PedalStart introduces Series-2 fund to aid fledgling startups
Startup accelerator PedalStart has declared the rollout of its Series-2 fund, securing $250,000 to support early-stage startups.
“According to the Gurugram-based company, the funds will be allocated to 5-7 promising early-stage startups who have demonstrated notable progress and execution over the preceding three to six months.”
Founded by Manas Pal and Aditya Darolia in 2021, PedalStart provides a community-driven platform for young entrepreneurs to learn, refine their ideas and skills, and more. Additionally, it offers an accelerator program to complement the community platform.
“PedalStart will oversee the selection process to identify recipients of the fund through a rigorous vetting procedure, focusing on the execution and performance exhibited by startups within its accelerator program.”
Entrepreneurs interested in competing for the Series-2 fund are encouraged to explore the application process on PedalStart’s website.
“The company boasts a community of 10,000 startups, over 300 mentors, and 800 founders. It invests across various sectors including agritech, insuretech, cleantech, healthcare, and network.”
PedalStart aims to expand its investments into sectors such as robotics, medical science, deep-tech, and others. Notable startups backed by PedalStart include Newtral.io, BetterSpace, Bull Agritech, OhLocal, and Rupid.
According to Pal, PedalStart anticipates onboarding 2,000 founders to its community during FY24 and plans to invest in approximately 20 to 30 startups, accelerating close to 40 startups.
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