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Updated on: Thursday, September 30, 2021, 03:19 PM IST

Shiprocket, Huddle plan up to $1 mn investment in startups under accelerator program

PTI
Rocketfuel X Huddle will accept applications till October 22, from relevant startups that sell products directly to consumers/ Representational image | Photo credit: Gerd Altmann from Pixabay

Rocketfuel X Huddle will accept applications till October 22, from relevant startups that sell products directly to consumers/ Representational image | Photo credit: Gerd Altmann from Pixabay

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Digital logistics platform Shiprocket on Thursday said it has partnered with sector-agnostic accelerator Huddle to launch an accelerator program aimed at investing around $1 million in Direct-to-consumer (D2C) startups.

The Rocketfuel X Huddle accelerator program is aimed at investing around $1 million towards mentoring D2C startups from early to growth stages.

Rocketfuel X Huddle will accept applications till October 22, from relevant startups that sell products directly to consumers.

"Focussing on D2C startups in the food and beverages, beauty and personal care, fashion and apparel, and home improvement categories, the accelerator program will look to invest up to $1 million with equity investment starting from $100 thousand per startup to back early and growth stage consumer ventures," Shiprocket said in a statement.

The program also offers instant access to revenue-based financing starting at $30,000 per startup, infrastructure across back-end and front-end support for startups and credits up to $500,000.

"Shiprocket, along with Huddle, has backed/accelerated and invested in over 100 startups that have gone on to revolutionize their respective industries. With this program, we aim to create a progessive ecosystem that will further drive the growth of emerging D2C startups in the country," Saahil Goel, CEO, and Co-Founder of Shiprocket, said.

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Published on: Thursday, September 30, 2021, 03:19 PM IST
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