Each company selected for the program will receive up to Rs. 30 lakhs in funding without having to give up any equity.
Peesh Venture Capital (PVC)’s PVC Accelerators program, focused on Ad Tech, E-Commerce, Gaming, Mobile Apps, Education, Enterprise Software, Wearables, and Internet of Things (IoT), announced its first batch of 5 start-ups. Each company selected for the program will receive up to Rs. 30 lakhs in funding without having to give up any equity.
The first batch for the 6 month long program which consists of 5 startups was selected from a pool of 500 applications from across cities in India. As a part of the accelerator program, these startups will gain access to one of the strongest networks of mentors and leaders in their respective fields. The PVC Accelerators have been designed to assist entrepreneurs in securing additional funding by building real businesses with healthy gross margins.
The five startups are:
• CollegeBol is India’s first social & one-stop college selection platform. The Ahmedabad-based company is co-founded by Arastu Zakia, a passionate young entrepreneur, who founded his first organization at the age of 18 and secured funding from American Embassy and others. He was also selected by the US government for the IVLP leadership program which has prestigious alumni – Tony Blair, Vajpayee, and Indira Gandhi).
• Madpiggy is a Gurgaon-based advertisement app which allows Merchants to publish exciting deals and the users in a particular defined area can view and avail those deals. Madpiggy is co-founded by Abhishek Kumar who is an IIT & ISB alumnus.
• SenseGiz makes innovative consumer electronics products in the Internet of Things & Wearable tech space. The Belgaum-based company has been co-founded by Abhishek Latthe who has done his Masters in Mechatronic.
• Transtutors is a Delhi-based internet’s largest academic Question & Answer bank provider that is aimed at providing students assistance to do homework via online Tutors who are available 24X7. Co-founded by Aditya Singhal, an IIT graduate who looks after the product technology, online marketing, SEO and development of the company.
• RocketFood is a food delivery and takeaway service with an experience that believes that Indian food can be delicious and healthy & high-quality as well as affordable. Founded by Abhineet Kumar, an IIIT Hyderabad CS dropout, who has worked with Mast Kalandar and iStrategyLabs (Washington DC) and is a Kairos Society Fellow. RocketFood is based out of Delhi.
The official release stated that the chosen startups shall be guided across legal services, finance and accounting, HR, product development, sales and marketing, and operational guidance amongst other resources, as needed.