Venture Catalysts, the startup incubator and accelerator that has been one of the most active early-stage investors in India this year, has sneaked in two more startup bets as 2020 draws to a close.
Sector-agnostic Venture Catalysts, which also operates accelerator fund 9Unicorns, has invested in AgriGator (operated by Anati Technoloiges Pvt Ltd) and YPay (operated by Bitoodle Online Services Pvt Ltd).
Bhopal-based AgriGator has raised an undisclosed sum from Venture Catalysts and industrialist Ness Wadia. The firm is also a portfolio company of 100X.VC.
AgriGator, set up last year by Udit Sangwan and Charu Chaturvedi, says it aims to provide a one-stop solution for inefficiencies in the agricultural supply chain market by addressing the needs of small-scale traders and industries.
Its services include facilitating trade and logistics between buyers, sellers, and carrier providers. The company generates revenue charging a commission on every transaction. It will use the capital it has raised to enhance technological infrastructure and increase market presence, Sangwan said.
Noida-based YPay has raised an undisclosed sum from Venture Catalysts. The company, set up by Navneet Gupta, operates a digital payments platform for children and teenagers in Tier-III locations and beyond.
YPay says it helps its target audience – including students – gain financial literacy as well as manage their personal spending. Through its app, parents can monitor money management in a controlled manner.
The fintech firm says it also operates a card product – SmartCard – that lets clients adopt and manage digital payments for purchases of books, stationery, school fees, and canteen supplies.
In a statement, Gupta said the firm will use the capital for enhancing technological infrastructure and expanding presence and partnerships.
The startup incubator and accelerator was set up in 2015 by Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain. It invests between $250,000 and $1.5 million in early-stage startups and provides networking opportunities and mentoring to portfolio companies.
Some of its recent investments include performing arts platform STAGE, insurance-technology startup Ensuredit, AI-based culinary platform Klovechef, beverage brand BrewHouse Tea Brewing Co., and employee service desk platform Rezolve.ai.
In September, its maiden investment vehicle – the 9Unicorns Accelerator Fund – hit its first close at Rs 100 crore (around $13.7 million). At the time, the fund said its investment plan will involve initially offering up to $100,000 for a 5-7% stake in a startup.