Startups raise capital in the range of $30k-$5 mn at YiFi Next 2022
The fundraising event organised by Freeflow & Velocity1 saw 583 applications from early stage startups, cumulatively asking for Rs 230 crore in funding
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Innovations and disruptions seem to be the new mantra. More than 583 unique applications from early stage startups-cutting across verticals and from different parts of the country, cumulatively Rs230 crore of ask, possible sign-offs with more than 13 national corporates, engagements of more than 6 startup ecosystems, research, development and principal advisory support from more than 80 nationally accredited mentors, a facilitation ecosystem of $100k worth of IT credits/ HR/ Marketing / compliance for all finalists - however long haul it may sound to be, YiFi Next, the physical flagship fundraising event at YiFi 2022, seems to have made it look so easy, courtesy Freeflow & Velocity1.
"Opportunities, investment, startup, engagements- those were the key pillars of YiFi Next 2022. Startups from across the country including tier-II and tier-III cities assembled here for getting funds, commitments, getting mentoring, exchange of ideas, interactions among themselves. There were instances of experienced persons starting off his entrepreneurial journey as well. The shortlisted ones are going back with firm commitments and the rest are also going back with fruitful exchanges, ideas and engagements," said Aaquib Hussain, Co-Founder of Freeflow Venture Builders.
"It was not only about finding investors or investment, but also getting linked to the corporates and getting your customers (or prospective customers like what you are bringing to table," added Hussain.
"Top 30 startups got an opportunity to pitch in front of Kalaari Capital, Artha Venture Fund, Venture Catalysts, 9Unicorns, Dexter Angels, Angel List, Mumbai Angel Network, Unicorn India Ventures, FAAD Network, Breakout.one, Seeders, to name a few. Besides, there were over 80 nationally accredited mentors these startups could interact with," said Suraj Juneja, Co-founder of Freeflow Venture Builders.
Significantly, a large number of early stage startups from across the country gathered in Kolkata recently to pitch before a battery of seasoned VCs, Family Offices, Angel Networks, HNIs to raise capital in the range of $30K-$5 million. The Union Minister of Road Transport and Highways – Nitin Gadkari, who was supposed to address the startup owners, could not make it on health ground (he addressed them virtually). But that failed to dampen the spirit of the entrepreneurs wannabes.
Harshvardhan Neotia, Chairman-Ambuja Neotia Group; Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Company; Chetan Bhagat, Famed Author and former investment banker, spoke on the occasion. There was also a fireside chat with the Unicorn Founder of Spinny, Niraj Singh.
Freeflow & Velocity1 successfully organised this fund-raising event in Kolkata on September 16 to enable early-stage startups raise capital in the bracket of $30K to $5 million. CII-Yi in association with ICAI (Institute of Chartered Accountants of India) – Eastern India Regional Council, supported by WBIDC (West Bengal Industrial Development Corporation) presented this year's YiFi 2022 – a unique Financial Conclave which promises to benefit the existing industries in Bengal and also to provide a launch-pad for startups and Venture Capitalists. FreeFlow is an incubator and accelerator for startups and amongst the only Venture builders in the country that have been successfully funding startups. It's a government-affiliated body, a nationally accredited partner of Invest India, and was the primary partners and facilitators at the Startup India Yatra in 21 States and spanning more than 60,000 ideas and startups during this government initiative in 2019.
Significantly, this time round, unique startup applications were received from sectors like fintech, AI & ML, IoT, edtech, medtech, IIoT, blockchain, Web 3.0, gaming, mediatech, B2B, SAAS, D2C, virtual reality, e-commerce and many others. Interestingly, there were offerings for individuals from all walks of life – Industry, business owners, professionals, young adults and home makers. The presence of six VCs, two family offices, six angel networks, three deal platforms and eight HNIs & uHNIs took this event to new heights. The top 30 startups got a chance to the exclusive closed room pitching session, investor speed networking with VCs, Micro VCs, Angel Networks, HNIs and Family Office Funds.
