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EVC’s $50M fund to invest in Indian IoT, wearables & gaming startups


Entrepreneurship & Venture Capital (EVC) has announced a $50 million fund for Indian startups, reports YourStory. The investor will use to fund to invest in sectors like Internet of Things, mobile, ad-tech, ecommerce, wearables, gaming and education.

EVC is likely to invest between $100,000 to $5 million from the fund EVC II in exchange for equity. The company’s other program, EVC Accelerators, which operates in the US and India, invests $5,000 to $100,000 in startups in exchange for equity. EVC will also offers mentorship to startups it invests in, other than help them reduce cost of operations through partner vendor networks.

As of now, the startups in EVC’s portfolio include OculusIT, Lookingglass, MeetUniversity, Kryptos mobile, QuickLaunch SSO, Milk basket, BlackBeltHelp and EdTechReview. The investment firm also runs a program called I-MADE (Innovation in Mobile App Development Ecosystem), which will cover the costs of accepted applicants’ software licensing, hosting and support costs of the mobile app development.

Recently announced startup funds in India:

– Last month, medical equipment provider Trivitron’s Managing Director GSK Velu floated two investment funds—a Venture Capital (VC) fund under Stakeboat Capital targeting to raise $100 million, and a family office fund with a corpus of $75 million

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– In the same month, equity firm Paragon Partners launched Paragon Partners Growth Fund I (PPGF-I), a $200 million India focused fund. The fund will focus on financial services, infrastructure services, industrials and healthcare services.

– In February, 500 Startups launched a new $25 million fund to invest in India, Sri Lanka and Bangladesh. The fund would focus on early stage companies that have demonstrated traction

– In the same month Nokia Growth Partners (NGP) announced a new $350 million fund IV,  for investing in IoT companies in the US, Europe, India and China. The fund will invest in companies around connected enterprise, consumer solutions, connected car and digital health and those focused on big data and analytics.

– Similarly, in the same month, IDG Ventures India had launched an India-focused tech fund with a target amount of $200 million.

– In January, Storm Ventures launched a new fund for software-as-a-service (SaaS) startups in India, with an allocation of at least $10 million for the fund.

– In the same month, Unicorn India Ventures finished a first close of Rs 40 crore on its Rs 100 crore fund. The fund will invest in early stage startups in verticals like mobile, social media, analytics, cloud tech and Internet of Things (IoT).

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– In December 2015, China-based mobile internet firm APUS Group launched a fund in India worth Rs 300 crore to invest in startups. The fund will focus on investing in early stage startups working on mobile internet projects.

– In December 2015, Industrialist Sudhir Menon and digital marketer Atul Hegde had setup a new start-up fund called Rainmaker Ventures. The fund’s size will be $50 million and it would invest in startups across healthcare, education, mobile and FMCG.

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