UK-based investor Entrepreneur First (EF) is backing six Indian deep tech startups, as part of its third cohort, focusing on cutting-edge technologies such as Artificial Intelligence (AI) and Machine Learning (ML) across different industries.
Co-founded in London in 2011 by Matt Clifford, EF entered India last year to promote tech startups in the country. The talent investor has supported over 200 founders and helped create and invested in 20 Indian tech start -ups in the 18 months since its launch.
EF’s investment strategy bridges traditional venture capital funding and startup development by investing in talented entrepreneurs and companies at early- and pre-seed stages.
“The scale of this year’s global crisis is unprecedented. However, this hasn’t stopped Entrepreneur First’s third cohort of ambitious and talented founders to start globally relevant companies here in India,” said Matt Clifford, co-founder and CEO, Entrepreneur First.
“We are very bullish on Indian tech entrepreneurs, and are committed to supporting them even through the current economic situation.” said Esha Tiwary, General Manager, India, Entrepreneur First.
In this round, EF has invested a pre-seed amount of $55,000 in six tech startups that are using deep learning technologies like AI, ML, 3D computer vision to solve problems across industries.
“The founders from this third cohort have faced incredible headwinds and adversity. But we continue to be impressed by their resilience and resolve to build globally important companies,” added Tiwary.
EF has placed its bets on six startups that use technologies like AI, Ml and 3D computer vision to build solutions across different verticals are MedPay, Retail Pulse, LitmusEye, Vadoo, Marlin and BrainEntech.
“EF puts you with some of the best capable and outstanding individuals. Being in this cohort really pushes you to perform at your top-level. The best part is, you come out with an amazing group of friends and a network that is unbeatable,” said Zaraif Hossain, co-founder & CEO at Retail Pulse, that uses computer vision to empower consumer goods businesses to harness data from retail stores.
Since its launch, the investors have seen a high quality of founders and startups at EF India and are convinced that world class innovative technology-led startups can be created from this region. EF continues to work with other ecosystem players and investors to create a robust structure for supporting early stage tech entrepreneurs in India.
This article was first published on livemint.com