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Axilor Ventures’ fifth accelerator batch raises $5 mn

14 August, 2017

Startup accelerator and seed fund Axilor Ventures, led by Infosys co-founders Kris Gopalakrishnan and SD Shibulal, on Monday announced the graduation of its fifth batch of startups.

Half of these startups have already secured funding, Axilor said, adding the average size of the fund-raise was Rs 2.5 crore. The total amount of funding raised by this cohort is Rs 32 crore (about $5 million), it further said.

Here are the names of the startups that have graduated.

Artificial intelligence: Detect, Niramai, Orbuculum and Transporter.city

Enterprise: Adya Inc, CoPro, Extraaedge, Gig Production, Maroon and Rucept

Fin-tech: Legal Docs, TaxGenie and Treatgo

Consumer Internet: Castiko, Knudge.me, Multibashi and YourQuote

Health-tech: PocketPill, Talkadoc and Healthfin

Axilor Ventures has also invited applications for its sixth accelerator batch. In a press statement, the Bangalore-based accelerator said that startups in deep tech, enterprise, consumer tech, fin-tech and health-tech can apply till August 28.

Over the past two years, Axilor claims to have accelerated 30 startups and invested in over 20. At the accelerator stage, it does not take any equity, funding each startup with Rs 50,000. As part of its scale-up programme, it puts in Rs 25 lakh as seed funding in exchange for a small minority stake in startups that complete certain milestones.

It runs its accelerator programme twice a year, in March and September.

In March, IDG Ventures and Axilor Ventures jointly launched a programme to fund early-stage startups in frontier tech sectors.

In December 2016, Bengaluru-based Njuta Technologies Pvt Ltd, which runs events marketplace Events High, had raised an undisclosed amount of funding from Axilor Ventures.

In January, cloud-based solutions provider SecurAX Tech Solutions secured an undisclosed amount of funding from Axilor, Parampara Early Stage Opportunities Fund and a clutch of angel investors.

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Axilor Ventures’ fifth accelerator batch raises $5 mn

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