Startups

9Unicorns is helping Indian startups meet their unicorn goals

Read more at economictimes.indiatimes.com

Mumbai-based sector agnostic fund 9Unicorns has announced the fourth close of its first accelerator fund at $50 million. This comes at a time when the Indian startup ecosystem is enjoying its golden period, with the birth of 15 unicorns this year already.

In addition, 9Unicorns has also announced the launch of its maiden demo day on August 11-12, to showcase 30 startups (15 each from 9Unicorns and its parent firm, Venture Catalysts) to marquee global VCs and help them raise bigger up-rounds.

Amid all this frenzy, 9Unicorns has also committed investments in 59 startups with a combined valuation of $420 million. Seven of the startups have already raised bigger rounds of investments, with a range of 1.65x to 4x valuation. Over the next one year, 9Unicorns plans to invest in 150 such startups.

The fourth close witnessed participation from Haldiram’s, , Parakh Foods, Puzzolana Group , the Ahmedabad-based Chona Family Office, and other LPs from smaller towns and cities. 9Unicorns focuses on startups in sectors such as DeepTech, B2B SaaS, Media, FinTech, InsureTech, HealthTech, EduTech, logistics and others. Its portfolio includes video shopping platform Toch.ai, revenue-based financing firm Klub, fertility care provider Janani, marketing automation firm ExtraaEdge, audio production automation firm Deepsync, D2C lifestyle footwear brand Monrow, edutech brand Qin1 and others.

Commenting on the fourth close, Dr Apoorva Ranjan Sharma, managing director and founder, 9Unicorns, said, “India has truly emerged as the land of unicorns, which puts us at the right place at the right time. We are in the best possible space to capitalise on the momentum. India is poised to cross $100-billion companies by 2023. So, this is the right time for us to launch our first ever demo day. We are optimistic that all our portfolio companies will fare well.”.

Read more at economictimes.indiatimes.com

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