IIT Patna Incubation Centre and BHUB BSFC Host Investor Summit, Attracting Investment Powerhouses

The Incubation Centre at IIT Patna, in partnership with BHUB BSFC, hosted an investor meeting. This event featured over 30 startup companies presenting their pitches to potential investors for angel funding. Know details here 

IIT Patna: The investor meet, hosted by the Incubation Centre at IIT Patna in collaboration with BHUB BSFC, a co-working space managed by the Department of Industries, Government of Bihar witnessed presentations from over 30 startup companies seeking angel investment. The event attracted a distinguished group of investors, including representatives from Venture Catalysts, Scope Ventures, Kolkata Ventures, Cocreate Ventures, Neos Angels, Alphavalue Consulting, IP Ventures, GTM Health, as well as individual investors like Khalid Wani and Sarada Vyshnavi Putcha.

Under the guidance of the Department of Industries, Government of Bihar, the state is poised to emerge as a significant centre for startups in the near future. This is attributed to the fast-paced expansion of the startup ecosystem, marked by an increasing tally of startups and a surge in investment activities.

Mr Sushant Kumar, Founder of Indus Capital and Eskeyn Ventures has committed cumulatively investments of up to 1.5 Mn USD (Approximately Rs 12 Crore) to 3 startups supported under BHUB BSFC. Ladyfair Beauty, Foodam and Travicabs are the startups that have secured investment commitments. He conveyed his optimism that these investments would pave the way for numerous other multi-million-dollar funding initiatives for startups within the Bihar ecosystem in the foreseeable future.

He has also stated that these companies are using unique technology and innovation platforms for generating revenue, employment and women empowerment. He mentioned that he is committed to supporting these startups in their growth in the upcoming years.  

Startup Companies at IIT Patna Investor Meet 

Ladyfare Beauty Concepts Pvt Ltd, also known as Ladyfair, has introduced its online app, offering door-to-door beauty services, and now operates in 18 cities.

Travinow Service Pvt Ltd, under the brand Tavicabs, is poised to challenge existing online cab services in Bihar by offering one-way long-distance cab/taxi services at competitive prices, according to Pravin Anand, Founder and CEO. This makes it the second company to secure an investment commitment.

Foodam Food India Pvt Ltd has expanded its operations across Bihar, catering to the daily food and grocery needs of households via its user-friendly digital application, Foodam. The app is designed as a comprehensive solution for food, grocery, milk, fish, meat, and vegetables, setting it apart from competitors. 

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