Mumbai: Yuvraj Singh has said that he, through his firm, plans to invest “aggressively” in technology startups in the coming year. His firm YouWeCan (YWC) Ventures’ latest investment has been in the nutrition startup Wellversed.
“In the next three to six months, we will be actively exploring new investment opportunities with the goal to contribute to the Startup India movement. Our focus areas will be the Health Tech, Sports Tech, Food Tech, and Agri Tech sectors,” he told PTI.
YouWeCan’s latest investment has been in a nutritional product startup funded for an undisclosed amount at an enterprise valuation of Well 100 crore.
“Through my foundation and brand YouWeCan, we are always motivated to make a difference in society and we always want people to be better. We have future plans to invest aggressively in the coming year. Hope. This is going to be the best year for all,” Singh said.
He said that COVID-19 was holding investments due to the pandemic and is well off after which YWC Ventures has invested.
Sharing his experience on investing, Singh said that the YWC venture started in 2013 and aggressively invested in 10–11 startups.
“Only two took off. Something you have to risk. Holosuit in health and augmented reality and virtual reality are also doing very well. I’m very happy now that 2-3 startups in our portfolio have turned into big Gone are the companies now, “Singh said.
The report noted that education technology platforms and online health insurance declined by up to 200 percent, while online fitness and online telecom startups saw a recovery of up to 500 percent.
Automotive, travel and hospitality, mobility, and logistics are one of the worst-hit segments and their funding has dropped significantly.
“Health section has not been hit by COVID. When you look at Healthians, definitely the health segment has been good,” Singh said.
(With PTI Inputs)