January 24, 2022
January 24, 2022
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LetsVenture In The News(Jan 17-23)

Team LetsVenture

Here are the newsmakers from LetsVenture who made it to the headlines last week. From democratizing wealth management to detecting life threatening diseases early featuring Scripbox, LegalPay, Epigeneres Biotech & more.

Scripbox raises $21 million in funding round led by Accel Partners

The Bengaluru-based online wealth manager plans to use the funds to bolster its new product verticals, expand customer base and partner with more independent financial advisors.

Transpose Platform, DMI Alternative Investment Fund through The Sparkle Fund, InnoVen Capital, Trifecta Capital, KPB Family Trust, LetsVenture, Kube VC, and YY Capital LLC participated in the fundraising, as did angel investors like MakeMyTrip founder Deep Kalra, Freshworks CTO Shanmugam Krishnasamy, and Dell Technologies India MD Alok Ohrie.

Read more at:

Early cancer-detection startup Epigeneres Biotech raises $ 6M in Series B round

Mumbai-based Epigeneres Biotech, the exclusive licensee in India of Singapore-based Tzar Labs, has raised $ 6 million in a Series B funding round. Lead investors in this round include Kotak Investment Advisors, Moez Daya (of Satya Capital), and LetsVenture Angel Fund. Other investors include Ashish Kacholia, East River Advisors, One Decacorn, Nandita Advisors, and Chockalingam Valliappa, to name a few. This funding further embellishes the Company’s already illustrious investor list, which features the likes of HCG, Torrent Pharma, Vijay Karnani (Ex-Goldman Sachs, India), Venkat Ramaswamy (of Edelweiss), and Sanjeev Khandelwal (of K-Labs). The Company has V Krishnan (Promoter, Justdial) and Shailesh Haribhakti (BOD Torrent Pharma) as board members.

In May 2021, Epigeneres Biotech announced their early detection cancer test (co-developed  with Tzar Labs, Singapore - a specialised molecular diagnostic company), with a pioneering breakthrough in RNA bio-markers technology which can even detect cancer in Stage Zero (i.e., before tumour formation). With initial approvals in place, the latest round of investment will go towards expanding its Lab facilities, scaling operations, and development of an AI platform to launch the service in India - a world first. And, continue bringing the best diagnostic technology to patients and providers.

Read more at: https://yourstory.com/2022/01/early-cancer-detection-startup-epigeneres-biotech-raises-seriesb-round/amp

Legalpay's new SPV for small investors betting on stressed healthcare cos

Fintech LegalPay has launched an interim finance healthcare-focused fund for retail investors that grants them fractional ownership, for an investment amount as little as Rs 10,000 per opportunity, in asset-backed legal and debt financing asset classes.

Interim Finance under IBC, 2016 is short-term super-secure financing that allows an insolvent company to remain operational while undergoing the Corporate Insolvency Resolution Process (CIRP). LegalPay targets mid-market companies, including MSMEs, that undergoing insolvencies, requiring amounts ranging from Rs 10 lakh to Rs 5 crore.

Read more at: https://www.business-standard.com/article/companies/legalpay-s-new-spv-for-small-investors-betting-on-stressed-healthcare-cos-122011801270_1.html

Inside GlobalBees and the ecommerce roll-up gambit

The homegrown unicorn is beefing up its portfolio by aggregating a colony of D2C digital brands, but with global leader Thrasio entering India, can the startup get ahead of competition?

Industry analysts predict more bullishness in the roll-up space. “The segment is heating up and it is just the beginning,” says Nakul Saxena, head, fund strategy and investor relations at LetsVenture, an early-stage investment platform for startups. Saxena explains India’s voracious appetite for branded play. The pandemic tailwinds have resulted in wider adoption of digital way of life, from payments to online buying to experimenting with new brands.

Read more at: https://www.forbesindia.com/article/take-one-big-story-of-the-day/inside-globalbees-and-the-ecommerce-rollup-gambit/72991/1

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