Indian Institute of Technology, Madras Incubation Cell incubated startup YNOS Venture Engine has raised Rs 2.50 crore in seed funding, the company said on Tuesday.
The business intelligence and analytics platform provider, for innovation and startup ecosystem, in a company statement here, said it raised Rs 2.50 crore seed funding following its selective approach to individual investors who are passionate about enabling the early-stage ecosystem, thereby inviting them to invest.
YNOS received seed funding from distinguished business leaders including Arun Jain, Lakshmi Narayanan, Sarath Naru and Prashanth Prakash. The funding received would be used to further scale technology investments and strengthen ongoing business development activities, the statement said.
“Our mission is to create a fundamental impact on early-stage ventures through our unmatched intelligence on the startup ecosystem.. the versatility of our smart platform makes it a relevant solution not only addressing the pain points faced by early-stage entrepreneurs but also investors, institutions and all stakeholders”, YNOS Venture Engine co-founder and IIT Madras professor Thillai Rajan A said.
“As one of India’s leading incubators with over 240 deep technology startups, we are keenly aware of the challenges faced by early-stage technology entrepreneurs, especially in raising investment and finding matched mentors. Services offered by YNOS are addressing some of these critical issues..”, IITM Incubation Cell, CEO, Tamaswati Ghosh said.