India’s startup ecosystem enabler, MCats, aims to raise $4 million at a valuation of $25 million, the company said in a statement
The startup investment revolution started by MCats in 2019, completes its two years on 24th June 2021. Within just 2 years of its launch, it has emerged as a fast-growing and aggressive accelerator with previous fundraising of $1 million on a valuation of $8 million.
Also, 60% of the portfolio companies have already raised their seed funding and are now ready for the Pre-series A Round. MCats have scaled up despite the pandemic giving stellar returns as one of its portfolio companies bags successful exit with 20X return.
With its focus on creating, building, and nurturing the startup ecosystem and economic development in the untapped market of India’s Tier II/Tier III cities, MCats is a super specialized accelerator that has efficiently expanded its portfolio and has come up as a strong player to help promote community building and collaboration among the startup ecosystem, highly active across India.
The accelerator plans to use the raised funding to reinforce the current portfolio, accelerate the progress towards a digital and self-reliant India, enable global reach and engage more with growth stage startups while also offering mentorship and peripheral services.
“Accelerators are the key to growth. They play a vital role in the startup journey as they are the growth partners, not only in fundraising but leveraging technology, hand-holding, mentorship, network opening, and in-market connect. Globally accelerators have helped Startups such as AirBnB, DropBox, and Reddit grow rapidly to a billion-dollar valuation. But the complicated affair is choosing the right accelerator at the right time,” Sushil Sharma, Marwari Catalysts Founder and CEO, says.
Further adding, Sharma says, “The idea behind launching Marwari Catalysts was to provide a strong accelerator network and build a founder and investor-friendly ecosystem as we believe that the main game relies on the founders and founding team.”
Thus, uplifting people and economies through entrepreneurship, MCats is looking to raise funds from Private Equity (PE), family funds, Ultra HNIs, and renowned names from the startup ecosystem.
