Updated February 15th, 2024 at 19:35 IST

PedalStart launches Series 2 fund for early-stage startups

The startup accelerator has secured $250,000 for 5-7 such firms

Reported by: Business Desk
Startup Representative | Image:Pexels
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Seed accelerator: Startup accelerator PedalStart has announced the commencement of its Series-2 fund worth $250,000 for early-stage startups,  the company said on Thursday.

The funds will be deployed towards 5-7 such promising firms, who have three to six months of progress. 

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PedalStart said the startups will be selected after a rigorous selection process, and scrutinise the growth trajectory and scalability potential of each participant.

The community for the startup accelerator has grown to 10,000 startups, over 300 mentors and 1600 founders.

Founded in 2021 by Manas Pal, and Aditya Darolia, this is the second series fund after PedalStart’s inaugural internal company fund launch of the same amount as this time.

Manas Pal, and Aditya Darolia said, "The infusion of funds from our Series-2 initiative will catalyse these startups to propel their growth and realise their vision.”

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According to data platform Tracxn, the Gurugram-based incubator invests in sectors such as Food and Agriculture Tech, Enterprise Applications. With a portfolio of 5 companies, their latest investment was a seed round in BetterSpace in December last year.

The company said it is also looking to invest in robotics, deep-tech, medical science, and others.

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Published February 15th, 2024 at 19:35 IST