Jupiter Networks invests $2.5M in endeavor tech accelerator Alchemist


Jupiter Networks invests $2.5M in endeavor tech accelerator Alchemist

Alchemist, which began as an experiment to better promote endeavor entrepreneurs, has morphed into a nicely-established Silicon Valley accelerator.

To inform it, San Francisco-basically based Alchemist is announcing a recent $2.5 million investment earlier than its 20th demo day on Wednesday. Jupiter Networks, a networking and cybersecurity alternatives industrial, has led the spherical, with participation from Siemens’ mission capital unit Next47.

Launched in 2012 by stale Draper Fisher Jurvetson investor Ravi Belani, Alchemist offers participating groups with six months of mentorship and a $36,000 investment. Alchemist admits firms whose revenue circulation comes from enterprises, not customers, with a zigzag against technical founders.

Per numbers offered by the accelerator, dubbed the “Y Combinator of Endeavor,” 115 Alchemist portfolio firms have gone on to get grasp of $556 million all over loads of VC deals. One other 25 had been acquired, including S4 Capital’s contemporary $150 million acquisition of media consultancy MightyHive, Alchemist’s greatest exit as a lot as now.

Diversified significant alums consist of Rigetti Computing, LaunchDarkly, which helps startups soft-launch aspects and drone startup Matternet.

Alchemist has previously raised mission capital funding, including a $2 million financing in 2017 led by GE and an undisclosed investment from Salesforce.

Nineteen firms will demo merchandise onstage tomorrow. You might presumably per chance presumably live circulation Alchemist’s 20th demo day here.

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