This new accelerator in India takes no equity. Here are its first 4 startups

A startup needs all the help it can garner in its early stage. Founders run from pillar to post seeking funds to establish their businesses. But the one thing that bothers them, more than the hassles of fundraising, is losing equity in the company. But who would want to invest in a business, take up the risk, without claiming any equity? In India, Peesh Venture Capital (PVC) is doing exactly that.

PVC is an early-stage investment firm and a startup accelerator. It focuses on startups in the areas of ad tech, ecommerce, wearables, and Internet of Things (IoT). Its recently launched accelerator program yesterday announced its first batch of four startups. Each of these Indian startups will undergo the six-month program where they’ll be trained, nurtured, and made market-ready. Each of them will also receive INR 3 million (US$47,000) in funding without having to give up any equity.

The accelerator follows the Ocean Accelerator Curriculum, wherein all the participants are trained and mentored by a team of experts in the areas of legal services, finance and accounting, HR, product development, sales and marketing, and operational guidance. It also assists them to raise their series A funding.

“I strongly believe that an accelerator’s role is to empower entrepreneurs and not taking advantage of them at such an early-stage, where they need maximum support from their mentors,” says Peesh Chopra, managing partner at PVC. “The PVC Accelerator no-equity model gives us access to the best startups in India along with six months of working experience with them, in order to determine if they are ready for series A funding. PVC will only take an equity stake if it invests in the accelerated companies’ series A round.”

The four chosen startups are:

1. Madpiggy

Madpiggy is a Gurgaon-based shopping app that allows merchants to publish deals. Being a location-based app, users in a particular area can view and avail all the available deals at the shopping outlets and malls in that area.

2. SenseGiz

This startup is based in Balgaum, Karnataka. SenseGiz develops products in the IoT and wearables space.

3. Transtutors

Transtutors is a Delhi-based startup that offers assistance to students to complete their homework via its network of online tutors.

4. RocketFood

RocketFood is a Delhi NCR-based startup that offers food delivery and take-away services. It offers healthy North-Indian cuisines that are low on oil and spices.