India Accelerator raises funds from Invest Mind Solutions and HotStart Ventures to help startups

New Delhi, Aug 11 (KNN) Gurugram-based India Accelerator has raised an undisclosed amount in angel funding from India-based InvestMind Solutions and Singapore-based HotStart Ventures

The amount raised will be used to diversify its offerings, expand its reach, and engage more with growth-stage startups.

Talking about the investment, Ashish Bhatia, Founder & Managing Director, India Accelerator, said, “The investors bring a huge amount of network and connect to India Accelerator which will help us progress with the original vision of using its resources to continue helping entrepreneurs who are struggling, to have fun and to make money for its investors along the way.”

The funding comes after the accelerator has completed acceleration programs for its two cohorts.

 The startups in its first cohort include an algorithmic trading platform Kuants, CabBazar, EValk, home appliance rental platform Voko, Wish-a-mitr, and Gurugram-based SaaS solutions provider Square1.

India Accelerator has invested around ₹1 crores ($150,000) in these startups, and it has also announced that they will be able to take advantage of its co-work, co live, and startup academy, during the course of the program.

Startups selected in its second cohort include GalaxyCard, Insurance Samadhan, Lawyered, NullPointer, Queued, and EGA.

Founded in 2017 by Ashish Bhatia and Abhay Chawla, India Accelerator is a co-working space provider and seed-stage accelerator that helps startups to grow by leveraging its network and technology, along with offering mentorships and other peripheral services like financial and legal assistance.