100X.VC, a venture capital firm (1) led by serial investor Sanjay Mehta has disclosed its class 02 investments. It includes nine seed-stage startups from several sectors from the VC Pitch Day held on Friday, 18 September.
The company stated that class 02 funding was completed via iSAFE notes. It would allow investors to make cash investments for a convertible instrument. Hence, the investor would be able to buy shares in the future price.
The firm, launched in 2019, has received over 4,500 applications to date. It includes startups from agritech, blockchain, automotive, edtech, fintech, governance, etc. The 100X.VCC Partner Ninad Karpe stated that the team is delighted to give nine startups part of our Class 02 investment. He added that the year brought us a lot of challenges. However, we are proud of our class 02 startups for their determination, tenacity, and perseverance.
The Class 02 Startups of 100X.VC
Before the VC Pitch Day, all nine startups attended industry experts’ masterclasses. 100X.VC team also organized several prep sessions for the startups. The class 02 startup includes Fyllo, Mindpeers, Pracify, BatteryPool, Jetsons Robotics, Ava, SAWO Labs, Our Eye.ai, and SharedPro. These startups belong to different categories, such as agritech, mental health-tech, HR tech, EV, robotics, healthcare, AI, etc.
As per the company’s claim 100X.VC invested in 20 seed-stage startups in 2019. It had its VC Pitch Day event on 7 December, Mumbai. The company also declared its purpose of investing in more than 100 seed-stage startups by the current fiscal year.
Sanjay Mehta and Ninad Karpe launched 100X.VC. The partners have invested in over 130 startups in various segments as individuals. The Mumbai-based fund also includes other prominent names like Yagnesh Sanghrajka, Vatsal Kanakiya, and Shashank Randev.
At the time of its launch, 100X.V firm announced that it would invest in 100 startups every year. It would further also help startups with their expertise and resources. It would help the startups to increase their capacity to develop a scalable business model.
Author: Rucha Joshi
Source : https://timesnext.com/100x-vc-unveils-its-class-02-investments/
Date : 2020-09-19T09:04:24.000Z