Venture capital firm on Thursday announced the launch of the second edition of Sonic, its flagship seed investment programme. In 2021, Chiratae announced investments into 19 startups as part of the first edition of Sonic.
The first edition saw companies across consumer-tech, SaaS, deeptech, metaverse, Web3 and B2B enterprise-tech raising seed investments from Chiratae. ByteLearn, one of the Sonic-2021 companies, also raised a follow-on round of funding within six months of closing their seed round.
According to an official statement, Chiratae Ventures saw over 3,000 deals across the calendar year of 2021. Most of them came from founders at seed and Pre-Series A stages. With a platform like Sonic, the team expects to receive over 4,000 applications from the startup ecosystem through the year.
Sudhir Sethi, Founder and Chairman, Chiratae Ventures
Commenting on the launch of the second edition, Sudhir Sethi, Founder and Chairman, Chiratae Ventures, said,
"Chiratae Sonic promises to be even more exciting. We invite young entrepreneurs, especially in high-end technologies in various verticals, with an ambition to build large, globally scaled companies. Our seed investments in Uniphore, Emotix, Hevo Data, Redcliffe, Bizongo, PlayShifu, ByteLearn, and Pyxis are a testimony to the success of the Sonic programme."
Through this initiative, the team at Chiratae assures a 48-hour turnaround on investment decisions on funding requests up to $500,000 from the first pitch session. In addition, Chiratae invites applications from founders of companies looking to raise up to $2 million as part of Sonic.
Through the Sonic programme, Chiratae also plans to engage more deeply with student entrepreneurs passionate about technology and innovation. Chiratae aims to identify, mentor and invest in startups with technology at their core, across dynamic industries such as:
❖ Consumer Tech
❖ SaaS
❖ B2B Enterprise Tech
❖ Fintech
❖ Healthtech
❖ Deeptech
❖ Edtech
❖ Agritech
❖ Web3
Also, Sonic has collaborated with over 20 ecosystem players, including AWS, Microsoft, Oracle, Mixpanel and Razorpay, to name a few, to bring their resources and experts to accelerate the initial technology and product journeys.
Edited by Kanishk Singh