Led · Equity · Apr 2024

Founded in 2019, PharmEasy runs a web and mobile marketplace for prescription drugs, diagnostic services, and tele-health consultations in India. The company grew rapidly through the 2021 acquisition of Thyrocare but has since grappled with heavy leverage, prompting multiple high-cost debt raises. For FY25, it reported flat revenue of Rs 5,872 crore while trimming its net loss 38 % to Rs 1,572 crore, reflecting modest operational improvement. Leadership has shifted as all co-founders have exited and Rahul Guha, previously MD & CEO of Thyrocare, now heads PharmEasy. A steep 90 % valuation cut to about $710 million in April 2024 underscored investor concerns after its $5.6 billion peak in 2021. The company continues to prioritize debt repayment, most recently raising fresh capital to retire an expensive Goldman Sachs loan. Its future plans appear focused on stabilizing the balance sheet while maintaining its core e-pharmacy and diagnostics offerings.

Led · Series A · Mar 2024

Brij Hotels operates a portfolio of eight boutique hotels at popular tourist destinations and emphasizes sustainability through a zero-kilometre concept. The group was founded in 1991 by Udit and Anant Kumar and is Delhi-based. Brij focuses on delivering hyperlocal experiences while minimizing environmental impact. It operates an asset-light business model, working with property owners under revenue-sharing arrangements. The company intends to use new funding for strategic expansion and to strengthen its position in the hospitality sector. The recent fundraise indicates active investor interest as Brij pursues growth.

Led · Seed · Dec 2019

Rein Games is a Noida-based startup focused on creating original, concept-based real-money, skill-based games for serious gamers. Its platform charges a platform fee and uses an analytics-focused, real-time money-flow system to boost engagement, redirect benefits to fading users, and curb fraud. The company says it will build one high-quality game at a time and innovate around each title before moving to the next. It will use the recent funding to streamline product development, acquire more users, and strengthen its team. Rein Games was founded by Vaibhav Gupta, Himanshu Devra, Pranav Chaudhary, and Nishtha Gupta and currently has a core team of 12 niche professionals. Market context: AIGF pegs India’s online real-money, skill-based gaming market at Rs 2,000 crore, expected to grow 3.5x by 2025.

Led · Equity · Mar 2018

Wellthy Therapeutics, founded in 2015, offers a mobile app that lets users log meals and monitor blood sugar over time to manage type 2 diabetes. The app is available on Android and iOS and supports multiple Indian languages. The company says it uses clinically validated behavioural interventions to help users change habits and reduce chronic disease risk. For now it solely focuses on diabetes management and cites competitors including Glooko, Holmusk and mySugr. Financially, revenue from operations rose to Rs 89.73 lakh in FY19 from Rs 8.56 lakh in FY18, while total expenditure increased to Rs 9.84 crore and net losses were Rs 8.69 crore. Wellthy Therapeutics develops an AI-based mobile app that acts as a personal health coach for type 2 diabetes patients, using clinical data and habit tracking to deliver motivational, personalized advice. The app lets users log meals, monitor blood sugar over time, track medications, and interact with Carey, the company’s chatbot, and includes gamification such as badges. The company operates on a B2B2C revenue model, working with medical insurers, clinics, and the pharma industry, and plans to build deeper integrations with industry stakeholders in Asia and expand its team. Wellthy will use the fresh proceeds to enhance existing infrastructure and to develop solutions for other disease areas. The startup has endorsements from organizations including the Research Society for Studying Diabetes in India and competes in a similar space to players like CureFit and HealthifyMe. The company was initially self-funded by founder Abhishek Shah (around Rs 2.9 crore) and previously received an undisclosed investment from GrowX Ventures in December 2017.

Participated · Equity · Apr 2013

Counsyl develops genetic screening products and services for women and their families, including expanded carrier screening, non-invasive prenatal screening, and hereditary cancer screening. The company operates a CLIA-certified clinical laboratory that it describes as highly automated and engineered for efficiency, rapid turnaround, and reduced costs. Counsyl says its products provide actionable information to guide reproductive and cancer risk decisions and aims to make these screens routine in clinical care. Since inception it has screened more than 850,000 patients, served over 17,000 healthcare providers, and delivered more than 60,000 genetic counseling sessions. The company announced new financing to support continued growth and product adoption. Counsyl positions itself as a long-term leader in women’s health screening services. Counsyl provides a platform that gives people access to information about their bodies and returns health information in two weeks or less. It uses custom-built robots to process blood and saliva samples alongside a team of scientists and engineers to simultaneously analyze thousands of DNA samples with precision and efficiency. The company has launched an Inherited Cancer Screen starting with BRCA1 and BRCA2 and is advancing its Family Prep Screen for couples planning to start a family. Counsyl has also announced Counsyl Complete, a platform for online communication of results between physicians and patients. The company plans to use new funds to continue investing in product development. Counsyl is led by co-founders Ramji Srinivasan (CEO) and Rishi Kacker (co‑founder and VP of engineering) and is based in South San Francisco, California. Counsyl provides low-cost carrier screening and sequencing products for prospective parents, testing for more than 400 mutations and 100+ genetic disorders with prices like $599 (or $99 with insurance) and a $999 sequencing option for ~10,000 mutations. The company handles carrier screening for roughly 2.5% of U.S. births and processes about a half‑terabyte of genomic data per day (projected to be ~5 TB/day if they did full genomes for the same customers). Counsyl has built a full-stack operation—owning lab infrastructure, custom wetware, robotics, image-processing software, billing systems, and an iPad ordering app—to cut inefficiencies across the testing workflow. That operational control enables scale and lower costs versus traditional providers and supports faster throughput and reduced error rates. Going forward the company is focused on interpretation and curation of genomic data, creating rule sets to interpret mutations at scale and expanding deeply into the carrier‑screening market while building a mainstream consumer brand.