Risers Accelerators backs three startups

Risers Accelerators backs three startups
Photo Credit: Photo Credit: Thinkstock
8 Aug, 2019

Delhi-based Risers Accelerators has invested Rs 11 crore (around $1.5 million at the current exchange rate) in three startups, Cosmeto Food Organic, Zeleno and Playtoome.

Risers Accelerators includes 35 investors based in Delhi. The startups that the accelerator has backed deal in the clean-tech, ecommerce and tech-enabled entertainment sectors. 

The accelerator has invested Rs 2 crore (around $282,680 at the current exchange rate) in Cosmeto to facilitate product distribution. An ecommerce platform for cosmetics founded in 2017, Cosmeto exports products to over 35 countries.

Zeleno is a clean-tech startup that makes reverse vending machines capable of collecting waste in exchange for rewards like discount coupons, digital wallet money and free WiFi access. Risers Accelerators holds 10% equity in Zeleno. 

Zeleno has secured a contract from Rail India Technical and Economic Services (RITES), a division of the central railway, to install machines on platforms. 

Risers has invested Rs 4 crore (around $565,371 at the current exchange rate) in Playtoome, a technology-enabled entertainment platform. 

Founded in 2017, it claims to have over 3,500 artists on its platform. Users can view concerts conducted at the Playtoome venue in Bengaluru on their mobile devices, laptops and tablets. The startup is planning to bring five million customers on its platform in the next three years. 

A number of startups have raised venture capital funding from accelerators recently.

Rooter Sports Technologies, a sports engagement platform, raised Rs. 3.5 crore (around $494,620 at the current exchange rate) from leAD, a sports accelerator programme. 

Venture Catalysts launched an accelerator programme called 9Unicorns to help startups from domains as diverse as electric mobility, retail and FMCG. The accelerator will also function as a fund with a corpus of  Rs 300 crore (around $42 million).