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The Morpheus Closes Third Fund (INR 3.5 Cr)

Startup accelerator, The Morpheus has raised third round which currently stands at INR 3.5 Crores (can go up to 4-5 Crores as they add more LPs).

LPs from previous round have also participated in the round and some of the LPs in this fund are

  • Vijay Shekhar Sharma, Founder & Managing Director, One97 Communications Ltd
  • Anand Ladsariya, Director & CEO Everest Flavors Ltd.
  • Pallav Nadhani, Founder & CEO, Fusion Charts,
  • Ravi Srivastava, Managing Partner Purvi Capital,
  • Saurabh Jindal, LP in Avishkaar & Morpheus Dwitiya

themorpheus_scorecard

As far as the model is concerned, nothing changes. The Morpheus will select teams once in 6 months and provide them with 4 months of intensive engagement, 5 L INR funding per startup & support.

As part of Morpheus Dwititya, we had raised 95L and we have invested 80% of that, mostly into startups that were part of our batch 4 & 5, with the other 20% reserved for follow-on co-investments in our current portfolio.

Here is a quick QnA with Sameer and Nandini of The Morpheus team

Plans post-funding. So far you have announced a min. investment of INR 5L in your portfolio companies. Do you plan to increase this amount?

Nothing changes in the model. We will still follow the same accelerator model, where we select teams once in 6 months via call for applications and provide them with: 4 months of intensive engagement, induction into the exclusive Morpheus Gang (a community of 70+ portfolio founders, investors & partners), 5 L INR funding per startup & life long support. We run 2 Batches each year & can accommodate upto 10 startups per batch.

Sectoral Performance : Which sectors (in your portfolio) do you think has an opportunity for exponential growth (I know this cannot be answered in 1 line, but a general overview of high performing sectors would help).

We remain sector agonstic as a fund but couple of areas which are looking good are

  • Long tail content networks ( Instamedia &  Lifemojo)
  • SaaS (Practo, InterviewStreet, Reachtax, Make my points)
  • Hardware based plays – high entry barrier (emo2, Phitesla, Robots Alive)

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