An early-stage technology-focused fund, Silverneedle Ventures (SNV), announces the launch of the INR 100 Crore Fund. The fund made its first investment in the creator monetization platform Knorish. SNV has invested an undisclosed amount in a Pre-Series A funding round extension round of the startup. The round is backed by marquee investors such as Andrew Holland, Bharat Serum Family Office, IPV, Mumbai Angels, and Jet Synthesys.
SNV is a sector-agnostic early-stage technology fund that partners with entrepreneurs to increase their probability of success through an active, hands-on approach. The fund aims to invest in pre-Series A or series A rounds of early-stage startups focused on business-to-business (B2B), software-as-a-service (SaaS), deeptech, sustainability, and D2C/Consumer Internet, among a few other sectors. The fund is founded by the founders of Xseed Partners, Ajay Jain and Deepesh Agarwal.
On the funding announcement, Kinner N. Sacchdev, Co-founder and Chief Executive Officer (CEO), Knorish, said, "When the creators are set on their monetization journey, their biggest challenge is not content creation or basic setup. The challenge, instead, is building sales funnels, which Knorish aims to solve. We are extremely excited to partner with Silverneedle Ventures, and the team is already working harder towards closing our Series A round. "
Knorish, the first investment of the fund, aims to utilise the fund by expanding and growing its business into new markets while planning to onboard more creators and using the rest of the fund to enhance its tech ability. Currently, the startup has a team of 32 people in technology, sales, customer success, content design, and marketing. The startup is tapping a market of 80 million creators and knowledge professionals in India who can eventually convert their skills into a creator business.