Venture Partners, Stellaris have announced that they will be boosting Indian Tech Startups with $100 Million from its maiden closing. Contributions for the Indian tech startups came from corporate companies like Infosys, Entrepreneurs family offices from the US, Europe, Asia and from other financial institutions.
The Bangalore-based venture capital was founded 2016 by former Helion-partners Ritesh Banglani, Alok Goyal, and Rahul Chowdhri. Stellaris is an early-stage venture which focuses on funding Technology related Startups. The Series A-oriented fund will invest in local language online services, technology-led financial inclusion, and global SaaS businesses.
The main objective behind this is to build the network with the invested money. More than 50 entrepreneurs, as well as business professionals in India and abroad, will be benefitted by the contribution.
On investing in tech startups, Ritesh Banglani said, “Indian companies, over the last three to four years, have been able to crack the remote go-to-market strategy for SaaS. Our companies are now able to sell contracts of up to $50,000 value, from India over a phone or the internet. The finished products have also improved significantly. In the next 10 years In India, global SaaS businesses will create several billion dollar companies.”
Recently, Stellaris have made Series-A investment in a Gurugram-based tech startup Wydr, which is a mobile wholesale marketplace.
Other Series-A Investment made by Stellaris is in music tech startup- Indify. The startup is a discovery platform that assists the music industry in identifying new musicians.
Stellaris is also the first network with 50 entrepreneurs in its league, which include Aprameya R and Raghunandan G, Co-founders of TaxiForSure; Alok Mittal, founder of Indify; Aneesh Reddy, founder of Capillary Technologies. They also have investors and business leaders like Kanwaljit Singh, Founder of Helion and Fireside Ventures and Neeraj Agarwal, Head of the Boston Consulting Group,India.
Source: INDIAN CEO
