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Kalaari Capital’s incubation program to invest $20M in 40 startups

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Venture capital firm Kalaari Capital is planning to launch a seed and incubation program called KStart to invest about $20 million in 40 startups over the next 2 years, reports ET. According to the report, the VC firm has not made any seed deals in the last 10 years, but launched this because it felt a requirement and gap in the market in terms of mentoring.

Interestingly, in June last year, online food delivery company Holachef did raise Rs 20 crore in seed funding led by Kalaari Capital and India Quotient. Kalaari also has investments in Haptik, Instamojo, Myntra, Snapdeal, Swipe, YourStory and Zivame among others.

The company’s KStart will invest about $500,000 in each startup through convertible notes, a debt instrument of bonds which can be converted to shares later. KStart will have quarterly batches of up to 5 startups. The company will have the option to invest up to 50% in new funding rounds raised by its portfolio companies, to minimise risk.

It has also appointed Padmasree Warrior, former CTO of Cisco and Varsha Rao, global expansion head of Airbnb to mentor the startups in this program. In February last year, Ratan Tata, Tata Sons chairman emeritus, joined the VC firm in an advisory role, to guide and mentor founders of startups in Kalaari’s portfolio.

Kalaari Capital’s investments in 2016:
– Earlier this month, Truebil, an online marketplace for used cars, raised Series A funding worth Rs 35 crore from Kalaari Capital, Inventus Capital and Tekton Ventures, with participation from Kae Capital.

– Last month, Power2SME, an online buying club for small and medium enterprises, raised funding led by Infosys co-founder Nandan Nilekani, with participation from existing investors Accel Partners, Kalaari Capital and Inventus Capital.

Kalaari Capital’s investments in 2015:
– In November, Media and news startup ScoopWhoop raised $4 million from Kalaari Capital.

– Same month, Delhi based POPxo, a website which details pop culture in the Indian youth, raised $1.98 million from IDG Ventures, Kalaari Capital, and 500 Startups.

– Grabhouse, a Mumbai-based online roommate search engine, raised $10 million from existing investors Kalaari Capital and Sequoia Capital. It had initially raised $2.5 million in January 2015.

– In July, online jewellery store BlueStone raised $16 million from Ivy Capital, Dragoneer and existing investors Accel Partners, Kalaari Capital and Saama Capital.

– In May, hotel aggregator Fabhotels raised $5 million from Accel Partners and Kalaari Capital.

– Weight loss startup Truweight raised an undisclosed amount in Series A funding from Kalaari Capital.

– In April, online professional certification courses provider Simplilearn raised $15 million led by Mayfield, Kalaari Capital and Helion Venture Partners.

– The same month, software development company Robosoft raised a Series B funding of ~ $12 million from Ascent Capital and existing investor Kalaari Capital.

– Likewise, online furniture store Urban Ladder raised $50 million in Series C funding led by Sequoia Capital, TR Capital, Steadview Capital, Kalaari Capital and SAIF Partners.

– In March, trip planning startup TripHobo raised $3 million in Series B from Mayfield and existing investor Kalaari Capital.

– Same month, social media follower management startup Crowdfire (previously known as JustUnfollow) raised Series A funding of $2.5 million from Kalaari Capital.

– Likewise, online virtual classroom solution provider Aurus Networks raised $3 million series A funding from Kalaari Capital and IDG Ventures.

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