Graviton, one of India’s Web3-focused accelerators, has unveiled a list of teams that have been accepted into the second edition of its 16-week program.
This update comes nearly a month after the syndicate-backed fund stopped accepting applications, and was preceded by “a nationwide hunt for builders, including a 2-month national roadshow across New Delhi, Pune, Chennai, Hyderabad, Kochi, and Bangalore.”
Last year, Graviton announced its initial portfolio of teams “that were building for web3 infrastructure tools, DeFi, payments & rewards, real-world asset tokenization, and GameFi.”
Their inclusion in the cohort translated into “an average seed investment of $42,000 per team, alongside a carefully curated combination of 1:1 technical workshops with mentors in business, web3 tech fundamentals, security, marketing, sales, and fundraising.”
One advantage that the Graviton-backed crop of teams had was that they received hands-on feedback & training in terms of “refining their fundraising efforts, directly from VCs who are a part of the Graviton capital network.”
This includes the Hashkey group (A leading force in Asia’s web3 investments), NGC Ventures, Moonrock Capital, and others.
A globally simulcast Demo Day & a series of targeted outreach campaigns at the end of the program elevated “the visibility of Graviton-backed startups, resulting in quick closures of the follow-up funding rounds for these teams.”
Fetch.xyz raised $1.5Mn in a pre-seed round led by Hashkey.
The GameFi team was “wholly acquired by a global player, and the other teams (Spydra, Zoth, etc) are on their way to completing & announcing their respective venture funding rounds.”
Graviton CEO Arpit Nik, who floated the idea of launching an India-focused accelerator during his time as a General Partner in a global web3 fund, said:
“We’ve always believed in the potential of investing in and then grooming some of India’s strongest founders, and the results have perpetually yielded fascinating, high-quality products that make the Indian ecosystem proud”.
He refers to the pedigree of founders such as Manish Tewari, Pritam Dutta, Mandar Ray, and many others who have graduated from the Graviton stable.
Huddle01 seeks to enable projects and teams around the world operate “at scale through its celebrated and completely decentralized video conferencing infrastructure, and through Graviton, the platform will continue to have exposure to, as well as fuel both 1:1 and 1:many sessions between Graviton’s mentors and folks building some of the most potent next-gen web3 infrastructure.”
Ayush Ranjan, Co-founder & CEO at Huddle01, said:
“Enabling collaboration and innovation is at the heart of what we do at Huddle01. Excited to be joining forces with Graviton for the second volume of their Accelerator Program and act as a catalyst to help propel such innovative ideas forward. We’re not just providing a platform for video meetings; we’re fostering a community where early-stage startups can thrive.”