Investor syndicate platform LetsVenture has partnered with MeitY Startup Hub to fund early-stage startups up to USD 100,000 under the SAMRIDH Scheme.
The VC firm said it was selected under the SAMRIDH Accelerator program earlier this year. Under the accelerator program, LetsVenture Foundation will support 8 startups in the first phase, it added. The foundation will focus on startups working in sectors such as Deep-tech, Gaming, Fintech, and Saas.
“Funding is a critical component for startups to scale, and having a program whereby matching funding is provided by investors can create a significant impact on the success of the startups," said Jitendra Vijay, CEO, MeitY Startup Hub.
"The expertise of Lets Venture and its deep network of investors will provide the necessary support for these startup founders to access capital and create impactful solutions,” he added.
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Along with this partnership, LetsVenture has also announced a slew of new products on its platform.
The early stage investment platform has launched its founder’s only SaaS platform, Scalix. The platform aims to remove operational inefficiencies faced by a founder, a statement said.
With this launch, LetsVenture is looking to build a deeper, more meaningful relationship with founders. The VC firm recently closed 250+ deals with a portfolio asset of USD 8 billion.
“Having worked with so many founders, what we saw was that there was a common set of challenges every founder faced, and the same questions kept coming up in most conversations - be it at starting up, or after starting up," said Shanti Mohan, Co-founder and CEO, LetsVenture.
Also read: PriceLabs to utilise $30 million fundraise to build high quality products and for global expansion
Founder NPS lies at the core of our business flywheel and we believe that LetsVenture is naturally best positioned to deliver this. Scalix is the product that will deliver this vision,” she added.
The new platform will also be available for startups who get selected as part of joint investment between LetsVenture and Meity Startup Hub.
Meanwhile, the firm has also launched its maiden subscription product, Compass, to navigate private market investing through incisive and in-depth data-led stories and analysis.
The subscription product will drop a new story every week capturing a new trend or highlight in private market investing. Compass will also be bringing out original reports ranging from sector-wide analysis to funding trend analysis, the company added.
LetsVenture has raised over USD 110 million for 500+ startups, and its portfolio is valued at USD 8B+ and the platform has more than 12,000 investors from 60 countries.
Also read: LetsVenture’s Shanti Mohan launches new VC fund Propell, to invest Rs 50 Cr in early-stage startups
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