$210M, 5 funds, 44 companies: Elevar Equity's modus operandi

One of the harshest impacts of the COVID-19 pandemic was felt by the low-income community whose grievances were exacerbated by a 'no-supply' problem. However, many companies were unable to solve for their needs due to unsustainable margins.

This is where Bengaluru-based impact investing firm Elevar Equity steps in to fund early-stage startups building solutions for low-income communities.

Founded in 2008 by Sandeep Farias and Johanna Posada, the venture capital fund looks at solutions that generate and encourage inclusivity, are affordable, and can be deployed at scale — all while being able to show profitability.

"We believe that the DNA of the company needs to be low-income focused to increase and optimise the chances of success," co-founder Sandeep Farias tells YourStory.

To date, Elevar Equity has deployed $210 million in capital across five funds, and in 44 companies. The fund is estimated to have impacted 45 million households across India and Latin America, where it has also been investing, and created nearly 75,000 jobs.

The Interview: Cloud ERP for startups 

Yantra and Oracle NetSuite, in association with YourStory, hosted a webinar on ‘How Cloud ERP Enables Digital Transformation for Startups.’ The webinar deep-dived into solving people-related challenges, process inefficiencies, cost overruns, and more using a cloud-based ERP (enterprise resource planning) system.

Editor’s Pick: Tilaknagar Industries

While the coronavirus pandemic disrupted the alcobev industry, Mumbai-based Tilaknagar Industries managed to stay afloat, clocking revenue worth over Rs 501 crore with a profit after tax (PAT) of Rs 9.78 crore in Q3 ended December 2021.

The company, which is known for producing quality brandies, wants to establish a deeper connection with the youth. It is looking at expanding to regions within the eastern parts of the country. Read more.

Startup Spotlight

A genetic test for better health 

How about a genetic map that can provide personalised wellbeing recommendations? Founded by Rahul Ranganathan and Dr Balamurali AR, NuGenomics combines multiple information points from a user to create a comprehensive picture of current and future health.

Among other tests, the startup’s product offerings include genetic test report, which helps people understand their pre-dispositions towards cholesterol, HDL, LDL, Triglyceride, and blood sugar levels along with several other conditions to help their existing trainers and nutritionists. Read more. 

News & Updates

• Life Insurance Corporation (LIC) of India said it expects its initial public offering (IPO) to be priced at Rs 902 to Rs 949 apiece, valuing the 3.5 percent stake of the insurer being sold at Rs 19,970 crore at the upper end of the range.
• Mumbai-based telehealth platform Truemeds has raised $22 million in a Series B funding round led by private equity fund WestBridge Capital. The new round also saw participation from existing investors including InfoEdge Ventures, Asha Impact, and IAN Fund. 
• Widespread burnout and lack of flexible work continues to hinder progress in supporting working women, according to the latest Deloitte report, “Women @ Work 2022: A Global Outlook” released on Tuesday.
• Union Transport Minister Nitin Gadkari announced that India would welcome a Tesla manufacturing plant, but would not accept imported sales from China.
• Venturi Partners, a Singapore-based investment platform that invests in brands in India and Southeast Asia, has said that its maiden fund has hit its final close of $175 million.
• Startup funding and mentoring platform Clarion Call 5.0 is now open for registrations. Promising startups can pitch their business ideas to over 5,000+ angels and 7+ institutional investors who have committed a corpus of over Rs 65 crore.

Read more: [https://yourstory.com/2022/04/startup-news-updates-april-26-credavenue-corpository-cactus-kreditbee/amp]

Before you go, stay inspired with… 

“Being powerful is having the ability to empower others. The more you empower others, the more powerful you actually are.”

— Arundhati Bhattacharya, Chairperson and CEO of Salesforce India

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