Lumis Partners starts Supply Chain Labs Accelerator programme for supply chain startups
Investment firm Lumis Partners has decided said to run a six-month programme under its Supply Chain Labs (SCL) in a bid to handhold and fund startups working in various areas like warehousing and logistics.
It is said that the Supply Chain Labs Accelerator 2020 programme is designed to make early-to-growth stage startups scale-ready and will provide them with an initial funding of Rs 25 lakh per startup and up to Rs 3.5 crore to a select few startups. It is also likely to offer deep-engaged mentoring and access to corporate customers to help startups collaborate to solve complex large scale problems of the industry.
"Our aim is to support a generation of new age entrepreneurs, make them more self-reliant (Atmanirbhar), and boost our 'Make in India' initiative for achieving indigenous economic growth," mentions Ashutosh Mayank, SCL Managing Partner.
SCL believes that innovation in the supply chain would be a key path not only to economic recovery in most industries, but shall also be the lifeline for return to normalcy amid COVID.
"Through the program 'Supply Chain Labs Accelerator 2020', SCL will nurture and invest in high-potential startups engaged in disrupting supply chain, warehousing and logistics," he says, adding that the intent is to identify and adopt innovations to optimise supply chain, warehousing and logistics.
In the last edition that concluded in February, SCL had selected nine supply chain startups. The cohort of nine that graduated showed 2X-10X growth, and five of them raised follow-on capital or were merged/acquired by the investors.