Leading tech-focused venture capital firm IDG Ventures India (IDGVI) has launched its 2017 Innovation Program (#IDGIP2017) to reach out to emerging disruptive startups across its core sectors of consumer tech, software, health-tech and fintech products space. Applicable at startups for raising of Seed or Series A rounds between $ 0.5M to $ 5.0M, the Innovation Program has collaborated with Unilever Ventures and Amazon Internet Services Private Limited (AISPL), the Indian affiliate of Seattle-headquartered Amazon Web Services, Inc. Unilever Ventures (UV) is the Venture Capital and Private Equity Arm of Unilever. It will offer start-ups and later-stage companies the opportunity to receive equity investment and operational support from Unilever. UV has a strategic relationship with IDGVI as an investor and will evaluate companies as part of this program for potential co-investments.
Also, the shortlisted companies will receive technology mentorship from the AISPL team and value-added benefits like AWS credits, premium business support and GTM connects. As the most active tech-focused VC, IDGVI has run successful sector programs in 2016 that focused on consumer-tech and software. The 2016 program saw close to 1,000 applications from startups and via this program, IDGVI invested in six companies – Little Black Book, Flyrobe, Active.ai, Pipecandy, Hansel.io and Infisecure. Investment size varied from $ 0.5M to $ 3.0M depending on the stage of each of the selected companies.
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“After the very successful 2016 Innovation Program, the 2017 edition expects to reach out to over 1,000 companies in the next two months and partner with/invest in select start-ups from Fund three to grow with IDG Ventures India’s unique growth platform. IDG Ventures will view early-stage Seed and Series A startups in this Program who are uniquely disruptive and are innovative leaders in the market,” said founder chairman IDG Ventures India, Sudhir Sethi.