November 24, 2024: 8i Ventures has launched the second edition of its innovative pre-seed funding programme, Origami with a target to invest in upto five promising early stage startups. Aimed at empowering early-stage founders, the programme promises a fast-track approach to securing funding, with deal closures expected within just four weeks.
This initiative builds on the success of the first edition, which kicked off in March 2024 and saw $600,000 invested in three promising startups—Cobalt, Cautio, and one undisclosed company.
The Origami programme is designed to provide a streamlined process for founders. From the initial response in just one week to a term sheet issued in two weeks, the programme ensures that founders can focus on building their product while 8i Ventures takes care of the capital-raising side. With a deal closure in just four weeks, the goal is to offer entrepreneurs the opportunity to accelerate their growth without being bogged down by fundraising challenges.
8i Ventures to back promising early-stage startups
Vishwanath V, General Partner at 8i Ventures, shared that one of the greatest struggles faced by early-stage founders is balancing the need to develop their product with the pressure of raising capital. He emphasized that Origami’s purpose is to eliminate this distraction, enabling founders to concentrate on what matters most—creating and refining their product.
By providing timely support and funding, 8i Ventures aims to fuel innovation, nurture early-stage companies, and help build a more sustainable and thriving ecosystem. This commitment to empowering the next generation of startups reflects the firm’s vision for a future where the focus is on growth and value creation rather than navigating the complex funding process.
The Early Stage Startup Fund has already earmarked $10 million to the Origami programme and this will be deployed twice a year. In the second edition, it aims to fund four to five startups.
Vikram Chachra, Founding Partner, 8i Ventures said, “Continuing our $10 million allocation, we aim to invest in more pre-seed startups this year and potentially double down if the program proves successful. By offering rapid funding and a supportive ecosystem, we aim to accelerate the growth of India’s startup landscape and drive positive change.”
The Early Stage Startup fund divulged the first close of its $50 million second fund by raising $25 million. According to Vishwanath, the criteria for investing in startups will be if they have clarity on the problem statement that the market or customers are facing and how they are going to solve them.
For more than a decade, 8i Ventures has funded startups from seed to early stage and its portfolio includes the likes of Slice, M2P Technologies, Blue Tokai, and Easebuzz to name a few.
