SCL makes first close at Rs.75-Cr for 'fellowship fund'

Supply Chain Labs (SCL), an initiative by investment firm Lumis Partners and TCI Ventures, among others, has announced the first close of its logistics startups-focussed "fellowship fund" at INR 75 crore. The fund will potentially invest up to INR 7.5 crore in each startup. It has 19 startups in its portfolio from its first two cohorts, over 80% of which have raised follow-on capital. Every year, the fellowship selects a distinguished group of 8-10 disruptive supply chain-focused startups, providing them with capital and expertise to help them build a stronger base.