Led · Equity · Jun 2024

Smartworks operates a managed flexible-workspace platform with a portfolio of enterprise-focused centres and a client base of roughly 550 corporate customers, including Google, Accenture, Persistent Systems and Samsung. As of March 31, 2024, it has a presence in 13 cities with 41 centres spanning about 8 million sq ft. The company plans to add 3–4 million sq ft of flexible office space annually to meet rising demand from domestic and foreign firms. Promoters continue to hold majority shareholding, and Singapore-based Keppel Ltd. has been a longstanding investor, having invested about USD 29 million since 2019. Management says capital from the latest fundraising will be used for growth, expansion and general corporate expenses. Smartworks may consider going public after it reaches its target of acquiring 30 million sq ft of office space. Smartworks is a managed workspace and shared-office provider that operates and leases operated workspaces. Founded by Neetish Sarda and Harsh Binani in April 2016 and based in Gurugram, the company says it has expanded to over 8 million square feet across more than 40 locations in 14 cities. It claims to serve over 600 organisations, including Forbes 2000 and Fortune 500 companies and global multinationals. Smartworks reported revenue from operations of Rs 711 crore in FY23, up 97.5% from Rs 360 crore in FY22. Its losses widened to Rs 101 crore in FY23 from Rs 70 crore in FY22, showing increased scale but continued unprofitability. The company has raised prior capital from Keppel, including a $25 million Series A in 2019 and an approximately $4 million round reported from Singapore’s Keppel.

Participated · Series A · Feb 2023

Therma provides a cooling intelligence platform that uses artificial intelligence, IoT sensors, and equipment controls to reduce energy usage, prevent food waste, and lower carbon emissions. The company is headquartered in San Francisco, CA, and is led by CEO and founder Manik Suri. Therma is deployed with over a thousand customers across restaurants, hospitality, education, and food manufacturing, including McDonald’s, Domino’s, Marriott Hotels and NOW Foods. The company raised $19M in a Series A funding round. The round was led by Zero Infinity Partners with participation from Deciens Capital, CityRock Venture Partners, Homecoming Capital, Ananta Capital, Kindergarten Ventures, Collaborative Fund, and Govtech Fund. Therma intends to use the funds to expand operations and its business reach. Therma builds IoT-powered temperature monitoring and analytics solutions designed to prevent food, product, and energy waste. The company serves the food, restaurant, healthcare, hospitality, and manufacturing industries and has partnered with national restaurant brands and supply chain leaders in food and healthcare. Led by founder and CEO Manik Suri, Therma emphasizes linking sustainability and profitability through its technology and community efforts. Therma is the creator of Point 01, a climate-oriented community-building initiative that brings together entrepreneurs, investors, scientists, and engineers. The company closed a $10.2M funding round and intends to use the proceeds to continue expanding operations and its business reach.

Led · Series A · Sep 2021

Glamyo Health operates an asset-light platform focused on elective surgeries, using technology to deliver personalized patient care. The company was started at the end of 2019 and is headquartered in Chennai. It currently has presence in 10 cities, including Mumbai, Bengaluru, Hyderabad, Pune and Tier‑2 cities such as Indore, Bhubaneswar, Chandigarh and Patna, and plans to scale to 20+ cities. Management reports strong operational growth: a 300% surge in business over the last three quarters, a 3x increase in number of cities in the past three months, and a monthly CAGR of ~35% over the last 18 months. Investors and company comments also cite 40%+ month-on-month growth. Total capital raised to date is $3.5 million, including the most recent round. Glamyo Health operates a hybrid surgical-care platform that provides laser treatments across orthopedics, proctology, urology and laparoscopic cases. The company says it operates across more than 10 surgical categories and offers over 50 individual treatments. It combines its own clinics with third‑party hospital infrastructure to facilitate surgeries. Glamyo has a presence in more than 10 cities and plans to scale to over 20 cities by the end of FY23. Co‑founded by Archit Garg and Preet Pal Thakur, the three‑year‑old, Delhi‑based company positions itself against competitors such as Pristyn Care. The company intends to use fresh funds to generate long‑term resources for implementing its growth plans.

Led · Series B · Aug 2021

Pickrr provides an end-to-end, plug-and-play logistics solution that helps e-commerce sellers and D2C brands ship products across India and internationally. The platform offers one-click integrations with partners such as Amazon, Shopify, and WooCommerce and aggregates courier selection, pricing, and data analytics. Pickrr reports about 25 delivery partners on board and capability to ship to 29,000+ PIN codes and 220 global destinations. The company plans to continue product development and R&D and to expand its network of fulfillment centers across the country. Its services target SMBs, marketplace sellers, retailers, and D2C brands to improve delivery performance and inventory management. Pickrr Technologies is a Delhi-based, end-to-end plug-n-play logistics solution founded in 2015 that serves e-commerce sellers and D2C brands across India. Its core product is a logistics platform that routes shipments to courier partners using CALCULA, a machine-learning algorithm with 20+ proprietary logistics features that recommends couriers to improve delivery performance. The company says it will use new capital to continue market expansion and product development. Pickrr claims coverage of 26,000 pin-codes and handles 1.5 million shipments per month. The platform targets sellers and D2C brands that want to ship anything anywhere in India, emphasizing reduced delivery time and lower operational hassle. Founders named in the article are Rhitiman Majumder, Gaurav Mangla, and Ankit Kaushik.

Led · Equity · Jul 2021

Bella Vita Organic is a direct-to-consumer personal-care brand run by Gurugram-based Idam Natural Wellness Pvt Ltd that sells handcrafted organic face, body and hair products. Founded in 2018 by Aakash Anand, the company offers over 55 products including fragrances and essential oils and plans to launch Ayurveda-enriched make-up. Its products are sold on marketplaces such as Amazon, Nykaa, Flipkart and Purplle as well as via the brand’s app and website. The company reports being profitable since inception and says it is on track to surpass a Rs 100 crore annualized revenue run rate. Bella Vita positions itself on natural, organic and eco-friendly formulations inspired by traditional Indian herbs and modern technology. Management says the new funding will be used to scale the brand and expand product offerings.