Under this program, selected firms will receive up to INR 3 crore in financing and in-depth mentoring from the industry veterans. Startups will have the potential to secure further follow-on finance from the Caret finance. Caret Capital, founded in 2020 by Prajakt Raut and Karan Mittal, is an early-stage fund that invests in sustainability-focused entrepreneurs.
Caret Capital, a Gurugram-based venture capital (VC) firm, has established the Caret360 Accelerator, a 100-day outcome-focused program for early-stage entrepreneurs.
A maximum of INR 3 Cr in investment and comprehensive mentoring from industry veterans will be given to selected entrepreneurs under this initiative. In addition, the entrepreneurs will have easier access to Caret’s CXOS ecosystem.
Caret Finance will also provide startups with additional follow-on finance, according to managing partner Prajakt Raut.
Caret360 Accelerator will invest in and mentor businesses from Caret Capital’s three main areas: smart mobility, distribution/supply chain, and employment/employability.
A strict selection procedure is also in place at Caret360 Accelerator in order to choose a select group of outstanding startups. The selection process comprises several stakeholders, including other VCs, corporations, and domain experts, and picks as little as 1% of all startups that apply.
Previous cohort companies such as Celcius Logistics, Just Deliveries, and others have raised follow-on money from both the fund and other well-known venture capital firms. For example, earlier last month, Caret Capital invested in Celcius Logistics’ INR 40 crore Pre-Series B investment, which was led by IvyCap Ventures.
According to Inc42, “Caret provides timely capital, aggregates and makes accessible industry expertise, imparts skills through mentorship, and helps startups improve their chances of success,” stated Sandip Das, co-chair of Caret Innovation Lab and Caret Accelerator.
Caret Capital, founded in 2020 by Raut and Karan Mittal, is an early-stage fund that invests in sustainability-focused entrepreneurs. Last month, the firm partnered with the EV2 to launch a new $50 million India-focused fund.
Caret Capital Fund II, a new fund, will invest in early-stage Indian entrepreneurs (pre-Series A) in three sectors: Incorporate the mobility, distribution and employment. The corporations, in a joint statement, added that they had already received commitments from anchor investors for the new fund.
Caret Capital made two investments in April: SuperProcure, a logistics platform based out of Kolkata, and TraqCheck, a background verification services provider in which Lenskart founders and CEO Peyush Bansal also participated.
