8i Ventures, an early-stage venture capital firm known for backing high-potential startups like Slice, Easebuzz, and BBetter, has announced the launch of the second edition of its pre-seed funding program, “Origami.” Building on the success of the first edition, which garnered significant attention earlier this year, the new round of Origami aims to continue supporting promising early-stage founders in India. This initiative is part of the firm’s ongoing commitment to fostering innovation and nurturing startups in their formative stages.
Building on Success: The First Edition of Origami
Launched in March 2024, the inaugural edition of Origami was met with strong interest from the entrepreneurial community. Over 500 applications were received, signaling the growing demand for venture capital support in India’s startup ecosystem. After careful evaluation, 8i Ventures invested INR 50.69 crore (approximately $600K) across three startups: Cautio, a fleet dashcam and video telematics platform; Cobalt, a company providing native integrations for B2B software services; and another startup that remains in stealth mode.
The success of the first edition underscores the firm’s ability to identify high-potential, early-stage companies. It also demonstrates the firm’s focus on innovation, as it invested in diverse sectors ranging from fleet management technology to B2B software solutions.
Streamlined Process for Speedy Funding
8i Ventures has developed a reputation for a fast and efficient funding process, which sets its Origami program apart from other pre-seed funding initiatives. “We filter incoming applications based on whether they fit our team, product, and insight criteria,” said Vishwanath V, General Partner at 8i Ventures, in a statement to Inc42. This approach ensures that the firm is investing in startups with not only promising products but also strong teams and clear insights into market needs.
Once a startup meets these criteria, 8i Ventures expedites the funding process, offering initial responses within one week of application. This is followed by term sheets being issued within two weeks, with deal closure typically occurring within four weeks. This streamlined approach allows early-stage founders to move quickly and secure the capital they need to grow their ventures, without the long wait times often associated with traditional venture capital processes.
For founders, speed is crucial, especially in the early stages when resources are limited and the need for funding can be urgent. By simplifying and accelerating the funding process, 8i Ventures ensures that entrepreneurs can focus on building and scaling their businesses rather than getting bogged down in lengthy negotiations.
Criteria for Application and Focus Areas
The Origami program targets startups in their pre-seed stage, where the risk is high, but the potential for growth is significant. 8i Ventures is particularly focused on startups in emerging sectors like fintech, SaaS, edtech, foodtech, and B2B software services, though the firm is open to diverse industries. The firm is looking for founders who not only have innovative ideas but also a clear vision and the capability to execute their plans.
The firm’s decision-making process involves in-depth interactions with the founders, either directly or via Zoom, to understand their long-term vision and ability to navigate the challenges that come with building a startup. This personal approach ensures that 8i Ventures invests in entrepreneurs who are committed and resilient.
Looking Ahead: The Future of Origami
The second edition of Origami will continue to focus on identifying and nurturing early-stage startups that show promise in terms of innovation, scalability, and market potential. With its efficient funding process and hands-on approach to working with entrepreneurs, 8i Ventures is well-positioned to play a key role in shaping the future of India’s startup ecosystem.
For early-stage founders looking to bring their ideas to life, Origami presents an exciting opportunity to secure funding, mentorship, and the resources needed to scale. With the backing of a trusted venture capital firm like 8i Ventures, these startups will have the support they need to make an impact and thrive in an increasingly competitive market.
Conclusion
The launch of the second edition of the Origami program by 8i Ventures is a welcome development for early-stage founders in India. By providing quick and efficient access to capital and leveraging its deep expertise in scaling startups, 8i Ventures is not only supporting individual entrepreneurs but also contributing to the broader growth of India’s startup ecosystem. As the country continues to witness a wave of innovation across sectors, initiatives like Origami play a pivotal role in helping promising startups reach their full potential.
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