Hyderabad-based seed fund, Utthishta Yekum Fund has bought a 9 percent stake in start-up, Vaave for a deal amount of INR 25 lakh.
Vaave is startup promoted by Coherendz India Pvt Ltd, that helps educational institutions to build an exclusive networking portal for their alumni. It includes features such as alumni profile, alumni fund, events & reunions, jobs & internships, news makers & achievements, discussion boards and more. The firm also offers an AlmaStore merchandise store that enables an educational institutions to sell their official merchandise by setting up an online store.
Its other offerings are a placement and training portal, an event registration system and a student’s portal. About 50 institutions are using the portal to connect their old students, as per a BusinessLine report.
Utthishta Yekum Fund provides knowledge in a variety of areas that is required to run a firm and has the option to invest further in the start-up. It is providing seed fund along with mentoring in a business accelerator environment to early stage startups. In 2012, it raised its debut fund targeting USD 9.2 million to invest in technology start-ups.
Image Source: Vaave website