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Fluid Ventures to invest Rs 25 crore in early-stage D2C startups in 2022.
Fluid Ventures, a micro venture capital fund, said it will invest Rs 25 crore (about $3.3 million) in early-stage direct-to-consumer (D2C) startups that generate sales of over Rs 50 lakh per month.
The fund has already invested in three brands since its launch six months ago, including an online fabric retailer in Jaipur ; a Bengaluru-based sustainable toy brand and a Delhi-NCR based home furnishing company.
Before March 2022, Fluid Ventures will invest in four companies with a ticket size of up to Rs 2 crore as a first check and participation in subsequent rounds of additional capital.
“The fund is on a mission to invest in visionary entrepreneurs building world-class digital consumer brands,” said Amit Singhal, General Partner, Fluid Ventures.
Taaran Chanana and Kyle Fernandez, co-founders of MemeChat
MemeChat secures over $1 million in second round of funding
Social networking app secured more than $1 million in a second round of funding led by Beenext, a Singapore-based venture capital firm.
Angel investors including Stanford Angels & Entrepreneurs, 9unicorns, Founders Room Capital, Gaurav Munjal, Roman Saini and Abhishek Goyal also participated in the round.
Launched in 2019 by Kyle Fernandez, MemeChat is a social networking app for Gen Z and Millennials and has over five million downloads. The startup connects brands and creators on the platform, with users creating new memes.
Kyle Fernandez, co-founder and CEO of MemeChat, said: “In just over two years, MemeChat has experienced exponential growth and unwavering belief from a strong investor base.”
“As a company, we will continue to focus on building a larger creator economy, renewing our product portfolio, leveraging strategic brand partnerships and much more,” he added.
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