Welcome to Startup Bharat; FirstCry, FreshMenu, Groww raise funding

Bengaluru-based startup FreshMenu raised $2.94 million (approximately Rs 21 crore) in a recent fundraise led by Lightspeed Venture Partners.

Welcome to Startup Bharat! So far, startups have mostly been synonymous with Bengaluru, Delhi, Mumbai and Hyderabad. But, the fact is, entrepreneurs are innovating all across India. In our new series, we bring to you the story of a doctor who built a portable machine to save newborn babies from dying of jaundice across rural India. The startup is incubated at Sandbox Startups in Hubli, Karnataka, and has the potential to save lakhs of young lives that are tragically lost each year to lack of access to treatment.

Lifetron, startup india
Amitabh Kant, inaugurating the Portable Phototherapy unit 


SoftBank is investing $400 million in Pune-based startup FirstCry, according to regulatory filings. Reports suggest that $150 million of this has already been infused into the company. Firstcry, started in 2010 by Supam Maheshwari and Amitava Saha, will be using the capital to expand both its offline and online presence, as well as to strengthen its technology platform.

supam-maheshwari-firstcry-ceo


It’s time to give startups and key stakeholders a place to voice our common concerns about Angel Tax. At YourStory, we’ve been the voice of entrepreneurs and changemakers for the last 10 years. Now, let’s come together to fill out our survey on the angel tax issue. Tell us your concerns. Share your suggestions. Together, we can amplify your concerns. Together, we can knock on the doors of policymakers and decisionmakers in New Delhi. Together, we can get heard and bring about lasting change. #AbolishAngelTax. Take our Angel Tax survey now. Let’s act, not react.

Angel tax


Bengaluru-based startup FreshMenu raised $2.94 million (approximately Rs 21 crore) in a recent fundraise led by Lightspeed Venture Partners. The round also saw participation from existing investors Zodius Technology Fund and K Ganesh’s fund GrowthStory. Rumours are that the startup might be soon entering the ‘farm-to-fork’ model similar to Zomato’s HyperPure.


Agrifood tech accelerator Gastrotope shortlisted five agritech startups for its first cohort programme –  Brown Foods, Credible, Fasal, Occipital and Triton Foodworks. As part of the accelerator programme, these startups will receive help to optimise their business model, achieve product-market fit, and execute a scalable growth strategy through mentoring sessions, networking opportunities and funding advice.


Bengaluru-based startup Groww raised Series A funding of $6 million led by Sequoia India, along with participation from Propel Venture Partners, Kauffman Fellows and Y Combinator. Groww plans to launch new products and build the platform’s technology with the freshly raised capital. “The only way to bring the next 180 million on-board is by making investing simple,” said Lalit Keshre, Co-founder and CEO.


If there’s one thing that gives Hotstar a distinctive edge over its competitors in the rapidly growing OTT market of India, it is live sports, especially cricket. In fact, in the four years since Hotstar has been streaming the IPL live, the league’s viewership has grown from 41 million (in 2015) to 202 million (in 2018). These figures essentially prove that a vast majority of the audience is willing to pay for live sports content; an area where Star’s Hotstar is clearly a step ahead of Netflix and Amazon Prime Video.


Zefo Co-founder and CEO Rohit Ramasubramanian remembers a time when they were getting thrown out of Facebook groups for posting too many times. Since then, the company went on to make Rs 1 crore revenue per month in its very first year. Humble beginnings, funding hurdles and more – how did Zefo survive?

Zefo
Team Zefo 



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Sequoia India launches Surge, a founder-focused program for early-stage startups in India & SE Asia

Sequoia Capital India, known for nurturing startups from idea to IPO stage, created the 16-week-long Surge program to give founders an “unfair …

Raising funding and scaling have for long been the challenges that early-stage startup founders in India and South-East Asia face. In a move aimed at addressing this pressing concern, top global VC firm Sequoia Capital India is launching Surge, a rapid scale-up program for early-stage startups.

Sequoia Capital India, known for nurturing startups from idea to IPO stage, createdthe 16-week-long Surge program to give founders an “unfair advantage to scale and grow, make smart business model choices at the start, and raise a Series A round soon after.”

Speaking to YourStory from Davos, Shailendra J Singh, Managing Director, Sequoia Capital (India) Singapore, says,

“Being an early-stage founder is possibly the toughest job in the world. At a time when very few believe in a founder’s dreams, when there is little proof of concept, and few resources, the most critical decisions have to be made.”

Surge
Shailendra J Singh, Managing Director, Sequoia Capital (India) Singapore

And that’s where Surge aims to give the founders a flying start.

Surge, which will invest $1.5 million in every startup that is a part of the program, is aimed at helping companies with their early-stage design choices with the support of Surge mentors that include accomplished founders and technology executives, says Shailendra.

“We think these early-stage design choices can be very, very hard – from building the first product to hiring the first engineer to landing the first customer. These choices, we feel, can make or break a company,” he adds.

Shailendra believes that early-stage founders are still under-served in India. “We hear this from founders in ASEAN too. So we designed Surge to serve founders with an ambitious proposition.”

To gauge how founders in its regions were faring, Sequoia conducted a series of Twitter polls last year and found that seed startups are under-capitalised.

“While CB Insights reports that theaverage seed/angel round size globally is now $1.3 million, the first cheque in India remains relatively small. The majority of respondents (78 percent) to my Twitter poll reckon the typical seed round in India isunder Rs 5 crores ($800,000),” says Shailendra.

The other insights gleaned by Sequoia India include,

“Road to Series A consists of many small rounds. That early stage fundraising takes up way too much time, and that founders are getting too diluted too early.”

According to YourStory Research, Pre-Series A deals saw nearly 20 percent dip in 2018 from a year earlier, highlighting the challenge that very early stage startups face.

At the end of Surge, founders will have the opportunity to raise capital during an ‘UpSurge’ week from a curated list of angels, seed funds, and VCs. If founders of a Surge cohort prefer to wait, they can raise capital during UpSurge week of the next Surge cohort. The initial $1.5 million provides them runway, in most cases, to last well beyond two Surge cohorts.

The key highlights of the program include:

  • Capital: Surge will invest $1.5 million at the beginning in every startup that is a part of the program. By ensuring these startups have capital at the start, Surge will enable founders to recruit a team right away, make product, and growth investments.
  • Community: Each Surge cohort will have 10-20 companies and there will be two cohorts a year. The firm believes that each Surge founder will be a pillar of support for others in their cohort. The smaller group size also means Surge will be far more selective than other programs.
  • Mentors: The initial list of Surge mentors includes accomplished founders and technology executives like Byju Raveendran, Carousell’s Siu Rui Quek, Cred’s Kunal Shah, Freshwork’s Girish Mathrubootham, GO-JEK’s Nadiem Makarim, Google’s Rajan Ananadan, Insider’s Hande Cilinger, Mad Street Den’s Ashwini Asokan, OYO’s Ritesh Agarwal, Uber’s Amit Jain, WhatsApp’s Neeraj Arora, Zilingo’s Ankiti Bose, Zomato’s Deepinder Goyal, and more.
  • Cross-border immersion: Surge is designed to have five modules, which will be hosted across the globe in China, India, Silicon Valley, and in Singapore. “Our global immersion is a unique aspect of Surge and is designed to give founders first-hand exposure to startups and trends in the most important technology markets,” the firm states.
  • Company building support: Over a four-month journey, founders will participate in Sequoia’s AMP curriculum that leverages decades of startup building experience at Sequoia Capital. AMP was developed by the US team and is adapted to the firm’s experiences in India and ASEAN.


ALSO READ: From moguls to VC investors: They’ve always had their finger in the pie


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Four Must-Read Books on the Private Markets

Author Ben Horowitz, co-founder of Andreessen Horowitz addresses the real problems and issues that founders face—from launching to selling a …
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In case one of your 2019 resolutions is to do more reading, we thought we’d pull together a short list of recommended books covering venture capital and private equity. Whether you’re a founder, an investor, or just want to learn more about the space, these are some of the titles that stand out for our team. How many of these are on your list?

The Hard Thing About Hard Things

Author(s): Ben Horrowitz

Synopsis: In just a few short years, The Hard Thing About Hard Things has already become a classic among business management books. Author Ben Horowitz, co-founder of Andreessen Horowitz addresses the real problems and issues that founders face—from launching to selling a business, and everything in between.

Mastering Private Equity

Author(s): Claudia Zeisberger, Michael Prahl, Bowen White

Synopsis: This two-volume set provides a unique and comprehensive reference for investors, business owners, finance professionals and others looking to access private equity funds and the teams that manage them. It covers every facet of the private equity life cycle—from deal sourcing to exit—in precise detail.

Zero to One Author(s): Peter Thiel

Synopsis: In Zero to One, PayPal co-founder and early Facebook investor Peter Thiel talks about the thrill of creating companies that revolutionize the way we work and live. Zero to One is equal parts how-to advice and philosophical discussions on capitalism and entrepreneurship.


The Business of Venture CapitalAuthor(s): Mahendra Ramsinghani

Synopsis: Often positioned as the definitive guide to demystifying the venture capital business, this book goes deep on everything from raising funds and structuring investments to defining exit strategies and pathways. Sprinkled throughout the book are insights from more than 25 of the field’s leading practitioners.


How do these stack up against your favorite business reads? Drop us a comment to let us know. And check out our News and Analysis site to dive deeper into our perspective on venture capital and private equity.

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As Nxp Semiconductors NV (NXPI) Stock Price Declined, Shareholder Harvest Management Cut Its …

Harvest Management Llc decreased its stake in Nxp Semiconductors N V (NXPI) by 63.75% based on its latest 2018Q3 regulatory filing with the SEC.

Teleflex Incorporated (NYSE:TFX) Logo

Solaris Asset Management Llc decreased its stake in Teleflex Inc (TFX) by 78.49% based on its latest 2018Q3 regulatory filing with the SEC. Solaris Asset Management Llc sold 3,648 shares as the company’s stock rose 1.74% while stock markets declined. The institutional investor held 1,000 shares of the medical and dental instruments company at the end of 2018Q3, valued at $266,000, down from 4,648 at the end of the previous reported quarter. Solaris Asset Management Llc who had been investing in Teleflex Inc for a number of months, seems to be less bullish one the $11.84 billion market cap company. The stock decreased 0.06% or $0.15 during the last trading session, reaching $257.38. About 71,419 shares traded. Teleflex Incorporated (NYSE:TFX) has risen 2.38% since January 23, 2018 and is uptrending. It has outperformed by 2.38% the S&P500. Some Historical TFX News: 03/05/2018 – TELEFLEX INC – ON MAY 1, CO INITIATED A RESTRUCTURING PLAN INVOLVING RELOCATION OF CERTAIN MANUFACTURING OPERATIONS TO AN EXISTING LOWER-COST LOCATION; 18/05/2018 – Teleflex Closes Above 50-Day Moving Average: Technicals; 16/05/2018 – NeoTract to Unveil New Clinical Data on the UroLift® System at American Urological Association 2018 Meeting; 03/05/2018 – TELEFLEX INC – ON MAY 1, CO INITIATED A RESTRUCTURING PLAN INVOLVING OUTSOURCING OF CERTAIN DISTRIBUTION OPERATIONS AND RELATED WORKFORCE REDUCTIONS; 01/05/2018 – Teleflex Presenting at Bank of America Conference May 15; 07/05/2018 – Teleflex Announces Quarterly Dividend; 03/05/2018 – TELEFLEX INC TFX.N -ON A CONSTANT CURRENCY BASIS, CO REAFFIRMED ITS FULL YEAR 2018 GUIDANCE RANGE OF BETWEEN 12% AND 13% OVER PRIOR YEAR; 03/05/2018 – Teleflex to Book Pretax Restructuring Charges of $102M-$133M; 12/04/2018 – FDA: Teleflex Medical Europe Ltd- Baker Jejunostomy Tubes: Product Code Equivalent Code (a) 655300160 655316 (b) 655500200; 03/05/2018 – Teleflex 1Q Adj EPS $2.15

Harvest Management Llc decreased its stake in Nxp Semiconductors N V (NXPI) by 63.75% based on its latest 2018Q3 regulatory filing with the SEC. Harvest Management Llc sold 51,000 shares as the company’s stock declined 18.87% with the market. The hedge fund held 29,000 shares of the semiconductors company at the end of 2018Q3, valued at $2.48M, down from 80,000 at the end of the previous reported quarter. Harvest Management Llc who had been investing in Nxp Semiconductors N V for a number of months, seems to be less bullish one the $23.32B market cap company. The stock decreased 0.23% or $0.18 during the last trading session, reaching $78.9. About 916,886 shares traded. NXP Semiconductors N.V. (NASDAQ:NXPI) has declined 33.99% since January 23, 2018 and is downtrending. It has underperformed by 33.99% the S&P500. Some Historical NXPI News: 25/05/2018 – QUALCOMM EXTENDS NXP CASH TENDER OFFER TO 5 PM ET JUNE 8; 02/05/2018 – NXP SEMICONDUCTORS WON’T HOLD CALL NOR PROVIDE FORWARD GUIDANCE; 23/03/2018 – QUALCOMM SAYS REMEDIES IN CHINA SIMILAR TO EU FOR NXP; 20/04/2018 – NXP SEMI GAINS PRE-MKT AS MSCC/MCHP UNDER MOFCOM SIMPLE REVIEW; 02/05/2018 – NXP Semiconductors 1Q EPS 17c; 28/05/2018 – USI Announces SOM IoT Module Products with NXP And Qualcomm Solutions; 13/03/2018 – Qualcomm: Instinet Sees Xilinx, ADI, Microchip Similarities to NXP as Targets — Barron’s Blog; 14/05/2018 – U.S. China ZTE deal also would involve speeding China review of Qualcomm deal for NXP; 21/05/2018 – QUALCOMM INC – FOUR SERIES OF OUTSTANDING NOTES ARE INTENDED TO FINANCE ACQUISITION; 19/03/2018 – NXP’s MIFARE 2GO and Google Pay Transform Public Transportation

Since August 20, 2018, it had 0 insider buys, and 17 selling transactions for $28.78 million activity. Shares for $2.49 million were sold by SMITH BENSON. On Wednesday, September 19 the insider Kennedy Thomas Anthony sold $5.55 million. The insider RANDLE STUART A sold 2,500 shares worth $663,069.

Among 13 analysts covering Teleflex (NYSE:TFX), 9 have Buy rating, 0 Sell and 4 Hold. Therefore 69% are positive. Teleflex had 44 analyst reports since July 31, 2015 according to SRatingsIntel. The firm has “Buy” rating by Jefferies given on Tuesday, September 5. The rating was initiated by Needham on Tuesday, March 7 with “Buy”. On Friday, September 8 the stock rating was upgraded by Leerink Swann to “Outperform”. The stock has “Buy” rating by Needham on Friday, November 3. The stock of Teleflex Incorporated (NYSE:TFX) has “Hold” rating given on Tuesday, September 5 by KeyBanc Capital Markets. The stock of Teleflex Incorporated (NYSE:TFX) earned “Buy” rating by Piper Jaffray on Friday, November 10. The stock of Teleflex Incorporated (NYSE:TFX) earned “Hold” rating by Deutsche Bank on Friday, May 4. The rating was upgraded by Needham on Monday, September 10 to “Strong Buy”. The firm earned “Buy” rating on Friday, January 6 by Jefferies. The firm earned “Buy” rating on Tuesday, June 5 by Leerink Swann.

More notable recent Teleflex Incorporated (NYSE:TFX) news were published by: Streetinsider.com which released: “Teleflex (TFX) Reports Acquisition of Essential Medical Inc. – StreetInsider.com” on October 04, 2018, also Seekingalpha.com with their article: “Teleflex acquires Essential Medical – Seeking Alpha” published on October 04, 2018, Investorplace.com published: “The Fate of PG&E Stock Reminds Us to Treat Utilities Differently – Investorplace.com” on January 16, 2019. More interesting news about Teleflex Incorporated (NYSE:TFX) were released by: Seekingalpha.com and their article: “Mercer +6.6% on index moves; GDOT, TFX changing indexes – Seeking Alpha” published on January 15, 2019 as well as Streetinsider.com‘s news article titled: “PG&E to get pulled out of S&P 500, shares near 2001 lows – StreetInsider.com” with publication date: January 16, 2019.

Analysts await Teleflex Incorporated (NYSE:TFX) to report earnings on February, 28. They expect $2.78 EPS, up 13.93% or $0.34 from last year’s $2.44 per share. TFX’s profit will be $127.83 million for 23.15 P/E if the $2.78 EPS becomes a reality. After $2.52 actual EPS reported by Teleflex Incorporated for the previous quarter, Wall Street now forecasts 10.32% EPS growth.

Investors sentiment decreased to 0.86 in 2018 Q3. Its down 0.19, from 1.05 in 2018Q2. It fall, as 38 investors sold TFX shares while 129 reduced holdings. 43 funds opened positions while 101 raised stakes. 40.25 million shares or 2.85% more from 39.14 million shares in 2018Q2 were reported. Hemenway Co Limited Co accumulated 1,000 shares. Massachusetts-based Fmr Lc has invested 0.04% in Teleflex Incorporated (NYSE:TFX). Nuveen Asset Mngmt Llc owns 54,583 shares. Moreover, State Of Alaska Department Of Revenue has 0.02% invested in Teleflex Incorporated (NYSE:TFX) for 4,899 shares. Three Peaks Cap Ltd Liability has invested 0.86% in Teleflex Incorporated (NYSE:TFX). Huntington Bank & Trust has 0% invested in Teleflex Incorporated (NYSE:TFX) for 426 shares. Bnp Paribas Asset Mgmt Holdg invested in 0% or 1,157 shares. Scout Investments reported 132,023 shares. Hsbc Public Limited Co holds 0% of its portfolio in Teleflex Incorporated (NYSE:TFX) for 5,338 shares. Axa reported 6,799 shares stake. Credit Suisse Ag holds 0.01% or 47,340 shares. Principal Fincl Gru invested in 0.13% or 569,105 shares. Parnassus Invs Ca invested in 453,609 shares. Conestoga Cap Advsrs Ltd Limited Liability Company holds 0.08% in Teleflex Incorporated (NYSE:TFX) or 11,773 shares. Millennium Mgmt Ltd Limited Liability Company invested in 8,418 shares.

Among 32 analysts covering NXP Semiconductors NV (NASDAQ:NXPI), 18 have Buy rating, 2 Sell and 12 Hold. Therefore 56% are positive. NXP Semiconductors NV had 94 analyst reports since August 3, 2015 according to SRatingsIntel. The stock has “Outperform” rating by Raymond James on Tuesday, April 19. SunTrust upgraded the stock to “Buy” rating in Friday, April 27 report. On Thursday, May 3 the stock rating was maintained by Bernstein with “Hold”. The rating was maintained by Oppenheimer on Thursday, August 3 with “Hold”. The firm has “Hold” rating given on Thursday, October 26 by Oppenheimer. The firm has “Buy” rating given on Thursday, October 18 by Goldman Sachs. The stock of NXP Semiconductors N.V. (NASDAQ:NXPI) has “Market Perform” rating given on Friday, November 2 by BMO Capital Markets. The firm has “Neutral” rating given on Friday, July 27 by Bank of America. The stock of NXP Semiconductors N.V. (NASDAQ:NXPI) earned “Buy” rating by Mizuho on Thursday, October 27. The company was downgraded on Friday, October 28 by Oppenheimer.

Analysts await NXP Semiconductors N.V. (NASDAQ:NXPI) to report earnings on February, 6. They expect $1.77 EPS, down 42.16% or $1.29 from last year’s $3.06 per share. NXPI’s profit will be $523.08M for 11.14 P/E if the $1.77 EPS becomes a reality. After $1.81 actual EPS reported by NXP Semiconductors N.V. for the previous quarter, Wall Street now forecasts -2.21% negative EPS growth.

More notable recent NXP Semiconductors N.V. (NASDAQ:NXPI) news were published by: Benzinga.com which released: “China OKs Qualcomm (NASDAQ:QCOM)-NXP (NASDAQ:NXPI) Merger, But Companies Have Moved On – Benzinga” on December 03, 2018, also Seekingalpha.com with their article: “Why Won’t NXP Semiconductors Stop Falling? – Seeking Alpha” published on October 18, 2018, Seekingalpha.com published: “What If Qualcomm Walks? – Seeking Alpha” on July 20, 2018. More interesting news about NXP Semiconductors N.V. (NASDAQ:NXPI) were released by: Nasdaq.com and their article: “Noteworthy ETF Inflows: EFA, NXPI, TEVA, CHKP – Nasdaq” published on January 04, 2019 as well as Nasdaq.com‘s news article titled: “Noteworthy Wednesday Option Activity: IRTC, DENN, NXPI – Nasdaq” with publication date: October 31, 2018.

Teleflex Incorporated (NYSE:TFX) Institutional Positions Chart

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Insight Venture Partners Promotes Five

Insight Venture Partners, a global venture capital and private equity firm, appointed Teddie Wardi and Matt Gatto to Managing Director. Additionally …

Insight Venture Partners LogoInsight Venture Partners, a global venture capital and private equity firm, appointed Teddie Wardi and Matt Gatto to Managing Director.

Additionally, the firm announced the appointments of Allyson White, Byron Lichtenstein, and Jonathan Grossman to Principal.

Teddie Wardi joined Insight in 2017 and focuses on high-growth software and internet companies. Wardi works with several Insight portfolio companies and helps lead new investments across both Enterprise and SMB software. Previously, he was a Partner at Atomico, one of the largest European venture funds based in London, and a VP at Dawn Capital, a SaaS focused early stage fund. Prior to venture investing, he served as co-founder and CTO of Nervogrid, a cloud service marketplace platform, which was acquired by ALSO. Wardi was recognized on GrowthCap’s 40 Under 40 Growth Investors list in 2018.

Matt Gatto joined Insight in 2010. He focuses on high-growth software and SaaS businesses across infrastructure, healthcare and enterprise applications, and also has experience with leveraged buyouts. Prior to joining Insight, he worked in online advertising optimization at Verizon Information Services, debt restructuring and issuance at Deutsche Bank Asia and electronic communications risk management at Merrill Lynch. Gatto has previously been recognized on both Forbes 30 Under 30 in Venture Capital and GrowthCap’s 40 Under 40 Growth Investors.

Allyson White joined Insight in 2012 as part of the Onsite team. Previously, she was a strategy consultant in the markets and customers practice at Monitor Group, where she advised multi-national companies on growth strategy, product innovation, acquisitions, scenario planning and pricing strategy. White worked in a variety of industries including pharmaceutical, insurance and chemicals.

Byron Lichtenstein joined Insight in 2015. Prior to his role with Insight, he worked as a Consultant with Bain & Company, advising both public and private companies on long-term product and go-to-market strategy definition, internal process redesign and supply chain optimization. He also spent significant time in Bain’s private equity due diligence group and has experience across a diverse set of industries including healthcare, retail, financial technology, insurance and consumer packaged goods. Lichtenstein previously served in roles at the Bill & Melinda Gates Foundation and Procter & Gamble.

Jonathan Grossman has grown his career at Insight since 2010. He previously worked for PricewaterhouseCoopers as an audit associate and senior associate. During his time there, Grossman provided audit and assurance services to various hedge funds, private equity funds, and other clients within the financial services industry. He graduated summa cum laude from CUNY Queens College with a dual degree in Accounting and Economics and is a Certified Public Accountant.

Founded in 1995, Insight Venture Partners is a global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide.

The team is comprised of more than 130 professionals.

FinSMEs

23/01/2019

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