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 · Series A · Dec 2023

BatX Energies develops proprietary technologies to recover battery-grade materials from end-of-life batteries and manufacturing scrap and to refine those materials for reintegration into supply chains. The company has demonstrated its processes at commercial scale and is already manufacturing and supplying critical raw materials to the market. BatX holds four granted patents with additional patent filings underway, which it cites as a key technological differentiator. It intends to use recent funding to expand recycling and refining capacity, bolster R&D, and accelerate the development of a domestic supply chain for lithium, cobalt, nickel, graphite, and other strategic minerals. The startup emphasizes enabling circular and resilient supply chains and reducing dependence on imported resources as electric mobility and energy storage scale in India.

Participated · Series A · Jun 2023

Actimed Therapeutics is developing S-pindolol benzoate (ACM-001) to treat cachexia secondary to colorectal cancer. The company is preparing to advance ACM-001 into a phase IIb/III trial. Actimed says it continues raising funds to progress its improved cancer cachexia asset. It recently completed a £4.75 million (US$5 million) Series A extension. A sizeable Series B financing is currently well underway. No investor names or additional financial details were disclosed in the article. Actimed Therapeutics is a clinical-stage specialty pharmaceutical company focused on treating muscle wasting disorders, particularly cachexia associated with cancer and other chronic illnesses. Its lead candidate is S-pindolol benzoate, which the company is advancing toward a Phase 2b/3 programme called IMPACT targeting cachexia in non-small cell lung cancer and colorectal cancer. The company intends to use recent financing to support development of its pipeline and preparations for the IMPACT programme. Actimed was founded in 2017 by Stefan Anker and Andrew Coats and is led by CEO Robin Bhattacherjee. It is based in London, UK, and aims to transform care for an underserved and vulnerable patient population. The company notes that cachexia affects a significant number of cancer patients and may account for up to 20% of cancer deaths. Actimed Therapeutics is a London-based, clinical-stage biopharmaceutical company founded in 2017 that develops therapies for muscle wasting disorders, with a primary focus on cancer cachexia. Its lead product is S-pindolol (ACM-001.1), formerly MT-102, which targets multiple pathways driving cachexia and has produced promising proof-of-concept Phase II clinical data. The company is preparing further clinical studies in cachexia in non-small cell lung cancer (NSCLC) and colorectal cancer (CRC). Actimed has developed a new formulation of S-pindolol and plans a Pharmacokinetic (PK) and Pharmacodynamic (PD) study after discussions with EMA and MHRA. Completion of that study is intended to enable a full Phase 2b programme planned to commence in 2022. The company also retains global rights to S-oxprenolol in amyotrophic lateral sclerosis (ALS) while licensing other rights to Faraday Pharmaceuticals. The recent financing will fund the near-term clinical development activities described above.

Participated · Series A · Mar 2023

Vitraya Technologies builds an AI-based platform that enables automated, in-the-moment payouts and claim settlements between hospitals, healthcare facilities, and insurers. Its technology underwrites and makes claims decisions in less than one-millionth of a second and automates fraud checks to settle claims in real time within microseconds. The platform secures hospital, patient, and policy data in discrete blocks to enable safe communication among parties. Customers include Indian health insurers such as STAR, Niva Bupa, and CARE Health Insurance. The company says its system reduces operational costs and improves the patient experience, and can be used by small, medium, and large hospitals. Vitraya intends to use the new funding to scale current products and technologies, hire personnel, and pursue international business development. Founded in 2019 by Mrinal Sinha and based in Mohali, the company previously raised $4.1 million in a pre-Series A in January.

Participated · Equity · Oct 2022

unSCRIPT.ai builds an AI platform to create personalized synthetic videos in real-time, allowing brands to repurpose previously shot footage for new campaigns and one-to-one messages. The product combines AI with the face and voice of social influencers to generate highly engaging interactive videos at scale. The company positions its technology to solve conversion and engagement problems across customer journeys. unSCRIPT.ai was founded in November 2021 and is based in Bengaluru, India. The firm says its offering reduces the cost and time of producing high-quality influencer and celebrity videos. Recent funding will be used to expand technology and business capabilities and build seamless product integrations for different use cases.