Chinese accelerator and venture fund ZDream Ventures has recently acquired the 100 percent stake in Xeler8 Inc., a Gurugam-based intelligence platform providing startups database to venture capitals and private equity firms.
The financial details of the transaction were undisclosed. But for ZDream, this is its third acquisition in India, after subscription based e-grocery startup Milkbasket and digital media platform iamwire.
Following this acquisition, the 12-member team of Xeler8 will also be absorbed into Beijing and Gurgaon-based ZDream Ventures.
Founded in 2015 by Rishabh Lawania and Keshu Dubey, Xeler8 offers a database of Indian startups to venture capital and private equity firms, providing them with curated information on their business models, funding, founder details, and more.
The startup tracker covers 47 different industries, helping investors to access their deal procedure while playing the role as a lead generation platform for corporates as well as a market research tool.
“We have plans on launching a tech media platform that will be backed by the Xeler8 database and the data will be open to all, in order to fuel up Indian start-up ecosystem,” said Jason Wang, the Founder and CEO of ZDream Ventures.
Another co-founder of Xeler8, Bishabh Lawania also commented on the acquisition, “This is an exciting time for us. We look forward to working with ZDream Ventures and offering unique and insightful data to the stakeholders of the Indian startup ecosystem.”
ZDream Ventures is a Y Combinator-like fund as well as an accelerator focusing on technology, media, and telecommunications industry.
By Vivian Foo, Unicorn Media
This news is published on Reuters.