09 January 2020:
Early-stage investment firm Venture Catalysts has made strategic investment in open innovation and corporate venturing platform IncubateHub.
This investment is in line with Venture Catalysts commitment to nurturing startups that adds value to the overall startup landscape in India.
Dr. Apoorv Ranjan Sharma, President & Co-Founder, Venture Catalysts, said, “The corporate innovation market in India is growing rapidly, and we wanted to address the gaps that exist in the market through this strategic investment in IncubateHub. By bringing established companies and startups together, IncubateHub is helping the former to overcome the barriers to enterprise innovation.”
Dr. Apoorv Ranjan Sharma, added, “At the same time, it brings a great opportunity for our startups to work closely with successful corporates and experienced professionals to test, pivot and validate their ideas and bring them to life in a real-world scenario. This is a win-win solution for both parties, which would also give huge fillip to India’s startup ecosystem.”
Anuj Golecha, Co-Founder, Venture Catalysts, said, “The fact that both VCats and IncubateHub are driven by a single vision, i.e. to empower the startups in India, is what inspired us to take this investment decision. Moreover, there are vast and complementary synergies between two businesses, and therefore the expansion of both is set to happen hand in hand. We are confident that this association will prove to be beneficial for large corporates and up-and-coming startups alike.”
Rajiv Mukherjee, Co-Founder, IncubateHub, said, “IncubateHub has been growing at 66% CAGR for the last 4 years with annual revenue of INR 2 crore for FY 2018-2019. Given our exponential growth since inception, it is now the time to increase our operational capacity and expand our footprint globally. The capital infusion from Venture Catalysts comes at just the right time and it will help us further bolster our presence in the market.”
IncubateHub was founded by Rajiv Mukherjee Uday Vipra and Pradeep. It connects large corporates with a curated community of deep tech startups to help them create proof of concepts, accelerate solution development, drive digital transformation and build capacity.
(Image – Venture Catalysts)