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9Unicorns achieves third close at $40 million, commits investments in 40 startups

NEW DELHI: 9Unicorns has announced the third close of its first accelerator fund at $40 million to fund idea-stage startups in India, thus emerging as one of the fastest and most aggressive player with more than three dozen deals. The Venture Catalysts (VCats)-backed accelerator’s total fund size is $70 million and plans to mark the final close this year.
Built on Y Combinator lines, the Mumbai-based sector-agnostic fund has already committed investments in about 40 startups within seven months of its first close. Of that, 25% of startups have already raised bigger rounds of investments within a range of 2X – 4X valuation. For example, Janani.ai, a technology-driven fertility care provider that raised its seed round from 9unicorns in…

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