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PedalStart, a startup accelerator, recently announced the launch of its Series-2 fund, securing $250,000 to support early-stage startups.
The development follows the launch of its first internal company fund, which also allocated $250K among 5-7 founders.
With this new fund, the firm aims to inject capital into 5-7 promising startups that have shown significant progress and execution in the last three to six months.
Selection process
The startups will be chosen through a rigorous selection process, focusing on their performance and execution during the acceleration phase. The selection will emphasize the growth trajectory and scalability potential, aiming to identify startups poised for exponential growth and impact.
Community-driven platform
PedalStart is a community-driven platform that has grown to encompass over 10,000 startups, 300 mentors, and 1600 founders since its inception in 2021. The platform offers a unique opportunity for entrepreneurs to learn from industry veterans, polish their ideas, and gain access to a network of like-minded individuals and potential collaborators.
Manas Pal and Aditya Darolia, the co-founders of PedalStart, said, "We’re elated to extend our support to the burgeoning pool of entrepreneurs through the launch of our Series-2 fund. Our unwavering commitment lies in empowering startups with the resources and guidance necessary to navigate the competitive sphere and emerge as trailblazers," they stated.
Expanding portfolio
The accelerator is sector-agnostic, having previously invested in startups across agritech, insuretech, cleantech healthcare, and networking. With the Series-2 fund, PedalStart is looking to expand its investment portfolio to include robotics, medical science, deep-tech, and other sectors.
Entrepreneurs interested in vying for the Series-2 fund are encouraged to explore the application process on PedalStart's website, as the platform aims to provide a springboard for visionary founders from various sectors to amplify their growth and impact.