Participated · Series B · Aug 2026

Founded in 2017 by Sunil Patel and Netaji Patro and based in Pune, Matel designs and manufactures energy-efficient motors, motor controllers and integrated powertrains for automotive and industrial uses. Its products target applications including electric two-wheelers, three-wheelers, pumping and cooling systems, and it is already in series production with multiple original equipment manufacturers across two-wheeler, three-wheeler and industrial segments. The company plans to broaden its product portfolio and enter the electric commercial vehicle segment. Matel intends to scale manufacturing capacity, strengthen R&D, accelerate product development and expand engineering and production teams as part of its growth plans. Leadership brings sector experience—Patel led the Chetak EV development programme at Bajaj Auto and Patro held R&D roles at Maruti Suzuki and Bajaj Auto.

Participated · Equity · Oct 2023

Aequs is a diversified contract manufacturing company that began in the aerospace segment and has since expanded into consumer electronics, plastics, and cookware/small home appliances. Its customer roster includes major aerospace OEMs such as Airbus, Boeing, Bombardier, Collins Aerospace, Spirit AeroSystems, Safran, GKN Aerospace, and Honeywell, alongside consumer-sector clients like Hasbro, Spinmaster, Wonderchef, and Tramontina. The firm operates three manufacturing clusters in Karnataka (Belagavi, Hubballi, and Koppal) as well as additional plants in France and the USA. Founded by Aravind Melligeri (co-founder of QuEST Global Engineering), Aequs is backed by Amicus Capital, Amansa Capital, Steadview Capital, Catamaran, and Sparta Group. Ahead of its planned IPO, the company executed a ₹144 crore pre-IPO placement that values the new shares at ₹123.97 apiece and represents 1.88 % of equity. IPO proceeds are earmarked for debt repayment, machinery purchases for Aequs and subsidiary AeroStructures Manufacturing India, and growth initiatives including acquisitions. The IPO draft papers originally targeted a ₹720 crore fresh issue, but this has been trimmed to about ₹576 crore after the pre-IPO raise.

Participated · Series A · Mar 2022

Loco is a Bengaluru-headquartered game streaming platform. It raised $42 million (Rs 330 crore) in a Series A funding round. The round was led by South Korea’s early-stage venture fund Hashed. Makers Fund, Catamaran Ventures and Korea Investment Partners also participated in the financing. The article does not disclose additional financial metrics, past rounds, or planned uses of proceeds. Loco is a 'Made in India' live game streaming and esports platform available on Android and iOS that enables users to watch and stream games and hosts India’s top creators and esports teams. The platform features one-click mobile streaming, interactive features not typical of VOD-first services, and a creator program aimed at helping novice streamers grow. Loco has partnered with global publishers such as Activision, Ubisoft and Riot Games and run India-focused programs with brands like the NBA, Logitech and Red Bull. It reports rapid engagement growth: monthly active viewers scaled 6x, monthly active streamers 10x, and live watch hours 48x since June 2020, with highly active users spending about one hour daily on the app. The company is building in-game integrations with international partners and plans to use new capital to advance its game streaming technology and content offerings. Loco will be spun off into an independent entity from parent Pocket Aces, with founders Anirudh Pandita and Ashwin Suresh leading the business going forward.

Participated · Equity · May 2018

Acko is an online insurer whose largest revenue driver is automobile insurance; it also sells insurance for smartphones, laptops and other home electronics via Amazon India. The company has expanded into corporate health insurance and plans to launch a direct-to-consumer health product early next year. Acko will use new funding to double down on health, develop new insurance products, scale distribution, and build partnerships across the broader health economy including with hospitals. Management has said the company could offer life insurance in the future, although there are no immediate plans. The startup achieved unicorn status with a $1.1 billion valuation after the latest fundraise and has signaled a potential public listing in 2023 or 2024. Acko was founded in 2015 and counts Amazon among its investors. Acko General Insurance Ltd is an Indian insurtech startup. It announced a $60 million fresh round of funding. The round was led by Munich Re Ventures, the investment arm of Munich Reinsurance. The article does not disclose other participating investors or the financing instrument. The coverage includes no operating metrics, use of proceeds, valuation, or founding-year details. Further strategic plans or operational details were not included in the report. Acko is a digital insurer founded in 2016 by Varun Dua that offers direct-to-consumer and partner-distributed insurance products. Its product lineup includes rider insurance, mobile and appliance protection, and ticket cancellation. The company pursues a distribution strategy combining direct sales with partnerships. Acko maintains distribution arrangements with platforms including Amazon, Ola and OYO. Financially, the company has raised capital across multiple rounds and continues to fund growth through external investors. The articles do not disclose revenue or user metrics. Acko builds digital insurance products focused on drivers and transportation-related scenarios, including direct-to-consumer auto policies and microinsurance embedded with third-party services. The company reports passing 20 million customers and has insured about 200,000 cars through its direct auto product. Acko partners with ecosystem players to offer protections such as ticket cancellation, rider protection and driver protection for roughly 15 companies, including Ola, redBus, Zomato, UrbanClap and Amazon. Founder and CEO Varun Dua previously spent a decade in the insurance industry and built the aggregator Coverfox. Acko is developing an array of services beyond basic insurance sales and is working with incumbent insurers seeking better consumer distribution. The company has attracted strategic and financial backers as it scales its data-led, technology-first insurance offerings. Acko builds digital-first insurance products targeting traditional lines like automobile insurance and newer "internet economy" covers for e-commerce, ride-hailing and travel. The company has integrated claims systems with partners (notably Ola) and has covered more than 10 million Ola trips so far. Acko operates from offices in Bombay (regulator dialogue, compliance, finance, auditing) and Bangalore (product, marketing, tech) and has grown to around 100 employees with a tech team of about 40. It secured an insurance license in September and has pursued large partnerships and product integrations rather than offline distribution. Management says regulators typically take about two months to sign off on new products and that the company works closely with them. Acko plans to raise a significant funding round next year to build a war chest and execute a multi-year strategy, and is in talks with undisclosed global insurance firms for possible participation.

Participated · Series C · Apr 2018

Coverfox operates an online insurance broking portal that aggregates and sells insurance products. The firm was founded in 2013 and is Mumbai-based. It is backed by investors including Accel, SAIF Partners, Catamaran Ventures, Transamerica, IFC and Aegon. In the financial year 2018-19 the company’s losses widened even as operating revenues more than doubled for the year ended March 2018. Leadership changes include interim CEO Sanjib Kumar Jha taking over from Premanshu Singh. Coverfox has engaged in strategic discussions with potential acquirers in the past (including talks with Paytm that did not materialise). Coverfox is a digital insurance aggregator based in Mumbai that works with about 35 partners to offer 150+ insurance packages spanning health, car, bike, life and travel. Founded in 2013, the company provides an online platform and a Coverdrive Android app that equips largely offline insurance sales staff with digital-first materials. Coverdrive accounts for around one-quarter of Coverfox sales and helps the company reach long-tail customers without upfront investment. Coverfox reported four-fold revenue growth over the past year, though it did not disclose specific revenue figures. The company plans to use new capital to expand into India’s tier-two and tier-three cities, where insurance coverage is materially lower than in urban areas, and to roll out its own staff and list additional related policies. Coverfox is not yet pursuing international expansion despite inbound interest and has not decided on a model for overseas growth. Coverfox is an online insurance broker that enables users to compare and purchase motor, life and health insurance through a proprietary, algorithm-based platform integrated with more than 30 insurers and offering over 100 policies. The company operates an agent-facing app called Coverdrive to distribute policies through its network of insurance agents to point-of-sales people, and it plans to use new funding to ramp up its B2B2C segment. Operated by Glitterbug Technologies, Coverfox was founded in 2013 and is based in Mumbai. For FY2016-17 gross revenue rose to Rs 6.12 crore from Rs 2.64 crore the prior year, while net loss narrowed to Rs 31.85 crore as total expenses were controlled. Coverfox has previously raised capital from venture and strategic investors and completed a Series C in May that secured nearly Rs 49 crore ($7.6M) in two tranches. Management changed after co-founder Varun Dua left in 2016; Premanshu Singh was appointed CEO in April. Coverfox is an online insurance brokerage primarily focused on the bike and automobile segments. The firm claims those verticals account for roughly 50% of its overall revenue. For FY2016-17 the company reported premiums of approximately Rs 140–150 crore. Coverfox is owned by Glitterbug Technologies and is Mumbai-based. The fresh funding is intended to support its planned entry into the life insurance segment. It competes with platforms such as PolicyBazaar, Turtlemint, BankBazaar and EasyPolicy. The article also notes a broader Indian fintech market projection cited by the company. Coverfox is a Mumbai-based online insurance distribution and comparison platform. It operates an online insurance comparison and sales business. Narayan Murthy-led Catamaran Ventures has invested an undisclosed amount in Coverfox. Coverfox said it will use the investment to further strengthen and grow its online insurance comparison and sales business. The company intends to take on larger rival PolicyBazaar, which is backed by Azim Premji. The article does not disclose deal terms, amount, or other participating investors.