8i Ventures Launches 2nd Edition of Pre-Seed Program Origami to Fuel Startup Ecosystem The program offers rapid access to funding, with a streamlined process designed to provide founders with a response within one week, a term sheet in two weeks, and deal closure in just four weeks.
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8i Ventures, an early-stage venture capital firm, has announced the second edition of its pre-seed funding program, Origami, aimed at empowering early-stage founders.
Following the success of the first edition in March 2024, which saw the fund invest USD 600k in three promising startups, 8i Ventures is scaling up its efforts to support more founders in the Indian startup ecosystem.
The inaugural edition of Origami included investments in Cobalt, a SaaS platform for native integrations, Cautio, a fleet dashcam and video telematics platform, and another pre-launch startup.
The program offers rapid access to funding, with a streamlined process designed to provide founders with a response within one week, a term sheet in two weeks, and deal closure in just four weeks. This efficient approach has been well-received by founders, as it allows them to quickly move forward with their ideas.
Vikram Chachra, Founding Partner at 8i Ventures, said, "At 8i Ventures, we believe India is on the cusp of a technological revolution, and with Origami V2, we're doubling down on our mission to provide early-stage startups with the resources they need to succeed."
Chachra added that the firm plans to continue its USD 10 million allocation for the program this year and could increase the amount if the initiative proves successful.
In a challenging funding environment, 8i Ventures has also made strides with its second fund. The firm recently announced the first close of its USD 50 million Fund II, raising USD 25 million. Out of this, USD 10 million has been allocated specifically to support the Origami program.
Vishwanath V, General Partner, 8i Ventures, added, "We're looking for founders with a clear vision and a deep understanding of their customers' pain points. We offer rapid funding and support to help them turn their ideas into successful businesses. We're looking for a clear insight into a customer problem and a specific approach to both the solution and go-to-market. Additionally, we seek teams with a well-rounded skill set, encompassing technology, product development, and sales."
8i Ventures has a track record of successful early investments, such as their USD 200k seed investment in M2P Technologies, which generated 36 times the return. Other successful investments include Slice, Easebuzz, and Bbetter. The fund claims to have backed over 50 startups, creating more than USD 5 billion in value for shareholders globally.
