Startup ecosystem enabler, MCats, is aiming to raise $4 million at a valuation of $25 million, the company said in a statement.
According to the statement, the accelerator plans to use the raised funding to reinforce the current portfolio, accelerate the progress towards a digital and self-reliant India, enable global reach and engage more with growth stage startups while also offering mentorship and peripheral services.
“Accelerators are the key to growth. They play a vital role in the startup journey as they are the growth partners, not only in fund raising but leveraging technology, hand holding, mentorship, network opening and in market connect. Globally accelerators have helped Startups such as AirBnB, DropBox and Reddit grow rapidly to billion dollar valuation. But the complicated affair is choosing the right accelerator at the right time,” Sushil Sharma, Marwari Catalysts Founder and CEO, said.
Further adding, Mr. Sharma said, “The idea behind launching Marwari Catalysts was to provide a strong accelerator network and build a founder and investor friendly ecosystem as we believe that the main game relies on the founders and founding team.”
CA Devesh Rakhecha, an Ex-investment Banker and Founder & Director at Marwari Catalysts, stated, “India is minting startup unicorns at a record pace in 2021. And many more could be on the way to the billion-dollar-mark before the year wraps up. So the global funds are keeping an eye towards India, signalling a positive sentiment in India’s rapidly evolving startup ecosystem. Today as we enter the next stage of our evolution, we feel that the financing milestone will be a testimony to our journey of innovation and disruption.”
Rachit Poddar, Co-founder & Gujarat Chapter Lead at Marwari Catalysts, said, “At MCats, we believe in leveraging our global relationships to make India as the key global startup ecosystem hub and create long term wealth for all direct and indirect stakeholders. Our vision truly stands to be a bridge between India and our beloved nations, create exceptional relationships and build a sustainable ecosystem.”
Richa Sharma, a woman entrepreneur and Co-founder at Marwari Catalysts, said, “MCats has always focused on having a dedicated platform to empower women who are trying to break the glass ceiling by being a part of this startup ecosystem. End result being, approx 40% of our portfolio startups today, are led by women Co-founders. Keeping the momentum going and promoting women leadership, MCats aims to provide a window of opportunity with this fundraise to activate more women startup founders or investors and come up with changes for our industry for the better.”
Raunak Singhvi, Co-founder at Marwari Catalysts & Head – Thrive, added, “Building on what we did over the past 2 years, we are committed to be a catalyst and a partner in unlocking the possibilities for a digital India and MCats sits at the right juncture to enable acceleration while fueling innovation and economy in India.”
Summing up, Sushil Sharma, said, “Marwari Catalysts purely as an accelerator is now open for its backward integration with global incubators and forward alignment with Angel networks, HNIs, Family funds, VC and PE funds. Let’s connect and explore because the only growth strategy that matters is collaboration.”
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.