Hope you had a good Diwali! Eloelo sure did, with portfolio shining bright this festive season | Newsletter Issue #68 | October '24
WaterBridge Ventures
We back missionary founders just as they set out to change the world!
Monthly Spotlight
Deep Dive Into Our Choice Story Of The Month
Eloelo records 5X growth in ARPPU in 5 months and doubles user base to cross 85M users; tops Entertainment chart
India's Gen Z is using social media apps as more than just text messaging—they're seeking to build genuine human connections online. Social giants such as Instagram and YouTube have failed to fill this gap.
?Live-streaming platform Eloelo stepped in to fulfill this need for belonging. Saurabh identified that people want to find others who are like them, share similar interests and communicate in their language. Eloelo's live audio and video chats with creators made users feel more connected. With features such as Player Knockout Battles and in-app virtual gifting options, creators are incentivised to lean in and earn a livelihood.
As a result, Eloelo's popularity skyrocketed, particularly among the Bharat and Tier 2+ audience. Eloelo's strong PMF led to exponential growth in ARPPU, which has grown 5X since launching monetisation.??
In the process, Eloelo has leapt ahead of behemoths such as Disney+ Hotstar, ZEE5, Netflix and JioTV to become the #1 Entertainment app on Google Play.? ?
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Portfolio Milestones
Notable Updates From Our Portfolio
Atlan recognised among the top metadata management tools by TechTarget
As organisations ingest more data, they encounter data sprawling - disparate & unorganised data that leads to incorrect insights. Metadata management tools improve data governance and prevent sprawling. Recognised as a Leader in The Forrester Wave Data Catalogs, Atlan features a custom metadata builder that allows users to personalize their data stacks, giving them greater control over their metadata.
Magicpin hits 150K daily orders for food delivery and logistics on ONDC
With this, magicpin became the largest food delivery seller app on the Open Network For Digital Commerce (ONDC) , recording an impressive fifteen-fold increase in daily orders from May 2023. With 70K restaurant partnerships on the platform, Magicpin has touched double-digit food delivery market share in major cities, with 10%+ market share in Delhi and Bengaluru. Today, 90% of ONDC food orders from prominent buyer apps such as Paytm , Tata Neu and Ola are fulfilled by Magicpin.?
Adster files its first US patent application with USPTO??
Adster's plug-and-play technology stack helps publishers turbocharge their stagnating revenue from ad monetisation. This patent covers Adster 's innovative approach to reducing latency and enhancing ad yield for its publisher partners. The filing is a significant milestone in Adster's journey, showcasing their pioneering approach to SDK meta-mediation and orchestration.
Fairdeal crosses 10K orders within 4 months of inception
Retail intelligence platform Fairdeal.Market helps regional and global brands tap offline presence, diversifying away from expensive e-commerce and online distribution channels. Fairdeal's data-backed full-stack offline distribution service, consisting of a network of 10K+ retailers, helps D2C brands establish multiple touchpoints with consumers. This impressive milestone demonstrates the superior execution capability of the co-founders Prateek Bansal and Yash Bansal and their amazing team.?
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Newsflash
WBV Founders In The News
Priya on how Chalo is revolutionising bus travel in India, on Mint 's Founder Diaries
Priya Singh , co-founder of India's #1 bus transport technology company Chalo , delved into her reasons for leaving a glorified government job to come to Mumbai and help her husband Mohit Dubey start up, why it is compelling and necessary to streamline public transportation in India, how Chalo is leading that revolution in 66 cities & Chalo's experiments with conductor-less buses.
Prukalpa on how engineering founders are driving innovation, at TechCrunch Disrupt?
On the power-packed panel featuring Christine Yen ( honeycomb.io ), Anand Babu Periasamy ( MinIO ) and Karthik Ranganathan ( Yugabyte ), Prukalpa ? shared her raw and focused insights on how data infrastructure is shifting as customers gear up for integrating AI into their organisations, what will remain unchanged in the face of technological advancement and what enterprises need to know as they navigate an AI-first world. ?
Chunky on essential skillsets that CFOs need, on ET CFO Blueprint
On S02 E04 of The Economic Times CFO Blueprint, Chunky Shah , SVP & Head of Corporate Development & Finance at Magicpin, alongside CA Manish Porwal - Proud Rvgian ( Infra.Market ) and Sanket Deodhar (SD) ( SAP ) shared his thoughts on how CFOs are uniquely positioned to drive the organisation as Chief Growth Officers, acting as bridges between key stakeholders, balancing bandwidth between core finance functions and long-term strategy and being tech-savvy to assimilate data effectively.
Prateek sharing the stage with "Three Musketeers" at TiE Rajasthan
On the panel moderated by Sharad Bansal ( Warmup Ventures ), alongside Dhruv Kohli ( Boba Bhai ) and Anupam Kumar ( Mini Mines ), Prateek interacted with budding entrepreneurs covering topics critical for leading early-stage startups. He spoke about having the right support network around founders, being consistent in one's efforts, remaining grounded and laser-focused on execution and continuously learning and upskilling while on the job.
Vinayak Bhavnani on the importance of investing in enriched data sets, on ET CIO
Chalo's sophisticated predictive modelling and AI-driven technology stack has enabled real-time tracking of buses, saving passengers up to 90 minutes of daily wait time. To accurately forecast bus arrival times, the model considers the type of the bus, route characteristics and time of the day. This requires collecting and processing vast amounts of data, made possible by harnessing Snowflake 's ability to handle large schemas, merge query sets, derive insights, visualise complex data and monitor internal metrics.
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WBV Insights
Thought Leadership From Our Team
Manish featured on "Two GPs Walk Into A Bar" podcast with Oister Global?
In his conversation with Rohit Bhayana , Co-CEO & Co-Founder of Oister Global , Manish Kheterpal touched upon the backstories of some of WaterBridge Ventures 's investments - from a 30-min meeting with Mohit of Chalo that ended after 10 hours, to demonstrating tangible value to Prukalpa in her journey from SocialCops to Atlan . Manish also shared his views on the importance and ability of holding onto fund winners, and his advice for emerging fund managers about raising capital.?
Anjali moderates IVCA's AltCap101 kickoff
Indian Venture and Alternate Capital Association (IVCA) hosted AltCap101, an initiative to empower fund managers with the tools and knowledge to stay ahead of India's evolving alternative investment landscape. To promote this initiative, Anjali Sosale hosted a panel with Mohandas Pai ( Aarin Capital ), Tejesh Chitlangi ( ICULAW ) and Divyansh Nasa ( EY-Parthenon ), covering topics such as fund structuring and tax implications, LP dynamics while fundraising, regulatory landscape around fund formation and delivering exits & secondaries as fund managers.
Tejas Jain derisking India's SMEs from $15B in annual losses, with BimaKavach?
India Inc. loses $8B/year to natural calamities. Even one incident of this scale can bankrupt an MSME. Yet 93% of such risk exposures are uninsured. Business insurance is expensive, inaccessible and lacks standardised underwriting. BimaKavach steps into the rescue with 78% of its property & liability policies being sold to new-to-insurance SMEs. So far, BimaKavach has insured 2.5K+ clients with 99.7% retention, generating $3M per annum of gross written premium. ?
Raj as a speaker on CleverTap's webinar for startups
On the panel alongside Shashank Randev ( Randev Ventures (Family Office) ), Raj Nayan Datta interacted with a group of early-stage founders, covering an investor's perspective about early-stage pitching best practices such as the relative importance of founder pedigree vs market while signing the first institutional cheque, elements of a perfect pitch for a pre-seed startup, north-star metrics for founders to focus on and how MIS reporting and depth of governance evolve as companies scale.
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The Dots That Make the Picture
Celebrating Diwali
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Read?about WaterBridge, our?Portfolio & Team:
Founder & Director at Rising Live Agency | Digital Marketer | Financial Advisor | Journalist.
1 周Very informative
Solar Engineer at Solarium Green Energy
1 周Very informativeaàaaaaaaaaa
maphood.com
1 周Revenue is also important as Koo had reached users milestone of over 100 million but failed to generate revenue! Building a social media app is definitely tough but a social network which is built on subscription could be a winner in the crowded space