8i Ventures, India's early-stage venture capital fund, introduces second edition of its pre-seed funding program Origami, aimed at supporting early stage founders. The program’s first edition, launched in March 2024, saw an overwhelming response, as the fund invested $ 600k in three startups. These are Cobalt, a SaaS platform for native integrations, Cautio, a fleet dashcam & video telematics platform, and another pre-launch startup.
Origami program offers rapid funds access ensuring a streamlined process guaranteeing a response within 1 week , a term sheet in 2 weeks, and deal closure in just 4 weeks.
Vikram Chachra, Founding Partner, 8i Ventures said, “At 8i Ventures, we believe that India is on the cusp of a technological revolution, and we're committed to nurturing the next generation of innovators. With Origami V2, we're doubling down on our mission to provide early-stage startups with the resources they need to succeed. Continuing our $10 million allocation, we aim to invest in more pre-seed startups this year and potentially double down if the program proves successful. By offering rapid funding and a supportive ecosystem, we aim to accelerate the growth of India's startup landscape and drive positive change.”
In the middle of the funding winter season, 8i Ventures announced the first close of its $50 million second fund by raising $25 million. The firm has allocated $10 million from Fund II, to launch this initiative.
Vishwanath V, General Partner, 8i Ventures said, “We're looking for founders with a clear vision and a deep understanding of their customers' pain points. We offer rapid funding and support to help them turn their ideas into successful businesses. We’re looking for a clear insight into a customer problem and a specific approach to both the solution & go-to-market. Additionally, we seek teams with a well-rounded skill set, encompassing technology, product development, and sales.”
8i Ventures has a successful experience with early cheques, with the first investment of $200k in M2P Technologies fetching 36 times returns. M2P, recently raised another round at $800M. 8i Ventures has also invested early cheques in companies like Slice, Easebuzz and Bbetter, which have scaled many times over after that seed cheque.
