India focused venture capital investment firm Unitus Seed Fund, which intends to work with mass startups, has landed a funding of over $5.7 million. The funding has been received with an aim to double its investments.
The new investors, including Anil Rai Gupta of Havells, Harsh and Rishabh Mariwala of Marico, as well as Ajay Parekh from Pidilite , and some others have pooled Rs12 Cr for the fund. Besides, KK Natarajan of Mindtree, Vikram Gandhi from VSG Capital/Asha Impact and Pramod Bhasin of Genpact have also participated in this round of investment.
Unitus has invested in 16 companies, including four education firms (Hippocampus Learning Centres, iSTAR, Curiositi and Cue Learn) and four healthcare companies, including Welcare Telemed and Address Health so far, and it intends to invest in 12-16 more companies in the near future, as reported by ET.
Unitus Seed Fund was found in 2011 and has been registered as a Category-I, Venture Capital Fund under SEBI Regulations (Alternative Investment Funds) 2012. The company is based out of Bengaluru and Seattle.