Risers Accelerator promises funds for startups working on Covid-19 solutions

Risers Accelerator promises funds for startups working on Covid-19 solutions
Photo Credit: Pixabay
21 May, 2020

Risers Accelerator has announced that it will offer Rs 2 crore in funding to firms working on solutions to prevent Covid-19 spread.

The Delhi-based startup accelerator said it is conducting digital meetings to hear the pitches and shortlist companies for funding, according to a statement. 

Startups including Mylocal99, AskExperts, and LaunchMyDrug may be eligible for the funding, it added.

India’s Covid-19 tally breached one lakh mark in roughly 78 days. 

“We are hoping to attract and help as many people as we can through these startups that have emerged during this crucial time to help others. These are tough times that we are facing and the people who have stepped forward to help others should not be alone in this,” Pravin Khandelwal, partner, Risers Accelerator, said.

Read: Coronavirus India Updates

Founded in 2019, Risers Accelerator is a group of 35 entrepreneurs from diverse backgrounds. It provides startups with mentoring, along with financial, infrastructural, and knowledge-based support. 

In March, Youtube channel NuNu TV, built by animation studio Sprout Studios, raised Rs 50 lakh from Risers Accelerator. Last year in August, it invested Rs 11 crore (around $1.5 million then) in three startups, ecommerce platform Cosmeto Food Organic, clean-tech startup Zeleno, and technology-enabled entertainment platform Playtoome.

Last month, the Bengaluru-based research foundation Centre for Cellular And Molecular Platforms (C-CAMP) picked 13 ready-to-deploy startups that will work towards fighting the Covid-19 pandemic.