According to the Gurugram-based organization, the funds will be distributed to 5-7 promising early-stage startups that have shown significant progress and execution in the last three to six months. Manas Pal and Aditya Darolia co-founded PedalStart in 2021, and it provides a community-driven platform for young entrepreneurs to learn from the finest in the business, refine their ideas and talents, and more.
In addition to the community platform, there is an accelerator layer. PedalStart will manage the selection process for identifying fund beneficiaries through a vetting method, with a focus on the execution and performance of firms in its accelerated startup program.
Entrepreneurs interested in competing for the Series-2 fund should visit its website and learn more about the application procedure. PedalStart boasts that their community has expanded to include 10,000 companies, over 300 mentors, and 800 founders.
The sector-agnostic platform invests in agritech, insuretech, cleantech, healthcare, and networks, with plans to expand into robotics, medical science, deep tech, and other areas. It has backed startups including Newtral.io, BetterSpace, Bull Agritech, OhLocal, and Rupid, among others.
In a recent interview with TotalBulletin, Pal stated that PedalStart hopes to recruit 2,000 founders into its network during FY24, as well as invest in 20 to 30 firms and accelerate close to 40.
