AIC-BIMTECH

AIC-BIMTECH Partnered:Funding alert: FundEnable raises seed funds from BRTSIF

FundEnable, a technology platform that upskills and prepares entrepreneurs to raise capital, has raised undisclosed seed funds from BSE’s BIL Ryerson Technology Startup Incubation Foundation (BRTSIF), under the Government of India’s NIDHI Seed Support System, along with other prominent angels, including Rachit Poddar.
With the Indian startup ecosystem growing at escape velocity, raising funds has become the prime focus area for nine out of ten entrepreneurs. But a majority of entrepreneurs do not understand the technicalities of raising capital. While funding news, investor interviews and case studies on startups are widespread, these information sources do not help entrepreneurs understand how to find the valuation of their company or how to negotiate a term sheet with a prospective investor.
 
Prutha Atre, Founder of¬†FundEnable¬†said,¬†‚ÄúToday, raising¬†funds¬†is every entrepreneur‚Äôs aspiration. But fundraising is tricky and not many understand it to have a strong strategy. Founders often get stuck at very basic points such as how much stake will be diluted or how to prepare for due diligence. We have designed¬†FundEnable¬†to accommodate every entrepreneur‚Äôs unique fundraising journey by providing tangible resources and affordable, qualified guidance for raising a round of capital.‚ÄĚ
 
The company demystifies the fundraising process and helps entrepreneurs tackle it step-by-step. On this platform, entrepreneurs get access to a comprehensive repository of online courses, tools and templates. The courses explain the intricacies of fundraising such as cap tables, dilution, financial model, valuation, etc. in the Indian context. The tools & templates for business plan, cap table, termsheet, sector multiples, due diligence checklists, etc. enable entrepreneurs to translate their learnings into tangible progress in their fundraising journey. On-platform 1-on-1 mentoring is now also available for entrepreneurs.
 
Commenting on the same, Hemant Gupta, Managing Director of¬†BRTSIF, said, ‚ÄúTo us at¬†BRTSIF,¬†FundEnable¬†is a prime example of Indian start-ups creating disruptive and systemic solutions that address prominent pain points in their target market.¬†FundEnable¬†has created a platform that is not only fit for the Indian market but has a global relevance.¬†FundEnable¬†represents an ideal start-up for which the NIDHI-SSS scheme was designed, and we are proud of incubating and funding¬†FundEnable. I wish¬†FundEnable, Prutha Atre, Vikrant Potnis and the entire¬†FundEnable¬†team all the best‚ÄĚ.
 
Rachit Poddar, Executive Director Rachit Group and Co-founder of Marwari Catalyst Ventures says, ‚ÄúIt gives me immense pleasure to join¬†FundEnable, from where I started my journey in venture capital.¬†FundEnable¬†has been instrumental in the fundraising journeys of hundreds of entrepreneurs through their dedicated technology platform.¬†FundEnable‚Äôs partnership with incubators across the country will help emerging startups to raise a round of capital & foster economic growth in private capital markets.‚ÄĚ
 
To date, the team has raised over INR 200 crore for Indian startups. The platform is currently providing fundraising support to over 1,500 entrepreneurs with ventures across 30+ sectors including defense tech, logistics, F&B, e-commerce, enterprise SaaS, cleantech, health tech, etc. 90% of entrepreneurs subscribing to FundEnable are early-stage ventures looking to raise their first round of funding while 11% have raised pre-series rounds of capital and are now seeking Series A funding.
 
The company has also partnered with 20+ leading Department of Science & Technology (DST) Incubators and Atal Innovation Centers to provide fundraising support to incubated startups. Some of their incubator partners include i-TIC Foundation IIT Hyderabad, IIT Kanpur, IIM Udaipur, AIC Great Lakes, AIC Banasthali, AIC BIMTECH and more.
 
 

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