It was indeed an eventful week for all of us at LetsVenture. We hosted LetsRise with Peyush Bansal event recently which was aimed at showcasing the progress of Shark Peyush Bansal’s portfolio companies from the popular television show Shark Tank.
“Just as LetsVenture took entrepreneurship to investors, Shark Tank took it to the kids in every household,” Peyush Bansal, Lenskart Founder and CEO, said while opening LetsVenture’s LetsRaise with Peyush Bansal, in association with IDFC First Bank, in an exclusive event in Delhi on June 11, 2022.
Adding to an eventful week, our portfolio companies made it to the headlines as well. FunctionUp was featured as one of the 30 startups to watch out for by INC42, and PMaps, Siply, and Rooba Finance raised funding rounds to fuel the next stage of growth.
Catch all the highlights here.
Rooba Finance: securing digital assets
Startup Name: Fooba
Sector: Digital assets management
Founder: Mitesh Shah,Vinay Bansal, and Ankur Mittal
Growth Factor: The global cryptocurrency is valued at $1.69 billion in 2021 and is expected to grow at a CAGR of 7.2 % during the forecast period of 2021 to 2027. Rooba Finance is an institutional digital assets management platform that helps institutions, HNIs, Hedge funds, family offices, and so on, to store their digital assets like crypto, NFT, and other tokens in the most secure manner and have access to multiple investment vehicles in a single frame.
Siply: microsavings platform
Startup Name: Simply
Sector: Personal Finance
Founder: Sousthav Chakrabarty and Anil Bhat
Growth Factor: Siply is currently at a $1M revenue run rate, which has grown 22X since its last round, and is projected to reach a $12M revenue run rate and $80M AUM in chit funds alone by March 2023. Siply expects to achieve $690M AUM by March 2024 with a $51M revenue run rate.
PMaps: Visual-based assessment platform
Startup Name: PMaps
Sector: HR Tech
Founder: Saurabh Rana, Tarvinder Kaur
Growth Factor: The assessment platform has collectively assessed more than two million assessments. The company's technological solutions have reduced the time involved in hiring by 60 % as well as improved hiring outcomes across mass recruiters. Candidates attaining higher PMaps score invariably perform better and stay longer in typical work settings. The platform aims to be the leading non-technical assessment platform globally.
FunctionUP: placement bootcamp
Startup Name: FunctionUp
Growth Factor: FunctionUp is a placement bootcamp, that provides intensive four-months training program where individuals get to work on real-life projects for some top-tier startups.The company is targeting to increase the intake of candidates to 1000 per cohort as there are enough opportunities to deserving candidates for the bootcamp. The company has seen a growth of 150% month-on-month in the past nine months. They aim to train more than 5000 trainees in FY 23.