Startup accelerator PedalStart has announced the launch of its Series -2 fund, securing $250,000 to back early-stage startups.
According to the Gurugram-based company, the funds will be allocated to 5-7 promising early-stage startups who have demonstrated notable progress and execution over the preceding three to six months.
Co-founded by Manas Pal and Aditya Darolia in 2021, PedalStart offers a community-driven platform where young entrepreneurs can learn from the best in the industry, polish their ideas and skills, and more. There is also an accelerator as an additional layer to complement the community platform.
PedalStart will orchestrate the selection process for identifying the recipients of the fund through a vetting procedure, emphasising the execution and performance exhibited by startups within its accelerated startups. Entrepreneurs eager to vie for the Series-2 fund are encouraged to explore the application process on its website.
PedalStart claims that its community has grown to 10,000 startups, over 300 mentors, and 800 founders. The sector-agnostic platform invests across agritech, insuretech, cleantech healthcare & network and is looking to invest in sectors such as robotics, medical science, deep-tech and others. It has backed startups like Newtral.io, BetterSpace, Bull Agritech, OhLocal, and Rupid, among others.
In a recent interview with Entrackr, Pal said that PedalStart expects to onboard 2,000 founders to its community during FY24 and plans to invest in close to 20 to 30 startups at least, and accelerate close to 40 startups.
