9Unicorns Sets a Benchmark for Largest Accelerator Fund for Idea & Product Stage Startups With Its Fifth Closure at $100Mn
9Unicorns, India’s leading early-to-growth stage accelerator fund, has announced the fifth closure of its maiden fund at $100 million. The fund has so far invested in 110+ idea & product startups including a few growth stage / series C players like Vedantu, ShipRocket, ShopKirana.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220507005005/en/
9unicorns team (Photo: Business Wire)
It plans to invest $500K to $1 million in the idea stage and, up to $2 million in high-growth stage Series C and above startups this year with a focus on DeepTech, Enterprise SaaS, Web 3.0, FinTech, Media, InsureTech, HealthTech, EduTech & D2C startups.
Commenting on the fifth close, Dr. Apoorva Ranjan Sharma, Managing Director and Founder of 9Unicorns, said, "Our unique approach to redefine idea-stage funding has led to an increased fund size with several leading LPs believing in our strategy. Besides, last year was one of the best times for the startup ecosystem with a funding rush. We invested in 101 deals in 2021 and plan to double that amount this year. We will finish deploying the fund by mid-next year, post which we plan to launch our second fund.”
Backed by global LPs, 9Unicorns’ USP lies in the fact that it allows the startups to tap into its vast Indian business communities in cities beyond the metros immediately enabling them to go pan-India. It directly allows getting early customers, distribution partnerships, cross-portfolio synergies for startups leveraging the pre-existing network of over 5500+ investors, founders, and executives in its ecosystem.
One of the portfolio and Klub Founder, Anurakt Jain, said, ‘’9Unicorns has been a key supporter from Day 0 for Klub. 9Unicorns team is more like founders turned entrepreneurs. The latest fundraise from $50M to $100M has enabled them to double down in portfolio significantly in subsequent rounds of financing. In current markets, it has become extremely crucial to have a long-term committed partner like them in any startup.”
Another portfolio founder, Dr. Arbinder Singal, a pediatric surgeon and a 2X successful entrepreneur, said, “Chemistry of 9Unicorns’ to co-invest with top Tier funds is remarkable. One of the most founder-friendly teams in the VC ecosystem. As we build fitterfly into the largest digital healthcare platform, their partnership & pace of decision making in multiple rounds is something I would always recognize as the most important quality.”
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220507005005/en/
Stephanie Bhandari , email@example.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
B2Core Reveals Its Latest Updates: What’s New?29.5.2023 17:00:00 EEST | Press release
B2Core, the premier CRM solution trusted by brokers and exchanges around the globe, continues to push the boundaries of innovation with its most recent significant update. This update introduces several advanced features and streamlined operations, giving financial institutions more powerful capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230529005019/en/ Telegram Integration (Graphic: Business Wire) Let's have a look at the most notable features. 1. Advanced Event Notification Module A brand-new Event Notification module has been added to the B2Core Back Office, providing admin users with a vast array of customizable event notifications. With the available 27 choices, administrators may send out alerts for various situations, from withdrawal requests to successful registrations. Notifications are sent out to admin users on time whenever an event occurs, allowing them to respond appropriately. Additionally, the
BLUETTI to Showcase New Power Solutions at The Smarter E Europe Exhibition29.5.2023 13:08:00 EEST | Press release
BLUETTI, a leading provider of energy storage solutions, announced its participation in The Smarter E Europe exhibition from June 14th to June 16th in Munich, Germany. It will display its innovative power stations, including the newly launched mobile power AC180 and AC60&B80, and the upcoming household power system, EP760. The Smarter E Europe, the largest energy exhibition in Europe, offers an ideal platform for BLUETTI to show its latest products and innovations in the renewable energy sector. BLUETTI will be at stand C3.240 in the ees Europe section, alongside the exhibition's other three sections, Power2Drive Europe, EM-Power Europe and the famous Intersolar Europe. BLUETTI's presence at the show underscores its commitment to providing sustainable energy solutions to global audiences that chimes perfectly with the goal of the trade fair: Creating a new energy world. Visitors to the BLUETTI booth can expect to see its broad product portfolio, as well as exciting new additions. Among
GIGABYTE’s AI Servers with Superchips Shine at COMPUTEX, Redefining a New Era of Computing29.5.2023 12:02:00 EEST | Press release
GIGABYTE is exhibiting cutting-edge technologies and solutions at COMPUTEX 2023, presenting the theme “Future of COMPUTING”. From May 30th to June 2nd, GIGABYTE is showcasing over 110 products that are driving future industry transformation, demonstrating the emerging trends of AI technology and sustainability, on the 1st floor, Taipei Nangang Exhibition Center, Hall 1. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230525005657/en/ (Photo: Business Wire) Win Big with AI through GIGABYTE’s Pioneering GPU/HPC Servers GIGABYTE and its subsidiary, Giga Computing, are introducing unparalleled AI/HPC server lineups, leading the era of exascale supercomputing. One of the stars is the industry’s first NVIDIA-certified HGX H100 8-GPU SXM5 server, G593-SD0. Equipped with the 4th Gen Intel Xeon Scalable Processors and GIGABYTE’s industry-leading thermal design, G593-SD0 can perform extremely intensive workloads from generative AI and
UAE’s Falcon 40B Dominates Leaderboard: Ranks #1 Globally in Latest Hugging Face Independent Verification of Open-source AI Models29.5.2023 11:52:00 EEST | Press release
Falcon 40B, the UAE’s first large-scale open-source, 40-billion-parameter AI model launched by Abu Dhabi’s Technology Innovation Institute (TII) last week, soared to the top spot on Hugging Face’s latest Open Large Language Model (LLM) Leaderboard. Hugging Face, an American company seeking to democratize artificial intelligence through open-source and open science, is considered the world’s definitive independent verifier of AI models. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230529005045/en/ Falcon 40B ranks 1st globally in Hugging Face Open LLM Leaderboard. (Graphic: AETOSWire) Falcon 40B managed to beat back established models such as LLaMA from Meta (including its 65B model), StableLM from Stability AI, and RedPajama from Together to achieve the coveted ranking. The index utilizes four key benchmarks from the Eleuther AI Language Model Evaluation Harness, a consolidated framework that assesses generative language m
The Inca Arrives to USA, a Strong Outlook for Peru Tourism Recovery27.5.2023 18:00:00 EEST | Press release
The Inca emperor walks the streets of New York City while his retinue dances tirelessly along the way, garnering the attention of the passers-by who stopped to stare and take video of the captivating scene. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230526005330/en/ Peruvian actors from Cusco promoting the Inti Raymi 2023 in New York City, as tourism in Peru is once more on the rise. (Photo: PROMPERÚ). This performance was displayed by 30 actors from Cusco, Peru, as a promotional strategy to get Peru back in the news and in front of potential visitors in a positive way. The upcoming Inti Raymi (Festival of the Sun), a thousand-year-old ritual worshiping the Sun God and asking him to make the days longer, was promoted in the Big Apple in order to put the most notable celebration of Cusco’s calendar in the international spotlight. Inti Raymi honors the Sun each June 24th and celebrates the winter solstice of the Southern H
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom