India Accelerator, Chiratae Sonic join hands to co-invest in high potential early-stage startups

India Accelerator and Chiratae Ventures aim to strengthen the startup ecosystem in India

FPJ Web DeskUpdated: Thursday, June 09, 2022, 12:23 PM IST
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As part of the partnership, the companies will identify promising startups across domains, with technology at the core, it said. / Representational image | Photo by Pexels

India Accelerator, GAN-partnered and mentorship-driven accelerator, has recently announced its partnership with Chiratae Sonic, the flagship Seed investment initiative of Chiratae Ventures to co-invest in high potential early-stage startups in India.

As part of the partnership, the companies will identify promising startups across domains, with technology at the core, it said in a statement.

India Accelerator and Chiratae Ventures aim to strengthen the startup ecosystem in India by unlocking new opportunities for high potential startups and providing them with access to early-stage capital and mentorship, along with other essential resources. With the sector-agnostic investment partnership, both the entities will jointly invest in technology enabled startups across the country.

Mona Singh, Co-Founder of India Accelerator, said, “Our partnership will aid startups across the country gain access to a huge pool of experienced mentors and capital that is key to scaling up in the early stages of growth.”

India Accelerator is India's first Global Accelerator Network [GAN] backed institution, helping startups realise their true potential by accelerating them into the next phase of growth. IA has accelerated over 130 startups since its inception in 2017, by providing them with the essential capital, competency, mentorship, tech guidance, business connections, and a strong community to learn and grow with. Earlier this year, IA has been recognised as the ‘Best Accelerator in India’ by the Government at the Startup India Awards, in leiu of the groundbreaking work done over the past few years, and also ranks among the Top 100 accelerators worldwide.

Chiratae Ventures is a leading technology venture capital funds advisor that has backed startups like Cure.fit, Myntra, FirstCry, Flipkart and Lenskart. Founded in 2021, Chiratae Sonic, its flagship Seed investment initiative identifies and invests in disruptive technology ventures. It democratizes the fundraising process by assuring a turnaround time of just 48 hours on investment decisions.

Commenting on the co-investment partnership, Anoop N Menon, Principal of Chiratae Ventures, said, “With Sonic, we are expanding our reach to identify stellar founders building early from all parts of India and partners such as India Accelerator who work closely with startups are natural partners to engage with. We are also able to bring to bear our experience and expertise to their portfolio, beyond just access to capital”.

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