XRC Labs, a New York City-based accelerator and venture fund focused on the retail technology and consumer goods sectors, has opened applications for the 12th cohort of its accelerator program.
The participating start-ups will receive $135,000 in investment with access to XRC Labs’ partners, which include TJX Cos. Inc., Mastercard, CVS Health, The Estée Lauder Cos. and GS1 US. They will also be able to network with over 330 mentors, including retailers and consultancies, and given strategic support in sustainable growth strategies, further fundraising, PR and marketing. The program operates on a rolling basis.
To date, XRC Labs has invested in 70 active companies from pre-seed to Series A in new materials and textiles, supply chain and warehouse technology, in store and e-commerce technology, consumer technology, physical goods and consumer health. Fifty-three percent of portfolio companies have a female founder, and 40 percent have a founder of color.
In late May, select applicants will be notified of XRC Labs’ interest and requested to present at a biannual Selection Committee in June. From there, up to 10 start-ups will be offered the opportunity to join the XRC Labs ecosystem, and each program lasts about four months.
“The pandemic demonstrated how crucial it is for businesses to create supply chain and e-commerce efficiencies. According to the Gartner 2021 CIO Agenda, 51 percent of CIOs foresee an increase in supply chain speed in 2021, so this is a current investment focus for our next cohort,” said Kirsten Horning, XRC Labs principal. “We look forward to adding founders to our ecosystem who propose products solving real problems and creating meaningful innovations.”
XRC Labs launched in 2015 and continues with founding sponsor Parsons School of Design at The New School.
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