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Top 10 Portfolio Investments By India Quotient in India

Udit Agarwal

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Top 10 Portfolio Investments By India Quotient in India

Mumbai-based early-stage venture capital firm India Quotient was founded by two IIMgraduates Anand Lunia and Madhukar Sinha in 2012. The firm invests in Indian startups working at the intersection of smartphones, big data, and design in changing the lives of the Indian consumers.

India Quotient has invested in over 40 Indian startups across fintech, e-commerce, social network, SaaS, and B2B domains. It enables Indian startups through its funding, experience, and a vast network.

Top 10 Portfolio Investments By India Quotient in India

Here is a list of top 10 investments by India Quotient in India:

1- Lendingkart

lendingkart

lendingkart

Ahmedabad-based fintech startup Lendingkart was founded by Harshvardhan Lunia and Mukul Sachan in 2014. India Quotient first invested $32 million in Lendingkart’s series B round, along with Bertelsmann India Investments, Darrin Capital Management, Saama Capital, and Mayfield Fund, in June 2016.

2- LoanTap

loantap

loantap

Pune-based digital lending startup LoanTap was founded by Satyam Kumar and Vikas Kumar in 2016. It provides a technology platform to offer various flexible loan products to salaried professionals through its NBFC and banking partners.

LoanTap first secured $4 million in a funding round from India Quotient, along with Kae Capital and Northern Arc in June 2017.

3- Upwards

upward fintech

upward Fintech

Mumbai-based microlending startup Upwards Fintech was founded by IIT Delhi graduates Abhishek Soni and Nimesh Verma in 2017. It provides a platform to offer quick and hassle-free loans up to ₹50,000 to salaried employees.

Last month, Upwards Fintech raised $5 million in series A round from India Quotient, along with Shunwei Capital and Mayfield Fund.

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4- PrettySecrets

pretty secrets

pretty secrets

Mumbai-based online lingerie brand PrettySecrets was founded by Karan Behal in 2012. It offers a wide range of lingerie, nightwear, shapers, and swimwear on its platform. It also sells its products through other online marketplaces like Amazon, Myntra, Flipkart, Jabong, Nykaa, and Limeroad, along with offline stores.

PrettySecrets was first discovered by India Quotient in September 2014, when it invested $2 million along with Orios Venture Partners.

5- Holachef

holachef

holachef

Mumbai-based food tech startup Holachef was founded by Saurabh Saxena and Anil Gelra in 2014. It delivers ready-to-eat food prepared by its chefs, offering a wide variety of cuisines. The startup is only operational in Mumbai and allows users to order through its online platform, as well as the mobile app.

India Quotient has backed the food delivery startup from its early days, investing $320,000 in seed funding in February 2015.

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6- Clip App

clip

clip

Bengaluru-based vernacular video sharing startup Clip App was founded by Nav Agrawal, Ashish Gupta, and Swapnil Upadhyay in March 2017. It provides a platform to enable users to create, edit, and watch funny videos in their preferred local language. It also allows users to share the videos on platforms like WhatsApp and Facebook.

In July 2017, Clip App raised $1 million in seed funding from India Quotient, along with Shunwei Capital.

7- Care24

care24

care24

Mumbai-based healthcare startup Care24 was founded by IIT alumni Vipin Pathak, Abhishek Tiwari, and Garima Tripathi in December 2014. The startup offers healthcare services like cancer care, elderly care, physiotherapy, and palliative care from trained caregivers to help patients recuperate at home. It is currently operational in Mumbai and Delhi NCR.

India Quotient has been a part of this healthcare startup’s journey since it invested $350,000 in seed funding, along with SAIF Partners in October 2015.

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8- Roposo

roposo

roposo

Gurugram-based social media startup Roposo was founded by three IIT Delhi alumni, Mayank Bhangadia, Avinash Saxena and Kaushal Shubhank in 2012. It provides a platform for Indian users to express themselves visually through videos and photos using their own local language. It also provides a business platform, enabling people to sell their products, reaching over 7 million users.

In July 2014, Roposo first raised $1 million from Indian Quotient and Binny Bansal, co-founder and Group CEO of Flipkart.

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9- ShareChat

sharechat

sharechat

Bengaluru-based vernacular social networking startup ShareChat was founded by three IIT Kanpur alumni, Farid Ahsan, Bhanu Singh and Ankush Sachdeva in 2015. It provides a social networking platform for users to share videos, songs, photos, and other content, along with discovering trending content in their local language.

ShareChat is one of the most successful investments by India Quotient. The startup first raised an undisclosed amount of funds from the venture capital firm in March 2015.

10- Oakter

oakter

oakter

Noida-based home automation startup Oakter was founded by three IIT alumni Shishir K Gupta, Nithin K David and Varun Gupta. The startup designs and manufactures a wide range of home automation products like smart switches, smart locks, smart plugs, and smart remotes, to provide smart home solutions.

In March 2016, Oakter first raised ₹25 lakh in seed funding from India Quotient.

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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.

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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.

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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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