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1947 Rise ☀️: 330
Reset, InsuranceDekho, GoMechanic & more!
1. Indian unicorns sitting on lofty valuations with higher revenue multiples than global peers
Nearly half of the country’s 107 unicorns that have filed their financial reports for FY22 have a last-twelve-months average revenue multiple of around 30, according to data compiled by Moneycontrol, higher than most geographies, where such multiples are in the range of 15–20 for high-growth companies, investors and bankers said.
2. Insurtech startup InsuranceDekho raises $150 million in Series A round led by Goldman Sachs and TVS…
Insurtech startup InsuranceDekho on February 14 announced that it has raised $150 million in a mix of equity and debt in Series A funding led by Goldman Sachs Asset Management and TVS Capital Funds, coming at a time when the Indian startup sector is still reeling under the impact of the prolonged funding winter.
Investcorp, Avataar Ventures and LeapFrog Investments also participated in this round. Founded in 2016 by Ankit Agrawal and Ish Babbar, InsuranceDekho is the insurance arm of the car-selling unicorn CarDekho.
Though Agrawal, co-founder and CEO, declined to comment on the valuation of this round, according to a Mint report from November it was being pegged at around $450–500 million.
A podcast 🎙
1947 Rise ✨
“Previously 95% of the class (IIT) would move to the US. Now there is a trend where 95% is not moving.
They are either joining a startup or doing a startup”.
This was a special one 🔥
In this episode we covered:
- Anand’s journey of growing up in India and what made him move to the US.
- Anand’s framework of moving back and his learnings while working at companies in India.
- What drove Anand to angel investing and what was his first angel investment?
- Something that Anand knows now he wishes he knew earlier about angel investing.
- Anand’s transition to full-time venture capitalist and how did General Catalyst happened?
- Thesis of GC for India.
- What kind of change would Anand like to see in the Indian ecosystem?
- Anand’s take on the layoffs happening in the US.
- Who is Anand outside of work
Watch the full conversation ☀️ https://bit.ly/3x3VGFR
Worth your attention:
GoMechanic crisis: Startup funding due diligence to get stricter and longer Link
EV startup Zypp Electric raises $25 million in funding led by Gogoro Link
Turno raises $13.8 mn from B Capital, Quona, others Link
Drone startup Garuda Aerospace raises $22 million in funding led by SphitiCap Link
Tazapay raises $16.9 million from Sequoia Capital, others in fresh funding Link