YourNest Venture Capital - Early-stage DeepTech & Enterprise Startup Funding from India

FUND-III

Induz is a single, integrated solution complementing all confidential computing interactions for enterprises including user management, storage and selective data delivery. It helps clients achieve the primary goal of confidential computing which is to remove dependency on a platform, and provides security on multi-cloud, hybrid and edge computing scenarios, thereby ensuring that customers are the sole owners of their digital assets, and that their workload and the respective interactions remain confidential throughout the lifecycle. Induz leverages Hardware Security Modules (HSM) and Intel’s SGX technology to offer the world’s first confidential storage and IAM (Identity and Access Management) platform. Using secure enclaves, advanced encryption and tokenisation, Induz ensures data remains private and tamper-proof, making it the ultimate choice for safeguarding critical data assets. Furthermore, Induz’s platform is highly cost-efficient, offering a significantly lower total cost of ownership compared to non-secure alternatives, saving organisations 5-10x in deployment costs. This cost efficiency makes Induz especially attractive to companies wishing to balance stringent security requirements with budget constraints. The company is designed to meet the increasing demand for secure data handling in AI, finance, healthcare and other regulated industries.

Data Security Startup Induz Raises USD 780K Funding Led by YourNest

Deepmatrix focuses on leveraging geospatial data to boost resource productivity, reduce costs, and enhance safety. They have developed a GIS platform that accelerates GIS deployment by 800%, making it accessible to non-experts. Their fully managed, cloud-native SaaS platform, ‘Singularity,’ provides end-to-end capabilities for ingesting, analyzing, and visualizing data from any source or device quickly. The user-friendly platform is data-agnostic and can handle diverse GIS datasets.

DeepMatrix Pockets Funding To Offer Geospatial Data Solutions To Businesses

QpiAI is working on vertical integration of AI and quantum computing which has a potential to scale up significantly. It is a technology startup involved in the development of hardware and software for quantum computing and they will soon build their own 25 qubit quantum computer. They are targeting applications across logistics, banking and financial services, life sciences and smart city services.

QpiAI Closes $6.5 Mill Pre-Series A Funding Led by YourNest and SIDBI Venture Capital

EtherealX is a spacetech company building the world’s first fully-reusable medium-lift launch vehicle. They are building a proprietary propulsion system and rocket engine cycle to enable efficient engine operation in both vacuum and atmospheric conditions, thereby eliminating the challenge of re-entry heat that is a limiting factor in the absolute reusability of launch vehicles. With this advanced launch vehicle, EtherealX plans to deliver payloads, including cargo, satellites, constellations, humans, or other spacecraft, into orbit with an incredible turnaround time of just 72 hours.

Spacetech startup EtherealX raises $5 million in funding round led by YourNest

Aliste is a smart home technology enabler with a USP in scalability and adaptability at a fraction of the cost. With an industry first subscription model of automating legacy home appliances at a cost of one rupee per day per appliance the company endeavours to revolutionise the contractor driven home automation model into a direct to consumer model. Before pivoting to its current asset light model, Aliste Technologies has previously featured on Shark Tank India as well.

Aliste Technologies raises $1 million led by YourNest Venture Capital and Artha Venture Fund

Datoms is a hardware agnostic platform that enables Equipment as a Service (EaaS) for asset heavy industries. It has developed a connected operations cloud that consolidates peoples, processes and machine operations onto a single platform. The platform enables human-capital heavy sectors to achieve efficiency and automate various processes related to asset maintenance and activity planning.

The data captured by its platform not only helps in optimization of asset maintenance spends, a key cost centre for OEMs, it helps create new revenue centres for OEMs, leasing companies, end customers, Insurers and Financiers. With benefits for each stakeholder in the ecosystem and a technology that is highly scalable, Datoms mission of “Connecting Machines” could be a game-changer in the Industry 4.0 set up.

Deeptech startup Datoms raise $1.2 million in Pre-Series A funding from Yournest Venture Capital

WIOM is the first external investment from Fund III. It is India’s first and largest PDOA (Public Data Office Aggregator) which is a new class of Internet delivery players allowed under the recently announced PM-WANI (Wi-fi Access Network Interface) framework by the Government of India. WIOM provides affordable and unlimited Internet to middle- and lower-middle-income households and their data packages start from as low as INR 5 per day.

WIOM’s product innovation has a scalable architecture to split fixed broadband access and costs across multiple homes, thereby making it affordable and secure. In addition, this pioneering solution gives information access round the clock to families and not just when smartphone users are at home. This technology will enable the next two billion internet users worldwide, especially from India, to get online. It is a paradigm shift in information access and is comparable to Uber’s offerings for convenience in mobility.

Telecom startup Wiom secures Rs 30 crores in seed funding

Exponent’s focus is to provide a recharging experience similar to refuelling – a natural fit for the fuel-hungry logistics space. The company’s battery pack and charging station – called the E-pack and E-pump – together unlock a 15-minute rapid charge and give a 3,000-cycle life warranty (a new industry standard) all done on a range of affordable cells.

EV startup Exponent Energy raises $13 million in funding led by Lightspeed

Miko is a companion robot which engages, educates and entertains kids in over 140 countries. It is powered by a proprietary emotionally intelligent and adaptive personality engine having a complex, conversational and multilingual AI framework. Half of Miko’s lifetime value (LTV) comes from content on subscription hardware. Three versions of the robot have been developed and marketed globally with less than US$ 15 mn in funding, and the underlying technology (with 15 patents) has potential use cases across all age groups. In October 2022, Miko acquired a majority stake in Square Off which produces AI-based automated board games.

Miko is originally a Fund II investment in which we have further invested from Fund III as part of our crossover strategy.

Robotics startup Miko acquires 70% stake in Square Off, eyes $100 million revenue by next year

VTION is a digital consumer behaviour measurement/insights platform whose patented technology can extract media-related data in real-time at a meta-tag level from Android smartphones. It has a panel of over 50,000 consumers in India, proportionately representing a population of almost 250 mn. The data captured here produces insights on audience segments for brands which are activated via existing AdTech mechanisms. It serves various stakeholders in the market such as advertising agencies, publishers, research agencies and brands giving them access to hitherto untracked and very granular customer behaviour insights while consuming media.

VTION and HUL win the coveted ‘Best Use of Technology Award’ at MRSI Golden Key Awards 2023

Dozee is India’s first contactless remote health monitoring startup. Exclusively designed and manufactured in India, Dozee tracks key vitals of the human body such as heart rate, respiration rate, oxygen saturation, sleep stages, stress-recovery and more. The contactless sensor, placed under the mattress, captures real-time body vitals without using any external wires or touching the user’s body. Its artificial intelligence (AI)-based health intelligence module detects early signs of health deterioration by continuously assessing a user’s vitals data and conducting a risk analysis.

Dozee is originally a Fund II investment in which we have further invested from Fund III as part of our crossover strategy.

Patient monitoring startup Dozee raises $6 million in funding from Prime Ventures, others

Unsecured Load for Chit Fund Subscribers, Personal Loan, Term Loan and Working Capital Loan

CredRight is a new-age digital lending company sharply focused on micro and small businesses. It has built a tech-based distribution model that facilitates institutional credit to MSMEs and individuals who are subscribers of Chit/ ROSCAs (rotating savings and credit association) by underwriting on the basis of alternate data.

Fintech startup CredRight Raises $1.3 Mn Pre-Series A Funding from YourNest and Accion

Contiinex offers a Unified Communication as a Service (UCaaS) platform which helps orchestrate and automate an end-to-end customer engagement process through the usage of bots, diallers and human workforce in a single platform. It forms an intuitive communication bridge across multiple channels and helps customers save time to manage sales operations across diverse industries.

Its Speech-to-Text engine helps customers transcribe voice recordings on a real-time basis with accuracy rates of up to 96%. Further, it also offers AI-based Quality Audit as a service which can function for Insurance, Healthcare, Consumer Banking and Retail sectors with 100% data security. This AI-powered interaction analytics tool can turn valuable unstructured data from customer conversations into actionable insights that drive customer experience decisions and strategies to automate and improve compliance and quality control, and to enhance agent performance.

Datamotive is a hybrid, multi-cloud workload mobility platform that enables seamless migration, protection and recovery of entire workloads from any source virtualisation platform to any target cloud platform. Built ground-up for the hybrid, multi-cloud datacentre, the Datamotive engine enables freedom from any on-premises virtualisation platform or any major hyperscale cloud platform.

Challenging and Changing the Hybrid, Multi-Cloud Status Quo

Subconscious Compute (SubCom) is building deep security observability, threat-model aware ML and automation of defense-in-depth for IoT devices. Its proprietary, ultra-compact agents provide deep observability into disparate endpoints without degrading their performance, generate contextual security alerts with evidence without causing alert fatigue, and can automatically enforce policies.

Cybersecurity startup SubCom raises $1 million in funding led by YourNest

FUND-II

YourNest India VC Fund II was launched in January 2017 with a focus on building world-class, enterprise-oriented opportunities from India that serve global markets. The fund thesis focuses on digitising life and work, and smart physical systems. The fund has received participation from UHNIs and multiple institutions including our anchor investor: the Indian Govt.-backed Electronics Development Fund. The fund held its final closure in January 2020 with a total capital commitment of INR 215 cr (USD 30 mn).

ACTIVE COMPANIES
EXITED COMPANIES

Robotics startup Miko acquires 70% stake in Square Off, eyes $100 million revenue by next year

Patient monitoring startup Dozee raises $6 million in funding from Prime Ventures, others

CRON AI has built an adaptive, contextually aware 3D data perception platform called senseEDGETM by reimagining and leveraging AI and deep learning to enable the next generation of autonomy across smart spaces, intelligent transport systems and mobility.

DeepTech Startup Cron AI raises $4m In Series A Led By Ventureast, Kitaki Ventures

EV startup Exponent Energy raises $13 million in funding led by Lightspeed

New-age learning for the 21st-century students

Practically offers immersive and experiential learning solutions for K12 education. It uses technologies including AI/VR/AR/MR to create lifelike experiences and is building an EdTech metaverse for enhanced learning. The solutions are delivered through a cloud-based adaptive learning platform and tied in with assessments and insightful analytics. It provides a 360-degree learning experience, and integrates all the stakeholders in the process, namely students, institutions/teachers and parents.

3rdFlix, an EdTech VFX start-up raises $5M led by Exfinity Ventures, YourNest and others

Fintech startup CredRight Raises $1.3 Mn Pre-Series A Funding from YourNest and Accion

Artificial Intelligence for the Process Industries

Uptime AI is an AI-based industrial plant monitoring software, combining predictive maintenance with explainable failure modes/recommendations and self-learning workflows to mitigate equipment failures and performance loss in process-driven industries. Its artificial intelligence engine builds unsupervised deep learning models from past timeseries, failure, and maintenance data to differentiate good and bad operation. The software analyses the real-time operational data from the plant historian (sensor database) and proactively explains and suggests mitigation steps.

Further, UptimeAI’s workflows provide maintenance information from EAM (enterprise asset management) systems to enable engineers make right decisions that are, in turn, utilised by its AI engine to continuously improve models resulting in up-to-date and high accuracy models.

UptimeAI Raises $3.5M in Funding

VR platform, Redefining design experience

Trezi is a metaverse-based virtual reality platform designed for the building industry, serving architects, interior designers, building owners and building product manufacturers/suppliers. Users can create virtual designs through project collaboration via a virtual, immersive environment. The platform enables users in different locations to simultaneously review and edit all virtual designs.

VR Startup Trezi Secures Funding To Offer Enhanced Immersive Design Collaboration

Lavelle Networks offers an SDN networking platform that provides enterprises with distributed WANs – a scalable, secure, simple solution which results in drastic enhancement of network experience, Nnetwork management and monitoring. All users, locations and cloud applications are connected using the world’s simplest SD-WAN control panel, fastest network convergence algorithms and a true network-as-a-service experience. Lavelle’s solutions are designed for large enterprises and mid-size organizations that are using, or plan to use, hybrid WAN or cloud applications and are on the path to digital transformation.

Airtel Increases Stake In SD-WAN Startup Lavelle Networks To 45.6%

Argoid enables e-commerce brands and OTT companies to provide 1:1 personalised user experience through its patented AI technology, and improves conversions, average order value and reduces bounce rates. On an average, Argoid’s customers see a minimum of 12x ROI from the revenue driven through recommendation engines and smart search engines.

AI Startup Argoid raises $1.7 M led by Yournest Venture Capital

Challenging and Changing the Hybrid, Multi-Cloud Status Quo

Orbo offers real-time super-resolution technology for video/image and contextual enhancements that address various market segments. Its Super Scan AI enables businesses to automate processes that require manual cognitive interventions, whereas its Visual AI stack adds a graphic experience layer to the businesses of brands, retailers and e-commerce companies.

Future of Investing in AI-Driven Ventures: beyond generative AI

TWID (Fashalot) is a millennials’ payment app that aggregates and joins multiple loyalty/reward points. The app takes points from banks, retail and entertainment outlets, airlines, fuel stations, F&B stores and travel companies which enables consumers to seamlessly access and redeem them across any online and offline stores. The platform empowers its users to access all their loyalty points in one place, accumulate them and utilise them in the most meaningful and rewarding way.

Advanced Electronics & Software Supplier for Electric Vehicles

On a mission to accelerate the planet’s transition to an all-electric future, ION provides battery management and battery intelligence systems to battery pack makers and OEMs that assemble batteries for EVs, Data Centres, Telecom Towers, and more. ION’s offerings include: BMS Technology License, Battery Analytics, Diagnostics, and Life Extension Software.

ION Energy gets $3.6 million in pre-Series A funding round

LightSpeed is building Lego-like processors and interconnects for data centres and near-edge cloudlets. The company is working on enabling real-time processing of rapidly growing data bandwidth-intensive applications such as video streaming, AI and cybersecurity. Its core technology IP is to integrate tiny lasers which enable multi-terabit communication between computing chips.

LightSpeedAI Labs raises undisclosed funds from Yournest, Growx Ventures

RuleZero is a legal/FinTech startup that enables stakeholder participation and capital flow in a transparent, efficient and compliant manner. Its flagship product, Hissa, manages ownership data of a company, automates share issuance process and helps in employee benefit plan (ESOP) creation. RuleZero is seeking to eliminate errors in cap tables, help founders and the management understand the complexity of liquidation preference.

Blockchain & AI based, ERP-compatible solution

KoineArth’s is a blockchain company that powers ngageN– an exclusive, invitation-only SaaS platform for brands to create NFTs for their fans, followers and connoisseurs. As the first platform to accept INR payments and support e-KYC, ngageN enables brands to create credible NFTs and engage with their fans & customers.

KoineArth raises $1.8 million funding from YourNest, others

Xpedize is a fintech company that provides a tech-enabled platform to improve upon the traditional forms of cash discounting models to eliminate its inherent limitations. It is Software with a Service (SwaS) that brings both Buyers and Suppliers on a common platform, where Suppliers offer dynamic cash discounts to receive early payments from their respective Buyers. Xpedize offers improved profitability, supply chain finance, leverages technology, provides supplier finance, improve efficiency, dynamic discounting algorithm, and cash discounting.

FUND-I

YourNest Angel Fund was launched in March 2012 and raised INR 90 cr (US$ 14 mn) that has been fully deployed its capital across 16 companies. The Fund thesis focuses on the technology-enabled sector which includes ventures in mobile, internet, cloud, software and analytics. In November 2017, the fund became the youngest fund to be ranked in Preqin’s Top 10 Alternative Assets in India.

ACTIVE COMPANIES
EXITED COMPANIES

Thriwe curates, executes, manages, value-driven consumer membership programs run by the world’s leading financial institutions and card networks. It provides its enterprise and corporate clients an ecosystem that delivers premium customer acquisition, retention and allegiance services. It has pivoted from a client focused approach (‘B2B’) to an end-customer centric business model (‘B2C’).

Thriwe targets INR 1,000 crore in revenue by 2025

Opkey is a codeless continuous testing automation platform which facilitates an organisation’s testing abilities to cope up with its changing ERP needs. Its goal is to enhance efficiency in these organisations by improving their testing processes. Powered by Generative AI, Opkey has enabled 18 Fortune 100 companies to self-configure customer configuration and cut onboarding time by 70%. Opkey is the no. 1 app on the Oracle Cloud Marketplace for Test Automation.

Opkey secures US$ 8 mn funding round led by Vertica Capital Partners

Twid is revolutionising the manner in which rewards are viewed, understood and used across platforms by enabling reward points to be ubiquitous and fungible. Through its platform, customers can save, earn and pay using ‘Pay with Rewards’. It offers a one-stop integration which allows users to pay via points in addition to conventional payment methods.

Twid raises US$ 12 mn in a funding round led by Rakuten Capital

Autonomous AI Operating Platform for financial services

Arya’s AI tech stack is designed to enable automation of multiple organisational functions and unlock value through interconnectivity, particularly for financial institutions. Its AI solutions can be deployed alongside other workflow applications to consume the process information and use it to perform tasks related to Onboarding, Insurance (Policy Issuance and Claims Settlement), Financial Underwriting, Fraud Detection and Bank Documents.

Link: https://inc42.com/buzz/aurionpro-solutions-to-acquire-67-stake-in-arya-ai/

Uniphore is a cutting-edge technology company that specialises in Conversational Service Automation (CSA) solutions. It has rapidly established itself as a global leader in voice and speech recognition, natural language processing, and AI. The company’s innovative platform enables businesses to deliver superior customer experiences by automating and optimising their customer service and support operations. In February 2022, Uniphore became a Unicorn after it raised US$ 400 mn at a US$ 2.5 bn valuation.

YourNest scores 7X return on its exit from Uniphore

India's largest and most engaged community of Moms

Momspresso is a platform with content created by, and for, multi-faceted mothers of today. The finely-brewed content on Momspresso provides answers to all parenting questions and also supports the journey of a woman. It enables mothers to express themselves in the form of text, video and audio through blogs and support groups. More than 95% of the content is user-generated and created by 12,000 mom bloggers in English, Hindi and eight other regional languages. The quality content attracts 30 mn users every month, making it India’s largest multi-lingual content platform for women.

Mamaearth parent company Honasa Consumer acquires content platform Momspresso

Cove IoT (KaHa) is one of the very few global, smart wearable technology platforms with end-to-end technology capabilities that licenses its knowhow to traditional watches, accessories and apparel companies to support their transition to the connected world. With this domain expertise, the company can support the implementation of a digital consumer experience and product roadmap to accomplish complete product creation for its customers.

Boat parent company acquires Singapore based KaHa Pte for an undisclosed amount

SmartQ is a dynamic technology company that specialises in providing innovative queue management solutions at cafeterias. With its intelligent queue management system, organisations can eliminate long waiting times, enhance customer satisfaction, and improve operational efficiency. The company’s advanced technology leverages real-time data, analytics and automation to transform traditional queues into seamless, organised and personalised experiences. With this domain expertise, the company can support the implementation of a digital consumer experience and product roadmap to accomplish complete product creation for its customers.

Compass Group acquires majority stake in food-tech startup SmartQ

Simpli5d Technologies is the pioneer of digital anti-fraud technology with guaranteed user engagement. It has multiple platforms – NLPCaptcha, NLPVideo and NLPMobile that provide excellent opportunities for brands to engage and establish high recall in the minds of their end-customers. Exited via a fire sale.

Simplify B2B Sales and Purchase Management

AahaaTech helps large and mid-market companies sell globally using DigiSell (an omni-channel ordering platform) and save costs using DigiProcure (an intelligent procurement platform). DigiSell makes a difference by accepting B2B orders online with customer-specific catalogues, pricing and promotions. DigiProcure is an affordable and accessible internal private procurement marketplace , enabling deeper penetration amongst its target customers. Exited via a fire sale.

BetaOut offers a comprehensive marketing personalisation and automation tool which marries advanced capabilities such as machine learning, behavioural intelligence, and customer segmentation, allowing E-commerce merchants to engage customers with highly personalised and contextual messaging. Exited via a fire sale.

Momark is a mobile-based marketing solution that helps merchants attract, engage and retain customers even as it provides end-customers with complete convenience of searching for merchants, exclusive deals and discounts. It enables the end-customer to earn and redeem reward points with a single tap on smartphones. Its leading-edge technology and strong analytics engine give merchants access to actionable data and analytics about their establishments and customers. Exited via a fire sale.

Portfolio of disruptive tech-enabled startups with potential Dragons including two successful exits – Uniphore, pCloudy

FUND-III

FUND-II

FUND-I

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Data Security Startup Induz Raises USD 780K Funding Led by YourNest

DeepMatrix Pockets Funding To Offer Geospatial Data Solutions To Businesses

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