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NEWSLETTER - Q3, 2021
PORTFOLIO UPDATES
 
 

Food delivery firm Zomato surges 65% in key India debut

Shares in Zomato, a Gurgaon-based food delivery company and first of India’s consumer tech startups to go public, closed up 65% in its debut day of trading in Mumbai, delivering a key insight into the appetite investors have for the world’s second largest internet market’s burgeoning startup ecosystem. Zomato’s shares traded all day above the issue price of 76 Indian rupees ($1) and surged as high as 138.9 Indian rupees ($1.87). The startup’s $1.3 billion initial public offering was subscribed 40 times.

 
 
 
 

Blaize closes $71 million Series D financing

Blaize, an AI computing and automotive computing solutions provider, closed a $71 million Series D funding round with Franklin Templeton, a new investor, and Temasek, an existing investor, leading the round, along with participation from DENSO and other investors. To accelerate the product roadmap and scale the business with this funding, the company plans to expand its Hyderabad operations in the next 12-18 months.

 

The funding will support acceleration of the product roadmap to meet growing demand for higher performance, lower power, lower cost AI hardware and transformational AI software solutions in automotive, smart retail, smart city and industrial markets.

 
 
 

Fitness start-up HealthifyMe raises $75 million in fresh funding

AI-led health and fitness app HealthifyMe has raised a fresh $75 million in funding led by LeapFrog and Khosla Ventures. The investment which is part of the company’s Series C financial round also saw participation from HealthQuad, Unilever Ventures, and Elm (Saudi Arabia PIF entity) along with existing investors Chiratae Ventures, Inventus Capital and Sistema Asia Capital. The Bengaluru-based startup’s total fund count now stands at over $100 million. The company will deploy the bulk of the capital to fund expansion in India and Southeast Asia, foray into North America and make relevant acquisitions in the digital health and fitness space. Besides, a portion of the funds will be used to invest behind its AI-powered HealthifySmart plans and hire new talent across functions.

OPD care provider Meddo acquires Doxper in a cash and stock deal

Meddo, a major physical-digital smart outpatient care platform, announced its acquisition of Doxper in a cash and stock deal. Doxper is a prominent leader in the prescription digitisation space, with a strong client base of over 4,000 doctors, and lists eminent stakeholders like Manipal Hospitals, Nanavati Max Hospital, BLK Max, KIMS Hospitals, Wockhardt, CK Birla, Cloudnine and many more as part of its roster. With this acquisition, Meddo claims it would become one of the largest health-tech players in the country in the outpatient care space with more than 1.5 crore digitised prescriptions and over 1 crore patients, further adding another 3-4 lakh patients every month, a statement said.

 

Dr. Sashi Reddi appointed as Chairman of IndianMoney.com

SRI Capital’s founder and managing partner Dr. Sashi Reddi has been appointed as the Chairman of IndianMoney.com effective September 2021. IndianMoney.com is India’s leading provider of financial and livelihood education, with over 3 million active users. Dr. Sashi Reddi, Chairman, IndianMoney said, “IndianMoney.com provides a service that is just not available anywhere in India or even much of the world. We teach people how to increase their livelihood by showing them how to build businesses in various domains like goat farming, floriculture, baking, etc. These are the skills and the knowledge that people need in order to thrive in a developing economy. It gives me enormous joy to join a company that is focused on building a stronger Bharat and working with a visionary entrepreneur like Sudheer.”

 
 
 
 

Zuppler announces general availability of AI-powered marketing services on the Menu Anywhere platform

Zuppler, a global software and services company focused on empowering solutions for the food services industry, announced the general availability of its AI-powered marketing services as part of the Menu Anywhere online ordering platform. Smart Upsell is an AI-based tool that generates real-time recommendations based on what customers have added to their online cart. It also allows restaurants to upsell specific items, which can be especially useful for the introduction of new menu items to customers.

 
 
 
 

YuppTV launches the top premier streaming platform SonyLIV across International markets

YuppTV, the world’s leading OTT platform for South Asian content, has launched SonyLIV in UK, Australia, Canada, New Zealand, Middle East, and Europe on 1st July. Through this platform, viewers will be able to watch a wide range of entertainment content in multiple native languages, blockbuster originals, TV shows and movies in various genres.

 

Mr. Manish Aggarwal, Head – Growth and Monetization, Digital Business, SonyLIV, said, “We are excited to extend our presence overseas and offer a plethora of enriching and diverse content to a wider set of audience with YuppTV. It is a pleasure to come together and be able to continue transforming the face of Indian entertainment globally. This collaboration will help us make our content easily accessible and ensure a seamless experience for our viewers.”.

 
 
 
 

Why Robots can’t sew your T-shirt

“We want to make a billion T-shirts a year in the US, all made on demand,” says SoftWear CEO Palaniswamy Rajan. Softwear Automation is a robotics company that wants to make T-shirts. It calls its robotic systems Sewbots. They are basically elaborate work tables that pair sewing machines with complex sensors. The company zealously guards the details of how they work, but here are the basics: Fabric is cut into pieces that will become parts of the shirt: the front, the back, and the sleeves. Those pieces are loaded into a work line where, instead of a person pushing the fabric through a sewing machine, a complicated vacuum system stretches and moves the material. Cameras track the threads in each panel, allowing the system to make adjustments while the garment is being constructed. Rajan says a Sewbot work line can make a T-shirt every 50 seconds.

 
 
 
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