888VC launches Rs.175-Cr fund to back early-stage deep-tech startups

Bengaluru-based, Rohit Bafna-led early-stage accelerator 888VC has launched its maiden INR 175 crore (about USD 19 million) alternative investment fund (AIF) called 888VC Accelerator Fund; the investment firm bids to back early-stage startups operating in sectors like AI, deep-tech and sustainability startups, with an average ticket size between INR 2 crore and INR 4 crore. 888VC will focus on backing ventures that are capable of scaling from India to other countries.The firm claims to have deployed USD 12 million across 20 startups including cleantech startup EcoRatings, women's hygiene-focused D2C (direct-to-consumer) brand Sanfe, and SaaS startup Finly.