Toronto-based start-up accelerator Ryerson Futures Inc (RFI) and Mumbai-based Chokhani Group, have launched a USD 15 million fund to invest in RFI’s Mumbai-based startup accelerator Zone Startups’ early stage technology businesses in India.
As per a VCCircle report, the fund will invest between USD 50,000 – USD 500,000 in in 10-15 start-ups every year.
Started in February this year, Zone Startups has incubated 38 start-ups focused on data analytics, mobility, e-commerce, education, hardware, technology, human computing interface, mobile payments to healthcare. Zone Start-ups India works with 60 start-ups annually and its current portfolio include Focus Analytics, Bug Clipper, DrugIO, Intugine Technologies, ArtZolo, Underdogs Gaming Studio, BOOKstreet to name a few.
Chokhani Group is a family run business, that also owns two non-banking financial companies (NBFCs), which provide financial solutions to corporate customers. Anil Chokhani and Krishna Chokhani are serial angel investors and members of Mumbai Angels.