Technology and finance company Graviton has announced an initiative to help Indian Web 3.0 startups obtain up to US$50,000 in funding. The firm is working with venture capital (VC) firms 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 plenty of venture capitalists who have funds available that will be invested in the ecosystem,” said Jeffrey Broer, Graviton’s program director. Forkast in an interview on Friday.

• “But it takes a big draw and a big vision to be able to raise money,” Broer said.

• The initiative has received about 200 applications so far, according to Arpit Nik, co-founder and CEO of Graviton.

• In August, Indian crypto exchange CoinSwitch launched a Web3 Discovery Fund with seed capital of US$10 million to support early-stage startups.

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