Info-tech

Idein Ventures to invest $6 m in seed-stage start-ups

K V Kurmanath Hyderabad | Updated on January 13, 2018

Ashwin Srivastava, co-founder and Director, Idein Ventures

VC funding platform plans to fund firms in India, UAE

Venture-capital funding platform Idein Ventures, which recently roped in Zoomcar co-founder David Back as ‘Entrepreneur in Residence’, is looking at investing $6 million in seed-stage start-ups in India and the UAE this year. The firm has invested $1 million in the past two years.

“We are looking at ramping up our investments this year,” Ashwin Srivastava, co-founder and Director, Idein Ventures, told BusinessLine.

“We follow several phases of filtering. We study the business model, market size of the addressable market and teams; and then go for field-level studies. After that, we do a strong due diligence and behavioural analysis before taking a final call on the investment,” he said.

Co-founded by Rajeshwar Prasad, Mahesh Vellaboyina and Ashwin, the firm, on an average, vets as many as 300 ideas to pick one candidate. “Our focus is on seed-stage start-ups and we are technology agnostic,” Ashwin said.

Ashwin said the idea is to reduce the mortality rate of hand-picked start-ups to zero. “We look at ideas that have potential to disrupt (services, products) globally.”

David Back will mentor the start-ups, bringing in his experience as a start-up founder himself.

Idein’s portfolio of start-ups includes Infurnia, which helps consumers visualise their furniture in augmented reality before making a purchase. It has also invested in Jaipur-based education start-up Qriyo that provides home tutors.

Published on February 15, 2017

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor