About Me

 

Utilizing this digital window to share my understanding of the funder and founder relationships and….
several other things that intrigue me!

My Funding Picks For Last Week (W39)

Every Monday, I sit with my team to review the funding activity of the previous week. From that list, I pick out three companies that I would have loved to invest in or find founders doing similar things. Click here to know about my rationale behind this weekly exercise.

Tomorrow marks 6 months from the time India went into lockdown. The startup ecosystem maintains the 3 deals/day average, with 18 startups raising $377 million last week. Looking at the significant tailwinds that the Indian digital economy is generating, I expect the ecosystem to be 5 deals/day average in the next 3 months.

This week, 13 deals were in the early-stage rounds (compared to 12 last week), which made the cut for my weekly analysis. After sifting through the news (aggregated from Tracxn, Inc42, and YourStory), I pick these three as my favorite funding news from last week!

Name: EkAnek

Amount Raised: $5.4 million led by Alpha Wave Incubation, and participation from existing investors Matrix Partners India, Sequoia Capital India, and Lightspeed India.

What does EkAnek do?

Edited from Tracxn: EkAnek is an influencer marketing platform through which users can search and connect with influencers to promote their products & services. It also enables influencers to work with brands and increase their fan base.

 Why do I like EkAnek?

Influencer marketing will be especially prevalent in the digital economy as things keep going the way they have. More and more people are getting habituated to online shopping. Still, the influencer space is a fragmented market, which is why EkAnek will make it easier for brands to find influencers and grow their online presence. The founders’ solid background ensured that they received funding from a great list of investors.

I believe they’re going to be the venture to beat in this category.

Name: Zimyo

Amount Raised: $1.5 million led by BEENEXT, other investors like AngelList, YAN (Yatra Angel Network), and angels.

What does Zimyo do?

Edited from Tracxn: Zimyo offers HRMS solutions for SMEs. Users can manage payroll, leave, tasks, employee rostering, shifts, and more.

Why do I like Zimyo?

A lot of us are trying to use multiple platforms from around the world to manage employees and paying subscription costs to companies that are domiciled abroad. What I like about Zimyo is that they have a complete HRMS Suite with everything from recruitment to separation under one platform (including performance management).

I’m hoping they would add an employee tracking feature that apps like Timely provide. I would rather pay someone in India for these features under one platform than companies overseas.

Name: SignalX

Amount Raised: $750,000 led by 3Lines Venture Capital, a US-based early-stage VC.

What does SignalX do?

Edited from Tracxn: SignalX arms financial and legal analysts with automation and research capabilities, which helps them analyze targets much faster, saving a lot of time. SignalX operates in the diligence market and is used for due diligence, valuations, and compliance teams to analyze counterparties.

Why do I like SignalX?

SignalX is every VC’s dream, with an automated collection of data on startups in our portfolio and our deal flow. In the uncertain business world, I also see them as a valuable service for SMEs, making it easier to check on the health of companies where it is a supplier or vendor.

It would be exciting to see whether the SignalX team brings down the cost to cater to a larger SME audience.

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