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Utthishta Yekum Fund invests in three startups

Invests Rs 25 lakh each in SmarterSMB, Scanova and Rapport

K Rajani Kanth 

Utthishta Yekum Fund, the debut seed fund from Hyderabad-based Utthishta Management Advisors LLP, has invested Rs 25 lakh each in three startups - SmarterSMB, and

The Securities and Exchange Board of India (Sebi)-registered alternative investment fund, with a fund size of Rs 70 crore, has M Prabhakar Rao, chairman of Hyderabad-based Rs 5,600-crore Nuziveedu Seeds Limited (NSL Group), as its anchor investor.

SmarterSMB, launched in November 2014 by Bengaluru-based Smarter Biz Technologies Private Limited, is a mobile solution that captures all the digital activity of a business process, right from the first call to the customer to raising the invoices and getting the payments.

is a product of New Delhi-based software-as-a-service (SaaS) company Trycon Technologies.

"With increasing penetration of 3G/LTE data networks and smartphones, brands now have the option of engaging their target audience via print media using QR codes, and makes this process easy and cost-effective," said Gautam Garg, co-founder and director (business development) of Scanova.

is a product of Pune-based Stratawiz Technologies founded by Shabareesh Deepak and Yogendra Sharma. offers a native mobile app and a cloud-based backend portal that helps its clients ensure better communication and collaboration between sales force and management.

It is currently in private beta and Stratawiz plans to launch it by the end of September 2015. Both Scanova and Rapport were selected as part of Nasscom’s 10,000 Programme in 2014

"The fund typically picks up between 10% and 15% stake in very very early-stage startups in exchange of its investments. It holds on to them for at least five years for an exit, and expects 18-19% return on investment from the firms," P Rama Krishna, general partner at Utthishta, had earlier told Business Standard.

First Published: Mon, June 29 2015. 11:56 IST
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