GHV invests $100K each in IStyleYou and AdUrCup
Startup accelerator Green House Ventures (GHV) has invested $100,000 (around Rs 67 lakh) each in personal stylist app IStyleYou and ad network AdUrCup.
Vikram Upadhyaya, chief mentor and accelerator evangelist, GHV, confirmed the development to TechCircle.in.
IStyleYou, run by Uninext Solutions Pvt Ltd, operates a platform where users can get a personal stylist, and also get product recommendations from e-commerce sites. The startup was founded in August last year by Pallav Modi, an alumnus of International Management Institute, who has previously worked with BookAdda and PolicyBazaar, Amit Kejriwal, an MCA from IGNOU, and Vinayak Khanijo, an alumnus of Liverpool University.
AdUrCup, run by Adcount Technologies Pvt Ltd, enables advertising on disposables used by quick service restaurants (QSRs). In doing so, it converts disposables, a cost centre for QSR businesses, which accounts from 5-12 per cent of the bill value, into an asset. The startup was incubated in the first batch of BW Accelerate, an acceleration programme by media organisation Business World, and had received an undisclosed amount of seed funding from Dineout founders Ankit Mehrotra, Sahil Jain, Vivek Kapoor and Nikhil Bakshi.
DealstreetAsia had reported on the funding first.
GHV Accelerator had recently invested a similar amount in travel gear startup RoadGods and music discovery app PindropMusic.
GHV Accelerator was launched by serial entrepreneur and Indian Angel Network member Vikram Upadhyaya. GHV mentors startups that are between the incubation stage and venture capital stage, and also provides them with $100,000 in seed funding.
It has put money in LazyLad, MyTaxiIndia, Foodport, Pick My Laundry and FitMeIn, besides other tech startups. In December 2015, GHV invested in two startups â€“ Applop and CaRPM. GHV's aim is to on-board 25 startups by early 2017.