Arkam Ventures receives funding investment of ₹325 crore for technology startups

Arkam Ventures previously known as Unitary Helion has received commitment funds of 325 Crores Indian rupees. Moreover, the fund in total is of 700 Crores Indian Rupees that will invest in early stage technology startups. This funds investors include Small Industries Development Bank of India. Capria, an American investment firm, and entrepreneurs. Including Flipkart co-founder Binny Bansal and Paytm founder Vijay Shekhar Sharma. The rest of the funding amount is said to close by this financial year.

Arkam Ventures was started as Unitary Helion in 2017 by Rahul Chandra. A former managing director at Helion Venture Partners. Bala Srinivasa, a former partner at Kalaari Partners too was one of the founders. It has changed its name to Arkam Ventures. In order to, to avoid any confusion with Helion Venture Partners. Now defunct.

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Funding and Investments

Moreover, around 15-18 startups in the Series A and B will be funded. Around 15-18 Crores Indian Rupees will be invested. The fund has already invested in lending startup Krazybee and business-to-business grocery platform Jumbotail. It is in the process of backing three more startups, which operate in financial services and agriculture technology. The fund’s investment thesis is around finding startups that cater to middle India comprising around 400 million people. Whose annual family incomes range between ₹3-20 lakhs. The fund seeks startups in four areas: financial services, healthcare, food or agriculture and transportation. It estimates that these areas account for about 70% of the spending by the 400 million people. Many of whom live in smaller cities and towns.

“We look at three main things. One, the product should be built primarily for middle India instead of the top 1% of the population. Firstly, in the past, there have been too many instances of companies whose products cater to the top 1%. Who then spend too much money to take these products to middle India. Secondly, the startup should be able to distribute their products efficiently to this audience. Lastly, the business model should have the potential of making money very soon, if not from day one,” Srinivasa said.