The big firms of India are now providing support to startups that are striving at the early stage of their venture. One of the firms is iCubesWire Technologies Pvt Ltd, which is based in Gurgaon. The company is offering $3 Million funds for the early stage startups.
The company is majorly seeking to invest in the firms that are driven by automation and artificial intelligence. It has decided to deliver the funds across 4–6 startups by the end of 2017. The average ticket size of the investment will be somewhere $500,000–7000,000.
“We are in the phase of early stages of creating a product on our own and have grabbed some success. We also have some noteworthy cash reserves, which we intend to pour in the startups that bridge with our expectation in terms of the product model,” said CEO and Co-founder of iCubesWire, Sahil Chopra.
Earlier, Chopra had stated that although digital marketing was in statistical succession, there were some spaces that created important opportunities.
The company also intends to partner with other investors in supporting the qualified candidates, who have clear vision and perspective.
The company was established in 2010, and since then it has a vast network across the country and more than 400 brands that belong to diverse sectors such as technology, e-commerce, travel, financial, automobile, and hospitality. The firm helps to provide customized digital concepts for the brands they function with.
The company has loads of big entities in its client portfolio, which include Tata Group, Standard Chartered, Procter & Gamble, GoAir, Domino’s Pizza, American Express, Kotak Group, Axis Bank, HDFC Bank, Skoda, Etihad, AirAsia, Amazon, McDonald’s, Flipkart, Qatar Airways, ICICI Bank, Honda, and Ford.
Chopra declined to share the financial information of the firm. iCubesWire runs number of accelerator programs and funds for early-stage startups in the country that have recently come up.
In this month, Taizo Son, SoftBank Group founder Masayoshi Son’s younger brother, has introduced an accelerator program that is focused on agri-food tech with an alliance with GSF Accelerator from Gurgaon and Infobridge, an Indo-Japan business consultancy.
This funding in early-stage startups will give a push to the evolving firms in India and groom them in well-established manner.