India, April 29 -- Thyrocare founder Arokiaswamy Velumani has joined hands with Young Entrepreneurs Association (YEA) and Magnifiq Capital Trust to invest up to INR 50 Cr in Indian startups.

As per YEA's statement, the initiative not only involves financial support from Velumani but also includes mentorship for promising startups.

The announcement was made at YEA'S Annual General Meeting held on April 27 in Hyderabad.

Velumani plans to select seed stage startups with considerable growth potential, and target entities with at least INR 5 Cr in turnover.

Velumani rose to prominence after Thyrocare's public listing in 2016. Nearly 26 years after its establishment, PharmEasy's parent company, API Holding Ltd, acquired a 66% stake in Thyro...