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The Venture Codex

Matrix Partners India

601-602, 6th Floor, F Block, Ceejay House, Dr. Annie Besant Road, Worli, Mumbai, Maharashtra, 400018, India

Overview

Z47 invests in technology startups that target the Indian consumer and global enterprise markets at the seed, early, and early growth phases.

Total investments
100
Lead investments
44
Investments · 12mo
0
Active investors
5

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Stable Money

    Participated · Preferred · Jul 2024

    Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money offers a mobile-first platform where Indians can book fixed deposits, purchase ‘Stable Bonds’, access short-term 7-day FDs, and obtain secured lifetime-free credit cards without opening a traditional savings account. More than 30 lakh users (3 million) have invested over ₹5,000 crore (≈US$600 million) through the service, underscoring rapid adoption in an underserved fixed-income market that is compounding at roughly 12% annually. The interface emphasizes transparency, instant withdrawals, and speed, positioning the company as a trusted alternative to legacy bank processes. Stable Money generates trust by partnering directly with banks and NBFCs and plans to deepen these relationships to improve rate discovery and widen product choice. The firm intends to expand into adjacent savings products while building a physical presence in key cities to complement its digital reach. Investors highlight the platform’s trust-first design, disciplined execution, and rapid scale as key differentiators. Including the latest raise, Stable Money has secured about US$65 million in institutional and angel funding within three years of operation.

  • Rocketlane

    Led · Series B · Jun 2024

    Rocketlane builds an agentic delivery platform that unifies project management, resource and financial management, collaboration, and customer-facing delivery for professional services teams. The company launched Nitro, an agentic execution platform that it says can hand off repeatable delivery tasks to agents and reduce delivery effort by up to 50 percent in early deployments. Nitro also surfaces risks and customer signals in real time and automates back-office tasks like timesheet governance and utilization tracking. Rocketlane reported more than doubled revenue in its recent landmark year and a customer base exceeding 750 companies, including 20 firms on the Forbes Cloud 100. The company has raised $105 million in total capital, including a $60 million Series C led by Insight Partners. Rocketlane positions itself to redefine services delivery in the AI era by shifting from platforms that track work to platforms that execute it.

  • Trampoline

    Led · Seed · Jun 2024

    Trampoline is an India-UK cross-border B2B home décor brand that digitises access to design-led home décor for independent retailers. The company offers a full-stack experience from design to delivery, including no- or low-MOQs, accretive payment terms, and highly personalised curation. It deploys tech-enabled QC/QA and supply-chain solutions while using data-driven catalogue, breadth, depth and forecasting tools to serve both retailers and manufacturer partners. Trampoline is leveraging the China+1 dynamic and consumer demand for design-led, hand-crafted products to build deep supply chains across manufacturing hubs in India and Southeast Asia. After its UK launch in February 2024 the company saw significant demand, with over 1,500 units ordered in the first few months. The recently raised capital will be used to solidify sourcing and supply-chain capabilities, progress new product development, and establish the early team.

  • GreyLabs AI

    Led · Seed · Jun 2024

    Founded in 2023, GreyLabs AI offers a multilingual voice AI platform that automates sales, customer service, collections, renewals and verification calls while remaining compliant with BFSI regulations. The system fuses voice AI with speech and email analytics to deliver a unified automation stack that improves operational efficiency and generates actionable insights for banks, insurers and NBFCs. In just 18 months, the company says it has processed hundreds of millions of conversations for more than 50 clients, including RBL Bank, AU Small Finance Bank, SBI Life Insurance and Groww. The founding team previously built Cogno AI, which was acquired by Exotel in 2021. With its newly launched flagship platform, GreyLabs aims to scale to over 300 BFSI customers and handle billions of monthly interactions. Proceeds from its latest funding will bolster hiring, R&D and expansion across Bengaluru and Delhi.

  • Emversity

    Led · Seed · Apr 2024

    Founded in 2023 and headquartered in Bengaluru, Emversity integrates role-specific, employer-led curricula into university degree programs and operates National Skill Development Corporation-affiliated centers for short-term certifications. The startup focuses on grey-collar positions—including nurses, physiotherapists, medical lab technicians, and hospitality staff—that require hands-on training unlikely to be automated by AI. It has partnered with 23 universities across more than 40 campuses, trained roughly 4,500 learners, and placed about 800 candidates so far. A separate career-counseling platform generated over 350,000 inquiries and contributed more than 20% of revenue last year. Emversity reports gross margins of around 80% while keeping customer-acquisition costs below 10% of revenue, and revenue is split roughly evenly between university programs and its own certification centers. The company employs about 700 people, including 200–250 trainers. With fresh capital, it plans to scale to 200+ locations within two years, deepen efforts in healthcare and hospitality, and launch programs in engineering, procurement & construction (EPC) and manufacturing, with an eye toward eventually supplying talent internationally.

Team