IT body Nasscom has helped four startups raise funding of Rs 40 lakh as a part of its programme to assist entrepreneurs flip their concepts into booming businesses.
Four begin ups — Boutline, Imly, Drawtime and Routo — raised Rs 10,000,00 every as a part of Nasscom’s on-site funding event for pre-revenue firms, Nasscom same during a statement.
Boutline offers event audience engagement app, whereas Routo contains a suite of location sharing apps for business listings and placement pursuit.
Drawtyme contains a mobile video platform for academics to share interactive videos with students and Imly offers a marketplace of home-cooked delicacies.
Under the sensible Capital, Nasscom’s 10,000 Startups and Microsoft Venture with the support of urban center Angels have developed the on-site funding model to assist prototypes get the backing of angel investors United Nations agency invest concerning Rs 5- 10,000,00 in them for a similar proportion points of equity.
Under the format, terribly early stage startups pitch for concerning 5 minutes to a panel of investors and post the pitch, those that have an interest pool along to eat Rs 5- 10,000,00 of funding.
These firms conjointly receive mentoring and connections further.
“The real worth these firms would receive is in kind of the mentoring and connections they’d get access to through the several investors,” Nasscom 10,000 Startups Senior Director Rajat Tandon same during a statement.
This conjointly offers tremendous confidence to those that plan to startup shortly which there exists a support structure for them as they take the plunge, he added.
Nasscom had started the 10,000 Start-ups program with the support of Google, Kotak, Microsoft and Verisign.
The programme received 3,000 applications for its phase II clinical trial and currently aims to support the shortlisted firms with funding, acceleration, mentoring and business connects.
India contains a good mixture of seed and capital investors however huge thrust is needed on the post paradigm stage investments.
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