This week, we completed nine years of creating value and wealth for our stakeholders. On May 31, we marked the day with a small celebration in our offices in Bangalore, Delhi, and Mumbai. All the teams gathered offline in their respective locations and then connected with the others over Zoom taking part in a shared cake-cutting ceremony and listening to stories from the early days from our CEO and Co-founder Shanti Mohan and Ganesh Nayak, who was part of the founding team at LetsVenture.
While it feels like a significant milestone. We would like to take this opportunity to thank all of you who have stood by us through our nine-year journey.
We are kickstarting our annual flagship event LetsIgnite 2022 with an exclusive curtain-raiser in New Delhi on June 11. We will be showcasing Lenskart Co-founder and CEO Peyush Bansal's Shark Tank portfolio. This will be a closed-door, by-invite event for Peyush's Shark Tank portfolio companies to come together and share their journey post Shark Tank, network with each other as a cohort, and connect with VCs & marquee angel investors to raise the next round of funding.
We also participated in media discussions on topics topmost on everyone's minds. This week, in an interaction with VCCircle on investor sentiments around the Metaverse concept, Nakul Saxena, Head Investor Relations and Fund Management, said, “While we see the Indian market shaping up several products and features in the past and even in the current scenario, India will definitely help in shaping the metaverse concept.” LetsVenture, which invested in industrial metaverse platform Fabrik last month, will continue to invest in startups in this space.
Read the full story here- https://tinyurl.com/4amt436p
And if you want to know more about angel investing, visit here to learn what the top investors know.
Our portfolio companies made us proud yet again. Congratulations to SUGAR Cosmetics, PumPumPum, Revamp Moto, and Kloudmate for raising their succeeding rounds. In addition to this, goSTOPS & SpeEdLabs were also featured in the media.
Catch all the highlights below:
PumPumPum: Lease high quality pre-owned cars near you
Startup Name: PumPumPum
Sector: Pre-owned cars
Founder: Sameer Kalra andTarun Lawadia
Growth Factor: PumPumPum is one of the first companies in India to venture in the segment of subscription/leasing of used cars. Owing to the company's unique business model, customer-first approach and value-added services like insurance and servicing, PumPumPum recorded a 1000% growth in the auto segment in FY2021-22. Though the company is only present in Delhi-NCR and Bengaluru, it manages and services its fleet in over 55 cities.
Sugar rush and more
Startup Name: SUGAR Cosmetics
Sector: Cosmetics & Lifestyle
Founder: Vineeta Singh, Kaushik Mukherjee
Growth Factor: What can we say about this delightful brand that has not already been said. It continues its march upwards giving everyone a sugar rush. The beauty brand's current annualised revenue run rate is around Rs 500 crore and that is expected to reach Rs 2,000 crore over the next 24-36 months. Sugar has a target of having 200 brand-owned stores. By the end of the year, the brand expects to have at least 150 exclusive brand outlets and a lot of that expansion will be focused on the South Indian market. Its products are available across 35,000 multi-brand outlets spread across 550 cities in the country.
Revamp Moto: From Shark Tank on to the road
Startup Name: Revamp Moto
Founder: Pushkaraj Salunke, Pritesh Mahajan, and Jayesh Tope
Growth Factor: Started in January 2021 by Pritesh Mahajan, Jayesh Tope, and Pushkarak Salunke, Revamp Moto manufacturers electric two-wheelers for delivery agents, milkmen, vegetable vendors, and others. The company came to the limelight in Shark Tank, India, where it raised funds from Anupam Mittal and Aman Gupta.The company plans to use the fresh funds raised in the round to hire top talent, product development, and match the rising demand for mobility vehicles.
Kloudmate: solving for deep-tech
Startup Name: Kloudmate
Sector: IT Technology
Founder: Amitava Saha, Pranab Buragohain, and Bidyut Baruah
Growth Factor: KloudMate, a deep-tech platform founded by Amitava Saha, Pranab Buragohain, and Bidyut Baruah, detects performance bottlenecks in serverless applications, identifies errors, and helps developers fix issues in a matter of minutes, instead of hours.
goSTOPS: community and design-led hotel transformation
Startup Name: goSTOPS
Founder: Pankaj Parwanda and Pallavi Agarwal
Growth Factor: Founded by Pankaj Parwanda and Pallavi Agarwal, goSTOPS is a community and design-led hotel transformation that harnesses the efficiencies of the sharing economy. It makes a high-quality, youth-focused stay accessible within a Gen Z friendly budget of Rs 500 per night. Operating across 20 destinations in India, goSTOPS has hosted over 500K guests in its properties since its inception.