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Startup accelerator 9Unicorns hires former Mckinsey exec to beef up team

VCCircleVCCircle · 1y ago
Startup accelerator 9Unicorns hires former Mckinsey exec to beef up team
Medial

Early-stage investment platform Venture Catalysts' accelerator and incubator, 9Unicorns, has appointed Lumani Shah, a former McKinsey & Company senior associate, as a principal in the firm. Shah's role will involve driving strategic growth initiatives and supporting the growth of the accelerator's portfolio companies. With her expertise in strategy development, financial analysis, and operational excellence, Shah is expected to play a crucial role in guiding the portfolio companies towards success and executing investments. This hiring comes shortly after the appointment of Vinod Keni as a partner at 9Unicorns. The fund has already invested in companies such as Shiprocket, BluSmart, and Vedantu.

9Unicorns launches Fund II with target of $200 Mn, rebrands itself to 100Unicorns

EntrackrEntrackr · 1y ago
9Unicorns launches Fund II with target of $200 Mn, rebrands itself to 100Unicorns
Medial

Early-stage accelerator fund 9Unicorns has announced the launch of its second fund following a rebranding exercise. As a result of this rebranding, 9Unicorns will now be known as 100Unicorns. 100Unicorns, a part of multistage investing firm Venture Catalysts Group, has launched its second accelerator fund called 100Unicorns Fund II with a target size of $200 million including a green-shoe option of $100 million. In its first fund, 100Unicorns Fund I (formerly 9Unicorns) had invested in several startups including Videoverse, Trunativ, ZyppElectric, Renee Cosmetics, and IGP. It provides funding ranging from $300,000 to $1 million per startup in the first round, along with product, business and fundraising support. This is followed by $500,000 to $2 million in subsequent rounds with co-investors. 100Unicorns said that it has played a crucial role in the startup ecosystem with initiatives such as DDay and ProStar serving as catalysts for over 80 startups that have collectively secured around $400 million in funding. With the new fund, the fund aims to nurture a pool of 200 outlier startups and propel them to join the billion-dollar club over the next decade.

Autocracy Machinery raises pre Series A round led by Venture Catalysts

EntrackrEntrackr · 1y ago
Autocracy Machinery raises pre Series A round led by Venture Catalysts
Medial

Machine manufacturing startup Autocracy Machinery has raised Rs 5 crore in a a pre Series A round led by Venture Catalysts along with participation from Nikhil Jaisinghani, Bharat Jaisinghani and SFour Capital. The Hyderabad-based company had earlier secured $1.2 million back in 2023 from Venture Catalysts, Z Nation Lab, Hem Angels and others. The proceeds will be allocated towards enhancing its research and development capabilities, and expanding its manufacturing and marketing footprint, Autocracy Machinery said in a press release. Co-founded in 2020 by Santhoshi Buddhiraju and Laxman Vallakati, Autocracy manufactures machines for construction, agriculture, and infrastructure purposes. The company offers a comprehensive range of products, including trenchers, landscaping machinery, agricultural attachments, and water body conservation machines like lake cleaners. Autocracy exports its products to the Middle East and Africa. The company also claims to have machinery which has superior performance and is priced to ensure accessibility for both business and individual clientele. Recently, 9Unicorns, a part of multistage investing firm Venture Catalysts Group, rebranded itself to 100Unicorns. It also announced the launch of its second accelerator fund called 100Unicorns Fund II with a target size of $200 million including a green-shoe option of $100 million.

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