Global startup accelerator Kyron which is run by ANSR Consulting, is planning to raise about $3 million by the next quarter to invest in more startups between seed and Series A rounds. The firm is looking to raise capital from limited partners. ANSR had raised $9 million in a round led by Accel Partners last year. Infosys Innovation Fund has also invested in the company.
Launched in 2012 as a global accelerator, Kyron takes a 5 per cent stake for investment up to $50,000. It networks with industry investor groups — angels, individuals and venture capital firms — to help startups raise funds when they need it, and then helps them achieve milestones that bigger VC firms are looking for. The firm typically exits after 5-7 years. “We understand their business requirements and we manage it, including end-to-end ownership using the startup’s technology,” Venkat Raju, Managing Director, Kyron told DEALSTREETASIA.
Kyron has incubated over a dozen companies and last year it started a new program through which it has identified the business needs of Fortune 500 companies and linked them with innovative solutions offered by startups — effectively acting as a matchmaker. The startups work with the MNC for six months. Target Inc., one of America’s largest discount retailers, and Wells Fargo, the third-biggest U.S. bank by assets, are among companies that ANSR has partnered with.
Some of the Kyron-backed startups that are working with MNCs are not based in the same city. “Several of them have virtual remote engagement. For instance for fintech work for large companies, most of the startups are based out of Singapore, Israel or the Bay Area,” said Raju.
Kyron plans to back more than 500 companies in the next four years across the US, China, India, Malaysia, Czech Republic and Argentina. It has partnerships with the accelerator programs of Microsoft and Google. “Startups that graduate from their programs feed into ours,” Raju said.
Launched in 2012 as a global accelerator, Kyron takes a 5 per cent stake for investment up to $50,000. It networks with industry investor groups — angels, individuals and venture capital firms — to help startups raise funds when they need it, and then helps them achieve milestones that bigger VC firms are looking for. The firm typically exits after 5-7 years. “We understand their business requirements and we manage it, including end-to-end ownership using the startup’s technology,” Venkat Raju, Managing Director, Kyron told DEALSTREETASIA.
Kyron has incubated over a dozen companies and last year it started a new program through which it has identified the business needs of Fortune 500 companies and linked them with innovative solutions offered by startups — effectively acting as a matchmaker. The startups work with the MNC for six months. Target Inc., one of America’s largest discount retailers, and Wells Fargo, the third-biggest U.S. bank by assets, are among companies that ANSR has partnered with.
Some of the Kyron-backed startups that are working with MNCs are not based in the same city. “Several of them have virtual remote engagement. For instance for fintech work for large companies, most of the startups are based out of Singapore, Israel or the Bay Area,” said Raju.
Kyron plans to back more than 500 companies in the next four years across the US, China, India, Malaysia, Czech Republic and Argentina. It has partnerships with the accelerator programs of Microsoft and Google. “Startups that graduate from their programs feed into ours,” Raju said.
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