Hyderabad-based startup incubator T-Hub has chosen 31 startups for the first batch of its funding-focused programme T-Angel from sectors such as health-tech, ed-tech and enterprise technology.
The selected startups will receive opportunities to raise funds from angel investor platform LetsVenture, angel networks and venture capital funds through the programme, which was launched in August 2019.
“With over 11 seasoned investment partners on board, the startups will get funding-focused mentorship that will make them investment-ready and boost early-stage investments in Telangana,” a statement said.
Abda Digital, Cantilever Labs, Ideanz, Kahaniya, MovingNow, Needyin, Pax Credit, Relgo, Syntizen, Waste Ventures and Younify are some of the selected startups. At least 10 of the total selected startups will receive funding.
“T-Angel creates the most appropriate environment for hungry entrepreneurs to connect with the right set of investors that T-Hub and LetsVenture have got on board for the programme. We are excited about the interest received from leading investors, angel networks and VCs to mentor our startups in scaling up their investment journey,” Ravi Narayan, CEO of T-Hub, said.
Other than funding, T-Hub and LetsVenture will provide mentorship to the startups on investor presentations, financial modelling, due diligence and refining growth strategy. The selected startups are eligible to be listed on LetsVenture’s investment platform, which claims to have enabled over 190 startups to raise $85 million in the past six years.
LetsVenture is backed by venture capital firm Accel, Tata Group emeritus Ratan Tata, Infosys founder Nandan Nilekani and executive Mohandas Pai, Sequoia Capital MD Rajan Anandan and People Group founder Anupam Mittal.
“T-Angel cohort participants are about to get a strong curriculum of group sessions as well as one-on-one interventions from the LetsAccelerate team to help them prepare for fundraising,” Shanti Mohan, founder and CEO of LetsVenture, said.
Founded in 2015, the firm claims to have provided over 1,100 national and international startups with access to better technology, talent, mentors, customers, corporates, investors and government agencies. It works closely with the Telangana government and other stakeholders for next-generation products and new business models.
In November, T-Hub launched a fintech accelerator programme in partnership with the National Payments Corporation of India. In October, it launched Trestle, an initiative for growth-stage startups and also signed a deal with two New Jersey-based firms Choose New Jersey and VentureLink for access to Indian startups in the US state.