Indico has a new fund of up to 12 million to invest in startups with Google

Indico has a new fund of up to 12 million to invest in startups with Google

APiS, InnovationCast, Modatta, Onalytics, Playbox and Skoach are the first six companies selected for the Indico Accelerator Powered by Google for Startups, which ends and will be reinforced with a new investment fund.

The new fund of up to 12 million euros, which will invest in the startups participating in the program with Google for Startups, adds to the fund launched in January 2019, of 54 million euros, 22 million of which invested by Indico.

The number of applications revealed that there was a lack of capital dedicated to this initial stage of development of startups and we have six companies with a lot of potential because they represent areas in fast growth worldwide, says Stephan Morais, Managing General Partner of Indico, in a note sent to the media .

In the same communiqué, it is explained that the companies started, in the last few weeks, a work of preparation with Indico for the joint acceleration program with Google for Startups, which will extend over the next six months, with the incubation in the Indico's office will last for one year, until June 2021.

Following the start of work, the companies will receive 100 thousand euros of investment from the new fund.

tek site Indico Capital

In addition to workshops and business development activities and joint teams, the program is adapted according to the needs of each specific company, namely market expansion, ambition and business opportunity, as well as scalable product and technology execution.

The six companies were chosen from more than 130 applications, three of which were led or founded by female entrepreneurs.