India-based retail and real estate group Primarc has set up a corporate venturing unit called Primarc iVenture to invest in startups, the Economic Times reported yesterday.
Primarc iVenture will invest between $7,500 and $22,500 in startups at angel stage, and between $37,000 and $150,000 at a more advanced stage.
The fund will target startups based in the Indian state of West Bengal, particularly those with potential for social impact or which are developing unique ideas.
Startups to have received funding from Primarc iVenture so far include Catapoolt, Ketto, I-Kure, Sampurn(e)arth Environment Solutions, Design Cafe and Swarna Pragati, though the exact details of amounts have not been disclosed.