Quintype to back 15 media-tech startups through accelerator SpeakWrite
Quintype Inc, a data-driven publishing startup backed by media entrepreneur turned early stage investor Raghav Bahl, has launched an accelerator programme to invest in digital media startups.
Christened SpeakWrite, the programme will advise, design and help promising digital media ventures launch their online presence, Bangalore- and California-based Quintype said in a press statement.
It will invest 15 startups by next year-end, Amit Rathore, who founded Quintype last year and serves as its CEO, said. In the next two months, the company will back five digital media startups through SpeakWrite.
"Quintype will take a percentage of equity stake in the respective startups. The exact amount depends on several factors: the stage of the startup, the amount of funding raised, the complexity of the initial site/apps, the business plan etc," Rathore added. Quintype had recently raised $3.25 million (Rs 22 crore) from Bahl and other other unnamed investors.
Quintype is a data-driven publishing platform for mobile-first companies. The startup claims to reduce costs and increase revenue/profits for media players by leveraging big data and predictive analytics. Quintype partners with publishers and generates money through a revenue-share model.
In May, HT Media had floated an accelerator to nurture entrepreneurs in the digital media and ad-tech space. It joined hands with US-based investment firm North Base to fund about seven to eight ideas in the first batch.
Rising investor count
The Indian startup ecosystem is being propelled by a 123 per cent rise in the country's active investor count, IT industry body NASSCOM and Zinnov Consulting said in a new report. The number of accelerators/incubators in India grew by 40 per cent to 110 this year as compared to 2014.
On the other hand, the country's angel investor count grew by over 150 per cent to 292 from 115 last year, the study found.
However, industry veterans such as Kris Gopalakrishnan (Infosys co-founder) believe that India needs more angel investors. India is also the world's third-largest startup hub where three-four new firms are born every day.
India currently trails the US (47,000-48,000 startups) and the UK (4,500-5,000 startups) in terms of overall startup count.