LocalHost raises $2.5 million from Invideo, Red Bull India, others

Startup accelerator LocalHost has raised $2.5 million from Invideo, Red Bull India, Orangewood Labs and Eros International.

The fresh funding will be used to expand infrastructure, improve hardware capabilities, hire teams in different regions, and support more early-stage founders around the world, says cofounder Suhas Sumukh.

Read also- Blackstone leads $1.2 billion funding round in AI startup Neysa

“India has a massive STEM talent pool and is even larger than the EU and the US combined, with a lot of it coming from tier-2 and tier-3 cities,” said Sumukh, who is the COO of LocalHost. “But the problem is that investors and institutions tend to focus mainly on metro cities, and the bureaucracy can make it tough for young people to turn their ideas into something real, so localhost is a platform for builders from such cities.”

Bengaluru-based LocalHost is a startup accelerator founded by Kei Hayashi from Tokyo, Suhas Sumukh from Bengaluru, and Toronto-based Hardeep Gambhir.

In India, LocalHost runs a 50-day fellowship programme in Bengaluru, where it selects 15 founders in each group. The accelerator also operates in Tokyo and Cluj-Napoca, Romania. So far, it has invested $1.2 million in 15 startups.

Since launching its India programme, LocalHost has organised cohorts that include venture partners and other startup ecosystem members. Some startups that have graduated from the accelerator are Maya Research (AI and research tools), Prava Payments (fintech and payments infrastructure), Dawn Labs (product and engineering development), Whisperwave (audio and media technology), and Markov (AI and data tools).

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