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Sri Lanka’s Venture Engine Finalists Secure $760K Funding From Angel Networks

Venture EngineTen Sri Lankan startups have raised close to $760k from investor networks in Sri Lanka and India. Venture Engine, an initiative by Blue Ocean Ventures and the Indian Angel Network in Sri Lanka said that 10 startups that made it to the finals of their competition, have raised the funds from investors of the Lankan Angel Network & the Indian Angel Network.

Glitteray, the company which came 3rd at the award ceremony organised by Venture Engine and Saraii Village, have been funded. Startups Ridgecrest and?Push Skateboards?are in the final stages of formalising their funding. House of Lonali & Nitya, finalists from 2012, have also received a second round of funding.

The second edition of Venture Engine began in May. Over 120 business plans were submitted and after 3 weeks of presentations, workshops and mentoring sessions the top 25 submission where narrowed down to just 10.

Venture Engine 2013’s 10 finalists

  • Sarasi Gunartne’s online marketplace Seedz.

  • Dakshina de Silva’s music production company Ace of Clubs.

  • Charitha Abeyratne Hettiarachchi’s sustainable tourism venture Saraii Village.

  • Mihiri de Silva’s reclaimed fabric fashion label Red Cocoon.

  • Nilusha de Silva’s gourmet dessert business Scrumptious.

  • Hash Bandara and Umanga Samarasinghe’s Push Skateboards.

  • Surenn De Chickera’s Disability Learning Center.

  • IT Platform Ridgecrest.

  • Jewelry design company Pretty Metal.

  • Augmented Reality solution Whodat.

On June 26th, a panel of 7 high profile investors from India along with the panel of investors from the Lankan Angel Network joined the sponsors and founders for the final presentations by the 10 entrepreneurs shortlisted for the final.

Recommended Read: Ayubowan Sri Lanka : An Interesting Startup Ecosystem in Making

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