Unitus Ventures has received an investment of Rs 75 crore (USD 10 million) under Small Industries Development Bank of India (SIDBI)’s Fund of Funds for Start-ups initiative enabled by the Government of India. The fund will strengthen the deployment of its second Rs 300 crore fund, which was launched in 2018.
Note– Unitus Ventures has recently invested Rs 8.5 crore (USD 1.1 million) in Masai School, an ed-tech platform. This investment will continue to strengthen its job-tech portfolio
About Unitus Ventures Fund II:
i.Unitus Ventures Fund II focuses on innovative start-ups, creating technology platforms that connect millions of job seekers with suitable employment opportunities.
ii.It has created a strong portfolio in this emerging job-tech industry.
i.It will invest in 15-20 start-ups in early and scale-up stages with ticket sizes(amount invested into a company) between USD 0.5 million to USD 1.5 million.
ii.The focus will be on selecting frontline founding teams that have what it takes to build and deliver differentiated products and services and the potential to be national or global market leaders.
Some of the new investors like, Lakshmi Narayanan, former vice-chairman and CEO of Cognizant, Raj and Indra Nooyi, former Partner, PRTM Management Consultants and former CEO of PepsiCo respectively will join the existing investors such as Gates Ventures family office, the Michael & Susan Dell Foundation and Hemendra Kothari in Unitus Ventures Fund II.
Startups like Milaap, Hippocampus, Caravan, iStar, and CueLearn have been funded by Unitus Ventures Fund II.
Recent Related News:
i.The Department of Science and Technology (DST) under the Ministry of Science and Technology launched India-Russia Joint Technology Assessment and Accelerated Commercialization Programme in partnership with Russia’s Foundation for Assistance to Small Innovative Enterprises (FASIE). On the Indian side, the programme will be implemented & funded by Federation of Indian Chambers of Commerce & Industry (FICCI) on behalf of the DST.
ii.Alphabet Inc. & Google Chief Executive Officer Sundar Pichai had announced an investment of $10 billion (Rs 75,000 crore) in India through the “Google for India Digitisation Fund” at the 6th Annual, Google for India Event 2020 and also a First virtual event of Google in India.
About Unitus Ventures:
Founder & Managing Partner of Capria and Unitus Ventures– Dave Richards & Will Poole
HeadOffice– Lucknow, Uttar Pradesh
Chairman & Managing Director– Mohammad Mustafa