US-based startup accelerator Alchemist has received $4m from BASF Venture Capital, chemicals company BASF’s corporate venturing unit, and financial services firm Qatar Development Bank, TechCrunch has reported.
Founded in 2012, Alchemist selects 75 business-to-business startups a year, providing $36,000 seed funding and six months of mentoring to each. BASF provided $2m as a limited partner in March this year but did not confirm whether that represented its contribution to this deal.
Alchemist’s latest cohort, Class XXI, features autonomous drone technology developer Aero Systems West, multi-cloud networking software producer Bayware, automotive processor provider DinoPlusAI, data management platform developer Kapalya and produce packaging system developer MotorCortexAI.
Perioperative procedure software provider OpComm, cybersecurity technology startup Operant Networks, donation platform developer PayBee, educational software producer QPi, document modification software developer Relayto, productivity training app developer Resilio and energy infrastructure aerial control provider Resolute Labs were also among the group.
The batch was filled out by mobility management software developer SafeMode, digital car wash control system provider WWWash, message automation software developer ChatCreate, thigh-performance computing technology provider HPC Hub, predictive system developer MechanicaAI, workplace safety-management software provider SafetyTek and customer engagement platform operator Wisdom.
