TLabs expands its accelerator to Bangalore, will offer $50k to each startup
TLabs the leading startup accelerator in India, is evolving its business model to become the go-to place for high-quality teams and startups at early stage. TLabs will be offering a larger amount of initial capital and establishing a presence in Bangalore.
Over the last 3 years, TLabs has had 6 batches and 36 total startups which have shown great success. More than 60% of startups that have graduated raised on average $450k in follow on funding. TLabs also boasts of a strong community of more than 300 founders and employees.
The recent expansion reflects TLabs desire to be at the forefront of the startup hub in India. Starting in January, TLabs will offer its accelerator program out of Delhi / NCR and Bangalore.
In addition to expansion, TLabs has also increased the amount of capital it will invest in each startup to $50000 to provide a longer validation and growth runway amid rising operational costs during early stages of a startup. On the occasion, Abhishek Gupta, head of TLabs, said, "TLabs has always been a startup, learning and evolving its business model. We are entrepreneur friendly, and we want to work with world class teams to build the next big business together. With the expansion and funding increase, we can work with more evolved startups, and we can offer them more help to reach their goals."
This also means that competition for the startups to enter into the coveted program will also increase as the valuation offered to each startup will range from 3.5cr – 4cr. It will also allow startups to syndicate the first round with TLabs being a lead investor in the funding process.
CEO of Times Internet Satyan Gajwani said "We started TLabs to help foster a stronger entrepreneurship ecosystem. In the last 3 years, we've helped 36 new companies get formed and chase their dream. As we look forward, we want to play a larger part in creating "Digital India", and we want to enable more entrepreneurs to drive our digital revolution."
This is great news for all startups out there as they can now not only get better terms at early stage but also give themselves a much better chance of growing faster.