Zone Startups India Fund, a joint venture between Ryerson Futures Inc and Chokhani Family Office, has made its first investment in artificial intelligence-enabled data analytics firm vPhrase.
Speaking on the development, Krishna Chokhani of Zone Startups India Fund said "Vphrase is solving a major problem for a lot of industries like financial services, consumer Internet and other enterprise needs. Technologies like these will be a game changer, and set an example of sustainable startups."
"Zone Startups India works with such high-technology disruptive start-ups and over time we have Vphrase grow and get many customers," he adds.
Zone Startups India, a start-up accelerator, is a joint venture between BSE Institute, Ryerson University's Digital Media Zone, Ryerson Futures Inc and Simon Fraser University. The fund and the accelerator are two separate entities.
"We are thrilled with our first co-investment in a start-up accelerated through the Zone Startups India accelerator program. vPhrase has built a technology which has use-cases across industries, and we have seen a lot of customer adoption over the past 6 months," Ajay Ramasubramaniam, Director, Zone Startups India said.
Zone Startups India Fund also plans to invest in 12-15 more start-ups in next one year. "We are focussing more on B2B or enterprise companies, so we can grow across sectors. Typically, we would invest anywhere in between Rs 3 lakh to 3 crore. But early stage investments could be anywhere from Rs 30-60 lakh," he added.