Shiprocket launches accelerator program, to invest Rs 3.5 cr in startups

Logistics aggregator platform Shiprocket on Wednesday launched an accelerator program, Rocket Fuel, beneath which it plans to invest up to Rs 3.5 crore in every startup chosen in the scheme.

The startup will get customised recommendation by means of one-on-one mentoring classes and group studying classes by subject material consultants masking the basics of constructing a enterprise beneath the Rocket Fuel accelerator program.

“Building consumer brands is hard and expensive. By bringing experienced insights and shared resources to direct to consumer brand startups, Shiprocket will significantly increase their chances of success,” Shiprocket co-founder and CEO Saahil Goel mentioned in a press release.

Shiprocket mentioned this system is designed to assist D2C (direct to client) startups scale up.

“We plan to invest anywhere between Rs 75 lakh to Rs 3.5 crore in the startup selected in Cohort. Funding will be a mix of credits from various companies plus cash from angel and venture capital investors. The amount is for each startup,” Goel mentioned.

In addition, the accelerator program may also embrace know-how startups that are enabling the D2C ecosystem, the assertion mentioned.

(Only the headline and movie of this report could have been reworked by the Business Standard employees; the remainder of the content material is auto-generated from a syndicated feed.)


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