Powai Lake Ventures
Southern Bank of Powai Lake, Mumbai, Maharashtra, India
Overview
They are a bunch of people who love the Powai Lake in Bombay. Some of us live on the southern bank of the lake and enjoy the view from their apartments every day. Many of us just hang around in the cafes around the lake, sipping a cold beer while soaking in the warm breeze. They love to meet founders who build companies from their hostel rooms on the northern bank of the lake. When they like them, they fund them. That makes us the funders. They are founders too. And they have had their share of years in the hostel rooms on the northern bank.
- Total investments
- 2
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Finance
Investment portfolio
- Qyk
Participated · Series A · Aug 2015
Qyk operates a mobile platform that connects customers with nearby service providers and professionals across categories such as wedding photography, language training, CAs, interior designers and tax consultants. The platform enables customers to compare providers and obtain competitive quotes. Founded in October 2014 by IIT graduates Deepak Singhal, Sangharsh Boudhh, Shobhit Singhal and Anubhav Sahoo, Qyk began operations in Bangalore and also offers services in Mumbai, Delhi, Hyderabad, Chennai, Pune and Kolkata. Since launching operations five months ago in Bangalore, Qyk says it has added 10,000 professionals across 100 categories. The company has a 70-member team today and expects to scale headcount to over 200 within a year. Recent fundraising is intended to support growth and scaling of the marketplace.
- Bite Club
Led · Seed · Mar 2015
Bite Club is an asset-light food marketplace and internet-first kitchen business launched in 2014 by engineering graduates Prateek Agarwal, Aushim Krishan and Siddharth Sharma. It sources food from a network of roughly 180 chefs and offers a daily rotating menu of 40 items. The company plans to expand further in the National Capital Region and to launch new product categories, including high-shelf-life foods such as dips, hummus and pickles early next year. Management emphasizes the asset-light model and says margins are superior to a pure restaurant delivery business. The recent funding will provide the company with an 8–10 month runway. No revenue figures were disclosed in the article. Bite Club (operated by Ecstasy E-Ordering Pvt Ltd) runs a managed marketplace that onboards 80–100 individuals — housewives, recipe bloggers, restaurant chefs and former restaurant owners — to cook meals for customers. Customers place orders via call, WhatsApp, the company's Android app or its Facebook page. The service processes roughly 250–300 orders per day with an average ticket size of Rs 180, and has served over 6,000 meals to more than 1,500 customers so far. The company was founded in November 2014 and is currently based in Gurgaon. Management says the recent funding will be used to enhance technology and to support geographic expansion. In the coming months Bite Club plans to expand to Delhi and Noida.
Team
No current team members are available.