Startup News: JITO Incubation and Innovation Foundation, a Mumbai-based Investment platform, has announced plans to make fresh investments in startups. According to a media statement, JITO Incubation and Innovation has decided to invest up to Rs 100 crore in startups.
JITO Incubation and Innovation said that it will invest in early-stage startups in the next 12-18 months, as per the statement.
"Over the next 12 to 18 months, the platform plans to invest approximately Rs 80 to Rs 100 crore, with an aim to back 20-25 startups annually. Its investment ticket size currently ranges between Rs 1.5 crore and Rs 2 crore, depending on stage and sector," JIIF said in a statement.
JITO Incubation Foundation is a well known incubator and angel network. It supports early-stage startups and has so far invested more than Rs 150 crore in different startups over the last two years. JITO Incubation and Innovation has also exited more than 15 startups in the period.
JITO Incubation and Innovation said that it recently made a Rs 26.5 crore in Mumbai-based Atomic Capital.
"Our partnerships with platforms such as Startup Singham and Lead to Unicorn have helped us access high-quality opportunities. Our investment in Atomic Capital marks a significant step in expanding our investment capabilities and accessing differentiated opportunities. Alongside, the planned APAC accelerator programme will support founders at scale across geographies," JIIF Chairman Jeenendra Bhandari said.
Going forward, JITO Incubation & Innovation is planning to launch an accelerator programme focused on the Asia-Pacific region. It ill cover India, the Middle East and Southeast Asia. JITO Incubation and Innovation's accelerator programme will target early-stage startups across sectors such as artificial intelligence, fintech, climate, mobility and digital infrastructure.
