Start-ups raise Rs 6 crore at finale

Divyanshi Gaur
Chandigarh, February 7

Nearly half a dozen start-ups from Chandigarh and other parts of the country raised around Rs 6 crore on the spot at the finale of the fourth edition of India Fund Fest 2020 held here today.

This is for the first time that India Fund Fest shifted out of Bengaluru and was held in Chandigarh. The fund-raising event was organised following the success of the first three editions in 2017, 2018 and 2019.

A total of 28 companies from 20 cities made it to the finale and pitched to a panel of 14 investors from eight cities of India. There were over five companies from the Chandigarh and Punjab region which participated in the event.

The companies that raised funds included Matchstatz Solutions Pvt Ltd, a Karnataka-based start-up, which provides solutions for Industrial Internet of Things (IIoT) and RidezNow, which provides rental conveyance service to the hostel students of Chitkara University.

“This is a great opportunity for the region to have access to start-up capital with so many investors coming over to assess the start-ups pitches from all over India,” Dr Madhu Chitkara, Vice Chancellor, Chitkara University, said.