Mumbai-based incubator thinQbate has partnered with data-driven venture capital firm Hatcher+ to gain additional capital and AI-based platforms to assist in assessing candidates and tracking performance.
Accordingly, thinQbate and Hatcher+ will invest in 20 start-ups over the next three years.
Besides additional capital for its portfolio companies, the Mumbai-based incubator is expected to gain access to Hatcher+'s extensive network, enabling it to have a "soft landing" across different geographies.
"Hatcher+ is a notable player in the global market and we are thrilled to be their first partners in India. Working with Hatcher+ will exponentially increase the infrastructure and network we can bring to our portfolio companies, as well as significantly add to the size of our capital contribution," thinQbate Founding Partner Pranav Marwah was quoted as saying in a statement.
"thinQbate's investment ethos has always been about bringing strategic value to our portfolio companies, rather than only capital, and our partnership with Hatcher+ will help us further this goal."
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According to Sauvik Banerjjee (CTO, TATACLiQ and VP Digital Initiatives at Tata Industries), who acts as an advisor to the thinQbate founding team: "The cornerstone of thinQbate's model is to encourage sustainable growth, and the organisation has made tremendous progress since its inception just two short years ago."
"I am excited by the opportunities a partnership with Hatcher will bring for the young and dynamic team at thinQbate."
Wissam Otkay, partner at Hatcher+ commented: "They (thinQbate) are, in our view, one of the leading early stage investment and incubation programs in India."
The Mumbai-based incubator was founded in 2016, and is based on a community centric, entrepreneur-first approach to angel investment and incubation.
It aims to help annual cohorts of fresh ideas and minds thrive through capital investment, as well as offer value-added benefits.
Currently, thinQbate is moving into its second cohort, where it is looking to invest up to $50,000 in six to eight portfolio companies.
--IANS
rv/in
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