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Lumis Partners' SCL starts six-month programme for supply chain startups

Investment firm Lumis Partners on Thursday said it will run a six-month programme under its Supply Chain Labs (SCL) to handhold and fund startups


Press Trust of India  |  New Delhi 

Startups, jobs, investment, mutual fund, dividend, company, companies, employers, start-up, growth

Investment firm Lumis Partners on Thursday said it will run a six-month programme under its Supply Chain Labs (SCL) to handhold and fund working in various areas like warehousing and logistics.

The Supply Chain Labs Accelerator 2020 programme is designed to make early-to-growth stage scale-ready and will provide them with an initial funding of Rs 25 lakh per startup and up to Rs 3.5 crore to a select few startups, a statement said.

It will also offer deep-engaged mentoring and access to corporate customers to help collaborate to solve complex large scale problems of the industry, it added.

"Our aim is to support a generation of new age entrepreneurs, make them more self-reliant (Atmanirbhar), and boost our 'Make in India' initiative for achieving indigenous economic growth," SCL Managing Partner Ashutosh Mayank said.

SCL believes that innovation in the supply chain would be a key path not only to economic recovery in most industries, but shall also be the lifeline for return to normalcy amid COVID, he added.

"Through the program 'Supply Chain Labs Accelerator 2020', SCL will nurture and invest in high-potential startups engaged in disrupting supply chain, warehousing and logistics," he said, adding that the intent is to identify and adopt innovations to optimise supply chain, warehousing and logistics.

In the last edition that concluded in February, SCL had selected nine supply chain startups. The cohort of nine that graduated showed 2X-10X growth, and five of them raised follow-on capital or were merged/acquired by the investors.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, July 30 2020. 22:29 IST