Participated · Seed · Aug 2023

Arkifi builds workflow automation tools for advanced finance, positioning an analyst copilot that can retrieve information, build financial models, explain results, and interpret other models. The platform uses a novel architecture designed to minimize dependence on generative AI. Arkifi was incubated at Khosla Ventures and spun out in March 2023; founders are Hesam Motlagh and Jeremy Fraenkel. The company is collaborating with Microsoft to build a plugin for Microsoft 365 Copilot. Arkifi intends to use the funds to expand operations and continue product development. It raised over $9M in Seed funding led by Khosla Ventures and Nyca Partners.

Participated · Series A · Nov 2021

Africa Health Holdings runs multiple hospital brands and a telemedicine platform (MyCareMobile) across Ghana, Kenya and Nigeria, aiming to build a tech-forward healthcare system. The company operates about 40 facilities across three brands—Meridian Health Group in Kenya, Rabito Clinic in Ghana and Care Point Hospitals in Nigeria—and also runs pharmacies and laboratories. It attends to roughly 200,000 patients annually who use its telemedicine platform for referrals, consultations and treatment. MyCareMobile provides teleconferencing consultations, access to test results and 24-hour emergency response, and supports electronic follow-ups through a mobile app. The firm plans to expand its telemedicine service beyond Ghana into Kenya and Nigeria and to grow its footprint within East, North and Southern Africa. Africa Health Holdings is investing in micro-tech-enabled clinics with virtual doctors' offices, diagnostic technologies and nursing support to deliver lower-cost care for people from lower socioeconomic classes.

Participated · Series D · Mar 2017

Instacart is an on-demand grocery delivery platform that has broadened offerings beyond groceries to include same-day delivery of prescription medicine, electronics, home décor, sporting equipment and more. The company said it intends to grow headcount by 50% in 2021 and to continue scaling and investing in advertising, marketing and enterprise efforts. Instacart completed multiple fundraises in 2020, including a $225 million round in June, a $100 million round in July, and a $200 million venture round in October. The company attributed much of its recent growth and investor interest to demand driven by the pandemic. Instacart did not disclose specific usage growth rates in its announcement. CFO Nick Giovanni said the company expects pandemic-era shopping habits to be "a new normal." Instacart is an on-demand grocery delivery company that serves customers and grocery partners and also operates enterprise and ads businesses. The company announced a $200 million funding round led by D1 Capital and Valiant Peregrine Fund that values Instacart at $17.7 billion post-money ($17.5 billion pre-money). Instacart said it will use the new capital to introduce features and tools to improve the customer experience and to further support its enterprise and ads businesses. Demand for Instacart expanded during the COVID-19 pandemic, contributing to rapid valuation growth. Earlier in 2020 the company raised $225 million in June and $100 million in July; the June round valued it at about $13.7 billion. Profitability is unclear: The Information reported a roughly $10 million profit in one month in Q2, while also reporting a roughly $300 million loss in 2019; Instacart did not answer questions about further profitable months or Q3 growth. The company is engaged in political and legal matters, including backing California’s Prop 22 and facing a D.C. lawsuit alleging deceptive service fees and unpaid sales tax. Instacart, a San Francisco company, operates a grocery delivery and shopping platform available at roughly 30,000 stores across the U.S. and Canada and reachable by about 85% of U.S. households and over 70% of Canadian households. The company announced a $225 million financing and will use the proceeds to invest in shoppers and partners, build out its advertising and enterprise business, and improve customer experience. Instacart also plans to invest in technical and operational infrastructure to help ensure timely deliveries as orders have increased roughly 500% year over year. The surge in demand has led the company to hire hundreds and thousands of shoppers and, according to The Information, to report its first profit. Despite growth and profitability, Instacart relies heavily on independent contractors and faces persistent shopper unrest and strikes over pay and protections. In response to recent events, the company said it would invest $1 million to support internal teams and nonprofits, and it has spent funds on a ballot measure to keep shoppers classified as independent contractors. Instacart operates a grocery delivery and pickup platform that connects shoppers to more than 300 retailers, including Kroger, Costco, Walmart and Sam’s Club. CEO Apoorva Mehta has an ambition for every U.S. household to use Instacart, and the company says its service is available to roughly 70% of U.S. households. Instacart is expanding its engineering footprint — including plans to double its engineering team and fill 300 open engineering roles in a new Toronto office. Financially, the company reports profitability on a contribution margin basis (profit per order) and has been raising capital aggressively while spending cautiously. Sources say Instacart still holds the entirety of its $350M Series E and the majority of its $413M Series D in the bank, leaving about $1.2B in available cash. The company has also completed several senior hires and continues to pursue broader retail partnerships and pilots. Instacart operates an online grocery delivery service and has a partnership of sorts with Whole Foods. The company says it plans to accelerate efforts to bring online grocery everywhere and to transform the way people shop. Instacart raised an additional $150 million, bringing its Series E to $350 million at a $4.35 billion valuation. That follows a $200 million raise in February that valued the company at $4.2 billion. Coatue is named as a new investor in the raise, with participation from other new and existing investors. The funding comes as Amazon, owner of Whole Foods, announced free two-hour delivery of Whole Foods items via Prime Now, increasing competition in the online grocery market.

Participated · Equity · Feb 2016

Xpressbees is a Pune-headquartered logistics company offering end-to-end delivery and supply-chain solutions for e-commerce and other industries. It works with more than 1,000 clients, including Paytm, Meesho, Lenskart, Xiaomi and NetMeds, and has a presence in over 2,000 cities and towns. The company processes more than 2.5 million orders per day and reported revenue of about $300 million for the financial year ending March while remaining loss-making. Xpressbees began within FirstCry in 2012 and became an independent company in 2015 under co-founder and CEO Amitava Saha, alongside Supam Maheshwari. The firm operates an asset-light model and is positioning for growth; observers and investors say the latest investment signals readiness to pursue an initial public offering within a year to two. Its cumulative funding is approximately $680 million and its investor base includes Khazanah, TPG, Alibaba and Blackstone. Xpressbees is an Indian third-party logistics unicorn. The company said it has secured a $40 million investment from Malaysia’s sovereign wealth fund, Khazanah Nasional. The transaction was announced in a company statement. The article identifies Khazanah Nasional as the investor and does not list other participants. No further financial metrics, terms of the investment or use of proceeds were disclosed in the article. Xpressbees provides end-to-end logistics services including last-mile delivery, 3PL, B2B logistics, and cross-border operations. The company emphasizes technology-driven platforms and a scalable, asset-light operating model with a seamless last-mile management system. Xpressbees operates across 3,000 cities, services over 20,000 pin codes, delivers more than 1.5 million packages per day, has over 100 hubs, 10 lakh sqft-plus warehouse capacity, and serves 52 airports. Management reports a near 100% year-over-year revenue growth. The capital from the Series F is earmarked to evolve the business into a full-service logistics organization, support growth, product development, and hiring talent. Xpressbees positions itself as a trusted logistics partner for India’s growing e-commerce market. Xpressbees operates a delivery and logistics network serving more than 1,000 customers, including Paytm, Meesho, Lenskart, Xiaomi, NetMeds and Snapdeal. It has a presence in over 2,000 cities and towns and processes more than 2.5 million orders a day, up from about 600,000 daily orders the prior year. The company employs over 30,000 delivery staff and supports large e-commerce volumes across India. Xpressbees began inside FirstCry in 2012 and became an independent company in 2015. The startup plans to use new capital to further automate its hubs and sorting centres and expand its delivery footprint to cover the entire country. Financially, it has attracted institutional capital and is scaling operations as online shopping grows in India. XpressBees operates a logistics network offering last-mile delivery, reverse logistics, real-time tracking and multiple payment collection options for clients such as Paytm, Flipkart, Snapdeal and Reliance. The company reports delivery reach to more than 10,000 pincodes with 53 hubs and over 1,300 service centres. Founded by Amitava Shah and Supam Maheshwari and spun out of FirstCry, XpressBees is operated by BusyBees Logistics Solutions. The startup plans to use the new capital for growth and expansion of its business. Prior to this round it had completed six funding rounds totalling $157.6 million and is also backed by debt capital firm InnoVen Capital. XpressBees has a history of institutional backers including SAIF Partners, Paytm, Valiant Capital, Chiratae Ventures, Vertex Ventures and IDG Ventures.

Led · Series D · Feb 2016

Brainbees Pvt Ltd is the parent company of FirstCry.com, a kids-focused e-commerce portal. The company is described in the article as operating in India. It completed a $26 million Series D funding round. The round was led by San Francisco-based Valiant Capital Partners. The article does not disclose additional operating metrics, use of proceeds, or other strategic plans. No other investors or financial terms were specified in the report. Brainbees owns and operates FirstCry.com (kids, babycare and maternity) and GoodLife.com (health, wellness and beauty), offering a catalogue across infant accessories, apparel, toys and beauty brands. The company claims leadership in India’s online babycare and beauty categories and stocks over 25,000 SKUs from brands such as Kimberly Clark, L'Oreal, Mattel and Disney. It began operations in late 2010 from Pune and currently ships from one warehouse to more than 2,000 towns and cities across India. Brainbees emphasizes a wide assortment of brands and strong customer service as differentiators. The company plans to extend product selection, add new business categories and brands, expand warehousing (including shipping from multiple warehouses), recruit for supply-chain roles, and invest in improving the customer shopping experience. The investment will also be used for marketing and accelerating growth in existing categories.