Upekkha Up Funds Invest in Eight SaaS Start-ups to Drive Industry Growth – The New Indian Express
BENGALURU: In order to stimulate the growth of SaaS (Software as a service) of Indian origin, a start-up fund, Up Funds, of Upekkha Value SaaS Accelerator, has invested in eight SaaS start-ups. It aims to invest $ 10 million in 100 start-ups each year. Funding between $ 100,000 and $ 200,000 per start-up will help founders overcome growth bottlenecks at an early stage.
The funded start-ups are Kloudle’s cloud security automation platform, VideoForm which helps brands engage with customers via personalized videos in a post-pandemic world; IOTRL which helps corporate health and safety officials reduce road accidents in field sales and service teams and Urban AI which uses computer vision to capture the data points needed by city planners .
He also funded EnrichVideo which works with banks and wealth management companies to create engagement solutions; Bynry, a cloud-based platform for small and medium-sized utilities; GOVeva, which offers companies new generation digital board management solutions; and OceanFrogs, a business intelligence platform for SaaS companies.
In 2020, India SaaS had 1,000 funded companies, with a combined revenue of $ 2-3 billion and also employed nearly 40,000 people. “By 2030, the sector is expected to reach a valuation of $ 1 trillion, with combined revenue of $ 50-70 billion, and will generate 5 lakh of new jobs. Start-up investors like Up Funds will fuel the growth momentum, ”said Prasanna Krishnamoorthy, co-founder and partner of Upekkha.
Upekkha launched Up Funds in January 2021. Over the past 4 years, it has accelerated more than 70 start-ups, six of which have crossed $ 1 million in ARR. Uprekkha investors include Freshworks CEO Girish Mathrubootham, G2 Crowd CEO Godard Abel, Grasshopper founder David Hause, and Vymo CEO Yamini Bhat, among others.