Axilor, a Bengaluru based platform for supporting early-stage startups, has opened applications for its accelerator programme starting in September. It is looking to induct up to 15 startups in the upcoming batch.

Axilor, whose founders include Senapathy ‘Kris Gopalakrishnan and SD Shibulal of Infosys fame, had inducted nine startups in its previous batches. Axilor will also be expanding its investment portfolio to 12-15 startups this year. The platform supports entrepreneurs in their first 24 months, helping them move from idea to scale.

“The philosophy has been validated, three batches are over, feedback has been positive, 20 companies have gone through the accelerator programme,” said Kris Gopalakrishnan, Chairman of Axilor.

“Six have been funded by Axilor and some have got other funding. Overall, we have made 12 investments to date. We have fine tuned the programme, we are confident that our value addition is relevant and benefitting and, hence, we are increasing this batch size to up to 15.”

Axilor, which concentrates on the e-commerce, health-tech and clean-tech sectors, has invested in 12 startups over the past 18 months.

The selection process for the flagship accelerator programme, which lasts for 100 days, is rigorous and takes in less than 4% of applicants. At the end of 100 days, most startups achieving the programme goals get funding of up to Rs 25 lakh.

“We are extremely happy to see the results of the 100-day accelerator programme and the difference it has made to startups. The programme has allowed them to move with three to five X speed, gain good traction and get funding faster,” said Ganapathy Venugopal, CEO of Axilor.

The Axilor portfolio includes events listing platform Events High, home repair services platform EasyFix, e-commerce marketplace solutions provider Sellerworx, emergency medical platform MUrgency and social payment app PaySay.

Applications for the accelerator program will close on August 19.

Source: The Economic Times

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