Mobile startup accelerator, Tandem has completed its third investment fund – Fund III with an amount of USD 100 million to invest in more start-ups from around the world. To become the part of the Tandem’s next companies, start ups can apply before January 19.
Start ups accepted into Tandem’s program begin with a USD 200,000 initial investment and also go to its Burlingame, California offices for a six-month mentoring program. After initial funding, it can invest USD 10 million or more in a startup. Previously, it backed startups like Bash Gaming, lost-item tracker Tile and PlayHaven which now known as Upsight.
In addition, Tandem has expanded the domain of our mobile acceleration program to include startups working on Internet of Things and connected devices. In 2013, we moved into a new office space, with an onsite hardware lab used for product research and development, Tandem wrote in its Blog Post.
In its current batch of start-ups, it had included 6 start-ups total including Los Angeles-based home monitoring drones Ctrl.me, Mobile content creation and messaging Doublie, Portugal’s smart cooking device Mellow, a smart swimming pool sensor and service PHin, Washington D.C. Sensies and Israel-based mobile matchmaking Right.
Started in June 2007 by technology entrepreneurs Doug Renert and Sunil Bhargava, Tandem Capital is based in Burlingame, CA. Till now, Tandem has raised two funds, firstly, a 12-million fund which got invested in nine startups and recorded seven exits. Secondly, USD 32-million fund raised in 2011, with investors like Ram Shriram, and Dan Cooperman, so far there have been no exits from it.
Image Source: Tandemcap.com