Dunzo Ups Its Machine Learning Game To Reach The Mark Of 25 Million Orders Per Month
Analytics India | July 2019
Dunzo is an on-demand delivery service platform has changed the way people move things, shop and commute. It does 60-minute deliveries and it serves in three verticals: commute, courier, and commerce.
A capital idea
Fortune India | July 2019
Sashank Rishyasringa and Gaurav Hinduja were given many reasons why Capital Float would not work. Naysayers said the market was not ready and they lacked experience. The duo has proven them wrong.
Embassy Office Parks Continues ESG Initiatives on World Environment Day
Business Standard | June 2019
Embassy office parks has partnered with Lithium Urban Technologies, world's largest electric vehicle commercial fleet operators, to introduce e-vehicles for intra-park commute.
OPIC invests in Aspada-backed regional hospital chain
VC Circle | June 2019
The Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, is extending a loan of $4.62 million (Rs 32 crore) to Tamil Nadu-based Be Well Hospitals Pvt. Ltd.
WayCool Foods launches 'Outgrow' to improve farm-level profitability
Business Standard | May 2019
WayCool Foods and Products Pvt Ltd has launched Outgrow - a unique farmer engagement program, aimed at transforming livelihoods of small-hold farmers by solving challenges faced during cultivation.
WHY THE REVERIE ACQUISITION BY RELIANCE IS A BIG WIN FOR INDIA
Yourstory | April 2019
Local language technologies developer Reverie Language Technologies was acquired by Reliance Industries for all the right reasons – solid returns for investors; the right rationale and fit; and wealth creation for founders and employees. It will allow Reverie – which develops end-to-end voice technology stack for delivering a complete multilingual user experience – to meet its mission of bringing Indian languages on par with English and other European languages in the digital world.
WayCool acquires ‘significant’ stake in Benani Foods
Financial Express | March 2019
Food-tech start-up WayCool on Tuesday said it has acquired a significant equity stake in Benani Foods (Freshey’s) – a Chennai based manufacturer of ready-to-cook products and food ingredients. The Chennai start-up bought the stakes of angel investors, including that of TVS Electronics for an undisclosed sum.
Private equity fund Zephyr Peacock India Growth Fund has led a INR 55 crore funding round in Aspada-backed Shiksha Finance. Shiksha will use the funding to expand its presence in Tamil Nadu, Andhra Pradesh, Telangana and Karnataka and enter Maharashtra. The company is also looking to deepen their penetration in the student loan product.
LGT Impact bets on electric vehicle fleet operator
VC Circle| Feb 2019
Zurich-headquartered investor LGT Impact has made another investment in India, backing an electric vehicle fleet operator, Lithium
WayCool Foods raises ₹120 crore in equity, debt funding
Livemint | Jan 2019
WayCool Foods and Products Pvt. Ltd, which supplies food and agricultural produce, has raised ₹ 120 crore in equity and debt from impact investors such as UK-based LGT Impact Ventures, Caspian Impact Investment Advisor Pvt. Ltd and Northern Arc Capital Ltd.
OLX GROUP ACQUIRES AASAANJOBS
Business Standard | Jan 2019
With the acquisition of Aasaanjobs (Aspada’s portfolio), a recruitment marketplace for blue and grey-collar jobs in India, OLX will further strengthen its jobs vertical. This will help address the growing requirement of over 60 million urban workforces in India valued at over USD 1 billion.
Ummeed Housing Finance raises $10M; Brings LGT Impact on board
Economic Times | Sep 2018
Ummeed Housing Finance has raised $10 million (Rs 72 crore) in its latest round of funding, bringing on board global impact investor LGT Impact. Existing backer Lok Capital also participated in the investment round.
CAPITAL FLOAT WILL ADD 0.3 MILLION CUSTOMERS OVER THE YEAR
TechCircle | May 2018
After the recent funding from Amazon, Capital Float has added new products to its portfolio and has crossed $185 M in outstanding loans. In FY19, Capital Float aims to disburse $ 77 M and add 0.3 M new customers.
CAPITAL FLOAT RAISES USD $22 M EQUITY FUNDING FROM AMAZON
Livemint | April 2018
Capital Float will use the current funding from Amazon to expand into new lending categories, develop new technological capabilities and to grow its loan book
How Bengaluru’s hyperlocal genie Dunzo is changing with funding from Google
Factor Daily | March 2018
Google's interest in Aspada backed Dunzo indicates a larger hunger of aggregating hyperlocal, transactional information in markets that hold promise for its Next Billion Initiative flywheel.
EDTECH STARTUP IMAX RAISES $13.5M FROM MSDF, LGT IMPACT AND ASPADA
YourStory | February 2018
Aspada backed IMAX program has raised $13.5M in its latest round of funding from Micheal and Susan Dell Foundation, LGT Impact and Aspada. The current infusion of funds in 2018 will be used to further innovate the product, enhance in-school service experience and expand the customer base through multiple distribution channels. IMAX will also explore working with K12 publishers internationally, to deliver high quality in-school remedial programmes to a global student base.
SUNNYBEE ORGANIZES A FARMERS' MELA IN CHENNAI
The Hindu | January 2018
Aspada backed SunnyBee("Waycool") organized a farmers' mela in Chennai and invited every farmer and farmer-producer company it sources from to either visit the market personally or to send over their crop, depending on the distance. The main motivation for farmers is to expand their business by meeting and understanding their market base. The other, interestingly, is to get better acquainted with their direct customer, SunnyBee.
GOOGLE MAKES FIRST DIRECT INVESTMENT IN INDIA, FUNDS ASPADA BACKED DUNZO
Economic Times | December 2017
Aspada backed Dunzo has raised $12M in series B funding with Google as lead investor. Existing investors Aspada and Blume Ventures also participated in the round. Dunzo is Google's first direct investment in India and a part of their Next Billion Users (NBU) push. Dunzo will use the capital to expand to 6 new cities in the next 3-4 years and scale to 100,000 transactions per day.
CAPITAL FLOAT INTRODUCES PROPRIETOR LOANS TO SUPPORT MICRO-ENTREPRENEURS IN INDIA
Business Standard | October 2017
Aspada backed Capital Float has announced proprietor loans that will facilitate financial inclusion and business growth of 5 million micro-entrepreneurs in India. The product targets the small retailer segment like salons, medical stores, kirana, mobile phone retailers, small restaurants, etc and aims to underwrite loans to credit worthy borrowers in minimal time.
AASAANJOBS VENTURES INTO THE HEALTHCARE SEGMENT AS PART OF EXPANSION
Business Standard | September 2017
Aspada backed AasaanJobs has entered the healthcare segment as part of their expansion strategy and will list vacancies for nurses, pharmacists, sales agents, home care executives, etc.
CAPITAL FLOAT RAISES $45M IN SERIES C FROM RIBBIT CAPITAL
Livemint | August 2017
Aspada backed digital lending platform, Capital Float has raised $45 million in follow-on funding from Silicon Valley-based Ribbit Capital.
EM3: BUILDING THE UBER FOR FARM MACHINERY IN RURAL INDIA
TechCrunch | August 2017
EM3 works with farmers who own equipment like tractors, harvesters and other mechanical implements by allowing them to rent out their assets on a pay-per-use basis to farmers with small holdings and limited capital.
EM3 raises $10M in Series B from Global Innovation Fund
Economic Times | August 2017
Aspada backed pay-per-use farm services company, EM3 has raised $10 million in follow-on funding from London-based Global Innovation Fund. The AgriTech company had earlier raised a $3.3 million Series A from Aspada in June 2015.
SONG exits from Eye-Q; sells stake to Hoya
VCCircle | June 2017
Eye-care clinics operator Eye-Q Vision has struck a $12 million investment deal with Japanese optical products maker, Hoya Corp, paving the way for the exit of its earliest investor - SONG Fund, which is managed by Aspada Advisors.
SHIKSHA FINANCE: THE MEETING POINT OF EDUCATION AND LENDING
Hindu Business Line | June 2017
Shiksha offers loans to low income schools and students that borrow money from private financiers at high income rates. They are now in 15 locations across TN and AP and are looking to expand to Karnataka, Kerala and Maharashtra.
Reverie to help an entire generation of Indians use phones in their local languages
Quartz India | June 2017
Reverie is using ML/AI for translation, search and data mining for complex Indic scripts and have recently helped localise BHIM, government's digital payments app, in eight languages.
Bridging the language barrier in India’s digital space
Founding Fuel | June 2017
While digital devices and the internet are reaching more and more people, content and services are not available in Indian languages. The founders of Reverie Language Technologies discuss the massive opportunity in Indian vernacular languages to unleash the next wave of growth for India's emerging technology companies.
LEAF is helping drought-hit farmers in Karnataka increase yields
Economic Times | May 2017
LEAF is advising small-farmers in the drought-hit district of Mandya on how to improve crop yields by using better seeds, less fertiliser, science, technology and inter-cropping.
Aspada's Agri Portfolio featured among a crop of new companies that are improving the state of Indian agriculture
Hindu Business Line | May 2017
Indian agriculture is plagued with small farm holdings, poor productivity, high wastage from farm to fork and low farmer incomes. EM3, INI Farms, LEAF and Arya Collateral tackle each of these problems in a scalable and profitable way.
LEAF is helping small farmers increase incomes even in a drought year
Hindu Business Line | April 2017
Lawrencedale Agro Processing is implementing the government's Integrated Horticultural Development scheme in Karnataka, and is providing support to small farmers throughout the crop lifecycle - from input management to marketing.
Capital Float is reducing wait time for business loans
YourStory | April 2017
The duration of disbursing large ticket size loans has been reduced to three days from the original seven, while the small ticket loans are disbursed in as little as 90 seconds. Capital Float offers loans in the range of Rs 25,000 and Rs 3 crore.
Reverie is powering multilingual PoS Terminals
Livemint | April 2017
Point-of-sale (PoS) terminals are expected to go multilingual by the next quarter in a step aimed at localizing cashless payments. At present, PoS machines are generally available in English or Hindi. The new languages to be introduced in the PoS terminals are Bengali, Gujarati, Kannada, Malayalam, Marathi, Punjabi, Tamil and Telugu.
Waycool raises $2.7M from Aspada
Economic Times | April 2017
Aspada has made a $2.7 million investment in Waycool Foods, an omni-channel fresh produce distribution companythat sources fruits and vegetables from farmers and aggregators. Aspada's investment in Waycool adds significant operating expertise and and logistics management to an already extensive portfolio of fresh fruit and vegetable supply chain companies.
Reverie's Indic Keyboard is made in India, for India
NDTV | March 2017
With Reverie's Swalekh keyboard, you can type a name in any script - in English or across 22 Indian languages - and regardless of the script that was used originally, the output will be in the choice of language selected. Reverie's clients include the likes of HDFC Bank, Practo, Zen Mobiles, and Intex.
Capital Float to disburse Rs 5,000 crore in SME loans in FY18
Livemint | February 2017
SME lending platform, Capital Float, disbursed Rs 1,000 crore in loans during the 10 months ended January 2017, and it expects to disburse Rs 5,000 crore in the next one year.
Reverie helps power BHIM in vernacular languages
Livemint | January 2017
Reverie Language Technologies was selected as a partner to the Indian government to help power BHIM payment app in seven regional languages. BHIM was launched in December 2016 by Prime Minister Narendra Modi to promote digital transactions using the Unified Payments Interface (UPI), a bank-to-bank fund transfer system backed by internet and smartphones, using phone numbers linked to banks.
EM3: An Uber for Agriculture
Business Today | January 2017
EM3 offers a range of interventions from soil preparation and transplantation, to harvesting and post-harvest field management, entirely on a pay for use basis. EM3's services have demonstrated to improve overall productivity by 15%-20% at costs comparable with labor-centric practices.
Aspada invests in Arya Collateral
PRNewswire | December 2016
Aspada Investment Company has made an undisclosed investment in Noida-based Arya Collateral, to strengthen the post-harvest value chain of agriculture commodities. Arya provides a range of services including aggregation, collateral management, professional warehousing and facilitation of financial and market linkages.
Aspada Invests in Shiksha Finance
VCCircle | November 2016
Aspada Investment Company has invested in Chennai-based school financing company Shiksha Financial Services. The Michael & Susan Dell Foundation invested alongside in a total round size of USD $1 million (Rs. 6.7 Cr.). Shiksha provides loans to affordable private schools to be used for educational infrastructure development. In addition, the company also provides loans to middle and lower-income families to finance school fees of their children.
LEAF raises $8M in Series B funding
Economic Times | September 2016
Aspada backed fresh fruits and vegetables supply-chain company, Lawrencedale Agro Processing (LEAF) has raised $8M (Rs. 53 Cr.) in Series B funding from Denmark-based Bestseller Foundation and Unitus Impact. LEAF supplies 7,000 tonnes of traceable, fresh produce annually to India's largest supermarkets including Nature's Basket, Future Group, Reliance Fresh, Spencer's, Nilgiri's, Metro Cash & Carry and Big Basket.
Dunzo is changing the way urban consumers in India complete local tasks
TechInAsia | September 2016
Aspada backed Dunzo is a mobile-application based platform that helps local small businesses and single person entrepreneurs provide a wide variety of local services to urban consumers. Through a human-in-the-loop chat interface, wide network of local merchants and cashless payments, Dunzo aims to make the experience of completing tasks such as couriering items, and maintenance and repair jobs seamless.
INI Farms partners with Future Group for supplying fresh fruits
Economic Times | August 2016
Agriculture supply chain company, INI Farms entered into a 50:50 joint venture with Future Group, India's largest retailer, for direct sourcing of pomegranates and bananas. Both the companies will jointly invest Rs 60 crore over next five years and work with about 12,000 farmers from Andhra Pradesh.
EM3 is increasing agricultural productivity in India, the Uber way
Economic Times | July 2016
Inspired by ridesharing companies like Uber, EM3 wants to "Uberise" farm services by bringing mechanization to small hold farmers through a Farming-as-a-Service (pay per use) model.
SME lender NeoGrowth Credit secures Rs. 108 Crore in follow on funding
Economic Times | July 2016
NeoGrowth Credit, a specialised lender to small and medium offline retailers, has raised Rs. 108 crore in a new round of funding from IIFL Wealth Management's Seed Venture Fund besides existing investors, which include Omidyar Network, Khosla Impact and Aspada.
Schedulers Logistics raises Rs. 40 Crore in Series B
Economic Times | June 2016
Gujarat Venture Fund Limited has invested Rs 40 crore in Mumbai based integrated cold chain operator Schedulers Logistics. Schedulers operates a fleet of reefer vehicles and temperature controlled warehouses across India.
Capital Float raises Rs. 170 Crore in Series B
Hindu Business Line | May 2016
Capital Float, a leading online lender for small businesses, has raised about ₹170 crore ($25 million) in a Series B round led by Creation Investments. Existing investors Aspada, Sequoia India and SAIF Partners participated in this round that valued the company at over $100 million.
Dunzo raises $650K funding
Economic Times | March 2016
Bengaluru-based Dunzo, a mobile-based concierge app to fulfill local tasks, has raised a $650K Pre-Series A round of funding from Aspada and Blume Ventures, along with angel investors including Rajan Anandan and Sandipan Chattopadhyay.
AasaanJobs secures Rs. 35 crore in funding from Aspada and existing investors
Economic Times | February 2016
AasaanJobs, a Mumbai-based online portal for blue and grey collared jobs, has raised ₹35 crore ($5 million) led by Aspada, with participation from existing investors, IDG Venture Capital and Inventus Capital Partners
S.V. Agri raises Rs. 25 Crore in Series B
YourStory | January 2016
Integrated potato supply-chain player S.V. Agri raised Rs. 25 Crore ($4 million) in a Series B round led by Lok Capital, with contribution from existing investor Aspada.
Reverie is breaking the language barrier for Vernacular Internet users
TechInAsia | August 2015
Bangalore-based full-stack language services company, Reverie Language Technologies has a solution that an app or online portal can plug in to deliver its content in vernacular Indian languages.
Reverie raises $4M in Series A funding from Aspada and Qualcomm Ventures
ETTech | August 2015
Reverie Technologies, a Bengaluru-based startup that devises local language solutions for the Internet, has raised $4 million in Series A funding in a round led by Aspada Investment Advisors, with participation from existing investor Qualcomm Ventures.
NeoGrowth Credit raises Rs. 45 crore in growth stage funding
Economic Times | August 2015
NeoGrowth Credit, a Mumbai-based NBFC that extends working capital loans to offline businesses in India, has raised Rs. 45 crore ($7.5 million) from Accion Frontier Investments Group and Khosla Impact, with participation from existing investors Aspada and Omidyar Network.
LEAF brings fresh produce to Indian consumers directly from the farmgate
YourStory | July 2015
Integrated supply chain company in the fresh fruits and vegetables space, LEAF, aggregates produce from small hold farmers and supplies to modern and general retail stores in South India, through sophisticated technological and operational interventions.
Aspada Invests USD $3.3 Million in EM3 AgriServices
PRNewswire | June 2015
EM3 is India’s first pay-per-use farm mechanization services company that is ushering in the next Green Revolution for small farmers. EM3 offers small-hold farmers mechanization services on-demand that helps improve farm productivity by over 20%.
Capital Float Scoops Up $13M From Sequoia and SAIF
TechCrunch | February 2015
Capital Float, an NBFC that provides working capital loans to SMEs in India, has raised $13 million in Series A funding led by SAIF Partners and Sequoia Capital, with participation from existing investor, Aspada.
Soros-backed Aspada invests in InI Farms
Business Standard | March 2015
The Aspada Investment Company, backed by Soros Economic Development Fund, has made a commitment to invest Rs 20 Crore in Mumbai-based InI Farms Pvt Ltd, which operates across fresh fruit value chains in crops such as pomegranate and banana
Aspada invests $2 million in Allfresh
Economic Times | September 2014
George Soros-backed Aspada has invested $2 million (Rs. 12 Crore) in New Delhi-based Allfresh Supply Management, its third investment this fiscal.