.₹ 125cr Idea­spring for those with Big Ideas

The Economic Times - - Disruption: Startups & Tech - Our Bureau

Ben­galuru: A group of in­vestors have set up a .₹ 125-crore ven­ture fund — Idea­spring Cap­i­tal — to back en­trepreneurs build­ing ven­tures in ar­eas like ma­chine-learn­ing, im­age pro­cess­ing, aug­mented and vir­tual re­al­ity, in­ter­net of things, healthtech, and fin-tech among oth­ers.

The in­vestors in­clude, Aarin Cap­i­tal’s TV Mo­han­das Pai, Sasken Tech­nolo­gies CMD Ra­jiv Mody, Patni broth­ers Amit and Ari­hant Patni, and an­gel in­vestors Na­ganand Do­raswamy and Prashant De­sphande.

The fund will in­vest up to .₹ 3 crore in a seed round, with se­lected star­tups ex­pected to raise pre-se­ries A fund­ing by the end of the 18-month pro­gramme.

“In­tel­lec­tual prop­erty and deep tech­nol­ogy al­go­rithm would be the key dif­fer­en­ti­a­tion for se­lect­ing the star­tups,” said Do­raswamy, MD, Idea­spring Cap­i­tal.

Of the to­tal cor­pus an ini­tial .₹ 50 crore will be de­ployed as a seed fund to in­vest in early-stage ven­tures, a fur­ther .₹ 50 crore will be al­lo­cated for pre-se­ries A or se­ries A rounds. An ad­di­tional .₹ 25 crore will be a buf­fer amount, Do­raswamy said.

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