Mumbai-based venture capital firm 100X.VC has announced an investment of $2.7 million in 17 startups as part of its 11th cohort. This funding round is supported by Mehta Ventures, the family office investment arm of Sanjay Mehta. The firm continues to use iSAFE notes for these investments, maintaining its strategy of supporting early-stage startups across various sectors.
Total Investments by 100X.VC
With the completion of Class 11, 100X.VC has now made a total of 161 investments since it launched in July 2019. The firm operates on a class-based investment model, which means they invest in startups even before the official start of each class.
Selected Startups and Locations
For the 11th cohort, 100X.VC chose 17 companies from a shortlist of 307 startups, which were selected from a pool of over 1,500 applications. These startups come from eight Indian cities, including Mumbai, Bengaluru, Delhi, Pune, and Gurugram. The selected startups are Anyway.ai, Baylink, Deepvue.tech, EasyReplenish, FUTR Studios, GoCodeo, Hummsa Biotech, Kroto, Openleaf, Origgo, Orbit Wallet, Pet Chef, Pettle, The Naturik Co, Whitetable, Zircle, and Zafo Technologies.
Leadership Comments
Ninad Karpe, Founder & Partner of 100X.VC, expressed excitement about the new cohort. “We are thrilled to unveil our newest cohort, Class 11, which includes 17 groundbreaking startups. With these additions, our portfolio now includes investments in 161 early-stage startups,” he said. Karpe highlighted the diversity of sectors in this cohort, which spans B2B SaaS, API, Healthtech, ClimateTech, Food & Beverage, and Pet Tech. “We believe that India’s early-stage startup ecosystem is full of transformative potential, and the startups in Class 11 exemplify these promising opportunities,” he added.
VC Pitch Day Event
The new portfolio companies were introduced at the VC Pitch Day held in Mumbai on June 1, 2024. This event attracted over 400 investors, including High Net-worth Individuals (HNIs), family offices, venture capital funds, and corporations. 100X.VC has worked closely with each founding team, offering mentorship to enhance their product development and go-to-market strategies.
About 100X.VC
Founded in 2019 by Sanjay Mehta, Ninad Karpe, Shashank Randev, Yagnesh Sanghrajka, and Vatsal Kanakiya, 100X.VC is a sector-agnostic fund dedicated to nurturing early-stage startups. The firm is notable for being the first to invest in early-stage startups using India SAFE Notes, which provide a simple agreement for future equity. Through its innovative approach, 100X.VC aims to continue fostering growth and innovation in India’s vibrant startup ecosystem.
