Indian 100m series fund

Palicha said one of the reasons why so many executives have joined Zepto is that it has enabled many who had moved from Mumbai to Bangalore to come back to their home city. But the startup’s aggressive growth, disciplined execution, and ambitions have made it attractive for people with similar taste, he said. “We have been able to walk the walk,” he said.

“We are excited to double down and lead this round in Zepto (YC W21). Since Aadit and Kaivalya went through Y Combinator, we have observed that they’re exceptional founders who bring relentless focus and “Doordash-like” execution to the quick commerce model,” said Anu Hariharan, a partner at Y Combinator, in a statement.

“They originally launched with a different model, swiftly pivoted to quick commerce in August 2021 and are now adding 100,000 new customers every week, 60% of them women.

And finally, companies like Loco (gaming), Pocket Aces (video), Headfone (audio), Advantage Club (benefits) and Kaagaz (personal cloud) are building category leading consumer products for Digital India.

With this kind of portfolio, we are only excited to be our launching our next fund. The new fund is not just larger but also more founder-friendly. We have incorporated all the learnings from our last fund to make it even more relevant to early-stage founders.

It sets aside 30% of the corpus towards cross-over companies – winners from the first fund. It has a tenure of 15 years that allows us to stay longer with our companies. It also has a higher follow-on reserve. We will continue our deep engagement model and a programmatic approach that predictably delivers better outcomes for our startups.

As the pandemic raged, the two struggled to get their grocery supplies even as grocery deliveries, categorized as essential by the local government, was still permitted in much of the nation.

“We felt that the online play of the Indian grocery delivery space, which is one of the world’s largest, was grappling with some gross execution errors,” Palicha claimed in an earlier interview without elaborating.

In an interview last week, Palicha said the startup is overwhelmed with the support and excitement it is seeing from the customers, but it doesn’t want to “become complacent.”

“We are somewhat overly critical of ourselves and hold ourselves to very high standards. People are happy that they are getting their deliveries in 10 minutes or less, but can we continue to focus on scaling our SKUs and improving our unit economics?” he said.

Indian 100m series funda

And, a 10% portfolio mortality rate is testament to the perseverance of our portfolio founders. We have been most lucky to find our founder-fund fit – a unique brand of Axilor founders. Founders who are execution focused, founders who have a healthy respect for capital, founders with a strong operator mindset who have set out to build valuable businesses – with or without capital, market cycles or otherwise! It is not a surprise that with such founders more than 50% of our mature portfolio is already at an ARR greater than $1m.
And the half-life for this milestone is falling as more and more companies are getting there faster. With an industry leading founder NPS of 67%, we are proud to be seen by founders as being on their side and a fund which is ‘easy to work with’.

Axilor is known by its startups and our startups have made us proud with what they have achieved.

Indian 100m series funday

Like with our first fund, we will play to our strengths by focusing on capital efficient business models in B2B commerce, healthcare, global enterprise SaaS, fintech and agriculture. We will continue to be thesis-led and invest in areas where we have the expertise and portfolio learnings. Our concentrated sector bets will benefit every incoming founder to learn from the experiences of the portfolio founders and the sectoral play-books.

There is no better time to invest in innovation coming out of India.
Seven years into this journey, the original vision of building a platform to improve the odds of success of early stage startups, remains as relevant. But with the ecosystem maturing and founder ambition growing, the scale of our aspiration, needs to keep pace.

Indian 100m series funded

Zepto, a Mumbai-based startup that operates a 10-minute instant grocery delivery service, has more than doubled its valuation to $570 million from $225 million less than two months ago as it expands into newer cities.

Y Combinator’s Continuity Fund led the $100 million Series C round in Zepto, the two said Monday. Glade Brook, Nexus, Breyer Capital, Lachy Groom, Global Founders Capital and Contrary Capital also participated in the round, which brings its to-date raise to $160 million.

The startup, founded by two 19-year-old entrepreneurs who left Stanford last year, came out of stealth mode in November.

And while best-in-class tools are the top contributor to business success, only 5 percent of executives ranked tools among their top-three software enablers. There’s a clear underinvestment in tools that make developers more productive, and ultimately, businesses more successful.

With this round of funding, we will continue to invest in our platform, building out our Insights dashboard, expanding our fleet of 20+ compute options, and making it easier to host your CI jobs wherever you want – in the cloud, on self-hosted runners, or on a private server. We also plan to keep innovating, bringing on more features like dynamic config, private orbs, and test insights.

We’ll do this while keeping CircleCI the fastest and most performant platform for continuous integration and delivery available.

We’ll also continue to invest in our people.

The app includes nearly 70+ communities for skilled professionals like carpenters, painters, telecallers, field sales agents, delivery personnel, and others.

The apna communities have allowed users to build their professional networks, upskill via peer learning and discover gig opportunities. The communities have facilitated 17 million peer-to-peer professional conversations in the last month.

Apna seems to have built an innovative platform to address some very pressing issues of the time. I’m sure the startup will impact several lives through its platform.
My best wishes to the team of Apna.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds.

After spending more than 5000 hours of working closely with early-stage startups through the largest and No.1 rated accelerator program, we have been able to take those learnings to develop a unique, deep engagement model to our seed fund. In addition to becoming the second most active seed fund and creating a strong Series A pipeline, we have built a brand which is loved by founders and respected by VCs.

Respect follows performance and any fund’s performance is finally a reflection of the kind of portfolio founders we work with. Thanks to such founders, our results have been incredible.

7 years, 150+ startups engaged, ₹200 crore of capital deployed, 54 investments done, 77% follow-on rate, 48% Seed to Series A conversion and 21 portfolio startups which have already crossed Series A and beyond, making it one of the largest Series A portfolio for any first fund in India.

More than 50% of our mature portfolio is either No 1 or 2 in their respective categories, and most of them have spent 2-3x less capital than their closest competitors to hit the revenue scale. Several startups have literally launched new categories when none existed. Detect has demonstrated what it takes to build and sell deep-tech products to Fortune 100 companies.
Vyapar proved that Indian SMBs pay for software. Niramai, the only Indian company in Global 100 AI companies, proved it is possible to find the perfect intersection of deep tech and a large, global healthcare challenge. Several other companies like Wiz (freight), Brands of Bharat (FMCG), Metal Book (steel), Bizztm (m-commerce) are digitising large but archaic supply chains – one vertical at a time.

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