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India Fund Fest achieves over 25 Cr. investments in one day

ANI 

The scene at on Friday was one of excitement with finalist founders of 28 startups, selected through a rigorous filtering process out of 14,000 applications received, seeking spot funding from 12 plus investors. They were from a wide range of industries, viz., e-commerce, technology, agriculture, animal husbandry, Ayurveda, water conservation, solar energy, payment gateway, e-vehicles, etc.

The selection of these startups was made by an eminent jury and through a proprietary 'Investor Readiness Report' process, ensuring the are thoroughly vetted. Out of 14,000 plus interested companies, 553 were shortlisted through the initial screening. After further filtering, 100 Investment Readiness Reports were prepared. The next round of assessment brought the number down to 35 and then the final most eligible 28 finalists were selected. It was a tough and thorough process of selection.

There were 12 Master Investors and one Deal Master, Nalin Singh of Natio Cultus, on the panel of the TV show format. The invited audience included 100 plus partners who were incubators, mentors, investors and experts from Indonesia, Singapore, USA and other countries. There were 31 partners who wholeheartedly and actively supported by outreaching their network to encourage to apply for the event. Many finalists were referred by the partners. Out of 28 startups who pitched, 13 received offers from the investors and 8 were accepted. This totals to confirm spot deals in excess of INR 25 Crores. With an additional three deals still open, the number is expected to touch INR 42 Crores. One deal was struck by a member of the audience. On the confirmed deals alone, this is India's largest single-day startup funding event ever.

The organisers are who had ideated and executed successful editions of this event in 2017 and 2018. This year they partnered with a TV web series, which was launched recently. The recorded event will be telecast in the future episodes of

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 14 2019. 12:08 IST
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