Gray Matters Capital is part of the unique club of venture capital investors in India having in-house startup accelerators including Sequoia Capital India, Blume Ventures, and Axilor Ventures. Sequoia had launched its accelerator programme -- Surge in January this year.
US-based impact investor Gray Matters Capital, which invests in startups working towards improving access to affordable education and employability in India, today announced names of startups that will be joining the second batch of its six-month accelerator programme GMC Calibrator. Gray Matters capital is part of the unique club of venture capital investors in India having in-house startup accelerators including Sequoia Capital India, Blume Ventures, and Axilor Ventures. Sequoia had launched its accelerator programme – Surge in January this year.
The programme, which will begin from March 13 in Bengaluru, has six start-ups from India and three start-ups from Kenya, Sierra Leone and Vietnam, Gray Matters said in a statement. GMC Calibrator was launched in April 2018.
“We launched the GMC Calibrator last year to help edtech enterprises in India solve key challenges they faced related to user engagement. This year, we have taken the program global, as the same set of challenges are being faced by companies in other countries having similar demographics, mobile penetration and the need to bridge gender and learning gaps besides upskilling for jobs,” Ragini Chaudhary, India CEO, Gray Matters Capital said.
The six startups from India include coding startup Dcoder, mental counselling service provider InnerHour, Lal10 that allow rural artisans to sell products in global markets, vernacular content community platform Matrubharti, skill development platform Quest Alliance, and creative play kit for children Skipy.
The accelerator this has diversified from focusing on only edtech startups to also include enterprises in the skilling, livelihoods and peer-to-peer learning space.
Highlighting benefits for its first batch startups, the accelerator’s head Omkar Kulkarni said that there was 30 per cent increase in monthly retention and 20 per cent increase in revenue for each of the startup. “Three companies of the cohort raised funding during the 6 month engagement while two made it to Google Launchpad and Reliance’s Jio GenNext Accelerator, Kulkarni said.