Serial investor Sanjay Mehta-led venture capital firm 100X.VC finally revealed the first 20 seed-stage startups it has invested in at its VC Pitch Day event in Mumbai on December 7. As part of its approach to back startups which have a strong competitive edge and a solid founding team, 100X.VC plans to invest in over 100 seed-stage startups by 2020.
The firm, which was launched in July 2019, has received 1,982 applications so far. Out of this, consumer goods and services made up for 31% of the application, followed by B2B software and services startups with 22% and healthcare startups with 7%. The firm has also received applications from agritech, automotive, blockchain, edtech, governance and fintech, among many others.
These startups include:
- Dhiyo.ai (GoDhiyo Solutions Private Ltd)
Dhiyo.ai is a HRTech platform that relies on multilingual conversational AI-powered technology to employ the blue collar workforce.
- Pickright (Pickright Technologies Private Limited)
Pickright is a fintech platform that connects investors and financial analysts for financial advisory services.
- The Renal Project
The Renal Protech is an healthcare startup that operates a chain of dialysis micro-centres.
- Decadenz (Outlier Foods Private Limited)
Decadenz is a Gurugram-based startup working in the consumer goods that creates chocolate-based products.
- Litifer (Litifer Technologies Private Limited)
Litifer is an information technology & services startup that develops artificial technology (AI)-powered voice interactive toys for 4-10 year old children.
- Finline (Fynamics Business Solutions Pvt. Ltd)
Finline is an online platform for entrepreneurs to create “Project report” for there business unit to facilitate fundraising and bank loan approvals.
- Cymour (Renacle Cycling Private Limited)
Cymour is a Pune-based bicycle sharing platform that provides cycles for gated communities and events.
- SNUG (Human Tales Technology Private Limited)
Snug is a business network platform that allows users to meet talent experts around their area.
- AgriGator (Anati Technologies Pvt Ltd)
AgriGator is a digital platform that connects traders, processors, wholesalers, and carriers to mage the agriculture supply chain more efficient and transparent.
- DOC32 (Abita Innovations Private Limited)
Doc32 is a dental care startup that leverages on technology to connect customers to dentists and clinics.
- Road Metrics (RoadMetrics Pvt Ltd)
Road Metrics provides a way to monitor road conditions real-time and navigates users to the most time-saving and safe route possible.
- Reko Social (Gramini Solutions Private Limited)
Reko is an influencer marketing platform, which pays users based on the content they share.
- Foodmonk (Foodmonk E-Commerce Private Limited)
Foodmonk is a foodtech startup that provides end-to-end solution for cafeteria management to corporates and institutions.
- Data Sutram (Extrapolate Advisors Private Limited)
Data Sutram is an AI-backed platform that gathers intel from external data to provide location-based data intelligence.
- Karnival (Karnival Internet Technologies Private Limited)
Karnival is a sales and marketing platform that provides personalized invoices for companies, specifically brick & mortar retailers.
- Bueno Finance (Bueno Gig Growth Technologies Pvt Ltd)
Bueno Finance is a fintech startup that helps blue-collar workers built their creditworthiness to improve the long-term financial health of the customers.
- Knorish (Knorish Frameworks Private Limited)
Knorish is an edtech startup that allows has users to create courses, market and monetise an online academy for branded digital coursework.
- Pocketly (Pocketly Infotech Private Limited)
Pocketly is a microlending platform that focuses on college students and building a financial ecosystem around them.
- Alluzo (Ekeekaran Ventures Private Limited)
Alluzo is a digital multilingual receipt book, which helps small businesses generate and send digital invoices.
- FnV Farms (FNV Infotech Solutions Private Limited)
FnV Farms is a grocery delivery service that provides fruits and vegetables directly sourced from the farm avoiding adulteration.
100X.VC’s Sanjay Mehta has invested in over 130 startups across various verticals in his individual capacity. Besides Mehta, the newly launched fund also has got prominent names on its board, which includes Yagnesh Sanghrajka as CFO, Shashank Randev as founder VC, Ninad Karpe as Partner and Vatsal Kanakiya as CTO.
To make the investment process faster, 100X.VC relies on India Safe notes or iSAFE notes (India Simple Agreement for Future Equity). It is an alternative to a convertible note for investments, which takes time and thorough checking, Whereas, India Safe notes allows an investor to make cash investments in return for a convertible instrument that allows an investor to buy shares in a future priced round.
The new investment instrument shortens the investment process considerably by evaluating companies for future rounds easily. It has eliminated the time-consuming diligence criteria like the requirement of the pre-money or post-money valuation reports and long term-sheets and agreement contracts with their provisions.
Using iSAFE, 100X.VC will be investing in 100 startups every year. It will also help startups by providing expertise and resources to craft a scalable business model.