WISH YOU HAPPY DIWALI

                                        " WISH YOU HAPPY DIWALI "

Venture Engine invests close to a million dollars in 10 Sri lankan startups

The Sri Lankan ecosystem has seen some uprising startup activity in the last couple of years. Prajeeth Balasubramanian and Rajan Anandan founded Blue Ocean Ventures has been at the forefront in terms of providing support to the startups along with the Indian Angel Network. In a recent announcement, Venture Engine which is a project by BOV and IAN, has invested $750k in ten Sri Lankan startups. Read the complete interview with Prajeeth to know about the Sri Lankan ecosystem and here is the list of startups followed by a conversation about the startups

500 Startups picks up a new batch of 33 startups, 36% companies outside the US

500 Startups is a US based accelerator founded by Dave McClure and has been known for funding a huge number of companies and across geographies. In its most recent batch announced yesterday, the company has picked up 33 companies to undergo acceleration. 12 of these companies are outside of the US and the number of Indian companies has come down to 2 this time around (SilverPush and Anyadir Education).
This year’s batch has the first biotech startup- uBiome, the first direct to consumer microbiome sequencing company. The batch also has a hardware company zBoard that sells a weight-sensing electric skateboard. The percentage of companies having women as the founding members has got down this time around with 5 of the 33 companies.