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


One of the most severe impacts of the COVID-19 pandemic has been felt by the low-income community whose grievances have been exacerbated by a “non-supply” issue. However, many companies have been unable to meet their needs due to unsustainable margins.

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

Founded in 2008 by Sandeep Farias and Johanna Posada, the venture capital fund focuses on solutions that generate and encourage inclusiveness, are affordable and can be deployed at scale, while being able to demonstrate their profitability.

“We believe that the DNA of the business should be low-income oriented to increase and optimize the chances of success,” said co-founder Sandeep Farias. Your story.

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

The interview: cloud ERP for startups

Yantra and Oracle NetSuite, in association with Your story, hosted a webinar on “How Cloud ERP Enables Digital Transformation for Startups”. The webinar went deep into resolving people issues, process inefficiencies, cost overruns, and more using a cloud-based ERP (enterprise resource planning) system.

Editor’s Pick: Tilaknagar Industries

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

The company, known for producing quality brandies, wants to establish a deeper connection with young people. It plans to expand to the eastern regions of the country. Read more.

Spotlight on startups

A genetic test for better health

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

Among other tests, the startup’s product offerings include a genetic test report, which helps people understand their predispositions to cholesterol, HDL, LDL, triglycerides, and blood sugar levels as well as several other conditions to help their existing trainers and nutritionists. Read more.

Update News

  • Life Insurance Corporation (LIC) of India said it expects its initial public offering (IPO) to be priced at Rs 902 to Rs 949 each, valuing the 3.5% stake of the insurer sold at Rs 19,970 crore at the higher 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 a lack of flexible working continue to hamper progress in supporting working women, according to Deloitte’s latest report, “Women @ Work 2022: A Global Outlook,” released Tuesday.
  • Union Transport Minister Nitin Gadkari has 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, said its first fund reached its final close of $175 million.
  • The Clarion Call 5.0 startup funding and mentoring platform is now open for registration. Promising startups can pitch their business ideas to over 5,000 angel investors and over 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…

Arundhati Bhattacharya, CEO of SalesForce India.

“To be powerful is to have the ability to empower others. The more you empower others, the more powerful you truly are.

— Arundhati Bhattacharya, President and CEO of Salesforce India

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