your password has been reset successfully, Please login again.

Blume Ventures ties up with two US firms for startup accelerator, funding platform

The Mumbai-based venture capital firm has more than 40% of its portfolio companies in the B2B segment.
BY BEx Bureau
Jul 16, 2018

Early-stage venture capital firm Blume Ventures has teamed up with two US-based funds to launch an accelerator-cum-fund platform to invest in business-to-business startups in India.

Arka Ventures Labs is anchored by Blume, Benhamou Global Ventures (BGV) and Emergent Ventures. It will provide seed and pre-seed capital of up to $200,000, Blume said in a statement.

The platform will also offer mentorship, infrastructure and access to the Silicon Valley ecosystem that is critical for scaling up B2B startups in the US, it added.

Indian startups, after operating three to four years in India and having established their client base here, start looking at how to approach the US market, said Arka Venture CEO and managing partner Radhesh Kanumury. Arka Venture Labs will accelerate their presence in the US, which has more breadth and depth in market, lesser sales cycles and higher margins, he added.

This platform is only open to B2B technology startups that have a minimum viable product with a strong potential in the US or European region, the statement said.

Cross-border technology startups used to be a rare exception. They are now a way of life and the principal source of innovation among VC-backed companies, said Eric Benhamou, founder and managing partner of BGV. India is now the most exciting new frontier of this trend, he added.

Blume Ventures, co-founded by Karthik Reddy and Sanjay Nath, has 80 active startups in its portfolio and has invested in 110 firms in the eight years since it set up shop.

The Mumbai-based venture capital firm has more than 40% of its portfolio companies in the B2B segment. Some its B2B bets include Minjar Cloud Solutions Pvt. Ltd, which operates a cloud computing platform; Grey Orange Robotics, which develops warehouse automation systems; WebEngage, a user engagement platform; and DataWeave, a business intelligence startup.

The venture capital firm is on the road to raise $80-100 million (Rs 520-650 crore) for its third fund.

BGV is a Silicon Valley-based early-stage venture capital firm. It has 23 companies in its portfolio and has exited 16 companies, according to its website.

Emergent Ventures is an early-stage venture capital firm that invests in IT, particularly enterprise tech such as IT infrastructure, data management, security and business applications, its website shows. The firm backs startups in Silicon Valley and India and invests from the seed stage till the Series A round.

Please add your Comment
November 20, 2018
Through this investment, BillDesk will develop new product lines for its payments and loyalty busine ...More
By Vaishnavi Gupta
November 19, 2018
Ananth Narayanan, Chief Executive Officer of Myntra, will continue to lead the team. ...More
By Vaishnavi Gupta
November 16, 2018
This acquisition will help FarEye to reinforced its growth plans to solve challenges for long-haul a ...More
By Vaishnavi Gupta
November 14, 2018
True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votoranti ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
November 12, 2018
With this acquisition, Mphasis will increase its end-to-end capabilities in the public cloud domain, ...More
By Vaishnavi Gupta
November 12, 2018
This acquisition will help Mumbai-listed AGC to add over $600 million in annual revenue and about 3, ...More
By Vaishnavi Gupta
November 09, 2018
The acquisition is in line with the company's strategy to boost the value for its stakeholders throu ...More
By Vaishnavi Gupta
November 03, 2018
Viithiisys, with this acquisition, will expand its product portfolio and list of clients. ...More
By Vaishnavi Gupta
November 02, 2018
Post acquisition, W12 Studios will be a part of TCS Interactive, the digital division of the IT serv ...More
By Vaishnavi Gupta
November 01, 2018
The fresh funds will be used by Turms to expand its product categories, hire tech talent and launch ...More
By Vaishnavi Gupta
October 31, 2018
The funds raised will be used by Duroflex to expand to new markets across India. ...More
By Vaishnavi Gupta