Mayfield India has invested in Bangalore based incubator, AngelPrime (read: our interview with AngelPrime team).
Under AngelPrime’s unique *startup studio* model, the partners work closely with entrepreneurs to incubate companies, provide hands?on mentoring, seed capital of approximately INR 1-3 crores (USD $200K-$600K), and a co-working facility in Bangalore. The AngelPrime team has incubated 3 companies in the past two years including ZipDial, EzeTap and Unamia (which recently raised $1.2mn funding).
Mayfield fund has over $3 billion under management and recently raised its fourteenth fund, the $365 million Fund XIV.Mayfield also has a dedicated Mayfield India fund of $111M for investing in early stage revenue generating companies primarily in non technology sectors.
AngelPrime recently announced appointment of Dr. Pramod Varma (UID architect) to its board of advisors and earlier this year, Angelprime launched Ezetap, a made-in-India mobile Point-of-Sale solution that allows any merchant or agent to capture credit or debit card payments in the field using their mobile handset or tablet.
The Accelerator Boom in India?
- 500Startups announced its India batch
- Ex-Reliance Entertainment president, Rajesh Sawhney launched GSF Accelerator.
- Tech veteran Lalit Ahuja has launched Kyron, a $50 mn accelerator to “pamper Indian startups”
- Ex-FashhionandYou cofounders launched 5Ideas.
Recommended Read: Incubators and Accelerators in India: THE List.
Ashiish K Sinha
