StartupXseed looks to increase startup fund entity to $15.4 mn by year end

StartupXSeed Ventures, a strategic seed funding company, is looking to increase the entity of its first startup fund to $15.4 Mn (Rs100 Cr) from the current $4.64 Mn (Rs 30 Cr) by the end of 2017. The Bengaluru-based venture capital firm currently manages Aaruha Technology Fund (ATF) launched in August 2015.

The fund will focus on investing in seed-stage startups, with an emphasis on innovation, IP creation, and disruptive technologies. The sectors in consideration would be security, semiconductor, embedded devices, Internet of Things (IOT), machine learning, and AI product & services. The ticket size will range from $77K (Rs 50 Lakhs) to $185K (Rs 2 Cr).

B. V. Naidu, Managing Partner, StartupXSeed stated, “In the next six months we are looking at investing in six companies with our ATF fund and our goal for next 18- 24 months is to invest in 20-25 companies."