Pig­gy­bank Su­per An­gels Back from a Break to Fund Five Cos

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The Economic Times - - Disruption: Startups & Tech - Taslima.Khan@ times­group.com

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

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