Bangalore: 5ideas, a startup seed fund provider has planned to raise $10 Million (Rs 54 crores). This seed funding firm plans to utilize the raised amount to assist 40 technology startups and also to assist budding entrepreneurs in the next three years, as reported by EconomicTimes.

Founded by Fashionandyou.com co-founder Pearl Uppal and dealsandyou.com co-founder Gaurav Kachru, 5ideas has a  vision to provide seed funds for budding startups in digital businesses. It is also considered to be the first seed fund cum accelerator program in India.

5ideas would invest anywhere between Rs 50 lakhs to 2.5 crores in a startup and would work closely with them for a year. In the first 6 months the company would work as close operating partners to assist the startup to avoid pitfalls and the next 6 months of business the startup is let to accelerate and the company provides assistance in raising capital.  

Apart from providing financial assistance, 5ideas also helps entrepreneurs to accelerate their business and gain traction with customers. It also provides mentorship assistance to the startups along with valuable industry connections.

The company has mentors like, Mahesh Narayanan and Nikhil Rungta from Google, Shantanu Sirohi from Interactive Avenues, Sanjay Kadaveru from Action for India.a

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