Edelweiss Is Helping To Build a Stronger Startup Ecosystem in India
Edelweiss Unveils Its India Plans
Good news for Indian startups in fintech, AI and tech-related fields. The venture capital and PE arm of the global financial giant, Edelweiss, has plans of investing in 8-12 Indian startups in the aforementioned categories.
Encouraging the tech startups
Pranav Parikh, head of Edelweiss PE, has shown interest in investing in Indian startups that are in early-stage and growth-stage. Special emphasis is on tech-enabled startups, fintech and AI.
Edelweiss PE is a venture capital and private equity arm of Edelweiss Financial Services Ltd. They have set a $1.3 million deal for early-stage startups and $10- $15 million deal for growth-stage startups. As per reports, Edelweiss has already chosen the first 6 startups.
And Why It Is Needed
Startups are often associated with business ideas aimed at solving a specific problem. Edelweiss is looking at companies making use of IoT, data analytics and technology to come up with products and services in healthcare, finance and transport among others. The company is pretty optimistic about the future of startup ecosystem in India and aims at creating brands out of deserving businesses.
The company plans on adding such startups to its portfolio and wants to stay invested in them for 5-10 years.
- Edelweiss is investing in 8-12 startups in India.
- It’s seeking startups in healthcare, finance and tech space.
- It plans to maintain its investments in these startups for at least 5-10 years