KSUM announces 70 crore investment into startups from several sectors

KSUM announces 70 Crore investment into startups from several sectors

The state-run Kerala Startup Mission (KSUM) organised the fifth edition of the ‘Seeding Kerala’ investment summit, from February 7th to 8th, 2020. At the conclusion of the event on Saturday, announcements were made that investments amounting to Rs 70 crore would be made in a range of startups from many different sectors. A nodal agency of the Kerala government, KSUM works on entrepreneurship development and conducts incubation activities in the state.

Reports state that some of the startups receiving investments would include Sporthood, Astro-Vision Futuretech Pvt Ltd, Bumberry, ilove9months, Entri, and ZappyHire. M Sivasankar, Principal Secretary (Electronics and IT), Kerala government, and Dr Saji Gopinath, CEO, KSUM, were present at the time of the announcement on the second day.

Sporthood, a Bengaluru-based startup, received investment from SEA Fund, marking the company’s investment in four ventures in Kerala, out of the total of seven it has made, till now. The investment in Astro-Vision Futuretech Pvt Ltd came from Chennai-based matrimony.com, one of India’s largest matrimonial companies, in a first for the firm. The Kerala Angel Network (KAN), led by a group of investors, invested in Bumberry, its maiden investment in a startup, as well.

Maternia Care Technologies Pvt Ltd., which owns ilove9months, will have investments by US-based Equifin VC, also its first in India. On the other hand, Entri will be funded by Good Capital, while ZappyHire will receive funding from Smart Sparks Angel Network.

Watasalere, a Kochi-based startup, presented its seed fund of Rs six lakh to the Kerala government. Furthermore, officials of Pavizham Oil and Rice also contributed its Corporate Social Responsibility fund of Rs 9.4 lakh to the Red Button public safety programme.

Headed by the startup of the same name, the project will see a robotic system being installed in public areas in several cities, starting with Thiruvananthapuram and Thrissur. It is aimed at enhancing public safety, particularly for women, and is also expected to help bridge the gap between the police and the public.

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