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The Venture Codex

DevX Innovation

C-201, 2nd Floor, The First, B/h Keshav Baugh Party Plot, Nr. Shivalik High-Street, Ahmedabad, Gujarat, 380015, India

Overview

DevX manages a co-working cum Accelerator. It intends to invest in businesses, healthcare, artificial intelligence and machine learning, the internet of things, cloud tech and devops, e-commerce, fintech, mobility tech, micro mobility, B2B payments, and SaaS startups.

Total investments
3
Lead investments
2
Investments · 12mo
0
Active investors
4

Sector focus

  • Consulting
  • DevOps
  • Innovation Management
  • Interior Design
  • Real Estate
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Investment portfolio

  • Finsire

    Led · Seed · Mar 2023

    Finsire builds lending-infrastructure software that digitizes the rails needed to collateralize a wide range of assets and enable credit against digital and income-generating assets. The platform integrates with financial institutions, fintechs, asset-holding brokers and distribution partners to originate and service collateralized loans. Finsire's product aims to expand the set of pledgeable assets and simplify pledging so lenders can underwrite more loans with lower risk. The company positions its technology to help lenders eliminate NPAs and earn a risk-reduced return while passing lower interest rates to end users. Finsire was founded in 2021 by Mridul Manhas, Shreyans Nahar and Subramaniam Chintamani and is incorporated as Finsire Technologies Private Limited. The team is building digitized secured infrastructure to increase lending against household and other assets held offline and online.

  • Sublime Life

    Led · Equity · Feb 2022

    GrowFitter is a machine-learning technology startup building solutions for the health, wellness and fitness industry. Launched in 2015 by Sanmati Pande and Harshit Sethy, the platform positions itself to improve the "health quotient" of India through tech-driven offerings. The company plans to use fresh capital to expand its technology stack and deliver more user-immersive experiences while growing membership and users. GrowFitter also aims to widen and deepen interactions with the health, wellness and fitness industries and to provide incentive premium pricing for health insurance. The startup is planning to venture into supporting the wearables market as part of its product expansion. Harshit Sethy is cited as Founder and CTO in the announcement.

  • Supplynote

    Participated · Series A · Oct 2021

    Adcount Technologies operates SupplyNote with three business verticals: a SaaS inventory‑management product for large restaurants, fulfillment services, and a marketplace (Vyap) for small restaurants. Founded in 2019, the company serves roughly 5,000 outlets across 86 cities and manages goods and procurement across its verticals. Its SaaS vertical facilitates about $100M in annual purchases in India; Vyap enables approximately $2.25M in procurement in Noida and Greater Noida, and SupplyLink manages $5M in goods across 42 cities. The company aims to expand to 30,000 F&B outlets globally by the end of fiscal 2025 and targets facilitating $1.2B in purchases, achieving $25M ARR for Vyap, and distributing $150M through SupplyLink. Adcount has raised a total of $5M to date, including the recent $2.25M Series A. The latest funding will be used to support initial international expansion focused on the MENA region and Southeast Asia. SupplyNote (Adcount Technologies Private Limited) offers a combined SaaS and e-commerce stack to solve procurement for restaurants and other HoReCa businesses. Its platform helps restaurants understand purchasing trends, plan production, anticipate stock-outs, set low-stock alerts and auto-create purchase orders. The product’s USP is simplifying how restaurants order from vendors and enabling faster, simpler communication with vendors on the platform. SupplyNote reported 800% growth during FY20–21 and is present in 41 cities across 3 countries. The company intends to use new funding to hire, upgrade its technology stack, scale its HoReCa marketplace, extend credit options via partners, enable easier transactions between restaurants and suppliers, and reinforce its fulfillment service. It is also pursuing strategic partnerships with POS, payments and loyalty companies. Supplynote operates a supply chain automation platform focused on digitising supply chains in the food & beverage industry. The company is described as the second platform launched by parent company Adcount Technologies in the direction of supply-chain digitisation. It is headquartered in Noida. In October 2020 Supplynote completed a $600,000 bridge financing. The round included participation from strategic and angel investors, and was led by SOSV and Artesian Ventures. The article does not disclose operating metrics, valuation, or specific use of proceeds.

Team