Bitchemy Ventures Invests In 3LOQ Labs, Altiux, Cafyne

Sunil Motaparti's tech incubator BitChemy Ventures has announced an investment of $6 Mn in three incubatee companies – 3LOQ Labs, Altiux Innovations and Cafyne Inc, says Yourstory.

Hyderabad based 3LOQ Labs is a mobile marketing company which combines valuable Telco data that enables brands and retailers to understand individual customer’s behaviour, based on past action and context with advanced machine learning.

Altiux, based Out of Bangalore 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.

It specializes in building next-gen products, solutions, platforms and IP in emerging technology domains such as M2M & IoT, Engineering Analytics, Smart Devices & Cloud Media, Mobility Solutions and Industrial/UI/UX Design.

Cafyne is a US-based startup which helps enterprises protect their brand by ensuring compliance to regulatory and company policies.

Incorporated in 2012, BitChemy Ventures Pvt Ltd also operates as a seed fund along with being an incubator. It has a turnover of $1 Bn and operates in more than 10 countries and 8 industry sectors. The firm invests up to $2 Mn in each company it incubates and joins them as a co-founder.

Sunil Motapatri, the Founder and Director of BitChemy Ventures is an M.S. in Computer Engineering from Carnegie Mellon and has extensive experience in startup development, technology management, business development, and marketing. It had led product & business development efforts at his previous venture, KeyPoint Technologies. Before KeyPoint, he had held various roles in product research and development within the Semiconductor Design software industry.

Bitchemy Ventures is also open to investing in early-stage companies with funding up to $100,000 each as a minority stake holder. The firm focuses on both B2B and B2C sectors and is looking to invest in three to four companies across the globe every year.

Last year, Bangalore-based Dhruva Interactive had set up an incubator called Gametantra targeting mobile game developers which would offer space and mentorship in return for a 3-7% stake.

It has also been found that in 2014, US retailer Target will set up a tech incubator in Bangalore. The Target Accelerator Program will invest up to $30,000 in one or two companies every year for equity.

In 2011, Intel Capital had announced its investment of $20Mn in six tech startup companies in India - Saankhya Labs, Testing Czars, Financial Inclusion Networks and Operations, What's On India, enStage and Duron Energy.

In this space, Sify Technologies, an integrated ICT Solution firm was planning to invest in or partner with technology startups focusing on cloud, security and managed services.


Source: DealCurry, January 6th 2015

Tuesday, January 6, 2015 - 09:00
Pranali Shah