Technology and finance company 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.
See related article: The last 12 months the year to forget, says India’s WazirX crypto exchange
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“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?
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