Second edition of Sonic investment programme launched by Chiratae Ventures
- ByStartupStory | March 4, 2022
On Thursday, Chiratae Ventures, a venture capital firm, announced the launch of its flagship seed investment programme- the second edition of Sonic. An announcement of investments into 19 startups as part of the first edition of Sonic was made by Chiratae in the year 2021.
Companies across consumer-tech, SaaS, deeptech, metaverse, Web3 and B2B enterprise-tech were seen raising seed investments from Chiratae during the first edition. Within six months of closing of the seed round, one of the Sonic-2021 companies, ByteLearn, also raised a follow-on round of funding.
An official statement states that across the calendar year of 2021, Chiratae Ventures saw over 3,000 deals. Most of which came in from the founders during seed and Pre-Series A stages. From the startup ecosystem throughout the year, the team expects to receive over 4,000 applications with a platform like Sonic.
The team at Chiratae from the first pitch session assures a 48-hour turnaround on investment decisions on funding requests up to $500,000, with this initiative. In addition to this, applications are invited by Chiratae from founders of companies who have been looking forward to get a raise of up to $2 million as a part of Sonic.
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