Startups Funded by Blume Ventures

Michelle D'souza Michelle D'souza
Jan 29, 2021 8 min read
Startups Funded by Blume Ventures

Blume is an inaugural investment fund that offers both capital and direct mentoring assistance to start-ups. They normally invest in technology-based startups led by entrepreneurs obsessed with addressing difficult issues, which are unique to India and have an effect on wide markets. Their vision is to be the main line to support the best new start-ups in India - encouraging them to 'Blume.' It is one of the most prolific and valued VCs of India today, with 22 exits, more than 75 involved portfolio startups and $225 million in capital management.

Blume has participated in the B-to-D rounds of online learning company Unacademy, the robotics company Gray Orange, the Gadget repair firm Servify and the insurance company Turtlemint, the shipping company Dunzo, the makeup company Purplle. With its third 102 million dollars fund and acquisitions in early stage technology-led start-ups, Blume has closed the fund.

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How does it help Startups to grow?

Filled the void
Filled the void 

In 2010, Blume Ventures was started by Karthik and Sanjay to rethink entrepreneurship funding for India. In 2010. They did so by the creation of an unconventional venture company which could operate at the pace but be institutionalized in its approach of an angel investor.

This start-up investment fund has grown and funded transformative projects and passionate entrepreneurs in three funds to become a core player in the start-up ecosystem of India. They participated in and contributed to the construction of over 100 startups, in geographical and vertical areas.

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What kind of Startups does it Invest in?

They aim to spend roughly 60–65 percent of the new fund in domestic heavy industries, including medical services, financial services, tourism, exchange and brands, employment and education, and digital media and entertainment. Other companies that innovate and engineer with local talent pools, and still scale internationally, are the software (Cloud, IT, analytics, SaaS, vertical software) and deep technology (agritech, defense, robotics, IoT, blockchain).

This list of organizations invested in by Blume Ventures:

1. Dunzo

Dunzo Logo
Dunzo Logo

In pre-series A round of funding led by Aspada Investment Advisers and Blume Ventures, Chat-based regular tasks management software dunzo has increased $650K (around INR4.4 Cr). Ankur Aggarwal, Dalvir Suri, Mukund Jha and Kabeer Biswas began Dunzo in 2015. The startup features a chat gui, which enables users to create to-do lists and cooperate with partners (sellers) to accomplish them. It uses AI (artificial intelligence) and human operators to offer solutions for the everyday tasks of consumers. The rates of 10,000 'moments of customer enjoyment' now run every month.

In four areas – sending, ordering, fixing, and home services – Dunzo currently offers solutions. Personal assistant chat applications easily catch up in India. These applications use chat to interrupt local exchange in the region, estimated to be an industry of $750 billion.

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2. Unacademy

Unacademy Logo
Unacademy Logo

India's got a new unicorn start-up.  Unacademy revealed a new $150 million funding round for online learning located in Bangalore. Unacademy helps students train for challenging tests and those taking graduate courses to enter a program. In its app, students view teachers' live classes and then participate in conferences to further review subjects. In recent months, a host of high-profile personalities, such as the Indian politician Shashi Tharoor, have conducted online interviews on a variety of subjects, which have extended their reach to the students.

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3. BeatO

BeatO Logo
BeatO Logo

The health technology start-up BeatO revealed it will all enter the extremely complex Southeast Asian market. The startup will make its debut on the ASEAN market by first releasing its products on the Singapore market. This promotes the treatment and regulation of diabetes. It is the first ever international expansion of BeatO and in accordance with the company's long-term goal of entering a region where patients with diabetes are more penetrated. Singapore is perfectly tailored to the bill because it has a 10.5% diabetes rate relative to the 8.8% global average.

The business says that the COVID 19 pandemic has helped greatly. It claimed that the COVID 19 accelerated digital healthcare adoptions and noted improved participation rates with a much higher level of blood sugar testing, diabetes educators and platform consultations. In a Series A round in early 2020, the health-tech startup raised USD 4.1 million and to date raised USD 7 million in funding. Leo Capital, Blume Ventures and several others are some of its famous investors.

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4. LoveLocal

LoveLocal Logo
LoveLocal Logo

LoveLocal, which was created by Akanksha Hazari, digitizes the neighbourhood shopping experience and organizes local Indian retailers. By allowing local distributor companies like e-tailers to digitize customer relations, and perform tailored promotions and loyalty, LoveLocal brings district stores across segment, internet and convenience, with the best possible distribution, operation, credit and freshness promised by local retail companies, to handle all household business and tasks in one area.

In addition to the prominent investors of angel, including Kevin Aluwi's CEO and Co-Founder of Gojek and Survir Varma, M.Paani recently raised US$ 5.5 million in the Series A funding round led by AC Ventures, Henkel, and Candy. The round was also attended by established investors Chiratae Ventures and Blume Ventures.

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5. Purplle

Purplle Logo
Purplle Logo

Purplle is funded by Blume Ventures, IvyCap Ventures, JSW and more than 30 million dollars earned by Goldman Sachs and Verlinvest last year. The Spring Marketing Capital fund has invested in Purplle, the beauty e-commerce website, for the first quarter, $1 million from the company's maiden fund. In late 2011, Taneja (CEO) and Rahul Dash co-funded the Mumbai-based startup, and the website came into being in January 2012.

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6. SquadStack

SquadStack Logo
SquadStack Logo

In Series A funding round led by Chiratae Projects, San Francisco and New Delhi-based SalesTech start-up SquadStack raised $5 million (nearly INR 36.8 Cr). This round was also attended by the company's current investor, Blume Ventures. This funding is used by SquadStack to drive product development and attract top product, technical and data sciences talent in the United States and India.

In 2014, Apurv Agarwal, Rishabh Ladha and Vikas Gulati, Kanika Jain were formed by SquadStack. The platform increases the productivity of customers who sells high-tech goods and services in sectors like immovables, financial services, education, health care and the retail industry. In 2018, SquadVoice, which was rebranded as SquadIQ in the Indian markets, also began its Sales Acceleration.

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Blume Ventures funds in the subsequent financing rounds of Funds I, IA and II portfolio start-ups. The fund has a 24-month funding cycle and startups as they have business openings. By mid-2020, the organization plans to participate in the fund. As of now, it has previously invested in Fund IIA, Unacademy, Grey Orange, Servify, Turtlemint and Dunzo, Purplle and IntrCity.

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