WestBridge Capital invests $9 million in startup accelerator Upekkha.


Upekkha Value SaaS Accelerator, a US-based AngelList-style early-stage investment organisation, has raised $9 million from WestBridge Capital for its rolling fund, which will look to invest in about 50-60 firms this fiscal year. This is the first alternative investment fund (AIF) of its sort in India.

In a rolling fund, the investor will invest in businesses that use a revenue-based financing approach rather than a debt-based financing model. In January 2021, the software as a service (Saas)-focused investment firm was launched. It usually invests between $100,000 and $200,000 in businesses.

According to a senior firm official, it backed roughly 10 startups in 2021 and also participated in a Series A investment in one of its portfolio companies.

“UP Funds will invest in 60 startups across three cohorts of the Upekkha accelerator programme this year,” Shekar Nair, cofounder and partner of Upekkha, said.

“We aimed to help Indian entrepreneurs go global when we founded WestBridge 20 years ago.” Prior to Upekkha, India lacked a solid ecosystem and platform dedicated to assisting early-stage SaaS innovators in building profitable and huge enterprises. “We see Upekkha as a vital partner today, bridging the gap for early-stage SaaS companies who want to go global while remaining based in India,” said Sumir Chadha, cofounder and managing director of WestBridge Capital.

According to Upekkha’s Nair, India’s SaaS will be the next great growth store. We’re already witnessing it. In the last five years, India’s SaaS market has exploded.

It is expected to generate $30 billion in revenue by 2025 and treble its worldwide market share to 8%. “

“In contrast to Vanity SaaS, which involves raising too much money too soon without first addressing unit economics, the Value SaaS approach focuses on helping founders construct a revenue flywheel engine for capital-efficient growth.” According to the firm, this gives founders more control over their growth trajectory, allowing them to choose whether to go high-scale (VC), choose a strategic exit, or stay Founder Forever.

Over the course of four years, Upekkha has accelerated 72 startups, with seven of the first ten profitable.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post
NSussman Techcrunch Exchange v3 ORNG

Is this year going to be a bad year for late-stage startup valuations? Nobody knows how much anything is worth, especially software editions.

Next Post

Rario, an NFT platform, is in talks with Dream Capital for a $100 million fundraising round.

Related Posts