Anthill Ventures to pour up to $1m in consumer startups via new accelerator

Early-stage investment company Anthill Ventures is set to invest up to US$1 million in consumer brand startups in India with the launch of an accelerator program called Urban-I, in partnership with local celebrity Rana Daggubati.

Prasad Vanga, founder and CEO of Anthill Ventures / Photo Credit: Anthill Ventures

For the program’s first cohort of startups, Anthill said in a statement that it plans to shortlist a group of five to nine startups operating in the personal care, fashion and accessories, food and beverage, health and nutrition, consumer tech, and ecommerce spaces.

“There is an explosion of consumer brand startups that are redefining consumer preferences and lifestyle,” said Daggubati. “India has many promising young startups in this space that have the potential to scale up rapidly if they are provided with the right support.”

Companies looking to enter the program, set to start February 3, 2020, can apply until December 23 this year. It is scheduled to culminate in a demo day next year on August 3.

Participating startups will be given market access, sales and distribution support, mentorship services, and marketing and brand building support. The program will also plug the selected startups to Anthill’s customer network through partnerships with leading retailers, distributors, and ecommerce firms.

The startups will receive US$100,000 in investment upfront and up to US$1 million upon the program’s completion. An additional syndicated US$3 million smart capital, as well as infrastructure and digital services worth up to US$500,000 will also be provided.

According to the company, the startups will also gain access to use case proof of concepts at over 50 corporate market access channels.

Earlier this year, Anthill announced that it has chosen 15 companies as part of a six-month market access program based in Singapore. As part of the program, the startups would be offered US$20 million through the company’s network of co-investors.