Early stage capital for global innovation
Focused on tech startups in the US and in India
NEWSLETTER - April, 2019
SRI CAPITAL UPDATES

SRI Capital invests in Fitso, a sports-tech startup

SRI Capital has invested in Fitso as a part of pre-Series A round along with Sprout Capital and other angels. Fitso provides standardised facilities along with certified coaches for swimming in Delhi NCR currently. Fitso was founded by Naman, Rahool and Saurabh, all IIT Delhi graduates with a passion for sports and a desire to enable others to play sports without hassle.

 
PORTFOLIO UPDATES

Foyr ushers in new leadership as it expands into North America

Foyr has brought onboard Richard Tartiy as President, North America, to expand its presence in the US market. Rich brings substantial and relevant industry experience and has built several mature technology businesses.

 

eureQa doubles the speed of making updates to an iconic retailer’s eCommerce storefront

eureQa, an AI powered automation platform for testing eCommerce apps and enterprise SaaS implementations, has had another highly successful deployment. Using eureQa, The Vermont Country Store was able to increase their test coverage to 95% of the browsers, while simultaneously speeding up their testing by 2x.

 

Health expenditure is a problem for Indians. LetsMD is using tech to solve it

Currently, borrowing options for healthcare expenditures are limited to personal loans, with interest rates as high as 12%. LetsMD offers healthcare loans starting from as low as 0%. The company has partnered with likes of Fortis, Max Healthcare etc. covering all types of surgeries and procedures.

 

SoftWear is helping drive textile industry comeback in US

SoftWear is on track to churn out more than 1 million T-shirts annually, all made in US & untouched by human hands. These machines, called Sewbots, can compete with low-cost foreign labour and remove the biggest incentive to setup factories in countries like China.

 

How to combat fake reviews and counterfeit goods

Saoud, CEO of our portfolio company Fakespot, published a how-to guide on combatting fake reviews and counterfeit goods. A recent Fakespot report found that ~52% of reviews on Walmart were inauthentic and unreliable. The corresponding number for Amazon was 30%. Amazon also faces the issue of counterfeit goods as ~50% of the products sold through Amazon are by 3rd party sellers.

 
INDUSTRY UPDATE

The Asian century will begin next year

In 2020, for the first time since the 19th century, Asian economies will be larger than the rest of the world combined. To put this in perspective, Asia was just 1/3rd of the world’s output in 2000. This shift is not just because of China and India. Other fast-growing economies, including Indonesia, Thailand, Bangladesh and Vietnam are also contributing to this shift.

 

India’s entertainment industry is attracting global giants

Last year, Gaana, India’s largest music streaming platform, raised $ 115 mn from Tencent and seemed to have cemented its position as the leader in this segment. However, other global companies are entering Indian markets including Facebook, YouTube Music and Spotify. India has 560 mn internet users which is projected to increase to 850 mn by 2025 and their consumption habits will impact how media startups succeed.

 

A look at startups working on AI for healthcare in India

For a country with 1.3 bn people, India produces only 50,000 new doctors every year. To achieve WHO’s recommended doctor to patient ratio of 1:1,000, India will need 2.3 mn doctors by 2030, up from 600,000 today. AI is going to play a major role as a middle layer connecting patients and doctors and reducing the workload on doctors.

 

Fintech startups are paving way for a financially smart India

According to a recent report, India has the 2nd largest number of fintech startup, just after US. India has added 1,300 fintech startup in 2015-2018 period, on a base of 730 startups. These includes startups across multiple sectors like payment, lending, insurance, personal finance management etc. Shubh Loans, our portfolio company, was also mentioned in the report

 

Battle for the last unconquered screen

Auto industry and Silicon Valley are locked in a battle for control of one of the last unconquered screens: our car dashboard display. At stake are billions of dollars in revenue from ads and services as well as the balance of power between two big industries.

 
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