Participated · Series D · Jul 2022

SOURCE Global develops and sells SOURCE® Hydropanels, a solar-powered, air-to-water technology that creates mineralized drinking water from sunlight and ambient air. The Hydropanel system is programmable, distributed, infrastructure-free, and fully digitized, operating off-grid with built-in sensors and cloud-based 24-hour monitoring. Panels scale from small arrays to multi-thousand-panel water farms serving communities, businesses, and sustainable bottling operations, and function in a variety of climates including low-humidity locations. SOURCE says its technology addresses large unmet need for climate-resilient, sustainable drinking water and aims to reduce the impacts of extracting, treating, bottling, and transporting water. The company operates in more than 50 countries and is a public benefit corporation headquartered in Scottsdale, Arizona. SOURCE plans to further scale its commercial, community, and consumer offerings globally and to accelerate innovation in advanced renewable water technologies. Zero Mass Water develops SOURCE Hydropanels that create safe, mineralized drinking water from sunlight and atmospheric moisture. The solar-powered panels ozonate and store purified water and can be deployed in arrays from single-residence to community-scale installations. SOURCE systems are already installed in 45 countries. The company plans to scale global installations and launch direct-to-consumer initiatives, including residential panel installations beyond North America. The recent financing will be used to accelerate innovation and advanced renewable water technologies. Zero Mass Water is headquartered in Scottsdale, Arizona.

Participated · Seed · Nov 2021

Runway offers a workflow orchestration platform purpose-built for managing mobile app releases, integrating with tools such as GitHub, JIRA, Trello, Bitrise, CircleCI, Slack and dozens more. The system automates tasks, surfaces real-time status, and coordinates engineers, product managers, QA, design and marketing teams, replacing ad-hoc spreadsheets and Slack threads. Since entering beta this spring, early adopters including ClassPass, Kickstarter and NTWRK have collectively executed more than 700 releases through the product, and the customer base has grown ten-fold to feature Gusto, Brex, Chick-fil-A and other enterprise brands. Runway charges $400 per app per month for its standard tier while offering custom enterprise pricing, and it is SOC 2 certified. Recent feature additions span automated phased-release controls, approvals workflows, changelog generation, hotfix support and granular roles and permissions. The company is enhancing onboarding to speed customer setup and is planning a lower-priced option for indie development teams. Proceeds from its new funding will expand the team with multiple full-stack engineers and a dedicated growth and marketing hire.

Participated · Series C · Sep 2021

Leap operates a full-stack international student mobility platform (LeapScholar, LeapFinance, and Yocket) that provides international test prep, admissions and visa counselling, and financial products such as student loans, international bank accounts, credit cards, and remittance services. The company has partnered with over 750 global universities and earlier this year expanded its presence into West Asia. Leap says its study-abroad community comprises nearly two million students, with over 60,000 Indian students using its products to move abroad last year and a target of 175,000 this year. Financially, Leap has garnered over $50 million in revenue, with 95% of revenue coming from the India market, and reports 400% revenue growth in the last 12 months. The startup plans to deploy new proceeds to expand its global footprint, specifically eyeing expansion into the UAE and Africa. Leap is operated by Leap Finance Inc and was founded in 2019 by Vaibhav Singh and Arnav Kumar. Leap operates at the intersection of edtech and fintech, offering a one-stop platform for Indian students to find colleges abroad, prepare for entrance tests, secure visas, and access loans and internships. The company underwrites loans by evaluating alternative and derived data generated in India to offer fairer interest rates to students who lack local credit history abroad. Leap has built a community of over 1 million students and says it has helped more than 60,000 students in their study-abroad journeys over the last 18 months, adding roughly 100,000 students each month. Its test-preparation app and core financial services have shown notable growth, and the company reported its strongest fall season. Leap is headquartered in San Francisco and Bangalore and is two years old. With the new funding, the startup plans to expand into the Middle East and Southeast Asia and support students pursuing higher education in 20 countries. Leap Finance grants loans to Indian students at fairer interest rates by evaluating alternative and derived data generated in India, addressing the lack of local credit history abroad. The company has expanded beyond lending to provide admissions guidance, visa support, test preparation and counseling through its Leap Scholar offering. It has built a social network of over half a million students who use the platform to discuss colleges and applications. Leap currently helps students join schools in the U.S., Canada, the U.K. and Australia and says it aims to serve 150,000 students this year. The two-year-old startup is headquartered in San Francisco and Bangalore and plans to deploy fresh capital to expand its tech team and reach more geographies. To date the company has raised $22.5 million. Leap Finance offers education and personal loans to Indian students studying abroad by underwriting credit using alternative and derived data points to assess future income. The company delivers loans at roughly 8–10% interest, compared with rates above 13% that many Indian students in the U.S. face. It began disbursing loans in recent weeks and says more than 100 students are already benefiting. Leap employs more than two dozen people and is hiring for technology roles. The startup plans to expand beyond the U.S. to serve Indian students in Canada, the U.K., and Indonesia, and eventually offer a broader set of financial services and operate as a neobank.

Participated · Equity · Jun 2021

Fintoc offers a B2B API that enables online businesses to accept instant accounts-to-accounts (A2A) payments directly from customers' bank accounts. A2A reduces intermediaries and transaction fees versus credit cards while providing a frictionless user flow where customers pick their bank and securely provide credentials. The product is used for frequent cases such as topping up public-transport cards, e-commerce purchases, bill payments and paying credit installments. In 2023, 1,807,000 people paid products, services and bills using Fintoc (about 13% of Chile's population), and Fintoc reports more than 1.2 million monthly users in Chile. The company faces local competitors like ETpay and Khipu but is expanding beyond Chile, having entered Mexico a year ago and planning to make Mexico its main market over the next two years. Fintoc is a Y Combinator alum, has a 48-person team (five based in Mexico), and plans to leverage closer access to payment rails to improve experience and eventually offer a viable alternative to debit and credit cards. Fintoc is a Chilean fintech founded in 2020 that offers a developer-facing platform to initiate bank transfers and pull transactional data from users' bank accounts. Its API is positioned to streamline bank onboarding, subscription flows and automated reconciliation between banks and applications. Co-founder Cristóbal Griffero says the service allows users to transfer their full financial history to lenders to improve credit evaluation and potentially lower interest rates in seconds, online and with automatic updates. The company was previously accelerated by Y Combinator. Fintoc has raised $3.1M in the announced round and plans to use the capital to strengthen its executive team and expand across Latin America. The startup aims to open offices in Mexico in September and is already closing initial contracts there.

Led · Series E · May 2021

Moglix operates a B2B marketplace and procurement platform for manufacturing goods, offering items from pumps and fans to routers and pulse oximeters. The company serves 500,000 small, medium-sized businesses and enterprises and has established over 3,000 manufacturing plants across India, Singapore, the U.K. and the UAE. Moglix runs a supply chain network of 16,000 suppliers, operates more than 40 warehouses and logistics infrastructure, and lists close to 700,000+ SKUs on its platform. It counts customers including Hero MotoCorp, Vedanta, Tata Steel, Unilever, Air India and NTPC and claims to be the largest e-commerce platform of industrial goods in India. The company says it will continue to invest in building technology and supply chain capabilities, and will increasingly focus on supply chain financing, acquisition of partners and global expansion. Moglix was founded by Rahul Garg and is described in the article as a seven-year-old, India-based startup. Moglix operates an e-commerce marketplace focused on industrial goods and a logistics/supply‑chain network for manufacturing customers. The platform lists close to 500,000 SKUs and runs a supplier network of about 16,000 vendors, more than 35 warehouses, and logistics infrastructure. It serves over 500,000 small and medium businesses and enterprises and has established 3,000 manufacturing plants across India, Singapore, the UK and the UAE. Moglix counts large customers including Hero MotoCorp, Vedanta, Tata Steel, Unilever, Air India and NTPC. The company says it is the largest e-commerce platform of industrial goods in India and cites strong customer and revenue retention as a competitive advantage. Leadership frames the financing as enabling the next stage of growth and advancing a mission to help create a $1 trillion manufacturing economy in India. Moglix is described as India’s largest and fastest-growing B2B commerce company, focused on transforming procurement and indirect supply chains. The company is building a direct-to-enterprise distribution model while simultaneously developing physical logistics infrastructure. Management emphasizes technology innovation, analytics, and owning a wide logistics network as core product and service areas. Founder & CEO Rahul Garg says Moglix is growing 300% year-over-year. The company plans to use the new funds to fuel expansion and to optimize efficiencies across technology, analytics, and logistics. The article frames Moglix as a leader in modern, technology-enabled B2B commerce amid GST-driven change in Indian business. Moglix operates an e-commerce platform that connects manufacturing OEMs and their resellers with business buyers and offers a SaaS procurement service to digitize B2B purchasing. The company emphasizes the value of digital commerce data, improved distribution and tighter fraud prevention for brands and resellers. Founded in 2015 by former Googler Rahul Garg, Moglix has grown to 10 centers in India, more than 5,000 suppliers and conducts roughly 90% of its transactions domestically. It has raised about $41M to date, including a $12M Series B last year and a $23M Series C, while keeping headcount under 500. Moglix plans to use the latest capital to deepen its India presence, seed international expansion ahead of a larger round next year, and scale its SaaS procurement product from eight countries toward a target of 100 markets. Management says the move toward transactional B2B commerce and recent policy shifts like GST have accelerated adoption; the company estimates it holds roughly 0.5% share of its manufacturing niche with ambitions to reach double-digit percentages. Launched in 2015 as an online store for tools and construction supplies, Moglix has expanded into enterprise software with products like GreenGST to help manufacturers comply with India’s new tax codes. The Noida-headquartered company operates an industrial e-commerce marketplace while developing supply-chain management technology. GreenGST, launched last month, helps manufacturers track filing deadlines and ensures vendors in their supply chain are GST-compliant. Moglix plans to use new funding to further develop its supply-chain platform and to expand operations into additional manufacturing hubs and three new cities. The company cites a $300 billion manufacturing industry in India where only 2–3% of manufacturers currently use software, pointing to a large opportunity accelerated by GST and cashless policies. Financially, the latest round brings Moglix’s total capital raised to $18 million, and the company counts industrialist Ratan Tata as a backer.