100X.VC Invests $3.4 Million in 22 Startups, Unveils Class 09 Portfolio
- ByStartupStory | June 26, 2023
Mumbai-based venture capital firm, 100X.VC, has announced a significant investment of $3.4 million in 22 startups as part of its Class 09 funding round. The announcement was made during the VC Pitch Day, a live event attended by over 400 investors including high-net-worth individuals, family offices, venture capital funds, and corporations.
Operating on a class-based investment model, 100X.VC closely collaborated with each founding team, providing mentorship and guidance to enhance their products and go-to-market strategies before selecting them for funding.
From an application pool of 4,210 startups, 100X.VC shortlisted 709 companies to identify the 22 startups that would receive investments in Class 09. The selected portfolio companies represent a diverse range of sectors and are based in 11 cities across India, including Mumbai, Bangalore, Delhi, Pune, Ahmedabad, Noida, Kolkata, and more.
Expressing his enthusiasm about the latest cohort of startups, Ninad Karpe, Partner at 100X.VC, said, “We are excited to present our latest cohort of 22 startups in Class 09. With these investments, we have now funded 127 startups across various sectors. We believe that there are many disruptive businesses in India’s early-stage startup ecosystem, and the startups in Class 09 represent such opportunities.”
The investment of $3.4 million translates to an average investment of $160,000 per startup, providing crucial capital to fuel their growth and development. The funding will enable these startups to further refine their offerings, expand their market reach, and accelerate their business growth.
Among the startups that secured funding in Class 09 are abCoffee, Airbook, Bansiwala, BreatheESG, ColabTools, Curlin, Enrico, Epicure Robotics, Happi Planet, Pikndel, Rannkly, ReThought, Recipeat, Ribin, Roopya, Seek Spicta, TRIKL, WomanlikeU, Wyse, Xetgo, and Xylem.aI.
One notable aspect of 100X.VC’s investment strategy is its use of India SAFE Notes, making it the first venture capital firm to employ this financing instrument for early-stage startup investments. The fund is sponsored by Mehta Ventures, the family office investment arm of Sanjay Mehta.
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