8 SaaS Startups Benefit From Up Funds Upekka Acceleration Fund

8 SaaS Startups Benefit From Up Funds Upekka Acceleration Fund

8 Startups will benefit from Up Funds, an early-stage fund by Upekkha Value SaaS Accelerator. Up Funds announced its funding into eight SaaS startups.

The early state fund under the accelerator program will invest between $100k and $200k per startup. These startups are VideoForm, IOTRL, Urban AI, EnrichVideo, Bynry, GOVeva, OceanFrogs, and Kloudle.

Up Funds, says this funding round will help founders overcome early-stage growth bottlenecks while giving them the option to buy back equity long-term.

Up Funds to invest $100k to $200 K in 8 SaaS Startups

Upekkha track record of scalable profitable growth. Four of the first ten startups have grown 3X – 16X in revenue to cross $1Mn ARR working with us. Eighteen of first twenty startups are cashflow positive month on month, while growing their revenues 50+% year on year.

Started in January 2021, the vision of Up Funds is to invest $10 million in 100 startups every year, in its bid to fuel Indian-origin SaaS growth. Founding members Prasanna, Shekar, and Thiyagarajan, founders and partners of Upekkha.io, a SaaS accelerator working with 55 SaaS startups in the past 3.5 years.

Prasanna Krishnamoorthy, Partner and Co-founder, Upekkha, stated, “As reported, in 2020 India SaaS had 1,000 funded companies, a combined revenue of $2-3 billion and 40,000 people employed. By 2030, the sector is slated to grow exponentially to $1 trillion valuation, combined revenue of $50-70 billion and 500,000 in new employment. Early-stage investors like Up Funds will fuel that growth momentum.”

Since last four years, Upekkha has accelerated over 70 startups, six of which have crossed $1 million in ARR profitably. Its investors include Freshworks CEO Girish Mathrubootham, G2 Crowd CEO Godard Abel, Grasshopper Founder David Hauser, and Vymo CEO Yamini Bhat, among others.

Shekar Nair, Upekkha Partner and Co-founder, said, “While we are seeing a gold rush in SaaS, early-stage growth is still one of the hardest things for a SaaS startup to solve and this is where capital is still scarce. With Up Funds investment, founders can stay focussed on early-stage growth problems without being distracted.”

The core philosophy of Upekka is to help startup founders to grow fast in a capital and equity efficient manner where they can sidestep the path of raising too much capital and losing equity in the process. It believes in value creation with founders having greater control on their future choices.