My Funding Picks For The Last Week (W27)

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 that are doing similar things. Click here to know about my rationale behind this weekly exercise.

 

As we enter the final days of unlocking v1.0, VCs are starting to loosen their tightly guarded pockets. As an ecosystem, we are continually maintaining the 2 deals a day average, but this time 14 startups raised $65 million – double the amount of moolah raised last week!

Out of the 14 deals, 11 were in the early-stage rounds (compared to 11 last week), which made the cut for my weekly analysis. After sifting through the news (aggregated from Tracxn, Inc42, and YourStory), I pick these two as my favorite funding news from last week!

 

Name: Bombay Play

Amount Raised: $1.5m from Leo Capital and Ramakant Sharma

What does Bombay Play do?

Edited from Traxcn: Bombay Play is a game development company specializing in casino games. Some of the games developed by the company are Card Party, Pokemon Tower Battle, and Twenty Nine. Bombay Play develops games for Android and iOS platforms and generates revenue through advertisements and in-app purchases.

Why do I like Bombay Play?

The COVID lockdown provided the gaming sector with the right ingredients for massive user growth. Low-cost internet access at a reasonable speed and people stuck at home with little to no avenue for social interactions. Therefore simple games that do can work on inexpensive devices with minimal processing speeds can rule the roost. It isn’t a surprise that Ludo King has seen their MAUs break the 1.5m barrier!

I have learned a lot about the gaming sector through my investment in Rolocule Games and Kabaddi Adda. But I am confident that social distancing norms will cause permanent changes in user behavior, encouraging more virtual social behavior. If I am right, gaming companies like Bombay Play will be laughing their way to the bank!

 

Name: NextBillionAI

Amount Raised: $7m from Lightspeed Venture and Falcon Edge.

 

What does NextBillionAI do?

Edited from Traxcn: Nextbillion.ai offers a wide range of AI-powered hyperlocal solutions, from business mapping to data management.

Why do I like NextBillionAI?

NextBillion.ai is a company that aggregates data from the half a billion Indians who have gone digital over the last 5 years. As of December 2019, India has 450mn smartphone users, so there’s a lot of data getting collected. NextBillion.ai is trying to make sense of all that data providing actionable data for businesses.

My Funding Picks For The Last Week (W25)

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 that are doing similar things. Click here to know about my rationale behind this weekly exercise.

 

While the funds raised by India’s startup ecosystem (barring Jio) fell, it was heartening to note that we continued to maintain 2 deals per day average with 13 startups raising $27 million. Out of the 13 deals, 10 were in the early-stage (compared to 13 last week) rounds, which made the cut for my weekly analysis.

After sifting through the news (aggregated from Tracxn, Inc42, and YourStory), I pick out these three as my favorite funding news from last week!

 

Name: Myelin Foundry

Amount Raised: Undisclosed from Pratithi

What does Myelin Foundry do?

Edited from Traxcn: Myelin Foundry is a video distribution solution provider. It helps to deliver ultra HD zero-rebuffering streaming, on any network and reduce the time and cost to market and deliver AI-powered content.

Why do I like Myelin Foundry?

At first look, Myelin reminded of Pied Piper from the show Silicon Valley. However, after checking out their products page, I am very excited about the tech stack that Myelin is attempting to build. If they can stream HD content through EDGE network – it could be a game-changer!

 

Name: Ameliorate Biotech

Amount Raised: ₹2cr from Friends of PadUp, Villgro USA, Vinners, LetsVenture, SINE IIT Bombay, and DERBI

What does Ameliorate Biotech do?

Edited from Traxcn: Ameliorate Biotech develops recombinant therapeutic proteins and diagnostic kits. They have developed their technology to produce a recombinant protein in an antibiotic-free process. They are developing biosimilar products for treating oncology, Autoimmune disease, ophthalmology, and nephrology.

Why do I like Ameliorate Biotech?

I am not a fan of biotech startups because of the long development cycle and high mortality rates of these companies. However, I like the experience the team of Dr. Rashbehari Tunga & Dr. Binit Tunga has in this field, and I’d want them to succeed.

 

Name: YoloBus

Amount Raised: $3.3M from Nexus Venture Partners and India Quotient

What does YoloBus do?

Edited from Tracxn: YoloBus is an online platform for travelers that provides intercity bus services. Travelers can select their route, choose pickup/destination, enter travel date & make bookings via the app by making an online payment. Their app is available for iOS & Android devices.

Why do I like YoloBus?

This one deserves another mention as I had shortlisted this deal in February 2020. Intercity travel must start once again, and I expect domestic tourism to boom first. However, the quality will trump cost when it comes to matters of health, and YoloBus has a great chance to capitalize on this new trend!

My Funding Picks of Last (two) Weeks (w13 & 14)

After the turbulence of the last few weeks, I finally carved out the time to share my funding picks of Week 13 & 14 of 2020.

My team and I shortlisted the deals for week 13 & 14 from Traxcn, Inc42, and YourStory and we jointly picked out the following as the best funding picks for 17th March to 29th March 2020 period:

 

Name: Qtalk

Amount Raised: $1.6 million from Accel India & Lightspeed Venture Partners

What does Qtalk do?

Edited from Traxcn: QTalk is a mobile application that provides calling for friends and family members. It allows users to make affordable local and international calls using phone internet/network or WiFi technology. Its features include call recording/history/remainders, caller ID, spam blocking, calendar integration, and others.

Why do I like Qtalk?

Qtalk brings an interesting tech layer on top of a regular dialup app providing smart features like silence overrides, shared browsing, and call intent. The app offers WiFi calling, which is a much-needed feature to overcome the overloaded network infrastructure in India today.

 

Name: MedCords

Amount Raised: ₹7 crores from InfoEdge India

What does MedCords do?

Edited from Traxcn: Medcords is a medical record management solutions provider for patients, doctors, pharmacies, and lab centers. Prescriptions, bills, personal information, etc. can be uploaded to the mobile app. Doctors can view the past medical history of patients and can access other medical records of the patients. Patients can view all information related to their health, and also pharmacies and labs can access the record to provide services to patients. Also, uses analytics and provides trends to doctors and patients

Why do I like MedCords?

Maintaining medical records is painful. To aggregate one’s medical information, prescriptions, blood reports, and past medical history into one space are even more painful. MedCords aims at solving this problem. It provides a one-stop solution for one’s medical needs, and once it reaches critical mass, the data analytics layers will pay rich dividends for the investor.

 

Name: PitStop

Amount Raised: $2.5 million from Group Landmark, Blume and Goldbell Group

What does PitStop do?

Edited from Traxcn: PitStop is a closed marketplace for car service providers. It provides an estimated cost of service and offers the option for doorstep pickup and delivery. Provides status tracking after booking service. They claim to have the service done in 2 hours. Pitstop has expanded to several locations including Delhi, Bangalore, Hyderabad, Mumbai, Pune, and others.

Why do I like PitStop?

I am not a big fan of the fragmented vehicular maintenance space. However, Pitstop’s substantial revenues numbers put them a cut above the rest. That is the reason why it is on my list. Pitstop wants to use the data reservoir created from its vast customer base to offer services like vehicular insurance, etc. If it can continue its phenomenal growth in the post-Corona phase – this one could be one to watch out!

 

PS: Artha Venture Fund invested in Agnikul, a deal that got announced a couple of weeks back. While I am a big fan of the team and the deal, I keep our investments outside the purview of these picks.

You can read Vinod and my reasons for investing in this detailed blog: Why We Invested in Agnikul?