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0xPPL closes strategic round led by Peak XV, others

EntrackrEntrackr · 10m ago
0xPPL closes strategic round led by Peak XV, others
Medial

0xPPL, a platform dedicated to social networking in the on-chain world, has raised its strategic funding round led by AllianceDAO, Anagram, and Peak XV Partners for an undisclosed amount. Balaji Srinivasan, Anatoly Yakovenko (co-founder at Solana), Raj Gokal (co-founder at Solana), Sandeep Nailwal (co-founder at Polygon), Ryan Selkis (founder at Messari), Sreeram Kannan (founder at EigenLayer) and others have also participated in the round. The proceeds will be used to enhance product, grow team and advance the company’s mission of being the go-to on-chain social networking platform, 0xPPL said in a press release. Founded in August 2022, 0xPPL is a next-generation social network designed specifically for crypto natives. By offering the safety of chain social networking, they aim to make on-chain navigation easy and engaging. OxPPL enables users to track portfolios across EVM, Solana, Bitcoin, TION and Cosmos, all at one place while also checking invested amount, PnL, 24hr change and staking rewards. Users can stay updated on token holdings, protocol positioning, and NFT values and also benefit from cross-posting features that enable seamless content sharing across platforms like twitter, Farcaster and Lens Protocol and more.

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Exclusive: Peak XV in talks to lead new round in visa startup Atlys

EntrackrEntrackr · 1y ago
Exclusive: Peak XV in talks to lead new round in visa startup Atlys
Medial

Online visa application platform Atlys is in talks to raise a new round to the tune of $15-18 million, sources aware of the development told Entrackr. The Mumbai and San Francisco-based firm is raising its Series B round within a year of Series A fundraise. “Atlys has initiated talks with existing backer Peak XV and others to raise Series B round. The talks are early and may take a couple of months to materialize,” said a source who requested anonymity. In September last year, Atlys scooped up $12 million in a Series A round led by Elevation Capital and Peak XV Partners with participation from existing investors Andreessen Horowitz (a16z), Musical Duo Chainsmokers, South Park Commons, Pinterest Founders and other investors. To date, it has raised over $17 million. “The round will be led by Peak XV and value Atlys anywhere at around $70 million or even more,” said another source. Launched in 2021, Atlys makes visa process visa-related processes easier in a quick time. It has built a tech which aims to reduce visa rejection rates. The platform covers more than 150 destinations and with an average time of just over 4-10 minutes spent to apply for a visa. As per sources, Atlys facilitates around 30,000 visa applications per month and India contributes more than 60% (20,000) visa applications. Earlier this year, the firm launched a new refund feature aimed at providing financial security to its users if their visa gets rejected. In a response to Entrackr’s queries, Atlys founder and CEO Mohak Nahta said, “We would like to clarify that we are currently not engaging in any fundraising activities, and reports or rumours indicating otherwise are inaccurate.” Queries sent to Peak XV did not elicit any response. Atlys competes with Gurugram-based Visa2Fly and Mumbai-based StampThePassport. While Visa2Fly raised $414K in its pre-seed round from ODX (On Deck), MarsShot VC (Razorpay Founders) and others in July 2022, StampThePassport raised $500K in September last year.

Shraeyansh Thakur resigns from Peak XV after a decade

EntrackrEntrackr · 4m ago
Shraeyansh Thakur resigns from Peak XV after a decade
Medial

Shraeyansh Thakur resigns from Peak XV after a decade During his tenure at Peak XV, he was board member and observer for startups like Atlys, Meesho, Cars24, ApnaMart, Unacademy, Zetwerk, Urban Piper, Bijnis, among others. Shraeyansh Thakur, an investor at Peak XV Partners, has resigned after nearly 10 years at the venture capital firm, sources told Entrackr. This marks the fifth high-profile exit from Peak XV in the past year. “Shraeyansh Thakur has decided to quit the firm and is likely to launch his own venture soon,” said one of the sources requesting anonymity. Queries sent to Peak XV and Thakur did not elicit any response until publication of the story. "After an incredible 9+ years at Peak XV / Sequoia India, I have decided to embark on a new entrepreneurial journey. The next 10 years are going to be India’s golden digital decade and our founders now have true belief to create the world’s best companies from India," said Thakur in a Linkedin post. Last month, Peak XV’s managing partners, Shailesh Lakhani and Abheek Anand, stepped down after serving for more than a decade. Prior to that, Anandamoy Roychowdhary, a partner at Peak XV's Surge, departed after over 11 years at the firm, while Piyush Gupta, then Managing Director, left after seven years to launch his secondary-focused fund, Kenro Capital. Meanwhile, Rishen Kapoor, co-founder and CEO of SaaS startup Toplyne, has returned to Peak XV Partners after his three-and-a-half-year-old venture shut down. In October last year, Peak XV reduced its $2.85 billion fund by 16% as part of a strategic shift towards investing in a more measured manner amid elevated valuations in the Indian market. This development came a year after Sequoia Capital rebranded as Peak XV.

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