thinQbate partners with Hatcher+; to gain additional capital, network
Accordingly thinQbate and Hatcher+ will invest in 20 start-ups over the next three years.
Besides additional capital for its portfolio companies the Mumbai-based incubator is expected to gain access to Hatcher+ s extensive network enabling it to have a "soft landing" across different geographies.
"Hatcher+ is a notable player in the global market and we are thrilled to be their first partners in India. Working with Hatcher+ will exponentially increase the infrastructure and network we can bring to our portfolio companies as well as significantly add to the size of our capital contribution " thinQbate Founding Partner Pranav Marwah was quoted as saying in a statement.
"thinQbate s investment ethos has always been about bringing strategic value to our portfolio companies rather than only capital and our partnership with Hatcher+ will help us further this goal."
According to Sauvik Banerjjee (CTO TATACLiQ and VP Digital Initiatives at Tata Industries) who acts as an advisor to the thinQbate founding team: "The cornerstone of thinQbate s model is to encourage sustainable growth and the organisation has made tremendous progress since its inception just two short years ago."
"I am excited by the opportunities a partnership with Hatcher will bring for the young and dynamic team at thinQbate."
Wissam Otkay partner at Hatcher+ commented: "They (thinQbate) are in our view one of the leading early stage investment and incubation programs in India."
The Mumbai-based incubator was founded in 2016 and is based on a community centric entrepreneur-first approach to angel investment and incubation.
It aims to help annual cohorts of fresh ideas and minds thrive through capital investment as well as offer value-added benefits.
Currently thinQbate is moving into its second cohort where it is looking to invest up to $50 000 in six to eight portfolio companies.
--IANS rv/in
