Graviton to help Indian Web3 start-ups receive funding

India-focused accelerator Graviton has announced an initiative to help Indian Web 3.0 start-ups get up to US$50,000 in funding. The firm is working with venture capital (VCs) companies such as Hashkey Capital, NGC Ventures, Ascensive Assets, Moonrock Capital, 369 Capital, and Stacker Ventures.

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Fast facts

• “It’s not easy to raise money, but there are still a lot of VCs that have funds available that are going to be poured into the ecosystem,” Jeffrey Broer, program director of Graviton, told Forkast in an interview on Friday.  
• “But you need a great attraction and a great vision to actually be able to raise money,” Broer said.
• The initiative has so far received about 200 applications, according to Arpit Nik, co-founder and chief executive of Graviton. 
• In August, Indian crypto exchange CoinSwitch introduced a Web3 Discovery Fund with initial capital of US$10 million to back early stage startups.
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