Chennai-based social business incubator, Villgro has invested in seven new start-ups which include- Kamal Kisab, Flybird Innovations, VectorDoc, SustainEarth, SkillTrain, MicroX Labs and Bempu. Each start-up has secured funding in the range of INR 10-15 lakh. This takes Villgro’s investment and incubation portfolio to 10 companies and all the start-ups are working in the sectors like healthcare, energy, agriculture and education.
According to an ET report, all seven start-ups’s products are currently under development that will be ready for launch over the next six-nine months. And, the new funding will be used for “finishing touches to product and take it to market,” said P R Ganapathy, chief operating officer, Villgro.
Also, Villgro is launching a social impact fund next year with a total amount of INR 20 crore. It also has a commitment of Michael & Susan Dell Foundations which had invested an undisclosed amount in the fund last month to incubate and provide seed funding to at least a dozen companies that are focused on education space.
Paul Basil founded Villgro in 2001 with an aim of incubating early-stage businesses and now plans to invest in 25-30 companies by end of this fiscal. It has incubated over 100 enterprises, secured INR 873 million funding and touched more than 6.8 million lives in India.
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