Unitus Ventures Raises INR 100 Crore Towards First Close of Fund II
Unitus Ventures (formerly Unitus Seed Fund), India’s leading impact venture fund investing in startups innovating for the masses, today announced that it has raised INR100 crore towards first close of its INR300 crore ($46 million) second fund. Prominent investors include Michael & Susan Dell Foundation, Bill Gates, Hemendra Kothari, Ajay Parekh, Pradeep Singh, Pramod Saxena, Padma Chandrasekaran and Ravi Venkatesan among others. The fund plans to invest in 25-30 early stage startups in healthcare, education and inclusive fintech.
Founded in September 2012 by Dave Richards, Will Poole and Srikrishna Ramamoorthy, Unitus Ventures closed their first fund in 2013 at INR 140cr and made 23 investments in sectors including healthcare, education, technology and e-commerce. Some of their investments include Hippocampus Learning Centres – currently with 300 semi-urban and rural kindergarten centres; BetterPlace – serving hundreds of marquee B2B customers by verifying and providing services to more than 1 million employees; and DriveU – on demand driver service that is currently averaging 1000 daily rides across all major metros.
Photo courtesy of Sudipto Sarkar.