SucSEED Indovation announces closure of Rs 100 crore fund

SucSEED Indovation, the SEBI (Securities and Exchange Board of India) registered alternative investment and venture capital angel fund,  has announced the first closure of its maiden Rs 100 crore fund by raising Rs 40 crore and its three new startup investments that comprises of Stargate, Auris and Freestand. Through this fund, SucSEED aims to support 50 plus startups till they become large enterprises over their three-stage funding thesis.

Vikrant Varshney, the co-founder of  SucSEED, said that the second closing is targeted for February-March 2021 with a focus on corporate ventures, financial institutions, institutional entities, fund of funds and family offices.

Stargate is a direct-to-retail (D2R) cross-border platform for lifestyle products. While AI-powers insights platform, Auris curates insights in real-time to capture and analyse data, Freestand, a marketing tech platform enables FMCG (Fast-Moving Consumer Goods) brands to deliver physical product samples to digitally target customers.