The Venture Codex

Participated · Equity · Nov 2024

Zepto operates a quick-commerce platform focused on ultra-fast delivery of groceries and daily essentials. Over two years the company reported revenue growth from ₹4,544 crore to ₹23,128 crore and a near fourfold increase in users. Despite rapid top-line growth, coverage highlights unit economics challenges, with reported per-order losses of about ₹79. The company had been preparing for a higher valuation (around $7 billion) before public-market comparables exerted downward pressure. Zepto's immediate financial and strategic focus, as reflected in reporting, includes shoring up domestic shareholding and addressing profitability metrics amid increasing scrutiny of quick-commerce economics.

Participated · Seed · Jun 2023

Zippee is a Gurgaon-based same-day delivery and e-commerce fulfillment startup founded in 2021 (formerly ZFW Dark Stores). It operates a dark-store network that enables D2C brands to offer Amazon-like same-day deliveries from their own websites. Brands across F&B, beauty and personal care, wellness, and pet care — including The Face Shop, Epigamia, Clinikally, Power Gummies, Anveshan, SEPOY&CO, and Haagen-Dazs — use its platform. The company currently has dark-store operations across all major metros and plans to expand same-day deliveries to 15 cities. It aims to democratize Amazon-grade logistics for 100,000 e-commerce brands by 2025 and will use new capital to scale hiring and strengthen its technology platform.

Participated · Series A · Oct 2021

Basic Home Loan operates a technology platform that simplifies and automates the home‑loan application process for middle‑ and low‑income households in India. The product reduces paperwork and speeds up approvals to make mortgages more accessible to underserved borrowers. The company positions itself as a niche solution in a market where traditional banks often overlook higher‑risk, lower‑income customers. Basic Home Loan plans to use recent funding to enhance its technology and expand its geographic and customer reach. The startup emphasizes both financial returns and social impact by enabling more families to access homeownership. It faces competitive pressure from other fintechs and must navigate regulatory and compliance challenges as it scales. Basic Home Loan is an online brokerage platform for mortgages that aims to make home loans accessible to low- and middle-income households in tier II and tier III cities. The platform connects customers to financing through a network of 7,500 agents and 70 financing partners. The company plans to use the new funding to expand into new geographies and to develop a lending vertical. Management says the funds will enable creation of products for un- and underserved segments. Basic Home Loan was founded in 2020 by Atul Monga and Kalyan Josyula and is based in Gurugram. It reached EBITDA profitability in March 2023 and has cumulatively raised $8.7 million since inception. BASIC Home Loan develops a digital platform to automate home loans for middle- and low-income households, using a phygital distribution approach. The startup has built distribution in affordable-housing hotspots across 15 cities within its first 12 months. It claims to have disbursed Rs 400 crore of loans in that period and has more than 25 bank partners on board. Nearly 25% of loans it disburses are linked to Pradhan Mantri Aawas Yojna applications and 30% are for new housing construction. The company aims to disburse over Rs 6,000 crore of home loans in the next 18 months and to hit a monthly loan disbursal run rate of Rs 200 crore by March 2022. It plans to expand to 40+ cities and hire more than 300 people while further digitizing credit processes.