India-focused accelerator Graviton has announced an initiative to help Indian Web 3.0 start-ups get up to US$50,000 in funding. The firm is working with venture capital (VCs) companies such as Hashkey Capital, NGC Ventures, Ascensive Assets, Moonrock Capital, 369 Capital, and Stacker Ventures.
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Fast facts
“It’s not easy to raise money, but there are still a lot of VCs that have funds available that are going to be poured into the ecosystem,” Jeffrey Broer, program director of Graviton, told Forkast in an interview on Friday. “But you need a great attraction and a great vision to actually be able to raise money,” Broer said.The initiative has so far received about 200 applications, according to Arpit Nik, co-founder and chief executive of Graviton. In August, Indian crypto exchange CoinSwitch introduced a Web3 Discovery Fund with initial capital of US$10 million to back early stage startups.See related article: India’s religious festivals coming to a metaverse near your avatar?
