Funding News

Startup Accelerator ‘Risers Accelerator’ Picks up Stake in Three Promising Startups

Startup accelerator specialist ‘Risers Accelerator’ has funded three start-ups — Cosmeto Food, Zeleno, and Playtoome – with a total investment of approx. Rs 11 Crore. Risers Accelerator is a conglomerate of 35 individuals based out of Delhi and has been aggressively promoting start-ups with good business potential.

Delhi based startup accelerator ‘Risers Accelerator’ invests Rs 11 Crore in three promising startups

Zeleno – a startup dealing in Reverse Vending machines for Plastic Bottles  

Zeleno recently got a contract through Rail India Technical and Economic Services (RITES) for Central Railways of 500 machines. Zeleno was started three years back by an ISB Hyderabad trio towards furthering the Swachh Bharat Abhiyan. Valued at Rs 50 crore, Zeleno has been successfully installing the machines in New Delhi and Lucknow. Piloting with these places, the company has already come up with a blueprint of places across India where the machines will be installed. Risers Accelerator hold 10 per cent equity stake in the company.

“Our focus is to accelerate the companies that have a noble cause attached to it along with the business part. With the latest order by the Indian Railways of 500 vending machines, Zeleno is on the right track and hopefully the target of reaching every metro city by the end of this financial year will be achieved. We believe that the initiative will stand as a main pillar in the success of ‘Swachh Bharat Abhiyan’, a campaign by the Government of India,” says Pravin Khandelwal, Director, Leadership & Motivation, Risers Accelerator.

Talking about the challenges a cause-based startup faces, Prateek Mittal, cofounder, Zeleno, said, “A new idea always faces apprehensions and these doubts increases if a cause is attached to the idea. People start talking about the viability of the project and ROI, etc. We are thankful that we have the support and backing of Risers Accelerator.”

Cosmeto Food – Taste-able organic cosmetic products

Cosmeto Food Organic Pvt Ltd is a startup that provides taste-able authentic Ayurvedic organic handmade skin care products. The startup was started by Mr. Himanshu Chadha and is currently valued around Rs 20 crore.

Cosmeto has been successfully operating pan India and is exporting to about 35 countries. Risers Accelerator has funded Rs 2 crores for product distribution and it holds 10 percent equity in the company.

Due to increasing focus on personal care, the market for natural and organic cosmetics market is thriving. As per the report by Market Research Future (MRFR), the global natural and organic cosmetics market is predicted to touch USD 25,100 million by 2023.

Playtoome – a company that deals with technology-enabled live performance

The third company in which Risers Accelarator has invested in is Playtoome — a company that is into technology-enabled live performance, entertainment and consumer engagement platform. The company is targeting to become USD 50 million business and achieve 5 million unique customers in the next three years. Playtoome will get next round of funding from Risers of Rs 4 crore.

“Playtoome was launched with a singular vision – to transform the live entertainment space by connecting audiences with their favorite artists through technology and enabling more interactive and immersive live entertainment experiences. The investment will give a big boost to that vision,” S Keerthivasan, Founder and CEO of Playtoome said.

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