Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2012-09-22

Gaurav Kachru, Pearl Uppal to start seedfund cum accelerator programme for tech start-ups

Gaurav Kachru, former CEO and co-founder of Dealsandyou, and his wife Pearl Uppal, former co-founder and CEO of Fashionandyou, will be launching their new business, 5ideas. A combination of seedfund and accelerator programme, 5ideas will invest in online

Gaurav Kachru, former CEO and co-founder of Dealsandyou, and his wife Pearl Uppal, former co-founder and CEO of Fashionandyou, will be launching their new business, 5ideas. A combination of seedfund and accelerator programme, 5ideas will invest in online and mobile start-ups.

“5ideas is a brand behind the ventures we will set up in tech start-ups ecosystem in India. It is an accelerator cum seedfund that will work in mobile and Internet space and will be a platform where founders, investors and mentors will help start-ups to gain traction,” Uppal told SMEntrepreneur.

5ideas will invest with a seedfund of up to Rs 2.5 crore per company and will work with up to six start-ups for a period of six months. “The funding will be given for six months at a time over a period of 6-12 months, and 5ideas will work with them as a partner to help them get into the next level of institutional round of funding,” said Kachru.

“Companies having a proof of concept would be supported in their product and customer acquisition, working on unit economies and fund raising in series A,” Uppal added.

5ideas is looking to raise $10 million, of which a partial amount has already been raised from both domestic and foreign investors. The company will start investing by December end or early January, next year.

Talking about the kind of tech start-ups 5ideas is looking to invest in, Kachru said, “We are looking for companies that are growing, providing meaningful solutions to the problems through businesses and looking for meaningful and large opportunities. Moreover, the current solutions that they are working on should be in the right direction and have products with early customer traction.”

“They need to be capital-efficient also because we are looking for businesses that do not need much capital to show results,” said Uppal.

5ideas is looking to work across the country, said Kachru.

Related opportunities
  • Gyms and Fitness Centres
    About Physc Gym :-PhySC Gym is one of the fastest..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2017
    Investment size Rs. 50lac - 1 Cr.
    Space required - 3550 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
  • About:Started in the year 2000 in Chennai, Children’s World Montessori..
    Locations looking for expansion Tamil Nadu
    Establishment year 2000
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Chennai Tamil Nadu
  • About:Client is into business in relation to pharmacy and wellness..
    Locations looking for expansion West Bengal
    Establishment year 2012
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Kolkata West Bengal
  • Financial Investment & Trading
    About:Basan Equity Broking Ltd , Basan Commodity Broking Ltd and..
    Locations looking for expansion Telangana
    Establishment year 2007
    Franchising Launch Date 2017
    Investment size Rs. 50 K - 2lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Hyderabad Telangana
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities