Mumbai-based investment and innovation platform Venture Catalysts has secured USD 5,00,000 funding from Zaffiro Ventures. Venture Catalysts (VCats) was valued at Rs 40 crore during the investment process in the six months of its operations, it said in a statement today. "Our aim, since our launch, has been to support and augment the growth of promising startups across the country.
The investment from Zaffiro will help us in expanding t multiple cities across India and promote entrepreneurship beyond the metropolitan and tier-1 geographies," Venture Catalysts co-founder Apoorv Ranjan Sharma said. The platform recently expanded its operations to Surat and will be looking to establish its physical presence in five cities in 2016 along with an aim to expand to five more cities in the next two years, VCats said. Venture Catalysts has made seven investments in high-value startups with the total deal size exceeding USD 3 million, and will also be looking to leverage its association with Zaffiro to mobilise local HNIs as mentors and investors by connecting them to global ideas developed by disruptive startups in their incubator programme. The platform already has over 600 angels as a part of its investor network and is looking to add 100 new angels in the next few months, it said. It typically invests USD 1,00,000-2,50,000 in very early stage startups. They have focussed on Internet of Things, artificial intelligence, ad-tech, virtual reality, education, e-commerce and retail so far.