Gurugram-based India Accelerator raises funds from InvestMind Solutions and HotStart Ventures

Gurugram-based India Accelerator announced raising an angel funding from InvestMind Solutions and HotStart Ventures. While the amount was undisclosed, the mentorship-driven incubator plans to diversify its offerings, expand globally and invest early-stage startups.

Invest Mind is an investment firm based in India. Singapore-incorporated private company, HotStart Ventures is also looking to invest in Southeast Asian startups.

India Accelerator (IA) is a part of Global Accelerator Network, a consortium of 85 accelerators from across the world. Founded in 2017 by Ashish Bhatia and Abhay Chawla the startup has completed two rounds of cohorts, mentoring numerous startups like GalaxyCard, Insurance Samadhan, Lawyered, CabBazar, and Null Pointer.

Speaking on the investments received, co-founder Ashish Bhatia said, “The investors bring a huge amount of network and connect to IA, which will help us progress with the original vision of setting up IA, i.e. to use its resources to continue helping entrepreneurs who are struggling to have fun and to make money for its investors along the way.”

Reportedly, India Accelerator made a seed investment worth around $150,000 from its second batch in six startups across sectors like fintech, artificial intelligence, transport and e-commerce.

“We see the investment in India Accelerator as a step towards backing the budding talents of one of the biggest Asian economies and the company aims to provide them with a springboard into the Asian startup scene,” Ankit Airon, partner at HotStart Ventures said.