A value SaaS accelerator platform, Upekkha raised USD 9 million from Westbridge Capital on February 25, 2022. The firm invested into Upekkha’s UP funds – a SaaS-focused rolling fund on AngelList USA. UP funds will look into 50-60 startups in the current financial year. Upekkha’s UP Funds will help Indian startups to scale globally.
Upekkha’s UP Funds
UP funds launched in 2021 help startups overcome early-stage bottlenecks. It includes founder-friendly funding that protects their future options.
The rolling funds allow the investors to invest in a revenue-based financing model. This model is equity led rather than involving debt. Generally, it invests USD 100 million- USD 200 million in companies.
In the previous year, UP Funds backed around ten startups. It also participated in the Series A round of one of its portfolio companies.
UP funds will invest in 60 companies across Upekkha’s accelerator programme.
What Upekkha’s co-founder has to say
Shekhar Nair, Partner and Co-founder, Upekkha, said, “India SaaS has seen phenomenal growth in the last five years. By 2025, it is positioned to reach $30 billion in revenue and double its global market share to eight per cent. Upekkha is leading this growth, having enabled 72 SaaS startups to go global over the last four years.”
What Westbridge Capital has to say-
“When we started WestBridge 20 years ago, we wanted to help Indian startups go global. Before Upekkha, India lacked a strong ecosystem and platform focused on helping early-stage SaaS founders build successful and large businesses. Today, we see Upekkha as a key partner, bridging that gap for early-stage SaaS founders who want to go global while staying rooted in India,” added Sumir Chadha, Co-founder and MD at WestBridge Capital, and a lead investor in UP Funds.”- Sumir Chadha, co-founder and managing director at Westbridge Capital.
About Upekkha
Prasanna Krishnamoorthy, Shekhar Nair and Thiyagarajan Maruthavanan are founders of Upekkha. It is a Value SaaS accelerator that helps startups create Value Saas business. It builds a subscription model business in a quick capital-efficient way. Surprisingly, the founders had no prior experience in the Saas led platforms. However, Upekkha’s success speaks for itself.
Over the course of four years, they have accelerated 72 startups. Seven of the first ten startups have crossed USD 1 million in ARR profitably.
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