Sunday, September 25, 2022
HomeInsightFunding Alert Startup accelerator Upekkha raises $9 million from WestBridge Capital

[Funding alert] Startup accelerator Upekkha raises $9 million from WestBridge Capital

Startup accelerator Upekkha
Startup accelerator Upekkha

Upekkha, an accelerator and early-stage investment firm for SaaS startups, has raised $9 million from WestBridge Capital towards its rolling fund that will look to invest in around 50-60 startups in the current financial year.

Upekkha helps founder craft Value SaaS business. Value SaaS is different from Vanity SaaS, it is building a subscription business in a capital efficient way and getting there fast.

“India SaaS has seen phenomenal growth in the last five years. By 2025, it is positioned to reach $30 billion in revenue and double its global market share to eight percent. Upekkha is leading this growth, having enabled 72 SaaS startups to go global over the last four years.” Shekar Nair, Partner and Co-founder, Upekkha, said.

In 2021, it backed around 10 startups, and also participated in a Series A round of one of its portfolio companies, a senior company official said.

“When we started WestBridge 20 years ago, we wanted to help Indian startups go global. Before Upekkha, India lacked a strong ecosystem and platform focused on helping early-stage SaaS founders build successful and large businesses. Today, we see Upekkha as a key partner, bridging that gap for early-stage SaaS founders who want to go global while staying rooted in India,” said, Sumir Chadha, Co-founder and MD at WestBridge Capital, and a lead investor in UP Funds.

founded in 2017 by Prasanna Krishnamoorthy, Shekar Nair, and Thiyagarajan Maruthavanan, Upekkha has accelerated 72 startups, of which seven of the first 10 have crossed $1 million in ARR profitably.

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