Promoters of Amar Ujala and Shanti group come together to launch Sigurd Ventures
New Delhi (India), October 11: Sigurd is helping startups to get a Product – Market – Pricing fit and then leveraging the network to lower the cost of customer acquisition. Sigurd will help startups become sustainable, long term businesses.
Why are so many Startups failing in India? Only a handful are making it beyond the first 18 months. Harshit Agarwal, Director Shanti Group and Tanmay Maheshwari, Managing Director, Amar Ujala Publications discussed and set out to address why startups were struggling even after getting significant funds from VCs and active angel investor networks.
Sigurd meaning “Victory”, was created as a result of these discussions. Sigurd nurtures new ideas for startups to grow into sustainable, real businesses. Being backed by two PAN India operating organisations with diversified network and business, Sigurd has a unique position for providing support to entrepreneurs to scale their business by using its network, portfolio companies, and capital. Moreover, Sigurd is helping Startups to do their “Proof of Concept” (POC) in live environments for both B2B and B2C Startups. The vast network of Shanti Group and Amar Ujala is the base that gives startups their first set of clients.
The fund debuts with a capital commitment of US$ 10 mn in phase 1.
But Sigurd goes beyond capital to leverage the networks of Amar Ujala and Shanti Group for businesses to scale, grow and create sustainable businesses which will go beyond 50 years or more. Sigurd is focused on working with start-ups that are solving real-life problems and have a global playfield.
As businesses, Amar Ujala and Shanti Group have many touch points and opportunities with potential customers which help startups to achieve their goals. Feedback from the markets, Inputs from established enterprises during Proof of Concepts or POCs in a variety of industry segments, connects with the relevant people or organisations which have complementary businesses, and influencers with a massive reach – Sigurd is focused on helping startups in several key areas where they face challenges today in addition to funding.
Grow Simplee, one of Sigurds portfolio companies, is such an example. Not only did Sigurd help Grow Simplee get their first set of clients, but with the support of Sigurd’s vast network, Grow Simplee set up a pilot project in Allahabad to help them do POCs for tier 2 and 3 cities. Another example is rural tech company FAARMS. Sigurd is helping them to engage and connect with potential target audience in agri belts of North India.
Sigurd is a collaborative, long-term partner for growth, helping Startups in the areas of their biggest challenges – Improving Product-Market-Pricing fit, Reducing high customer acquisition cost, Market insights from the hinterland of the country, and more.
Sigurd aims to nurture organisations with sustainable business models that will continue to impact society for over 40-50 years and more. Sigurd is a sector agnostic Founder focused fund with a deep interest in Web3, Media, AI and Blockchain.
Founders Tanmay Maheshwari and Harshit Agrawal bring with them a diversified experience including that in the startup ecosystem with personal investments in trailblazing startups such as Bharat Pe, Shiprocket, Clear Dekho, PeeSafe, etc. Shanti Group and Amar Ujala has been a part of growth journey of many unicorns, and trusted brands such as Amazon, BYJU’s, unacademy, Big Basket and has helped them open new markets and acquire new customers.
Sigurd – has already backed 10 top-class teams with disruptive solutions. Apart from India, Sigurd has also backed some great hustlers in UK and Africa markets.
On the occasion of the launch, Harshit Agarwal, Founding Partner, said, “We are passionate about helping Startups succeed. We are founder focused, if we believe that a founder has zeal and perseverance, we back them. We help startups set up real businesses where they are able to find the right product-market-pricing fit. We further help them resonate in the markets and get their first few customers. We do everything we can to help take these powerful ideas to their ultimate goal – making a difference in society and winning as founders and new businesses”.
Tanmay Maheshwari, Founding Partner, added, “Amar Ujala gave us an opportunity to work on the growth and marketing journey for some of the most disrupting companies in the startup world. We realized the key difference between success and failure was early traction and sustainable business models. Considering our strengths, reach, and insights on the consumer market, we felt that we can help budding entrepreneurs reach the market quickly, pivot quickly, and re-ship quickly. Thus saving a lot of time, effort, and capital. “
Sigurd: Sigurd Ventures (https://sigurdventures.com/) is a early stage fund backing startups having scalable solutions for real-life problems. It is promoted by Amar Ujala Publications and Shanti Group. Phase one commitment for fund is US $10mn.
Sigurd is Founder Focused and is enabling businesses to scale up through capital, domain knowledge, network, and high visibility influencers. With a team of Strong promoters, Partners, and advisors, Sigurd is focused on identifying and nurturing startups that are solving real-life problems and have a global playfield. Sigurd is leveraging the wide network of mentors and influencers from these two family offices to help startups scale up their businesses and accelerate growth.
Some of the investmnets done by Sigurd and by the partners so far are: FAARMS, Bharat Pay, ConsCent, Grow Simplee, Karkinos, Bolt, Bliv.club, Spheron, Food Strong, Pee Safe, Chingaari, Clear Dekho, Getvantage, Lido Learning, Fyre, Remedico, Coverself etc.
Shanti Group: www.shantigroup.co Founded in 1990, Shanti Group is a conglomerate with several businesses across various verticals. The group has created world-class businesses in Power, Oil and Gas, Mining, Pipes, Logistic park and Youth skill development. The G.D. Warehouse and Logistics Park is renowned and the largest warehouse service provider in Chhattisgarh complementing the largest cold storage service in central India. Shanti Group has contributed to the development of residential infrastructure in Raipur with three projects – Shanti Residency, Anand Bhoomi, and RK Mall. The group has established a diagnostic center, Stone Clinic, a hospital, a G.D. Goenka School, and the region’s top nursing institute, Adarsh Nursing Institute.
Amar Ujala Publications: www.amarujala.com Founded just after independence in 1948, started as a 4-page newspaper with a circulation of 2576 copies with an objective of promoting social awakening and introducing a feeling of responsibility among the citizens of a recently independent India. Now, Amar Ujala is india’s 4th largest daily newspaper with a staggering circulation of over 2 mn copies and a readership of over 4 Million in India. Amarujala.com is india’s leading website with monthly reach of over 5 mn. Amar Ujala group has also diversified in the fields of healthcare with 18 hospitals in North India under the brand name “Ujala Cygnus”. The group also has commercial printing and packaging vertical: “Impressions”.
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