Early-stage venture capital fund advantEdge Partners has selected two companies, health-tech firm Ango Health and ed-tech startup Unanth, for its six-month incubation programme, the company said in a statement.
As part of the programme, the VC firm will invest up to Rs 15 lakh in each startup in exchange of 5-8% equity. The firms will also receive various services from IBM, Amazon, Zendesk and Razorpay, with whom advantEdge has partnered with.
“Anglo Health and Unanth both demonstrated a fantastic value proposition and we are glad to have them join our programme. Both of them are looking to create a meaningful and long-lasting impact in their respective areas and we are committed to help them accelerate their growth,” said Kunal Khattar, general partner at advantEdge Partners.
Gurgaon-based Anglo Health Pvt Ltd offers expecting mothers a personalised pregnancy management platform to ensure they receive quality care. The startup was founded in April 2016 by IIM Lucknow alumni Neeraj Saini, Dheeraj Arora and Srinivas Krishnamurthy.
Singapore-headquartered Unanth Technologies Pte Ltd is a vernacular online IT learning marketplace targeted at engineering students and software professionals, allowing them to upskill themselves in their native language. The company was founded in 2016 by Kishore Reddy, an engineering graduate from the University of Liverpool who has worked in quality assurance and Rajendra Uppal, an alumnus of IIT Delhi who has held previous stints at Delhivery and Adobe.
advantEdge launched its incubation programme for startups in December 2016 and plans to incubate 30 startups over the next two years.
In January this year, the Noida-based firm appointed Ridhish Talwar to head its newly-formed incubator programme.
advantEdge Partners has invested in 18 startups such as Rapido, Shuttl, TrulyMadly, ScoopWoop, IndiaLends, Smartivity, OnlineTyari, and IIM Jobs, to name a few. It has also made eight follow-on investments in its portfolio companies. It has co-invested with other investors such as Sequoia Capital, Lightspeed Venture Partners, 500 startups and IDG Ventures and angel investors including Rajan Anandan, Binny Bansal and Kunal Bahl, among others.
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