The CapTable Wrap: The reinvention of Kunal Bahl, PharmEasy’s growth spurt, a speedier Grofers, & more
It’s not uncommon for entrepreneurs to moonlight as investors. But few have been as aggressive and as prolific as Snapdeal’s Kunal Bahl and Rohit Bansal, whose transition and growth The CapTable, YourStory’s subscription product, profiled last week. The team also wrote on PharmEasy’s growth strategy and Zomato-backed Grofers’s decision to reach a premium category of shoppers with 15-minute grocery deliveries.
Read on for a roundup of The CapTable articles from last week.
The Snapdeal cofounders have emerged as the most prolific seed investors in India. As more established investment firms scramble to grab a share of promising early stage startups, their investment company Titan Capital has become increasingly aggressive, striking at least 50 investments in just the first six months of this year. Snapdeal, meanwhile, strives to find relevance again.
Through multiple buyouts, PharmEasy owner API Holdings has emerged as India’s largest and most well-funded online pharma. Making money in this sector will get tougher with the entry of Tata Group and Reliance Industries. But PharmEasy, with its unconventional Thyrocare acquisition, is set to enter the high-margin diagnostics business as it seeks to consolidate its leadership position.
The e-grocer is preparing to launch express deliveries, a premium category. With investment backing from Zomato, Grofers will compete with Swiggy’s Instamart, Dunzo and BigBasket. Shortly after The CapTable published this, Zomato launched a 30-45 minute grocery delivery service in Delhi. Grofers is expected to list on Zomato as a store, and eventually become the anchor store.
For the California-headquartered social marketplace for second-hand fashion, India will be its third international market after Canada and Australia. Its operations here would give Poshmark a bump up in active users and also open up one of the world’s largest smartphone user base for its business. But managing growth in India’s fashion ecommerce market can be hard.
Despite regulatory uncertainty in India’s crypto sector, venture capital firms are flocking to back domestic crypto startups. Months after CoinSwitch secured $25 million from Tiger Global, Vauld roped in Peter Thiel’s Valar Ventures for a $20 million investment. Elevation Capital, Sequoia Capital and Lightspeed Venture are also looking to invest in domestic crypto startups.