The EvolveX accelerator, launched by We Founder Circle (WFC), has set an ambitious goal to invest in 50 startups by the end of this year. This initiative is focused on supporting early-stage ventures, providing investments ranging from $20,000 to $30,000 at the seed stage, while also facilitating additional fundraising opportunities of up to $100,000 during the program.
To date, EvolveX has allocated half a million dollars to various startups and plans to increase its investments to a total of $1.5 million in 2023. “Our steadfast commitment underscores our belief in the significance of innovation and entrepreneurship. We provide a holistic support system that includes significant seed funding, access to experienced mentors, and a vibrant community,” stated Bhawna Bhatnagar, Co-founder of EvolveX.
Since its inception in 2022, EvolveX has completed two cohorts, mentoring and funding a total of 14 startups. This year, the accelerator aims to run four cohorts, mentoring up to 36 startups across a variety of sectors. These sectors include edtech, electric vehicles (EV), direct-to-consumer (D2C) brands, software-as-a-service (SaaS), robotics, fintech, augmented reality/virtual reality (AR/VR), agritech, martech, and healthtech.
The first cohort featured six startups: Uma Robotics, Student Ink, OLL, Motozite, ParkMate, and Humours Tech. This was followed by eight startups in the second cohort: EV India, The Energy Company, UCliq, MetaBook XR, MeriGarage, Get Plus, PrintBrix, and WildLeaf. In the third cohort, EvolveX included seven startups, namely Krishivan, DeltaFour, Himshakti, HealthQ Rehab, My Era, Nikol EV, and Rupid.
Beyond funding, the program fosters a community for startups to collaborate and learn from one another, helping them to map out growth strategies, secure infrastructure for future funding rounds, and tap into EvolveX’s extensive network of angel investors.
Neeraj Tyagi, Co-founder and CEO of We Founder Circle, remarked, “With EvolveX, we have expanded our reach to pre-seed and seed-stage startups. Our aim is to provide early-stage entrepreneurs with the funding visibility they need, from pre-seed to angel rounds, along with proactive mentoring and business support.” The accelerator is open to promising startups globally, not just those based in India.