Axilor Plans to Increase Investments in Early Stage Startups; Opens Applications for its 4th Accelerator Batch
Axilor, a new generation platform for supporting early stage startups, is planning to invest in 12-15 startups this year. Through its unique venture funding model, Axilor supports entrepreneurs in their first 24 months, helping them move from idea to scale. Started by some of the iconic entrepreneurs and business leaders, Axilor’s founders include Kris Gopalakrishnan, S D Shibulal, Professor Tarun Khanna, Srinath Batni and Ganapathy Venugopal.
In an environment where there is talk of a funding winter, Axilor continues to believe that there are abundant opportunities to invest in early-stage startups. Talking of its investment philosophy, Kris Gopalakrishnan, Chairman of Axilor said, “Globally, some of the most successful companies have been built coming out of downturns and it will be no different here. The market leaders of the next decade have just started out and we want to support them through the first 24 months of their journey. Not every startup has to aim for unicorn status – building and running a sustainable, high-growth venture is a good outcome. Some of these foundations are laid in the early days of the startup journey and Axilor will enable as many startups as possible to have these outcomes. We are excited to work with entrepreneurs passionate about building businesses by solving tough problems using technology. We will continue to invest in technology startups that power e-commerce, enterprise, and healthcare. However, we will also look at investing in capital efficient models in new sectors with exciting possibilities.
Axilor also announced that it has opened applications for its flagship Accelerator program for the Winter 2016 batch, starting in September 2016. It plans to induct up to 15 startups in its upcoming batch, up from 9 in its previous batch. Less than one in twenty-five applications make it to the final list. One of the few structured programs in the country for founders in very early stages of their idea, the program comes with a host of benefits. At the end of 100 days, most startups achieving the program goals get funding of Rs.25 lacs through Axilor’s Scale-up program.
Talking about the program and its benefits, Ganapathy Venugopal, Co-founder and CEO of Axilor, said “We are extremely happy to see the results of the 100-day accelerator program and the difference it has made to startups. The program has allowed them to move with 3-5x speed, gain good traction and get funded faster. The fact that they are part of a community of some of the smartest founders also makes a big difference to how quickly they are able to move.”
Applications for the Accelerator program is currently open. Listen to the founders from our Summer 2016 batch; learn more about the program and apply www.axilor.com. The applications close on the 19th of August, 2016.