Arka Venture Labs and the One Million by One Million (1Mby1M) global virtual accelerator announce a partnership to benefit Indian B-to-B cloud startups by together offering access to deeper connections into Silicon Valley and comprehensive startup mentoring.
Arka Venture Labs brings together three venture firms who provide the initial capital and open their networks to the benefit of their portfolio companies: Blume Ventures, BGV (Benhamou Global Ventures), and Emergent Ventures.
The One Million by One Million (1Mby1M) global virtual accelerator, founded by Silicon Valley entrepreneur and strategist Sramana Mitra, aims to nurture a million entrepreneurs to reach a million dollars each in annual revenue and beyond, by means of a proven, case-study based curriculum, weekly mentoring sessions, and introductions to appropriate investors, customers, and channel partners.
“Some Indian cloud startups have been able to breakout into the global market through a deep connection to Silicon Valley,” shares Sanjay Nath, Managing Partner at Blume Ventures. “We hope this partnership will help more startups to do the same.”
“We are looking forward to working with 1Mby1M to help our startups make the best strategic decisions every step of the way,” says Eric Benhamou,
Managing Partner at BGV. “To give our entrepreneurs access to an online curriculum at their convenience and online mentoring every week is a real asset, offering flexible mentoring and support that works with their often unpredictable schedules.”
Yashwanth Hemaraj, Co-founder & Partner at Arka Venture Labs, appreciates the focus the 1Mby1M program places on bootstrapping and capital-efficient entrepreneurship. “Our startups are getting up to $200k in funding and we want them to know how to apply capital-efficient bootstrapping to their businesses in order to get the most done with that capital.”
“The emphasis the 1Mby1M program puts on lean, capital-efficient startups perfectly compliments our own mentoring experience,” echoes Radhesh Kanumury, CEO & Managing Partner at Arka Venture Labs
“We’ve been working with Indian startups since 2010,” adds Sramana Mitra, Founder of 1Mby1M. “We have a deep understanding of the issues these companies face and look forward to sharing our experience, network, and strategic insights with Arka Venture Labs’ companies.”
The first company that Arka Ventures Labs is introducing to the program is Primaseller, a software that enables multi-channel retailers to manage their brick & mortar in-store sales along with all their online channels like their web stores or marketplaces like Amazon in a seamless manner. “Looking forward to working with 1Mby1M on our global go-to-market strategy,” says Founder and CEO Mohammed Ali.