Sharma plans to use the raised funding to reinforce the current portfolio
India’s startup ecosystem enabler with global funding plans, Marwari Catalysts aims to raise US$10 million at a valuation of US$90 million, following on to its undisclosed amount raised from last round at a valuation of US$20 million.
“The idea behind launching Marwari Catalysts was always to provide a strong accelerator network and build India’s most founder and investor friendly ecosystem as we believe that the main game relies on the founders and the founding team,” said Sushil Sharma, Founder & CEO, Marwari Catalysts.
“So, today as we enter the next stage of our evolution, we feel that the financing milestone will be a testimony to our journey of innovation and disruption,” he said on 16 June 2022 from Jodhpur.
The accelerator plans to use the raised funding to reinforce the current portfolio, accelerate the progress towards a digital and self-reliant India, enable global reach and engage more with growth stage startups while also offering mentorship and peripheral services.
The strategic concept behind the present fund raise is to strengthen the accelerator’s position as market leader as stakeholders plan to expand their offerings globally.
It continues to help young entrepreneurs with the right mix of capital, know-how and networks to build enduring businesses, Marwari Catalysts said.
To date, Marwari Catalysts has built a portfolio of over 40+ startup companies since 2019 and continues to seek companies that are capturing new markets, providing innovative solutions and creating new wealth for India and beyond.
Therefore, after the fund raise, Marwari Catalysts seeks to be a 100+ startup portfolio company.
The last round had participation from existing and new shareholders, Sandeep Gulati (CEO – South Asia & MD – India at Egis), Yogesh Chaudhary (Founder – Jaipur Rugs), Nitin Sethi (CDO – Adani Group), Ankur Mishra (Director – Central Academy), Ashutosh Gehlot (Promotor, OS Group) and Manish Singhvi (CFO – Marlabs Inc), the company said in a statement. fiinews.com
