BitChemy Ventures, a Hyderabad-based tech incubator-cum-seed fund, has invested a total of $6 million in three incubatee companies so far. The firm, which is looking to incubate three-four ideas from across the globe every year, is close to investing in another company.
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Based out of Bangalore, Altiux helps large MNCs as well as startups in joint IP development, prototyping, new product introduction, concept development, product re-engineering and emerging market-focused solutions.
An entrepreneur himself, Motaparti had led product & business development efforts at his previous venture KeyPoint Technologies. Before KeyPoint, he held various roles in product research and development within the semiconductor design software industry. He is also the co-founder of all the three companies BitChemy is incubating currently.
“We invite ideas from entrepreneurs, and are operationally involved in building the ventures and cover all critical functions with our teams. We invest up to $2 million in each company we incubate and we also join them as a co-founder. We are similar to Rocket Internet in a way that we take innovative ideas in technology and combine them with disruptive business models to build unique companies. However, our market is wide and we focus both on B2B and B2C sectors. ” said Motaparti. The firm has 8 staff on board.
Motaparti claims that the firm is also getting applications from across the world for incubation as well as investment. BitChemy also invites early-stage companies (which have some validation) for investment of up to $100,000 each in return for a minority stake.
The Story first appeared on Nextbigwhat here