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VC Hunt Closes Seed Funding Of Rs 6 Cr In Two Startups

24 December, 2008

Delhi based early stage investment firm, VC Hunt has recently concluded two deals. The firm has invested Rs 1 crore in fashion retail chain Avisya and Rs 5 crore in robotics firm Artintell. These investments follow VC Hunt’s investment of  Rs 2.5 crore  in CashURdrive, a firm focusing on advertising on private vehicles.This takes the total commitments of VC Hunt in India to the tune of Rs10 crore.

Avisya, the fashion retail chain, focused on the elite segment of the society will launch its India operations by January next year. The venture is promoted by Aarti Sood and Palak Verma.

Artintell Systems is an artificial intelligence venture, making robotics applications to help perform tasks. It is about new ways of connecting people to computers, people to knowledge, people to the physical world, and people to people. It is developing applications in fields such as entertainment, medical, defence and service bots.

VC Hunt has an interesting model as it has network of partners in six countries – India, UK, USA, Singapore, Bahrain and South Africa. The idea is to leverage the network and help companies in VC Hunt’s portfolio expand in these different countries, taking the idea global. “Our idea is very simple for VC Hunt – you ideate and we capitalise,” said Gautam Seengal, Managing Partner, VC Hunt Global & VC Hunt, India. Seengal is also the Managing Partner for private equity fund Acumen Capital, which has invested in VC Hunt.

VC Hunt plans to invest in companies that have innovative ideas that have not been done before and those which can be replicated in global markets. Case in point is CashUrDrive. The startup selects cars for advertisements based on certain parameters and the driver is paid in petrol redemption cards. CashUrDrive is now planning to take this idea to UK and Singapore. According to Seengal the idea is applicable wherever the prices of petrol are high.

Ditto for Avisya and ArtIntell, which are also ideas that have a global playing field. Seengal says that stake in these venture can be later sold on to private equity funds, which can help scale these companies further.


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VC Hunt Closes Seed Funding Of Rs 6 Cr In Two Startups

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