EvolveX, a startup accelerator headed by We Founder Circle (WFC), an early-stage start-up investment platform, has announced a target to invest in 50 ventures by year’s end. The flagship accelerator will provide $20–30K in seed funding to early-stage startups to empower them to raise up to $100K during the program.
EvolveX was started in March 2022 and completed the year with the closure of its second cohort, which mentored and funded 14 startups. To date, it has invested half a million dollars in startups, and for 2023, the accelerator plans to invest up to $1.5 million through its EvolveX program.
Additionally, it has set its sights on a total of four cohorts, encompassing a total of 36 startups. In the running year, it already successfully completed Cohort 3 in April 2023. The fourth cohort is set to commence in June 2023.
“Through our comprehensive support system, including substantial seed funding, access to seasoned mentors, and a thriving community. We expect most of our accelerator companies to go on and build big, sustainable businesses, and we will continue to fund their future rounds,”said Bhawna Bhatnagar, Co-Founder, EvolveX.
Cohorts
The cohorts encompass startups from sectors including EdTech, Automobile Marketplace, Electric Vehicles (EV), Direct-to-Consumer (D2C), Software as a Service (SaaS), Robotics, FinTech, Augmented Reality/Virtual Reality (AR/VR), AgriTech, MarTech, and Health Tech.
“With EvolveX, We Founder Circle has broadened its impact at pre-seed and seed-stage startups. The idea is to give funding visibility to early-stage entrepreneurs from pre-seed to up to angel rounds, along with active mentoring and business support,” said Neeraj Tyagi, Co-Founder and CEO, We Founder Circle.
In Cohort 1, a total of six startups were covered, including Uma Robotics, Student Ink, OLL, Motozite, ParkMate and Humors Tech, followed by eight startups in Cohort 2 including EV India, The Energy Company, UCliq, MetaBook XR, MeriGarage, Get Plus, PrintBrix and WildLeaf. In its third cohort, EvolveX included seven startups: Krishivan, DeltaFour, Himshakti, HealthQ Rehab, My Era, Nikol EV, and Rupid.