Lumis Partners' SCL starts six-month programme for supply chain startups

Topics Startups

Investment firm Lumis Partners on Thursday said it will run a six-month programme under its Supply Chain Labs (SCL) to handhold and fund startups working in various areas like warehousing and logistics.

The Supply Chain Labs Accelerator 2020 programme is designed to make early-to-growth stage startups scale-ready and will provide them with an initial funding of Rs 25 lakh per startup and up to Rs 3.5 crore to a select few startups, a statement said.

It will also offer deep-engaged mentoring and access to corporate customers to help startups collaborate to solve complex large scale problems of the industry, it added.

"Our aim is to support a generation of new age entrepreneurs, make them more self-reliant (Atmanirbhar), and boost our 'Make in India' initiative for achieving indigenous economic growth," SCL Managing Partner Ashutosh Mayank said.

SCL believes that innovation in the supply chain would be a key path not only to economic recovery in most industries, but shall also be the lifeline for return to normalcy amid COVID, he added.

"Through the program 'Supply Chain Labs Accelerator 2020', SCL will nurture and invest in high-potential startups engaged in disrupting supply chain, warehousing and logistics," he said, adding that the intent is to identify and adopt innovations to optimise supply chain, warehousing and logistics.

In the last edition that concluded in February, SCL had selected nine supply chain startups. The cohort of nine that graduated showed 2X-10X growth, and five of them raised follow-on capital or were merged/acquired by the investors.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel