Upekkha announced $15 M first close of new fund led by WestBridge Capital
An accelerator fund with a focus on software as a service (SaaS) in an effort to strengthen its position in the SaaS and AI industries, Upekkha has announced the first close of its new $15 million fund, which is being led by WestBridge Capital.
With a $40 million total corpus, the fund will invest in more than 70 early-stage companies by 2024. Upekkha intends to provide each startup with almost $125,000 in funding.
In order to create a rolling fund that was the first alternative investment fund (AIF) of its kind in India, Upekkha raised about $9 million from WestBridge Capital in February 2022.
Founded in 2017 by Prasanna Krishnamoorthy, Maruthavanan and Shekar Nair, Upekkha is a SaaS accelerator platform that mentors and trains SaaS companies.
Upekkha has worked with over 250 Indian B2B SaaS founders over the past six years. Among the businesses in its portfolio are API Platform, Almabase, Gimlet.ai, and Labellerr.
