Upekkha's 'Up Funds' invests in eight SaaS start-ups to fuel industry growth 

BENGALURU:  In a bid to fuel Indian-origin SaaS (Software as a service) growth, an early-stage fund, Up Funds, by Upekkha Value SaaS Accelerator, has invested in eight SaaS start-ups. It aims to invest $10 million in 100 start-ups every year. The funding between $100-200k per start-up will help founders overcome early-stage growth bottlenecks. 

The funded start-ups are cloud security automation platform Kloudle, VideoForm that helps brands engage with customers via personalised videos in a post-pandemic world; IOTRL that helps health & safety heads of enterprises reduce road accidents across field sales and service teams and Urban AI that uses computer vision to capture data points needed by urban planners.

It has also funded EnrichVideo that works with banks and wealth management firms to create engagement solutions; Bynry, a cloud-based platform for small & mid-sized utilities; GOVeva that offers next-gen digital board management solutions to enterprises; and OceanFrogs, a sales intelligence platform for SaaS companies.

In 2020, India SaaS had 1000 funded companies, with a combined revenue of $2-3 billion and also employed nearly 40,000 people.  “By 2030, the sector is slated to grow to a $1 trillion valuation, with a combined revenue of $50-70 billion and will generate 5 lakh new employment. Early stage investors like Up Funds will fuel the growth momentum,” Prasanna Krishnamoorthy,  Co-founder and Partner  of Upekkha said.

Upekkha launched Up Funds in January 2021.  Over the last 4 years, it has accelerated over 70 start-ups, of which, six have crossed $1 million in ARR. Uprekkha’s investors include Freshworks CEO Girish Mathrubootham, G2 Crowd CEO Godard Abel, Grasshopper Founder David Hause and Vymo CEO Yamini Bhat, among others.