YourNest launches fast-track funding plan for early-stage startups
The coronavirus pandemic has brought the world to a grinding halt. The startup and venture funding industries have also suffered, with India’s downturn set to intensify.
YourNest will invest between $250,000 and $1 million in each startup. The SOAR application process is open for two weeks from May 1, 2020. Shortlisted startups will be contacted after May 14, and term sheets will be issued by June 15 after another round of screening.
“We will continue to fund the most promising startups in deep tech and SaaS domains, particularly if they are building IPs and have a global outlook to make the world a better place to work and live in, ” said Sunil K Goyal, Managing Director of YourNest Venture Capital.
Apart from the funds, the first cohort of SOAR startups will also benefit from YourNest’s Nurture Capital framework that unlocks access to a large range of advisors and mentors in diverse disciplines and functional experts.
The SOAR programme is also supported by Amazon Web Services, Cisco, Freshworks, Intel India Maker Lab, and JioNext. AWS and Freshworks will offer credits to the startups to utilize their services, while Cisco, Intel, and JioNext will work with the YourNest team to help assess and shortlist applicants.
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