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<ul><li>In an exclusive interview with Business Insider, the million dollar men Mukul Arora, Deepak Gaur and Mayank Khanduja, of <keyword id="161314" type="COMPANY" weightage="20" keywordseo="SAIF-Partners">SAIF Partners</keyword> sit down to discuss how they invest in <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword>.</li><li>They are now willing to go as early as possible in the fund cycle of a startup. </li><li>SAIF Partners has been an early investor in <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, MakeMyTrip, Swiggy, Firstcry, BookMyShow, Rivigo, Meesho, Sharechat, Urbanclap and multiple others. </li></ul>In one of Gurugram’s hottest properties, in a swanky new space, we walked into the office of SAIF Partners. Huddled in the conference room were Mukul Arora, Deepak Gaur and Mayank Khanduja, men who have made million dollar bets in the Indian startup ecosystem – most of which have taken off and how. SAIF Partners has invested early in most top startups that saw a meteoric rise— like Paytm, MakeMyTrip, Swiggy, Firstcry, BookMyShow, Rivigo, Meesho, Sharechat, Urbanclap and others. The investment firm stood with them through the growth phase of these startups. Investing at the seed stage and Series A round has always been their strategy. They are now more leaning towards investing early. They meet more than 100 companies in a week, but with few breakthroughs. We sat down with Arora, Gaur and Khanduja, as they discussed what they look for in a company. “Our approach is to invest in the best team in place. We have a very focussed approach to investing - unlike some other funds which invest in multiple companies in the sub sector, we map out each sector and try to invest in the best in them, and come in as early as possible,” said Gaur. SAIF Partners invests across sectors – consumer tech, education, finance, healthcare, internet and IT services, logistics, mobile and SaaS companies and more. The second leg of their approach to investing is a fundamental one – looking for the right business model. They look for companies that are customised for India, rather than replicate what’s happening in other countries. The third aspect is that they continue to support and invest in those companies as their horizons are fairly long. “We invest for 7-9 years. We try to invest as much we can according to our fund circumstances across multiple rounds,” said Gaur. So what’s the trick to getting funded by them? A team that has a very fundamental approach to problem solving, where it understands how to solve a real problem in the right manner. It has to be a strong and ‘rightly motivated’ team – which is not creating short term goal or scale but sustainable impact. And of course, capital efficiency in the initial stages. How they cracked Swiggy SAIF Partners invested in Swiggy, when the foodtech unicorn had just a landing page. They had met over 50 teams in the foodtech space, including some of the large names out there today. What they liked about Swiggy was that they understood the problem deeply – the only way is to deliver food on your own, when you have your own logistics in place and — not just build an app for ordering. “First time, we pinged them even before they were live, they just had a landing page in July or August 2014. Then we saw the progress – they were very customer-obsessed even at a small scale, their retention was very strong, they were not offering discounts, charging a convenience fee on every order. They also have a complimentary founding team - Harsha is a very strong business leader, Nandan is great in operations and Rahul is a strong tech guy. Then we invested in the seed round,” said Arora. Could they have predicted then that Swiggy would today be a marker leader? “No,” comes the answer. “But that’s true for the entire consumer tech market, acceleration has happened much faster than we could have imagined in the last four years. But given their building blocks we were sure that this is the team that is likely to be a leader. We had a strong conviction,” said Arora. Why do they go after seed-stage startups As the internet penetration in India has gone deeper, so has a startup’s ability to reach out to more consumers. This has also led to investors going in after startups at an early stage, catch them before they become the hotshot company that everyone’s after. “We are now willing to go even earlier than in the past. We are even talking to companies that are in the pre-launch phase,” said Arora. A big reason for that is that the adoption of these new products or services by consumers is so much faster. “People are so much more open to trying out some of these new products and see if they are satisfying. We had invested in No Broker long time back, we knew that there would be a market for a real estate transaction without a broker. They took two-three years to build a user base but when they started to monetise, I think everyone was pleasantly surprised to see how many people were willing to pay the money. If there’s a high quality service out there, consumers are now more willing to pay,” said Khanduja.

SAIF Partners invested in Swiggy when they just had a landing page – today they are going after more seed stage startups, here’s why

<ul><li>Logistics startup <keyword id="3156357" type="PERSON" weightage="20" keywordseo="Rivigo">Rivigo</keyword> has raised $65 million in its Series E round.</li><li>This funding, which came in from Warburg Pincus and <keyword id="161314" type="COMPANY" weightage="20" keywordseo="SAIF-Partners">SAIF Partners</keyword>, is a part of its ongoing Series E round. </li><li>The startup’s last reported valuation was $950 million and with this funding it could have crossed the $1 billion mark to be a unicorn.</li></ul>Logistics startup Rivigo raised $65 million in its latest Series E round. The funding came in from PE firm Warburg Pincus and SAIF Partners. Rivigo’s last reported valuation was at $950 million when it raised the earlier tranche for the Series E round, in February. With the new round, Rivigo could have become India’s latest unicorn, although it’s not confirmed yet. “We continue on our mission to make logistics human and digital. Relay trucking is now very well established where relay truck pilots lead better life and customers gets exceptional service. With technology and freight marketplace, we now want to bring relay to every truck in the country,” Deepak Garg, chief executive of Rivigo, said in a <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/warburg-pincus-saif-partners-lead-65-million-funding-round-in-rivigo/articleshow/70171852.cms">statement</a>. Rivigo and its competitor <keyword id="53463" type="COMPANY" weightage="20" keywordseo="blackbuck">Blackbuck</keyword> both have been racing towards the unicorn status. Blackbuck had announced its latest funding in May and it had fallen a few million short of being a unicorn. It is also currently valued at $950 million. Blackbuck had raised $150 million from Goldman Sachs Investment Partners and Silicon Valley-based Accel, along with Wellington, Sequoia Capital, B Capital and LightStreet and existing investors Sands Capital and International Finance Corporation.

Rivigo raises $65 million in its latest round as it stands at the door of the unicorn club

<ul><li>Insurtech startup <keyword id="4943836" type="PERSON" weightage="20" keywordseo="Acko">Acko</keyword> has raised $65 million in a series C round. </li><li>Founded by Varun Dua in 2016, the startup has marquee investors like Amazon, Accel Partners, SAIF Partners among others. </li><li>This funding round takes Acko’s <keyword id="51393" type="PERSON" weightage="20" keywordseo="valuation">valuation</keyword> to a reported $300 million. </li></ul>Insurance technology startup Acko has <a href="https://www.vccircle.com/binny-bansal-others-invest-65-mn-in-digital-insurance-startup-acko/">raised</a> $65 million from <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword>, former Flipkart co-founder, and Kabir Misra, former SoftBank Managing Partner. The series C funding round with a <a href="https://www.vccircle.com/binny-bansal-others-invest-65-mn-in-digital-insurance-startup-acko/">reported</a> valuation of $300 million also saw participation from Intact Insurance (Canada’s property and casualty insurer) and existing marquee investors like Amazon, Accel Partners, SAIF Partners and TechPro Ventures. Acko, was founded by Varun Dua in 2016, and has gone on to make its mark in the Indian insurtech industry. In the recent past, Acko has been signing partnerships one after the other venturing into different verticals within insurance. The insurtech startup tied up with <a href="https://www.thehindubusinessline.com/money-and-banking/acko-partners-goibibo-for-travel-insurance-foray/article26006200.ece">Goibibo</a> to offer travel insurance to the latter’s users. Acko also partnered with <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/acko-general-insurance-partners-with-driveu-to-provide-trip-cover-for-car-owners/articleshow/66118573.cms">DriveU</a> to offer trip cover to car owners who opt to hire drivers from the latter’s platform. Interestingly, the startup also formed a partnership with <a href="https://economictimes.indiatimes.com/small-biz/sme-sector/au-small-finance-bank-partners-with-insurtech-firm-acko-general-insurance/articleshow/68269212.cms">AU Small Finance Bank</a> in early March to bring about customised insurance deals for their users. India has seen a slow penetration of the insurance sector but things are changing now. According to <a href="https://economictimes.indiatimes.com/industry/banking/finance/insure/insurance-industry-to-touch-280-billion-by-fy20-assocham/articleshow/65740339.cms">reports,</a> the Indian insurance industry is set to grow to $280 million by 2019-20. India has also seen a surge in insurtech startups with the likes of Policybazaar also gaining unicorn status. See Also: <a href="https://www.businessinsider.in/indias-two-startup-icons-switch-to-the-other-side-as-venture-capitalists/articleshow/67420444.cms">India’s two startup icons switch to the other side — as venture capitalists</a> <a href="https://www.businessinsider.in/heres-why-binny-bansals-021-capital-placed-its-bets-on-the-two-year-old-legal-tech-startup-spotdraft/articleshow/68198106.cms">Why India’s Unicorn Founders Backed This Barely Two-Year-Old Legal Tech Startup</a> <a href="https://www.businessinsider.in/after-minting-1-billion-from-flipkart-sale-sachin-bansal-is-now-betting-big-on-ola/articleshow/67526383.cms">Watch Out Uber. Sachin Bansal Gets Ola Share After Selling Flipkart</a>

This Indian insurance startup may be worth $300 million in just over two years

<keyword id="2534329" type="UNKNOWN" weightage="100" keywordseo="Home-healthcare">Home healthcare</keyword> plays an important part in ensuring better patient outcomes. Upto 75% of hospital re-admissions are potentially avoidable, and more and more people are looking to hire home health care services as a way to lessen the incidents of re-admittance to the hospital, receive better follow up care, increase communication between patients and providers and decrease medication errors. That’s where <keyword id="3116728" type="UNKNOWN" weightage="20" keywordseo="Care24">Care24</keyword> comes to play 
 
Services 
 
Founded by Vipin Pathak, Abhishek Tiwari, Garima Tripathi, and Pranshu Sharma, Care24 is one of the India’s few funded home-healthcare startups. They provide personal and affordable healthcare assistance to patients within the comforts of one's home. Services dispensed include nurses, attendants, physiotherapists, nutritional guidance, pregnancy care, cancer care and infant care. 
The company has also recently launched new lines of services that includes pharmacy delivery, surgical consumables delivery, diagnostic services and medical equipment services As patients need the continuity of care at home to recover physically, mentally, psychologically and emotionally fast with ease and comfort Care24 acts as an extended arm for the hospitals at their homes. 
 
Traction &amp; Monetisation Model 
 
“Care24 is targeting to expand their business across all metros in the country within the next 12 months. Care24 has recently started their Delhi operations and will soon launching their services in Bengaluru, Hyderabad, Chandigarh and Ahmedabad during the next quarter. Also they are planning to take the patient count to 2,500 per day from the current 900 per day,” quoted Vipin. 
 
Talking about the monetisation model, Vipin stated that they’re basically using three funnels: 
 
Payment – Done through online and conventional channels directly to Care24. Care24 then processes payment to caregivers and other healthcare professionals strictly to the linked accounts. 
 
Partner services – Revenue sharing model with the Partners rendering other services through us. 
 
Supply Creation - Stringent screening, in-house training, Care24 backend tech onboarding and then assignment and feedback based extension. 
 
Funding and Competition 
 The company has already closed a $4 million Series A from <keyword id="161314" type="COMPANY" weightage="20" keywordseo="SAIF-Partners">SAIF Partners</keyword> last year and is planning to close another soon. 
 
When asked about the competition inside this market, Vipin said, “I welcome competition more than anything, because this is a new area and the category still needs to grow to solve problems of the population.”

This Home Healthcare startup is your answer for better patient outcomes

<ul><li><keyword id="2811049" type="PERSON" weightage="20" keywordseo="UrbanClap">UrbanClap</keyword> has reportedly raised ₹1.6 crore from <keyword id="6379357" type="PERSON" weightage="20" keywordseo="kalyan-krishnamurthy">Kalyan Krishnamurthy</keyword>. </li><li>This is Kalyan’s second personal <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword>, while the first one was B2B <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> Moglix. </li><li>The home services startup includes Ratan Tata, SAIF Partners, Accel Partners among others in its list of existing investors. </li></ul>Gurgaon-based home services startup UrbanClap has raised ₹1.6 crore from <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> CEO Kalyan Krishnamurthy, according to <a href="https://www.business-standard.com/article/companies/after-moglix-flipkart-ceo-kalyan-krishnamurthy-bets-big-on-urbanclap-119040900054_1.html">paper.vc,</a> a business intelligence firm. The Gurgaon-based home services startup UrbanClap has a list of existing marquee investors like SAIF Partners, Ratan Tata, Accel Partners and Bessemer Venture Partners. Prior to this investment, the startup had raised funding of $50 million in a Series D round from Steadview Capital Management and existing investor Vy Capital in November 2018. UrbanClap had also recently <a href="https://bestmediainfo.com/2019/03/urbanclap-unveils-new-campaign-with-ayushmann-khurrana-as-brand-ambassador/">announced</a> that Bollywood star Ayushmann Khurrana is its brand ambassador. The startup, which was founded in 2014, offers services at home for its customers. In almost five years in the business, the startup has garnered more than 35,000 trusted and verified professionals on the platform that serve more than 500,000 customers each month, across 10 cities in India (including Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Pune). The startup also made its international debut by expanding its offerings into Dubai. Meanwhile, Flipkart CEO Kalyan Krishnamurthy has been upping his investment game. He made his first solo investment in the B2B startup Moglix. The investment amount remains undisclosed. Kalyan during his earlier stint as Managing Director at investment firm Tiger Global had made investments in Nestaway, Curefit etc. See Also: <a href="https://www.businessinsider.in/here-are-the-25-most-popular-workplaces-in-india-according-to-linkedin/articleshow/68704338.cms">Here are the 25 most popular workplaces in India, according to LinkedIn</a> <a href="https://www.businessinsider.in/large-ticket-deals-drive-rise-in-private-equity-investments-in-india-this-year/articleshow/68296615.cms">Large ticket deals drive rise in private equity investments in India this year</a>

Flipkart CEO Kalyan Krishnamurthy places his bets on home services startup UrbanClap

<keyword id="681957" type="ORGANIZATION" weightage="100" keywordseo="Bigtree-Entertainment">Bigtree Entertainment</keyword>, the parent company of India’s biggest movie and entertainment ticketing portal <keyword id="600792" type="UNKNOWN" weightage="100" keywordseo="BookMyShow">BookMyShow</keyword>, has been valued at more than Rs 3000 crore in the latest funding round. 
 
The company also raised over Rs 550 crore, mostly by US-based growth fund Stripes Group, in what could be called as one of 2016’s largest rounds of funding for an internet company. 
 The round also saw an active participation from all the existing investors of the company, viz. <keyword id="320882" type="COMPANY" weightage="100" keywordseo="Network-18">Network 18</keyword>, <keyword id="144381" type="COMPANY" weightage="100" keywordseo="Accel-Partners">Accel Partners</keyword>, and <keyword id="161314" type="COMPANY" weightage="100" keywordseo="SAIF-Partners">SAIF Partners</keyword>. 
 "We will continue to invest in enhancing user experience through our data analytics engine , and building contextual entertainment content including videos, reviews, discovery," <keyword id="6567822" type="PERSON" weightage="100" keywordseo="Ashish-Hemrajani">Ashish Hemrajani</keyword>, CEO and cofounder of BookMyShow, told <a href="http://economictimes.indiatimes.com/small-biz/money/bookmyshows-parent-company-bigtree-entertainment-raises-over-rs-550-crore/articleshow/53058255.cms">ET</a>. 
 
Hemrajani added that they now have enough capital to invest in strengthening its leadership position for the coming three years. 
 
The funding raised in this round is more than double of the total capital that the company raised over the last six years. 
 
<a href="http://www.dqindia.com/wp-content/uploads/2016/03/bookmyshow.jpg">Image source</a>

Bigtree Entertainment valued at more than Rs 3000 crore in
latest funding round

New Delhi, Mar 2 () Online used car retailing platform Spinny on Monday said it has raised USD 43.7 million (about Rs 315 crore) funding led by Fundamentum Partnership (FP), a growth-capital fund backed by Nandan Nilekani and Sanjeev Aggarwal. The series-B round also saw participation from new investors, US-based General Catalyst Partners, Korea-based KB Financial Group and existing investors Accel, SAIF Partners and Alteria Capital as co-investors, a statement said. Ashish Kumar, Partner, FP will join the Spinny board, it added. The funds will be used to invest in technology, strengthen business teams, enhance customer experience and, expand to newer cities, it added. Spinny had raised its seed round from Blume Ventures and Simile Ventures, and most recently it had closed its Series A round of USD 13.2 million co-led by SAIF Partners and Accel in April last year. It is currently present across four cities in India and has sold close to 10,000 cars through its platform. "The FP team was impressed with Spinny team's ability to use technology to solve for operational friction in the business, and thereby build a sustainable advantage," Nandan Nilekani, co-founder and Chairman, FP said. This fits into FP's thesis of backing long term-oriented entrepreneurs to solve complex business problems using technology and who aspire to build a company at scale and to last, he added. "With the closure of this round of funding, we are excited to have on-board new investors Fundamentum, General Catalyst and KB Financial Group in our journey and, look to leverage their vast experience across both venture and operating roles," Spinny co-founder and CEO Niraj Singh said. According to industry reports, for every new car sold in India, approximately 1.3 used cars are sold. Currently, the Indian pre-owned car market stands at about 4.3 million units sold annually, growing at about 14 per cent CAGR. However, only about 18 per cent of the market is organised. Founded in 2015 by Niraj Singh, Mohit Gupta and Ramanshu Mahuar, Spinny is a tech-enabled pre-owned car platform. Its online-to-offline (O2O) model allows customers to discover cars online on Spinny's website and make the final purchase offline at a Spinny Car Hub. SR ANSANS

Spinny raises USD 43.7 mn funding led by Fundamentum Partnership

<ul><li>Bengaluru-based <keyword id="6368309" type="UNKNOWN" weightage="20" keywordseo="urban-ladder">Urban Ladder</keyword> has sacked 90 employees in order to save the company from sinking. </li><li>Reports say that the company took the step as it was unable to raise funds. </li><li>Urban Ladder has marquee investors like <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Sequoia India, Steadview Capital, SAIF Partners, Kalaari Capital, among others on its board.</li></ul>Indian furniture retail <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> Urban Ladder has <a href="https://www.businesstoday.in/current/corporate/urban-ladder-lays-off-nearly-100-employees/story/354828.html">reportedly</a> laid off about 100 employees. The startup is known to have taken this decision as it was unable to raise funds to scale. It is also struggling to attain profitability. In an interview to the <a href="https://www.thehindubusinessline.com/info-tech/short-of-funds-urban-ladder-axes-40-of-its-workforce/article27705500.ece">Hindu Business Line</a>, the startup’s founder and CEO Ashish Goel said that the move to fire employees was taken as they had no other option, for they would have had to shut down otherwise. However, Urban Ladder has clarified that the incident happened 3 months ago. "As an organization, February and March were not easy months for us, as we are a company that deeply appreciates its employees. Having said that, after taking those tough calls, we are happy to know that the employees we did part ways with have used Urban Ladder as a great stepping stone to pursue other, great opportunities within the industry and beyond. We look forward to the future as we have some exciting things in store in the upcoming few months,” said Goel. According to the official statement from the company, in February/March, 90 employees (from the head office in Bengaluru) had been let go from the organization. The previous total headcount number was 957 and now is 711 which amounts to about 25% and it also includes third party employees and resources. The startup had been looking to raise funds for the longest time but had been unable to do so. <a href="https://entrackr.com/2019/06/urbanladder-400-employee-layoff-profitability/">Reports</a> also say that Urban Ladder’s losses although reduced from last year, were still a significant amount. Its losses were ₹4.59 billion in 2016-17 and ₹1.17 billion in 2017-18. The news comes as a surprise one as Urban Ladder had successfully raised funding in the past. Some of its marquee investors include Ratan Tata, Sequoia India, Steadview Capital, SAIF Partners, Kalaari Capital, amongst others. In September 2018, reports said that, that the startup was looking to raise $30-40 million to expand its business. Urban Ladder was founded in 2012, had evolved to be a furniture brand and had even opened <a href="https://www.businesstoday.in/current/economy-politics/urban-ladder-to-raise-usd-40-million-in-new-round-of-funding/story/282010.html">offline</a> outlets in Bengaluru and Delhi NCR. See Also: <a href="https://www.businessinsider.in/ikeas-franchise-partner-ingka-group-has-invested-in-livspace/articleshow/69413088.cms">IKEA's India partner invests in a home design startup that may in turn serve the Swedish retailer</a> <a href="https://www.businessinsider.in/pepperfry-to-ipo-soon-this-investor-says-yes/articleshow/68740748.cms">An investor in Pepperfry, India’s largest online furniture retailer, is in no rush to exit</a>

You Searched For "SAIF Partners" and got 8 results

SAIF Partners invested in Swiggy when they just had a landing page – today they are going after more seed stage startups, here’s why

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Rivigo raises $65 million in its latest round as it stands at the door of the unicorn club

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This Indian insurance startup may be worth $300 million in just over two years

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This Home Healthcare startup is your answer for better patient outcomes

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Flipkart CEO Kalyan Krishnamurthy places his bets on home services startup UrbanClap

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Bigtree Entertainment valued at more than Rs 3000 crore in latest funding round

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Spinny raises USD 43.7 mn funding led by Fundamentum Partnership

PTI

Urban Ladder had to let go 90 employees to be back on track for growth

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