Technology House Launches Startup Accelerator in US

(Reuters) – Seraphim House, a unit of the British house funding agency, will again 12 early-stage U.S. startups with greater than $150 million in funding by way of a brand new accelerator program, it stated on Monday.

The 12-week accelerator shall be run by Technology House and can deal with startups working in sectors starting from local weather expertise and protection to communications and mobility.

Startup accelerators help early-stage corporations by way of training, mentoring and funding. Examples of them embody Y Combinator, which helped launch corporations like trip rental firm Airbnb and social media platform Reddit.

Seraphim House’s transfer comes at a time when the business grapples with a funding crunch because of rising fears concerning the financial system. Funding in house startups fell by greater than half final 12 months after a report 2021.

Seraphim house nonetheless sees some constructive indicators. It stated seed offers are up almost 50% in 2022, an indication of investor curiosity in early-stage startups regardless of the financial system’s slowdown.

The enterprise capital agency helped launch satellite tv for pc communications agency AST SpaceMobile Inc, valued at $1.2 billion, and information and analytics firm Spire World, which has a market worth of about $200 million.

Northern Sky Analysis predicted final 12 months that the worldwide house business would attain $1.25 trillion by 2030, representing a compound annual progress fee of 6.25%.

(Reporting by Akash Sriram in Bengaluru; Enhancing by Maju Samuel)