WeKan seems to incubate, fund 20 Indian startups, Expertise Information, ETtech
New York-based product accelerator WeKan plans to incubate and fund about 18-20 startups within the ‘future of labor’ house in India.
“We wish to put money into 30-40 firms within the subsequent 3-5 years, out of which 40-50% of the businesses can be from India,” Sathya Nellore, the cofounder of WeKan, stated.
Within the subsequent month alone, WeKan is seeking to make investments at a ticket dimension of as much as $250,000 in B2B growth instruments resembling Low or No-Code, DevOps/Infrastructure Instruments, API Administration, and Software program Testing software.
This comes at a time when the Covid-19 pandemic has compelled firms internationally to undertake a distant work mannequin, or work at home (WFH).
“I believe it is also probably the most thrilling instances for B2B and ‘future of labor,’” Nellore, who has almost 5 years’ expertise as an entrepreneur and angel investor, stated.
Nellore’s fund has been domain-agnostic prior to now, and it had incubated 20 firms throughout the journey tech, prop-tech, and mobility verticals, primarily in america.
Earlier this yr, he turned his gaze to India to leverage the home market’s value efficiencies, information stack of the earlier three a long time in constructing merchandise for Fortune 100 firms, and a rising pool of high-quality expertise.
The fund already has a 5-6 folks India workforce, with a portfolio help workforce of round 30 folks.
“The price of constructing a B2B startup in India is far lower than constructing it within the US; firms from India elevate 1/third lesser capital than their friends,” he stated.
In an period the place the long run work remains to be unsure, Nellore stated the virus outbreak has made companies understand the significance of going digital.
Companies wish to implement instruments that make distant work quicker, smarter, collaborative and enjoyable, he stated.
Distant working is a brand new alternative boosted by the pandemic.
Microsoft lately introduced plans to undertake a “hybrid office” mannequin post-pandemic, whereas DropBox stated it aimed to turn into a “digital first” firm. Even in India, expertise firms, together with ed-tech agency Unacademy and service provider providers platform Khatabook, are taking a look at hybrid work fashions for the approaching years.