India: Oxigen founder launches startup accelerator Aarambh Ventures, Schoolwear.in raises $1.5m

Oxigen’s founder Pramod Saxena has launched startup accelerator Aarambh Ventures and Schoolwear.in, a Mumbai-based online platform which sells school uniforms and supplies, has raised Rs 10 crore ($1.5 million) in seed funding.

Oxigen Founder Pramod Saxena launches startup accelerator Aarambh Ventures

Pramod Saxena, founder of mobile wallet services firm Oxigen, is setting up an innovation center called Idea Lab at IIT-Roorkee and Greater Noida campus through a startup advisory firm Aarambh Ventures.

Indian Institute of Technology (IIT), Roorkee and Aarambh Ventures have signed an agreement to set up an Idea Lab through Aarambh Ventures at IIT, Roorkee, and accelerator at Greater Noida campus.

The accelerator will identify, support and grow startups in the sectors like technology, mobile, health, agriculture, cleantech, energy, IoT, AI, big data & fintech. It is supported by Unitus Seed Fund, Omnivore Partners, IvyCap, LetsVenture, Design for Use and others, the company said in a press note.

Mumbai-based Schoolwear.in raises $1.5m

Mumbai-based Schoolwear.in which sells school uniforms and supplies, has raised Rs 10 crore ($1.5 million) in seed funding from the promoters of Navneet Education Ltd.

The company will use the money for launching a range of school products across 500 schools in 15 cities by the end of 2016, according to a VCCircle report.

Founded in 2014 by Ketan Zaveri and Amit Zaveri, Schoolwear.in claims to have sold uniforms to around 30,000 households in Mumbai alone.

Oher players in the segment include Schoolkart.com and Fastudent.

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