Four Hatch start-ups secure significant funding igniting local start-up ecosystem
Four Hatch start-ups, Hyperglade, Miris by Islandmom, True by Tina and Feelo, have acquired funding to take their businesses to the next level.
The most significant of these funding opportunities came from Silicon Valley investor Tim Draper, who funded Hyperglade with US $ 350,000, proving that the local entrepreneurial talent among Hatch start-ups are capable of making a global impact.
Hatch prides itself with being the centre of gravity for all things start-up empowering entrepreneurs, through its start-up incubator and accelerator programmes and co-working space. Hatch strives to connect entrepreneurs by creating a collaborative environment that provides equal opportunity to all, with the goal of creating a thriving start-up ecosystem that powers Sri Lanka’s economy,
At the start of 2023, Hatch launched an initiative titled ‘Sri Lanka: From Troubled Nation to Start-up Nation’ to highlight how Sri Lanka’s top entrepreneurial talent could pave the path to recovery. The first part of this initiative saw Tim Draper, founder of the renowned Silicon Valley venture capital firm Draper Fisher Jurvetson, visiting Hatch in Colombo to connect with its start-ups and provide them the chance to pitch their ideas to a global audience through his TV show, ‘Meet the Drapers’. It did not take long for local talent to be recognised: Hyperglade, a Hatch community startup specialising in Blockchain and Web3 migration solutions, secured US $ 350,000 (Rs.112 million) in funding from Draper Associates. Hyperglade previously made waves as regional pioneers by hosting Sri Lanka’s first single artist NFT auction. The auction was executed in cooperation with a fellow Hatch community member and hosted at Hatch, further proving the benefits of Hatch’s collaborative environment to burgeoning startups.
Draper Associates’ investment in Hyperglade serves as a strong endorsement of the significant start-up potential in Sri Lanka that Hatch has been working to nurture through its various start-up incubation initiatives.
In working to enhance the startup ecosystem in Sri Lanka, Hatch is also home to some digital nomad entrepreneurs, one of who is the founder of Feelo a start-up that offers unique experiential packages. Founded just four months ago, the venture has acquired a sizable customer base and announced its first investor partnership just four months into business. Feelo Co-founder and CEO - Ondrej Lang aims to build a Sri Lankan company that can disrupt the entire South Asian market.