My Funding Picks For The Last Week (W24)

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 most of India reopened, so did the funding lords! There was a marked increase in the number of startups that raised capital with 19 startups raising $92 million. Out of the 19 deals, 13 were in the early-stage rounds, which made the cut for my weekly analysis.

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

 

Name: Cube Wealth

Amount Raised: $500k from Beenext and Asuka Holding

What does Cube Wealth do?

Edited from Traxcn: Cube Wealth is an automated investment management app which, offers personalized recommendations from financial advisors. Users get provided with an option of goal-oriented financial management. Users can set their financial goals, and Cube Wealth saves for the same via EMIs. It invests the money in diversified asset classes, including liquid, MFs, equities, P2P lending, and gold. The app is available for iOS and Android platforms.

Why do I like Cube Wealth?

The Indian wealth & investment management space is broken. A user must struggle through a multitude of apps to gain a full understanding of their exact financial positions. The decentralized information works against the middle class as they cannot seek better deals for their investments. Besides, the power of wealth aggregation that the larger family offices platforms utilize to get access to closet deals or better negotiation terms aren’t available to a middle-class family. Platforms like Cube seek to address this imbalance by using technology & scale to provide premium services at an affordable cost. With 500 million people set to enter the Indian middle Cube has a bright future ahead of them!

 

Name: Credgenics

Amount RaisedUndisclosed from Titan Capital

What does Credgenics do?

Edited from Traxcn: Credgenics offers cloud-based debt recovery solutions to banks and lenders. Its features include collection strategy, analytics for profiling & collection, automated communication for customer engagement, and more. It provides solutions for alternative dispute resolution, insolvency & bankruptcy, fintech laws, and more.

Why do I like Credgenics?

Collections are an art, and while it is easy to lend money, not every fintech company can build a strong collections team. Therefore I am excited that there are startups like Credgenics that we can get our fintech companies to outsource their collections operations too. And it isn’t a surprise that bad debts make excellent business sense!

 

Name: IVF Access

Amount Raised: $5M from Vertex Ventures SEA & India

What does IVF Access do?

Edited from YourStory: IVF Access is a Bengaluru-based healthcare startup focused on providing In Vitro Fertilisation (IVF) treatments in India. Led by an experienced management team, IVF Access is setting up a chain of IVF centers in India, providing Assisted Reproductive treatments such as IVF and IUI. They offer nationwide access to IVF treatments with an innovative technology platform and state-of-the-art labs.

Why do I like IVF Access?

Babies are a multi-billion business opportunity. Therefore, it is not a surprise that the business of making babies is massive. Due to lifestyle-related issues & an increase in the age at which couples have babies, there is a marked increase in IVF clinics. While the market IVF market size is small, it’s going to grow to $1.50 billion by 2026.

IVF Access is an early player in providing a single brand for IVF clinics and could capitalize on a deeply fragmented space!

My Funding Picks For The Last Week (W22 & 23)

Every Monday, I sit with my team to review the funding activity of the previous weekFrom that list, I pick out 3 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 

 

Another week for the lockdown to end (probably more for metro cities) should improve investment spirits. Deal activity continues to temper, but it hasn’t completely stopped. Last week saw 13 startups raise $50 million. Out of the 13 deals, 11 were in the early-stage rounds.  

I expect deal activity to pick up over the next few weeks as the economy reopens with founders and funders finally get to their rubber meeting the road moment.  

After sifting through the news (aggregated from TracxnInc42, and YourStory,) I picked out these 2 as my favorite funding news from last week!  

 

NameRemedo Clinitech 

Amount Raised: Undisclosed from AngelList, Mohit Satyanand, Mitesh Dagaand Aditya Vij 

What does Remedo do? 

Edited from TraxcnRemedo Doctor is a cloud-based platform for medical record storage. It allows patients, doctors, and clinics to connect with each other and access relevant data. It enables patients to upload and store their medical records online. Available on Android and iOS platforms. Also, it allows doctors to generate insights through dashboards based on analytics. 

Why do I like Remedo? 

My thesis on telemedicine and recordkeeping has undergone a significant shift during this economic lockdown and its aftereffects. Platforms such as Remedo will become the mainstay of Indian healthcare as we practice social distancing but with better record keeping and tabs on our health.  

 

NameSwifLearn 

Amount RaisedUndisclosed from Stellaris Venture Partners and Venture Highway  

What does SwifLearn do? 

Edited from TraxcnSwiflearn is an online platform that provides live tuitions for K-12 students. It offers classes in small batches of 5 students. It offers crash courses for math & science for the upcoming year-end exam. 

Why do I like SwifLearn? 

Another product accelerated to the market due to the COVID lockdown. I like their premise, i.e., replace the in-person tutor experience by creating the same experience online. It increases the productivity of the tutor (and they don’t have to leave home!) but also provides them a more significant reach.  

There is better control over the learning experience online, and the broader reach makes it affordable for students. Their pricing policy is exciting too. Definitely, one to watch out. 

My funding picks of last week (w18)

Fundraising activity continues to slow down; therefore, my team and I had a tough time shortlisting our favorite picks with just a handful of deals to choose from. After shortlisting all early-stage deals activity for week 18 from Traxcn, Inc42, and YourStory, we jointly picked out the following as the best funding picks for the last week:

 

Name: QuillBot

Amount Raised: $4 Mn in a round led by GSV Ventures and Sierra Ventures

What does QuillBot do?

Edited from Traxcn: Millions trust QuillBot’s full-sentence thesaurus to get creative suggestions, rewrite content, and get over writer’s block. QuillBot uses state-of-the-art AI to rewrite any sentence or article you give it.

Why do I like QuillBot?

My team and I are Grammarly power users processing tens of thousands of words for our investment notes, meeting minutes, emails, blogs, private chats, and more. I believe that there is space for a Grammarly competitor, especially one that understands the Indianized English – also, can Quillbot (or Grammarly) build a plugin for PowerPoint, please!

 

Name: YAP

Amount Raised: $4.5 Mn led by BEENEXT

What does YAP do?

Edited from Traxcn: YAP offers a white label program management platform. They also issue a Yap Tatkal wallet, which allows their clients to provide their customers physical or virtual prepaid cards linked to their products. They also offer a QR payment solution in the mobile wallet.

Why do I like YAP?

The lockdown caught the banks with their pants down due to unpreparedness to go digital. The post-lockdown scenario is bleak for physical banking, and banks must prepare themselves to fully service their customers from the palm of their hands. YAP is building APIs to bridge that gap hence one to look out for.

 

Name: Mindhouse

Amount Raised: ~$680K from BTB Ventures, GGV Capital, Aartieca Family Trust, and Angels

What does Mindhouse do?

Edited from Traxcn: Standalone mental fitness and wellness center brand

Why do I like Mindhouse?

The COVID19 virus reserves it’s worst for those with weakened immune systems. Therefore I expect that fitness (physical or mental) will be on the priority list of most in the post-virus era. Mindhouse attempts to enter the space that mind.fit is operating in. Will it succeed?