Early-stage venture investor Axilor Ventures, has announced that it will double the number of startups for its 100-day accelerator programme for which the applications are currently open. The programme runs twice a year, in March and September, reported VCC.
Speaking on the development, Gopalakrishnan, co-founder of Axilor said, “We are getting ready for the second wave of startups. A fast-growing base of online consumers, an enabling public digital infrastructure, growing pool of founders with prior startup experience and an increase in early-stage seed capital are creating the conditions for this second wave.”
Axilor takes about 10-12 startups currently, but is now looking to take in about 20 startups for its future cohorts. Infosys co-founders, S Gopalakrishnan and SD Shibulal, launched Axilor Ventures in 2014, to help entrepreneurs and early-stage startups to succeed in diverse verticals.
Besides Gopalakrishnan, Shibulal and Venugopal, Axilor’s other co-founders include former Infosys board member Srinath Batni and Harvard Business School professor Tarun Khanna.
Since inception, Axilor has supported 30 startups through its accelerator programme and invested in over 20 startups through its programmes. Axilor typically supports startups from launch to scale, typically investing up to Rs 3 Cr. for a minority stake.
Ganapathy Venugopal CEO of Axilor said, “70% of the startups from the last batch have successfully moved to their next stage – half of them have already secured funding, one has been acquired and the others are in advanced stages of pilots. The programme enables them to…sign up customers and get funded, quickly.”
Who can apply?
Startups working in the space such as AI, enterprise, fintech, consumer internet and health-tech.
Few of its portfolio companies include events listing platform Eventshigh and home repair services provider EasyFix.
Besides, Axilor has also made some successful exits in past. These exits include ecommerce services and technology company Sellerworx, which was acquired by software firm Capillary, and online fashion firm Craftsvilla acquired gourmet food marketplace Place of Origin.