FundTonic launches platform to connect startups to investors

FundTonic, a fin-tech company, launched its online platform for the startup ecosystem. They aim to reach 2000 investors and 5000 startups by next year, the company said in a statement. FundTonic uses sophisticated proprietary technology that evaluates potential startups and showcases the relevant startups to the keen investors. This process enables investors to have easy access to pertinent startups and at the same time, startups get to know their scalability, says the statement. Akshit Gupta, Co-Founder, FundTonic said, “Year 2016 did not begin well for startups. As many of them either shut shops or merged with large corporates. The closure cycle of investments became long. However, I consider this as a positive sign that investors are no longer content with just the overall projection and valuation of a business; they want in depth analysis of the startup, wherein they decide to invest money. Considering this current situation, we decided to launch our platform.” “We endeavour to deepen the startup ecosystem in Tier 1 cities and build infrastructure in Tier 2 and Tier 3 cities by making partnerships to achieve the larger objective of identifying and scaling disruptive ideas across the country.”, he added. Nalin Kumar, chief investment officer, SAIML (SREI alternative investment managers limited) said, “Two decades ago, getting the capital for budding enterprises was challenging. Now the situation is changing. Many startups are spawning, as more and more importance is being given to innovation and both entrepreneurs and investors are willing to take risks. However, investors and startups should keep in mind that failure of some kind is bound to come; knowing how you deal with it is important. Minimising losses for the ecosystem by increasing successes and reducing probability of failure is a big step and FundTonic is well positioned to achieve this.” FundTonic’s app will be available on Android and iOS platforms.