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Financial Services

Five Indian start-ups get funding from venture capital companies

Early-stage start-up incubator GSF Accelerator is investing between $100,000 and $200,000 each in five Indian start-ups, along with other venture capital firms such as Silicon Valley-based 500 Startups.

The five new ventures to receive funding include Bangalore-based analytics start-up Little Eye Labs, programmer recruiting firm HackerEarth, mobile app maker ZAPR, Tushky and WeAreHolidays— both help customers in planning vacations.


“We selected these start-ups on the basis of founders’ profile and management team, market and product potential and traction, valuation and co-investor profiles also were of importance,” said Rajesh Sawhney, founder of GSF, which was started in November 2011.


GSF said it received applications from more than 500 start-ups across the country and shortlisted 13 for an initial round of funding of Rs.10-15 lakh each. Of the 13 that were shortlisted, seven were nominated for an additional round of funding. GSF selected four out of the seven and picked one other start-up—WeAreHolidays, which did not go through the initial accelerator programme—for the second round of funding, along with other investors, such as Blume Ventures and Mumbai Angels.

To read the ful article as it appeared on the Live Mint website click here