Startup accelerator Risers Accelerator has invested undisclosed amount in in Sprout Kids, a company that specializes in designing and manufacturing children furniture. Following the funding round, Risers Accelerator has picked up 20% stake in the company at a market valuation of Rs 2.5 crore.
Sprout Kids, which was started barely a month ago, currently sells its products through online and claims to have already 2500 subscribers.
Founded by Clark Davis, the company manufactures all its products at Utah in United States. However, the company sources raw Baltic birch material from Baltic Region of Europe.
“The investment in this company is a reflection of our policy to provide support to all sectors. We want to accelerate start-ups that have good business potential. The underlying philosophy is to give a helping hand to people who have bright ideas and can transform the business industry. If these start-ups are promoted they will generate employment that will help the economy grow,” says Pravin Khandelwal, Risers Accelarator.
Last month, Risers Accelarator had invested in three startups – Zeleno, Cosmeto Food and Playtoome.