The Morpheus, has closed their third round of funding ‘The Morpheus Tritiya”, and this time is bigger and way better in terms of size and LPs. The Morpheus Tritiya should close around Rs 4-5Cr . Morpheus is India’s leading Startup Accelerator, helping over 30 startups at various stages of their adolescence, for the last 3.5 years. As per Nandini, Cofounder of The Morpheus “The Morpheus Tritiya”, which brings an amazing set of LP’s on board & gives us the ability to micro fund 60-70 startups for the next 3-4years.
All of the existing LPs have participated in this round and interestingly there are new LPs like Vijay Shekar Sharma, founder & MD of One97 Communication; Pallav Nadhani – Founder & CEO of fusion charts. These new LPs are successful entrepreneurs and have built their companies from scratch. Besides capital they bring extensive experience on the table in running a startup which is priceless.
Pallav Nadhani says “I decided to invest in Morpheus because I like the way it operates. Hand-holding the aspiring entrepreneurs in what they call the “treacherous phase” is invaluable. Giving them little cash up-front teaches them how to stay lean, bootstrap and get money from the most important source – customers. Being a bootstrapped entrepreneur myself, I find this approach highly effective.”
In terms of engagement and investment nothing changes in the model with closure of new fund. Morpheus will still follow the same accelerator model, select teams once in 6 months via call for applications and provide them with: 4 months of intensive engagement, induction into the exclusive Morpheus Gang (a community of 70+ portfolio founders, investors & partners), 5 L INR funding per startup & life long support. We run 2 Batches each year & can accommodate upto 10 startups per batch.