Chiratae Ventures Launches 2024 Cohort of Chiratae Sonic Program

Chiratae Ventures, an Indian venture capital firm, has announced the launch of the 2024 cohort of its seed investment initiative, Chiratae Sonic. This program aims to accelerate and democratize the fundraising process for early-stage tech startups, building on the success of previous editions. The initiative provides standardized deal terms for equity investments and rapid due diligence through trusted partners.

Sonic 2024 Highlights

Rapid Decision-Making
Chiratae Sonic continues to redefine seed investments by offering a 48-hour turnaround on initial reviews for funding requests of up to USD 500,000.

Broader Funding Scope  
This year’s program expands its funding scope, welcoming applications from startups seeking to raise up to USD 2 million.

Fixed Application Window  
To expedite the investment process, Sonic 2024 introduces a fixed application window that will remain open until October 31, 2024.

Mentorship and Support 
Founders participating in the program will benefit from mentorship by experienced industry professionals and access to various perks and services aimed at supporting their growth.

Previous Successes

In the previous two editions of Chiratae Sonic, Chiratae Ventures invested approximately USD 25 million across 20 companies at the seed and pre-series-A stages, helping early-stage tech startups navigate the challenges of scaling and fundraising.

Venkatesh Peddi, Managing Director, Chiratae Ventures, said, “Chiratae Sonic has played a key role in supporting the identification of promising early-stage startups. Our focus on swift decision-making and extensive support has enabled founders to establish successful companies. We look forward to continuing this approach with the 2024 cohort, furthering technological innovation in India and beyond."

While Sonic invites applications from companies across sectors, there is a particular focus on disruptive platforms across segments such as DeepTech, Generative AI, Climate Tech and Manufacturing Tech (Factory 5.0). Sonic’s previous cohorts include startups like BeepKart, Claimbuddy, Emitrr, HexaHealth, Metadome, LocaleAI and Skyeair among others.  

Ranjith Menon, Managing Director, Chiratae Ventures said, “At Chiratae, it’s our privilege to have seen the entire life cycle of technology startups that have disrupted global industries, from Seed to IPO. Sonic is an initiative to deepen our engagement with the next wave of founders building frontier technology platforms defining the global economy in the next decade.” 

Chiratae Sonic 2024 Application Window and Benefits for Startups

The application window for the 2024 Chiratae Sonic cohort is open on the Chiratae Sonic website from August 21, 2024, until October 31, 2024. Technology startups across sectors looking to raise their seed investment round can apply during this period.

The 2024 Sonic cohort will gain access to a range of partner benefits aimed at accelerating their growth. This includes significant cloud credits from major providers, which will help startups scale their operations while minimizing costs. Additionally, startups will be able to collaborate with companies in the Chiratae portfolio, opening doors to strategic partnerships with some of the most innovative businesses in the industry.

The cohort will also be connected to a network of experienced industry experts and mentors, who will offer guidance on product development, market strategy, and other key areas. This support is designed to help startups achieve long-term success, beyond just securing funding.

Kailash Nath, AVP-Head of Seed Investments, Chiratae Ventures said, “The role of technology as a differentiator in early-stage ventures has assumed an exponentially higher level of importance in the recent times. Not only has this changed the way founders build disruptive products and platforms, it has also provided newer frameworks for Venture Capital investors to evaluate opportunities at seed stage. Sonic gives us a ringside view into the evolving DeepTech ecosystem in India as we continue to back audacious entrepreneurs solving population-scale problems.”

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