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WeVOIS raises Rs 36 Cr in Series A round from Negen Capital

EntrackrEntrackr · 9m ago
WeVOIS raises Rs 36 Cr in Series A round from Negen Capital
Medial

Waste management startup WeVOIS has raised Rs 36 crore ($4.2 million) in its Series A round led by Negen Capital and Vyom Wealth (the Polycab family office), with additional participation from Venture Catalysts, SN Capital, Warmup Ventures, Marsshot Ventures (Razorpay Founders’ Fund), and other angel investors. The proceeds will be used to scale its operations, expand partnerships, and drive innovation across India. Founded by Abhinav Vashistha, WeVOIS is setting up textile waste recycling facilities and bio-CNG plants to convert wet waste into clean energy, exemplifying innovation in sustainable waste management. Building on its proprietary technology powered by the Internet of Things (IoT) and Artificial Intelligence (AI)-driven analytics, WeVOIS is optimizing waste collection, enhancing material flows, reducing carbon emissions, and improving recycling efficiency.

Build for customers, not VCs

YcombinatorYcombinator · 6m ago
Build for customers, not VCs
Medial

It’s easy to analyze your way out of taking the first step. It’s something YC sees a lot, particularly when founders try to choose what to build based on what they think VCs will like. These founders will find a great problem that they could solve, only to convince themselves it’s not “venture scale.” Before they’ve written a line of code or even talked to a single person about it, they’re trying to predict market opportunities and exit strategies a decade down the road. That’s just not how early stage startups work. In this one, they talk about the risks of “thinking like a VC”, how to know when you’re stuck in this mindset, and how to unlearn it (spoiler: stop reading so much about who’s raising what.) They’ll also cover a short list of things that we’ve found actually matter when starting a company — it’s simpler than a lot of people think.

Bringing In The Grown-Ups: When Do Startups Need Seasoned Leaders?

Inc42Inc42 · 1y ago
Bringing In The Grown-Ups: When Do Startups Need Seasoned Leaders?
Medial

Hiring senior leaders in a startup is crucial as the company grows and enters different stages of development. In the early stages, founders' vision and passion are enough, but as the startup gains traction, experienced leaders become necessary for scaling operations, securing funding, and managing a growing workforce. Indicators for hiring senior leaders include exponential growth, expanding product lines or entering new markets. Factors to consider when hiring include aligning with company goals, cultural fit, strong leadership skills, and diversity. Financial constraints can be balanced by offering equity compensation, leveraging advisors, or interim executives. Ultimately, startups must find the right balance between experience and maintaining their unique culture.

Exclusive: Trading app Investmint halts services; explores M&A deal

EntrackrEntrackr · 1y ago
Exclusive: Trading app Investmint halts services; explores M&A deal
Medial

Signal-based trading app Investmint has halted its services as the company found it difficult to figure out a reliable business model, sources aware of the development told Entrackr. In October 2022, Investmint raised $2 million in Seed round led by Nexus Venture Partners, with participation from other angel investors. As per sources, the firm had decent traction with substantial money left from the last fundraise but the team couldn’t translate them into monetization. “Investmint has been exploring acquisition opportunities with well capitalized wealth management companies,” said one of the sources requesting anonymity. Founded in February 2022 by Aakash Goel and Mohit Chitlangia, Investmint used to assist users in arriving at investment decisions and managing wealth with data backed signals. “If the acquisitions talks won’t materialize, the company may return remaining capital to its backers,” said another source who also requested anonymity. The company’s spokesperson confirmed that the team has discontinued Investmint as a product and is re-evaluating its offerings. “We’re in late-stage talks with a few big players for M&A,” the spokesperson said. A clutch of startups have returned or are in the process of returning investors’ money after their startup failed to find a product market fit (PMF) or sustainable business model. Earlier this year, Nintee, a digital health startup launched by Wingify founder Paras Chopra, announced shutting down its operations. The firm also announced that it will return the majority of funding it raised from the investors. As per an ET report, fashion startups Virgio and Fashinz are planning to return most of the capital they raised from the investors after a failed pivot. Virgio has raised nearly $40 million while Fashinza has scooped up over $150 million in funding to date. While the majority of investors don’t like to exit out from a portfolio company with a slice of their original investment, the trend of returning capital by founders seems to be a progressive one. After all, there is no point in being stuck when things aren’t working out for long.

PowerUp Money raises $7.1 Mn from Accel, Blume and others

EntrackrEntrackr · 4m ago
PowerUp Money raises $7.1 Mn from Accel, Blume and others
Medial

PowerUp Money raises $7.1 Mn from Accel, Blume and others. Wealthtech startup PowerUp Money has raised $7.1 million in its first institutional funding round, led by Accel, Blume Ventures, and Kae Capital, with participation from 8i Ventures and DeVC. The proceeds will be used to strengthen its research team, build new advisory products, and scale customer acquisition efforts. Founded in April by Prateek Jindal, ex-cofounder of Uni Cards, PowerUp Money helps users manage their finances with tools like "Power Age," which shows when they can achieve financial freedom and how much they need to save. It offers direct mutual fund investments with advisory support to retail investors via its mobile platform. The startup is rolling out both free and paid subscription models. According to the company, Power Mutual Funds is already tracking over Rs 3,000 crore (~$350 million) in assets across more than 25,000 customers, with strong growth month on month. Originally incubated within Uni Cards, PowerUp has now been spun off as an independent venture, following the funding round. As per sources, Jindal has been working on the new venture since October 2023.

Soaring stock prices mint super rich founders

EntrackrEntrackr · 1y ago
Soaring stock prices mint super rich founders
Medial

The rise in the market cap of Zomato, Policybazaar, MamaEarth, EaseMyTrip, TBO, and Ixigo has laid out a promising future for Indian startups aspiring to go public. This phenomenon has also helped create fortunes for shareholders, retail investors, and founders alike. Most recently, Zomato co-founder Deepinder Goyal checked into the billionaire club with his food tech company crossing the market cap of Rs 2,00,000 crore or $24 billion. Entrackr in collaboration with startup data intelligence platform TheKredible dives deeper into the holdings of startup founders, and their respective (current) worth. We are focusing on founders who have taken their startups public in India. At the top are Nykaa’s Falguni Nayar and her family (including trusts) as they command over 50% of the company. The collective worth of their holding is over $3.25 billion. Veteran entrepreneur and investor Sanjeev Bikhchandani comes next with his shares (via Info Edge) reaching $3.24 billion. Info Edge is an early investor in Zomato and Policybazaar, ShopKirana, Sploot, and Skylark Drones. ALSO READ: No hurry to sell, indefinite horizon on Zomato holding: Sanjeev Bikhchandani Zomato’s founder and CEO, Deepinder Goyal, joined the billionaire club as the value of his stock ownership surpassed $1 billion. Rashmi and Rakesh Verma, founders of MapMyIndia, have holdings valued at $830 million followed by Mamaearth duo Varun and Ghazal Alagh at $657 million. Despite the bumpy ride after its public offering and recent regulatory jolts, Paytm’s Vijay Shekhar Sharma currently holds stocks worth $319 million, while PolicyBazaar’s Alok Bansal’s holding is valued at $129 million. Ixigo, recently listed and now a unicorn, has seen its founders Aloke Bajpai and Rajnish Kumar create a combined value of $81.5 million. While net worth numbers based on the public value of holdings in their own firms is one figure, it’s important to note that almost all the founders mentioned here and many who are yet to go public, their personal net worth is well beyond just the value of their stake in their own firm. Liberalization has been particularly generous when it comes to founder compensations and options in the past decade, which has allowed many professionals and non-founders also to benefit. We have also observed the phenomenon of loss making startup founders investing in a parallel portfolio of other startups, many of which have delivered handsome returns as well. In a market awash with liquidity driven asset prices, one can only hope that the new status as acknowledged multi millionaires or billionaires doesn’t lead to the kind of visible excesses that can turn public opinion in the wrong direction. ‘Self made’ startup founders have an obligation to give back, be seen as giving back, and most importantly perhaps, set an example in how they do it better.

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