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InnoVen Capital closes venture debt transactions worth over $13MM

Thursday, April 21, 2016




Provides venture debt financing to leading Indian start-ups including 
CredR, Shadowfax, Suburban, ZopNow&Voonik


​Mumbai,InnoVen Capital, India's first and largest venture debt and speciality lending business has closed venture debt transactions worth over $13 MM

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with a number of leading Indian startups, including diagnostic chain – Suburban Diagnostics, personalisation-focused fashion marketplace – Voonik, hyperlocal grocery delivery service – Zopnow, used vehicles marketplace – Credr, and on-demand logistics provider – Shadowfax.

Some of the existing portfolio companies that have raised further rounds of venture debt funding are cloud software solutions company Capillary Technologies, mobile ad-tech venture Affle, and Ed tech firm –Byju's.

Earlier this year, InnoVenhad announced disbursal of over Rs. 275 crore across 27 debt transactions in 2015. It witnessed a massive 100% growth over the previous year in terms of number of clients and loan volumes. This year, InnoVen Capital aims to provide fresh funding in excess of $65 million.In addition, the platform also recently funded its debut deals in the South Asia region outside India, in Malaysia and Thailand.

InnoVen Capital continuously leverages its network and association with the early stage ecosystem for knowledge sharing initiatives. Speaking on the announcement,Vinod Murali,Managing Director India said, “While the focus for most entrepreneurs has shifted to preserving capital and improving unit economics to demonstrate better operating efficiencies, it is important for companies to have the ability to still experiment and test their hypotheses on solving various problems as part of their growth lifecycle. Venture debt provides them with additional firepower to build over and above the base case without the effect of additional equity dilution. In some instances, founders have also taken venture debt to ensure they have sufficient runway extension so that they can go to market from a position of strength.”

Venture debt is specialty debt financing available to VC backed companies that have typically raised at least $3 and $5 million or more in funding from reputed Venture Capital investors.

InnoVen Capital is Asia's leading venture lending platform providing debt capital to high growth innovative ventures backed by top tier venture capital firms. InnoVen Capital India (formerly known as SVB India Finance) started in 2008 as the first dedicated venture debt provider in India. The platform offers multiple sources of diverse debt capital including venture debt, acquisition financing, growth capital and capex financing. Till date, InnoVen Capital India has provided over 100 loans to 70 companies across early to mid-growth stage that include Snapdeal, Freecharge, Myntra, Practo, Portea, PepperTap, Byju’s, Faaso

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Latestone.com declares 50% growth on net revenue .

 

 

LatestOne.com Growth highlights of Q4 FY 15-16

·         Gross revenue for Q3 FY 15-16 was INR 14.5 crores and net revenue was INR 9 crores

·         Gross revenue for Q4 FY 15-16of INR 20 crores and net revenue of INR 13.50 crores

·         50% growth in net revenue on a sequential quarter on quarter basis

 

 

21st April, 2016: LatestOne.com, India’s largest tech & mobile accessories e-tailer continues its aggressive growth and has declared a 50% growth in net revenue on a quarter on quarter basis. After building the technology and setting up processes, Latestone.com commenced operations in October 2014, and in a short span of time has reached a milestone by achieving on an average 4000 orders per day from 100 orders per day. The site receives over 3.5 Million visitors in a month and till date has successfully shipped / delivered more than one million orders since the commencement of operations. 

 

Mr. Ameen Khwaja, Founder and CEO LatestOne.com said, “In the midst of unanswered question whether e-commerce sites will be able to seize the opportunity for growth and also make money for their investors, LatestOne.com is breaking the mold by experiencing a continuous growth in average order value as well as a number of products delivered on quarter on quarter basis. Our customer base and demand are also increasing continuously, and to stay abreast with these demands, we are adding new products and categories within the domain of mobile and tech accessories every quarter. In May, we plan to launch a virtual reality set of products at an attractive price of INR 1599 exclusively on LatestOne.com”.

 

The only differentiator between a success & failure in e-commerce was funding until recently, but with the new foreign direct investment (FDI) regulations in e-commerce from Department of Industrial Policy and Promotion (DIPP) will ensure that performance driven companies will succeed against funding driven companies. This will also give Indian funded companies like LatestOne.com a great chance to succeed, on a level playing field. LatestOne.com follows an inventory-based model, and about 60-70% of the sales comes from its own private label brand PTron. The company operates through its warehouses in Delhi and Hyderabad, delivering tech and mobile accessories to over 19,000 pin code locations in the country.

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ORRA featured as a case study by Google

Thursday, April 14, 2016

ORRA, India’s premier diamond jewellery brand has recently been featured as a case study by search engine giant Google, in India. The video feature showcases how ORRA as a brand has been able to successfully capitalize on the digital medium to increase sales as well as spread their essence of luxury to the online world. Other brands that have been featured by Google as part of their case studies in the past include Dabur, Pepsi, Kellogg’s and MTS.

Having successfully built its on ground presence with 34 retail stores across 25 cities, ORRA today has been able to truly establish its omni channel presence allowing for dedicated attention towards the changing preferences of the digital audience in India.

Commenting on the launch of the study, Mr. Vijay Jain (CEO and Director – ORRA) says, “We are elated at being selected as a part of Google’s prestigious list of case studies in India. It has definitely been a big boost to us to have our work in the digital medium recognized by the world’s largest search engine, showing us that our efforts are going in the right direction. Through effective search engine optimization we at ORRA have been able to effectively deepen penetration within the existing markets as well as reach out to a large consumer base in the tier two and tier three cities, thereby redefining the concept of luxury while staying true to the core message of the brand.”

With digital technology transforming not only the perceptions and expectations of the consumer but also the supply dynamics, going forward, ORRA aims to further capitalize on effective integration in the online space through omni-channel marketing.

One can view the entire case study at https://www.youtube.com/watch?v=ID9uwydCiME

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Tech start-up Trestor embarks on Mission Clean


  • Chandigarh-based start-up embarks on community-driven initiative facilitated by  ‘Swachh Machine’ developed by it in association with students of IIT Bombay
  • Leveraging technology to help create healthy, responsible communities, Trestor has developed this machine under Swachh Bharat campaign to involve people of Mumbai in keeping public places clean, provide them ready access to clean drinking water
Mumbai, April 7, 2016: Trestor, an emerging Chandigarh-based tech start-up drawing on social impact to create value for communities and building on their very power to empower them, today announced the launch of an inspiring community-driven initiative facilitated by a “Swachh Machine” developed by the start-up in association with students from IIT Bombay under the Swachh Bharat campaign to encourage people of Mumbai to keep public places clean and provide them ready access to clean drinking water.
Addressing a press conference here, Trestor founder Kunal Dixit said, “Through our Swachh Machine, we intend to inculcate a culture of cleanliness among the people of Mumbai by incentivising them for every used bottle or aluminium can (recyclable waste) they put in the machine, in lieu of which they will be rewarded with a digital value token called ‘trest’, which can also be exchanged for 300 ml of clean drinking water. The lack of access to clean drinking water is a major problem across the country, particularly in large cities like Mumbai which are bursting at the seams. The state of cleanliness and the proactive role people can play in maintaining it leaves a lot to be desired. Our Swachh Machine is aimed at bridging these gaps.”
Leveraging innovative technologies to help create healthy and responsible communities, Trestor has embarked on this clean and green initiative to address the need to involve communities in keeping their surroundings clean and ensure the availability of clean drinking water, a pressing necessity which most Indians are deprived of even after 68 years of Independence, at the press of a button.
Currently being used in the boys’ hostels of IIT Mumbai, Swachh Machine has already helped reduce their weekly plastic waste by over 10 kg. With a storage and recycling unit at the bottom and an RO water filtration unit at the top, Swachh Machine is equipped with a 7-inch interactive touch screen and internet connectivity. It also has an NFC (near field communication) and bluetooth interface for unhindered connectivity and a notification system for administrators to alert them on usage and maintenance.
“So as to earn trests as a reward for disposing of used cans or bottles in the machine, you can log in with your Trestor user ID through the interactive screen on the Swachh Machine and connect it with the Trestor application on your mobile phone, following which the number of trests you have earned will be transferred to your account. You can also get 300 ml of water in return for every bottle or can you dispose of in the machine after putting the Trest token slip you get in return into another slot. The coupons can also be redeemed in the app by adding the coupon code,” Dixit explained.
The recycling unit, which has separate compartments for plastic bottles and aluminium cans, can crush bottles and cans of a maximum capacity of 1 litre. The collected waste is then crushed to occupy minimum space, and an automated notification is sent to the administrator of the machine when the container reaches 80% of its storage capacity. The container is easily detachable and can be directly emptied in a carriage vehicle for recycling.
The water dispenser, equipped with RO and UV filtration, has a storage capacity of 8 litres and can provide cold or normal water as per demand. It can be further connected with a source of flowing water to ensure uninterrupted clean drinking water.
Dixit said this initiative would prove to be very beneficial for people in public places like metro stations which lack adequate access to clean drinking water owing to unclean storage systems. He said many government institutions and private companies have evinced keen interest in Swachh Machine and his company has initiated the process of signing letters of intent with some of them.

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Wildcraft enters the wearable space with a GPS Tracking device.



Bangalore 2016: Wildcraft, India’s leading outdoor gear, apparel & footwear company, has launched an intelligent GPS tracking device called “SPOT”. SPOT allows you to check the location of your loved ones via an app on your smartphone. A highly portable device, SPOT can be worn on the wrist as a band or hooked onto your backpack via a clip.

“The launch of SPOT is a first step into the exciting arena of wearable. It fits right into our ambition of equipping travelers on their adventures. By allowing you to see the location of your loved ones, SPOT takes away the stress of not knowing where they are if they’ve been out of touch. We’ve got a host of parents expressing interest in the device from a safety standpoint – what better way to let your kids roam free without you worrying!” says Gaurav Dublish, Director of Wildcraft.

The SPOT device comes as a kit. It contains 1 wireless magnetic USB Charger, 1 silicon wrist strap, 1 clip holder to clip it on backpacks, 1 pin for power on/off and the user manual detailing on the guidelines to use the product and enjoy it’s features.

Info about Spot:
SPOT is an accurate location monitoring device. It comes with a dual mode technology, GPS + LBS enabling accuracy of up to 10 meters. Wildcraft SPOT is functional through a SIM card which enables the upload and recording of location data real-time or at intervals of a few hours, as selected by the user. It’s connected to an App which is available on both Android play store and the Apple appstore.

One of the key features of Wildcraft SPOT is the SOS button which allows the user to send an alert in case of an emergency to pre-saved contacts. The Safety Zone feature allows the user to determine a safety perimeter of up to 2kms. If the device moves out of this Safety Zone, a notification will be sent to the pre-set contact numbers.

Wildcraft SPOT can be used in schools where mobile phone usage is restricted. But the device allows outbound voice calling which is useful in case you need to get in touch urgently.

Availability:
Wildcraft SPOT is available to customers on the Wildcraft website, Wildcraft.in/spot for INR 5995/-


Wildcraft is India’s fastest growing outdoor gear, clothing & footwear brand. The brainchild of an intrepid explorer, Wildcraft is a brand born for the open air. Whether it’s a hill or a mountain, the forest or the countryside, the great outdoors can invigorate you like no other and Wildcraft equips you with the means to experience it. A head–to–toe outfitter, the company’s product portfolio includes jackets, shoes, rucksacks, sleeping bags, tents and travel accessories for trekking, camping and other outdoor pursuits. Wildcraft products are designed to work with, not against, the elements and are available in over 140 exclusive stores and 3,000+ multi-branded stores in over 500 cities. The company’s inspiring growth story has seen it develop from a hobbyist ‘garage’ brand 17 years ago to an INR 300+ crore company committed to enabling and enhancing India’s pursuit of the great outdoors.
With a team of passionate individuals at the helm, the company is now making rapid strides towards what it was always meant to do – enable people to discover the outdoors. To find out more, explore www.wildcraft.in.

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ESPARK-VIRIDIAN gets overwhelming response from all over the country for its Start-up competition


The top 25 mentored by world renowned experts & mentors and innovative startups to be part of Espark-Viridian accelerator
New Delhi, 12th April 2016: Enthused by the ‘massive’ response to its start-up competition ‘BigB Plan 2016’, leading accelerator Espark-Viridian today said that the startup ecosystem has become economy’s growth engine and it is important to support innovative idea based entrepreneurs.
Announcing the winners of the competition organised in association with Headstart Network, Viridian Ventures, Director Mr. Vibuti Channa said “India today stands at the threshold of a new era of product innovation. Our endeavour has been to identify budding entrepreneurs and provide them with all necessary support. It is important to nurture and guide an idea in its early stage to ensure it reaches its maximum potential.”
Small Spark Concepts, Algaari Ventures and Kalaage have been adjudged for first, second and third position respectively after the two month long rigorous contest BigB plan 2016.
Espark-Viridian, which is a joint venture between Viridian Ventures and UK based Entrepreneurial spark promotes, mentors and guides start-ups in early and growth stage startups.
The two-month long, pan-India contest was initiated to help the budding entrepreneurs validate their ideas, provide one-on-one mentorship from internationally recognised experts and gain access to a wide network of investors.
“It is remarkable to see a large number of applications that have the potential to significantly enhance the lifestyle of Indian citizens through innovative solutions.” Mr. Channa added.
The winners were adjudged by an expert panel comprising Jim Duffy, CEO, Entrepreneurial Spark(UK); Vibhuti Channa, Director, Viridian Ventures; Amit Singh, MD, Headstart Network; Murali Hariharan, MD, Venture Investments (Singapore); Lucy Rose Walker; Cofounder, Entrepreneurial Spark(UK); Paresh Gupta, Founder, Neos Angels; Arpit Agarwal, Principal, Blume Ventures; Sanjay Gupta, Mentor and Investor, Gaurav Aggarwal , Founder, Gamezop; Prajakt Raut, Founder, Applify; Dr Wenting Sun, CTO, Ad+ Platform (Singapore)
Brief description about the winners:
1.     Small Spark Concepts – Winner – INR 1 Lakh
A dream come true for every vehicle owner, the patented product of Small Spark Concepts, Mileage Air Filter (MAF), increases the efficiency of the vehicles by 40-50 per cent.
2.      Algaari Ventures - 1st runners-up INR 50k
With a promise to make the air around you healthy to breathe, Algaari Ventures develops air purifier with next gen technology for indoor use. The purifier uses 3-level air filtration, comprising Carbon filter, UV light, and Ozone which removes impurities present in the air including bacteria, viruses, other allergens, pathogens and even smoke present in the air, hence, purifying the air.
3.      Kalaage – 2nd runners-up  INR 30K
Connecting the world of writers and publishers, Kalaage is a unique platform that aims to bridge the gap in a unique and interactive manner. The platform enables writers across fields and from anywhere in the world to upload their work such as poems, articles, stories, views, etc. This work, subject to writer’s consent, can be accessed by publications globally, provided they sign up on Kalaage. Apart from getting content, the publishers are given an option to host and sell their issues, interact directly with writers, increase their subscription base, etc. Writers on the other hand can sign-up on Kalaage for free and send their content to publications of their choice for publishing. Writers send content based on the submission requirements of various publications and are notified as and when they get published along with a feedback from the editor.


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