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Blume Ventures in India portfolio in India

Udit Agarwal

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Blume Ventures in India portfolio in India

Mumbai-based seed stage venture capital fund Blume Ventures was founded by Karthik Reddy and Sanjay Nath in 2010. It invests across retail, media, Fintech, Edtech, consumer services, analytics, and cleantech startups.

Blume Ventures has been actively investing in seed, angel, and pre-series A stage Indian startups since 2011. The fund has more than 60 blooming startups in its portfolio.

Blume Ventures in India portfolio in India

Here is a comprehensive list of top 10 investments by Blume Ventures in India:

1- Vokal

Vokal

Vokal

Bengaluru-based vernacular knowledge sharing startup Vokal was founded by former TaxiForSure founder Aprameya Radhakrishnan and Mayank Bidawatka in 2017.

2- Dunzo

dunzo

dunzo

Bengaluru-based hyperlocal delivery startup Dunzo was founded by Ankur Aggarwal, Dalvir Suri, Kabeer Biswas and Mukund Jha in 2015. The startup provides an app platform to enable users to create different tasks, track progress of the tasks, including easy payment method. Blume Ventures first invested $650,000 in Dunzo’s seed funding round, along with Aspada, and Rajan Anandan, VP and Managing Director, Google India in March 2016.

3- Servify

servify

servify

Mumbai-based personal device assistant provider Servify was founded by Pravin Jadhav and Sreevathsa Prabhakar in 2015. It further offers an app that enables consumers to store their bills and warranty on the cloud, also connecting the consumers with brand authorized service centers. Blume Ventures has backed Servify, since April 2016, helping it raise seed funding and supporting its growth.

4- Unacademy

unacedamy

unacedamy

Bengaluru-based edtech startup Unacademy was founded by Gaurav Munjal, ex-founder and CEO of Flatchat, along with Roman Saini, Hemesh Singh, and Sachin Gupta.  The edtech startup provides various study materials, including video lectures from experienced educators to help students prepare for various competitive exams. It has over 50,000 online lessons along with 1.3 million registered users taught by around 4,000 educators.

5- HealthifyMe

healthifyme

healthifyme

Bengaluru-based health tech startup HealthifyMe was founded by Sachin Shenoy and Tushar Vashisht in 2012. It provides an online health and fitness community, enabling users to seek advice regarding diets, weight loss, weight gain, and muscle gains. It further leverages artificial intelligence to offer an AI-enabled fitness coach to help users in their fitness journey. Healthify first raised $6 million in series A round from Blume Ventures, along with IDG Ventures India, and Inventus Capital Partners in May 2016.

6- WebEngage

webengage

webengage

Mumbai-based marketing automation startup WebEngage was founded by Ankit Utreja and Avlesh Singh in 2011. It provides cloud-based marketing automation solutions enhancing user engagement across multiple channels, in order to boost sales and grow consumer base for its clients. In January 2016, Blume Ventures first invested $1.3 million in WebEngage, along with GTI Capital Group.

Read More: Top Helion Venture Partners Portfolio funding Companies

7- Little Black Book

the little black book

the little black book

New Delhi-based search and discovery platform Little Black Book was founded by Dhruv Mathur and Suchita Salwan in 2012. It provides a platform for users to discover a wide range of events, places, restaurants, experiences, stores, and home decor, among many others. The startup has expanded its operations to eight cities across India, including Delhi, Bengaluru, Mumbai, and Goa. Little Black Book first raised ₹6.5 crores in a funding round led by Blume Ventures, along with participation from IDG Ventures and Indian Angel Network in October 2017.

8- SlicePay

slicepay

slicepay

Bengaluru-based fintech startup SlicePay was founded by Deepak Malhotra and Rajan Bajaj in 2015. It provides a digital platform to offer instant credit to millennial to help them fulfill their needs on a tight budget. The startup offers loans up to ₹60,000 to students, across 500 colleges through its partner NBFC’s.

9- BHIVE Workspace

BHIVE-Square-Logo

BHIVE-Square-Logo

Bengaluru-based coworking space provider BHIVE Workspace was founded by Shesh Paplikar in 2014. The startup provides an ecosystem for startups and entrepreneurs to enable them to grow and take their ideas to the next level. It offers state of the art facilities to provide a creative and productive environment for entrepreneurs. Blume Ventures has been an early investor in the startup, investing $1 million in seed funding in May 2016.

10- Instamojo

instamojo

instamojo

Bengaluru-based on-demand payments platform Instamojo was founded by Sampad Swain, Akash Gehani and Aditya Sengupta in 2012. It provides a multi-channel payment gateway to enable SMEs to manage and grow their business. Instamojo first raised $500,000 in seed funding from Blume Ventures in May 2013.

Apart from the above-mentioned startups, Blume Ventures has invested in many more Indian startups, enabling them to grow by providing them access to funds and expertise in various sectors.

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IIM-A incubator, OmniActive’s Mariwala invest in agri-tech startup Sattvaponics

Udit Agarwal

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Mumbai-based agritech startup Sattvaponics has raised an undisclosed amount of funding from Indian Institute of Management, Ahmedabad’s (IIMAs) Centre Centre for Innovation Incubation and Entrepreneurship (CIIE) and Sanjay Mariwala, Founder and Managing Director of OmniActive Health Technologies.

This investment marks the ninth investment by CIIE in the agritech sector, in line with its objective of supporting breakthrough innovations that tackle India’s most pressing problems.

Sattvaponics was founded by Kevin Parekh and Ashish Korde in 2017. It aims to change the nutraceutical industry by producing clean and high potency raw materials. Both the co-founders are nutraceutical professional, with Kevin completing Masters in Medical BioTechnology, while Korde has an MBA from Indian School of Business (ISB).

The high level of contamination of natural products due to pesticides, heavy metals, microbial, low bioactive content, and inconsistency in output due to heavy reliance on weather, soil and traditional means of production, threatening the medicinal food industry.

Although the major part of the natural product value chain consisting of ingredient manufacturers, formulators as well as consumer brands are organized and regulated, Sattvaponics is looking to address the agricultural practices, which remain largely unorganised.

The agritech startup is trying to completely optimise the agricultural life cycle from sowing to harvest, in order the revolutionalise the supply chain, to provide organic, nutritious, and healthy products.

Sattvaponics has one developed product that is already in commercial use and it is currently working on two new products, for which it already has consumer tie-ups, with more products in the pipeline.

Talking about the future plans, Kevin Parekh, Co-Founder of Sattvaponics, said, “We aim to cross 300-400 acres of cultivation in next three years, producing multiple high-value crops round the year, which will benefit the consumers, industry as well as the farmers.”

Other agritech startups strengthening the Indian agricultural ecosystem include Gramco Infratech, Gobasco, Our Food, Agrostar, Kisan Hub, Intello Labs, and Aibono, among many others. Earlier this month, Agritech startup Origo Commodities raised ₹80 crores from Triodos Investment Management, others.

Must Read: Top 9 Kalaari Capital Investments Portfolio in India

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Advent acquires entire 40% stake held by Kedaara Capital in Manjushree Technopack

Udit Agarwal

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US-based private equity firm Advent International has acquired Bengaluru-based rigid plastics packaging solutions provider Manjushree Technopak.

The acquisition marks the exit of Mumbai-based PE firm Kedara Capital, selling its entire 40% stake to Advent for an undisclosed amount. As a part of the deal, Advent has also acquired a portion of the promoter Kedia family’s holdings to gain a majority stake in Manjushree Technopak.

Post acquisition, Vimal Kedia, Founder and Managing Director of Manjushree, along with other senior management members will remain with the company.

According to reports, the deal is expected to value the Bengaluru-based company at around ₹2,440 crores. Founded by Vimal Kedia in 1983, Manjushree Technopak provides rigid plastic solutions to a wide range of FMCG industry verticals including dairy, food products, agrochemicals, pharmaceutical, home care and personal care.

With presence across India and 15 other countries, serves large FMCG multinationals, generating more than ₹890 crores in revenues. Some of its notable clients include Coca-Cola, PepsiCo, P&G, Nestle, and Himalaya, among many others.

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Talking about the investment, Shweta Jalan, Managing Director and Head, India, Advent International, said, “The rigid plastic packaging market is expected to expand by 15% per year over the next five years, which is driven by much more growth in consumer-end markets, the continued shift from glass and paper to plastic packaging, and the introduction of new products. Manjushree Technopack is the market leader in an industry with strong growth tailwinds.”

Earlier in November 2016, Manjushree acquired Delhi-based packaging firm Varahi Ltd for an undisclosed amount. The deal has been made, which will enable the firm to increase the production capacity and customer base, and strengthen its foothold in North India.

The latest deal marks Advent International’s seventh investment in India. Other Advent investments in India include Innerwear brand Dixcy Textiles, ASK Group, a wealth and investment management business, QuEST, a global engineering solutions provider, Crompton Greaves, and CARE Hospitals.

Must Read: SoftBank may invest $200 Mn in Nykaa at over $700 Mn valuation

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BookMyBai.com raises pre-series A Round from Japan-based fund

Udit Agarwal

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BookMyBai.com raises pre-series A Round from Japan-based fund

Mumbai-based online domestic help provider BookMyBai has raised an undisclosed amount of funds in pre-series A round from Japan-based social venture fund ARUN Seed. Other Japanese angel investors also participated in the funding round.

The funds raised will be used to expand market share in the cities it already has a presence, along with launching operations across Hyderabad and Delhi.

BookMyBai was founded by Anupam Sinhal and Vickash Chowdhury in 2015. It provides an online platform to enable homeowners to hire domestic help in a seamless manner. The platform offers domestic helpers across various categories including maid, babysitter, nanny, senior citizen care, and cook.

The platform does an extensive background check of helpers with identity check, document verification, in-person interview, along with training sessions, to provide a trustworthy domestic help to its users.

The marketplace offers more than 50,000 experienced domestic helpers across Mumbai, Pune, Bengaluru, Ahmedabad, Surat, and Kolkata.

“They as of now is working on thousands of marginalized women who are now earning enough money to support families. We see this as an opportunity to be able to support a startup which is not only sustainable but also has a large social impact amongst the rural households” said Satoko Kono, President, ARUN LLC.

The platform is also planning to launch a multi-lingual app for the workers through which the workers can look for a job in real-time, further enabling the workers and helping them find a suitable job based on their needs.

Earlier in 2015, BookMyBai raised ₹1 crore from Hyderabad-based investment platform 50K Ventures. Other players in the domestic help provider domain in India include Helper4U, MyDidi, GDH Workforce, and MyChores, among others.

Indian domestic help industry is highly unorganized and the foray of startups in the segment will not only ensure a platform for domestic helpers to find job readily but also provide easy access to domestic help for homeowners.

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