IIT-M incubated startup YNOS Venture Engine raises Rs 2.5 crore in seed funding
The funding will be used to further scale technology investments and strengthen ongoing business development activities.
“We target the big systemic challenges at the bottom of the startup pyramid. The versatility of our smart platform makes it a relevant solution not only addressing the pain points faced by early-stage entrepreneurs but also investors, institutions and all stakeholders who want to be engaged with the startup economy in the country,” Prof. Thillai Rajan A., Professor-IIT Madras & Co-Founder YNOS Venture Engine said in a statement on Monday.
YNOS leverages technology, advanced data science techniques and marker analytics to provide customized insights and recommendations to startup founders, venture investors, innovators, and other stakeholders of the startup ecosystem. The company has on-boarded over 83,460 startups, and more than 5,600 angels and over 1,500 VCs & networks as part of their exhaustive intelligence.
“As one of India’s leading incubators with over 240 deep-tech startups, we are keenly aware of the challenges faced by early-stage technology entrepreneurs, especially in raising investment and finding matched mentors. Services offered by YNOS are addressing some of these critical issues and I am confident that they will create a strong impact on the entrepreneurial ecosystem in this country,” said Dr. Tamaswati Ghosh, CEO, IITM Incubation Cell.
YNOS help entrepreneurs accelerate this learning curve. They also provide tools for venture valuation, expert subject matter consultations and a comprehensive IP engine providing solutions right from identifying to licensing intellectual property.
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“Starting with the competitive landscape and investor matching, YNOS can significantly help young entrepreneurs in building their ventures. The offerings leverage insights from several years of research on Indian venture industry and use of data sciences tools and techniques,” R. Ramaraj, Angel Investor & Advisor, Elevar Equity said.
Since its inception, YNOS has successfully acquired several prominent institutional incubators and extended its platform to the connected ecosystem. The list includes IIM Kozhikode, BIMTECH, Noida; Confederation of Indian Industry (CII); IIT Patna; Pontaq Ventures; Karunya University; Accenture Ventures; School of Design Thinking; Start-up TN; Arali Ventures and CIIE – IIM Ahmedabad.
YNOS received seed funding from business leaders like Arun Jain, Lakshmi Narayanan, Sarath Naru, Prashanth Prakash, Madan Padaki, M. Srinivasa Rao, Shalini Chhabra, Prof. Rishikesha T. Krishnan, Samit Jain, Praveen Joseph, ZAR Business Partners LLP, Rickson Rodricks, Ajit Thyagarajan, Siddharth Ram Athreya, and Naresh Ranwah.
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