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9Unicorns announces third close at $40M, commits investments in 40 startups
Built on the lines of Y Combinator, the Mumbai-based sector-agnostic fund plans to write the first external cheque to about 150 early-stage startups in Deeptech, B2B SaaS, Media, FMCG, Fintech, Insuretech, Healthtech, Edutech, and Travel logistics, among other sectors over the next year.
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9Unicorns has announced the third close of its first accelerator fund at $40 million to fund idea-stage startups in India. The third close witnessed participation from global and Indian industrialists and businesses who are bullish on the high growth potential of early-stage Indian startups. Some of the key LPs include snack maker Haldiram s, Indian Bank, Ahmedabad-based Chona Family Office, among other prominent ones.
MumbaiMaharashtraIndiaApoorva-ranjan-sharmaShah-fyndRitesh-agarwalSanjiv-bajajManindar-gulatiAnand-chadrashekharan-facebookVikalp-sahni-goibiboPankaj-chaddah-zomatoRamakant-sharma-livspaceWith 32 deals in its maiden year, 9Unicorns is now India’s top accelerator fund
Akin to YCombinator’s investment strategy, 9Unicorns aims to create Airbnb, DoorDash kind of Unicorns over the next five years
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Even as Airbnb and DoorDash went for massive IPOs last week, their earliest investor YCombinator (YC), came out as a big winner. On IPO, the valuations for Airbnb and DoorDash soared to $100 billion and $71 billion, respectively, indicating stellar returns to YCombinator from these early investments. The startup investment revolution started by YC in 2005 has spread to other major economies, including India, which has also seen the birth of many accelerators and incubators over the last few years. One accelerator that is playing a similar role to YC in the Indian market is Mumbai-based 9Unicorns. It has emerged as a fast-growing and aggressive player with 32 deals in the first year of launch. YC had invested in 24 start-ups in the first year of its launch.
MumbaiMaharashtraIndiaApoorva-ranjan-sharmaShah-fyndRitesh-agarwalAbhijeet-paiSanjiv-bajajManindar-gulatiAnand-chadrashekharan-facebookVikalp-sahni-goibiboPankaj-chaddah-zomato