EvolveX, a startup accelerator headed by We Founder Circle (WFC), an early-stage start-up investment platform, has announced a target to invest in 50 ventures by year’s end. The flagship accelerator will provide $20–30K in seed funding to early-stage startups to empower them to raise up to $100K during the program .
EvolveX was started in March 2022 and completed the year with the closure of its second cohort, which mentored and funded 14 startups. To date, it has invested half a million dollars in startups, and for 2023, the accelerator plans to invest up to $1.5 million through its EvolveX program.
Additionally, it has set its sights on a total of four cohorts, encompassing a total of 36 startups. In the running year, it already successfully completed Cohort 3 in April 2023. The fourth cohort is set to commence in June 2023.
“Through our comprehensive support system, including substantial seed funding, access to seasoned mentors, and a thriving community. We expect most of our accelerator companies to go on and build big, sustainable businesses, and we will continue to fund their future rounds,” said Bhawna Bhatnagar, Co-Founder, EvolveX.
Cohorts
The cohorts encompass startups from sectors including EdTech, Automobile Marketplace, Electric Vehicles (EV), Direct-to-Consumer (D2C), Software as a Service (SaaS), Robotics, FinTech, Augmented Reality/Virtual Reality (AR/VR), AgriTech, MarTech, and Health Tech.
“With EvolveX, We Founder Circle has broadened its impact at pre-seed and seed-stage startups. The idea is to give funding visibility to early-stage entrepreneurs from pre-seed to up to angel rounds, along with active mentoring and business support,” said Neeraj Tyagi, Co-Founder and CEO, We Founder Circle.
In Cohort 1, a total of six startups were covered, including Uma Robotics, Student Ink, OLL, Motozite, ParkMate and Humors Tech, followed by eight startups in Cohort 2 including EV India, The Energy Company, UCliq, MetaBook XR, MeriGarage, Get Plus, PrintBrix and WildLeaf. In its third cohort, EvolveX included seven startups: Krishivan, DeltaFour, Himshakti, HealthQ Rehab, My Era, Nikol EV, and Rupid.
Published on May 24, 2023
