Piggybank Super Angels Back from a Break to Fund Five Cos
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New Delhi: Gurgaon-based startup accelerator Global Super Angels Forum (GSF) has made fresh investments in five startups which constitute its fifth batch for its accelerator programme.
The five startups are, bot-assistant player YellowAnt, artificial intelligence (AI)-driven chatbot solution HeyMojo, deep-learning tech startup Silversparrow, appbased health program Breathe Well-being, and tech-enabled investment platform Oro Wealth.
One of the most active accelerators in the country, GSF’s new programme comes after a break following the graduation of its previous batch in February 2016.
The delay (it last invited applications in May 2016) comes as GSF revamped its operating model reducing its intake of startups from 10 per batch to five, according to founder Rajesh Sawhney.
It is also running a batch at a time in Delhi, Bengaluru and Mumbai, as against the earlier strategy of running parallel acceleration programmes across all the three cities. GSF now wants to intake startup batches more frequently, at least twice a year. “This year, it is go- ing to be two batches and the goal is to ultimately do three batches a year by 2018,” he said.
“It is important to take in startups more frequently because every year a new theme emerges within the realm of technology, it’s a much more dynamic environment than before. We want to be at the cutting edge of technology and remain contemporary,” said Sawhney who plans to make the incubation programme more intense and hands on. The investment team for this batch of startups includes GSF founder Rajesh Sawhney; Hiro Mashita, M&S PTE; Anand Chandrasekaran, Head of Platform and Product Partnerships at Facebook; Sumesh Menon, Founder of U2opia Mobile and Woo; Dinesh Agarwal, Founder of IndiaMart; Ashish Toshniwal, Founder of Y Media Labs, San Franscisco; and Sri Peddu, Powerhouse venture. GSF has invested $65,000-100,000 in each of these startups which will be heading to San Francisco and Tokyo in March to network with the tech ecosystems there.
GSF now wants to intake startup batches more frequently, at least twice a year