DeVC India Empowers Over 30 Startups with Diverse Sector Investments
- ByStartupStory | July 21, 2023
Decentralized Venture Capital, DeVC India, has made significant investments in more than 30 startups across various sectors since its establishment in 2023. This collective of founders, operators, and investors collaborates to support early-stage startups from concept to early traction. The DeVC community is strengthened by a co-working space and an associated fund that provides capital and operational expertise to entrepreneurs.
The investments range from $50,000 to $500,000 in each startup, and DeVC’s supporting fund is anchored by Matrix Partners India, along with contributions from other investors and family offices. The collective, led by Divyanshi Chowdhary from DeVC and Aakash Kumar from Matrix Partners India, aims to back over 50 startups annually in India and worldwide.
Prominent founders and early-stage investors form part of the DeVC collective, including individuals from successful startups like Haptik, Park+, OfBusiness, Razorpay, and Swiggy, among others. The diverse sectors invested in encompass Semiconductors, Cleantech, Spacetech, SaaS, Fintech, Consumer Internet, B2B commerce, and Web3. Startups benefiting from DeVC’s support range from in-space satellite servicing robots to blockchain-based data infrastructure and solar EPC SaaS, to tech-enabled OEMs.
Ashwini Asokan, Founder of Vue.ai and DeVC Investor, expressed excitement about the transformation in the landscape of companies, highlighting the emergence of “Foundational Technology” from India. Additionally, startups backed by DeVC gain access to a strong partner network and dedicated community management team, providing crucial resources and support in talent acquisition, finance, legal assistance, and more.
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