Hyderabad-based early-stage venture capital firm, Endiya Partners which was founded by Sateesh Andra, Ramesh Byrapaneni and Abhishek Srivastava, has raised $15 million in its first round of funding. The raised funding will be used to make investment in startups across technology, consumer internet services and healthcare sectors and each investment will be in the range of $1-1.5 million for a 20% stake in the company.
Going forward, the firm plans to raise $30 million from 5-6 partners and will be utilised to fund nearly 25 companies over the next three years. “This year alone we will be investing in close to 10 startups. For the technology start-ups, we will look at companies in the sector of IoT, SAAS, electronics and semi conductors,” said Andra.
The firm has so far invested in crash analytics startup for mobile apps Hansel and led pre-Series A round in food technology company innerChef.
“As an early-stage venture capital firm, we don’t just provide funding. We believe in ‘co-creation’. Like Himalayan Sherpas we hand-hold startups and lead them to scalable businesses through idea/market validation, team building, business model refinement, customer/partner acquisition and follow-on funding,” the firm mentioned on its site.