IIM Ahmedabad’s CIIE.Co Makes Exit From Four Startups


IIMA-CIIE, an incubator and seed investor exits from four startups, namely Guvi, Barrix, Transerve and Riskcovry. These startups were discovered and nurtured through IIMA-CIIE’s flagship accelerators, including The Power of Ideas, Financial Inclusion Lab and India Innovation Growth Program.

“We are thrilled to announce these successful exits during a time when the market conditions have been particularly tough,” said Vipul Patel, Partner – Seed Investments at IIMA-CIIE. “This achievement is a testament to the resilience and determination of our team, as well as the strength of our proprietary scouting and investment strategy.”

IIMA-CIIE also sold its stake in Riskcovry, a full stack insurance distribution platform, to India’s leading wealth management company. India’s original IT garage startup, HCL acquired a majority stake in edtech platform GUVI, a tech skills learning platform in vernacular languages. Both transactions yielded a 6x return each to IIMA-CIIE.

“Indian startup entrepreneurs continue to build value for the larger domestic and global ecosystems at play, while proving the profitability of early stage investing.” Vipul adds, “We continue to strive to attract passionate entrepreneurs solving large market problems and invest as the first institutional partner in their journey.”

IIMA-CIIE recently announced its partnership with SIDBI to launch a pre-seed fund, committed to invest upto USD 100k each across 30 deep tech opportunities in India, in the next 24 months.

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