In a bid to strengthen the Indian startup ecosystem, 100X.VC has announced 10 seed-stage startups that are now a part of its Class 03 portfolio.
The startups were handpicked from 1,677 applications, out of which, 303 applicants had passed the meticulous initial diligence process, a statement made by the company said.
The names were revealed at the VC Pitch Day on the 21st of January, 2021, which was attended by more than 500 investors, corporate houses, angels, and family houses. The innovation-led VC firm has driven the investments worth INR 25 lakh to each of the selected startups via founder-friendly iSAFE notes.
iSAFE (India Simple Agreement for Equity) notes were launched in 2019 by 100x.vc and have now become an investment instrument for early-stage startups across the industry.
Leading up to the VC Pitch Day, the portfolio companies interacted with the team at 100X.VC as part of their finishing school – attending 100+ hours of Masterclass sessions by 50+ expert mentors, industry veterans, successful founders, and venture capitalists who shared their in-depth insights about the startup ecosystem, the statement added.
The Class 03 Portfolio companies include Vitra.ai, Accio Robotics, Kerala Banana Chips, BurnCal, Solvio, DCode Care, Cora, SaleAssist, Vecros Technologies, and MicroDegree. They belong to multiple categories including Artificial Intelligence, Robotics, F&B, EdTech, SaaS, and Healthcare alongside others.
Speaking on the development, Ninad Karpe, Partner at 100X.VC said, “2021 is off to a good start. After receiving and reviewing 1677 applications for Class 03, we carefully selected only 10 startups. Each startup has a unique breakthrough idea which has the potential to scale into a globally successful business. These startups can impact India significantly by improving the standard of living and changing our outlook to work and life.
At 100x, we were focused on mentoring, advising, and exposing the founders of these startups to masterclasses to convert their product ideas into a fundable business. For our Pitch Day, we are seeing enormous investor from India and around the world from investors wanting to be part of the extraordinary opportunity offered by these startups.”
With the closure of its VC Pitch Day, 100X.VC has marked the start of its Class 04 investment drive. This year, 100X.VC plans to invest INR 25 crores across 100 startups.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.