaces, PGs, hostels, etc, which get the company's offering on a subscription basis and in return the startup gets the tenants as a package.

With presence in over 18 Tier-1 and Tier-2 cities in India, Paymatrix claims to have over 13,000 registered tenants and landlords, and over ₹ 22 crore of rental transaction turnover.

Paymatrix, which is an incubatee company of Axis Bank’s Thought Factory, is targeting an annual revenue run rate of $1 million by 2020, which it hopes to achieve by growing 7X and reaching out to 100,000 customers.

The co-founders of the startup are alumni of Birla Institute of Technology (BIT). Anchuri (Founder and CEO, Paymatrix) is a chemical engineer from BIT and an MBA from SPJAIN and has more than 4.5 years of experience working with Indian Oil and Infiniti Research in the realms of Sales, Business Development and Consulting. Guguloth (Co-founder and CTO, Paymatrix) which currently handles product design and development, has earlier worked as a lead developer with IBM and IGATE for more than 5 years, before venturing with Paymatrix.

About SucSEED Venture Partners, it is one of the fastest growing Angel Network, with a combination of Corporate
Professionals, Technology Angels, Business Leaders and Serial Entreprenuers, who have come together to fuel the growth of Indian Startup System at early stage, with provision of growth capital, organizing access to market and
Business mentoring. SucSEED’s Investment is primarily targeted at Growth stage in post revenue tech startups involved in use cases which are impactful to society using emerging technologies. SucSEED network comprises of
professionals and entrepreneurs who extensively mentor the investee startups and investors who are senior industry leaders with extensive domain

SucSEED has so far made three investments including one in September this year where it has contributed in the funding round of SRJNA, a Jaipur based startup helping schools to integrate hands on, affordable and turnkey STEM solutions in their regular curriculum by setting up and facilitating Innovation and Tinkering Labs.

Source - The News Minute