Upekkha Funds 29 B2B Startups For Its Accelerator Program
Upekkha mentioned that it now has a community of over 250 founders and more than 125 startups. The first cohort of startups achieved a 100 per cent hit rate in reaching USD 1 million ARR
Upekkha, a SaaS accelerator and fund, has selected 38 startups from over 500 applications for its accelerator program, despite funds slowing down across the globe. Out of which it funded around 29 startups last year. It has funded startups in prominent sectors such as EdTech, SalesTech, MarTech, HRTech, FinTech, HealthTech, and Healthcare. The major categories these startups focus on include Real Estate CRM, Visual Tools, Voice AI, Online learning, Consumer Data Platforms, and UX Monitoring, as well as knowledge management and work OS.
In a statement, Upekkha mentioned that it now has a community of over 250 founders and more than 125 startups. The first cohort of startups achieved a 100 per cent hit rate in reaching USD 1 million ARR (Annual Recurring Revenue), and 90 per cent of the initial 20 startups continue to grow at a rate of 50 percent year-on-year.
Based on their experience of working with hundreds of startups, Upekkha's Partner, Prasanna Krishramoorty, states, "Indian SaaS founders usually have limited access to capital. Therefore, they build startups that inherently prioritize capital efficiency from the very beginning. This approach helps them navigate challenging times and, in fact, thrive in the current economic environment."
According to the EY and Upekkha 2023 report, which surveyed 140 CXOs, Indian SaaS companies are inherently capital efficient and remain strong despite macroeconomic troubles. The study reveals that 80 percent of the Indian SaaS companies examined earn more than USD 10 million and have a burn multiple under 1.5x.
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