Mobility industry in India has long eluded sustainable unit economics. Should we write it off? - October 2022
Vertex Ventures SE Asia & India
Sector Agnostic VC ? Seed, Series A/B focused ? Investor- Operator model ? Southeast Asia & India based ? Global minded
October 2022 Edition (#17)
Dear reader,
We are in the midst of the festive season in India and South East Asia, and these are the days when you realize just how many people are moving around in our cities!
With increasing urban migration and commercialization, we are finding that existing transportation solutions are no longer sufficient to meet the needs of a young and mobile population. For instance, India has more owned vehicles than the entire population of the USA, as well as one of the largest public transport networks in the world – yet the market is under penetrated.
?At Vertex Ventures SEA & India, we have been early believers in mobility and logistics solutions and have backed companies like Grab, Xpressbees (BusyBees Logistics Solutions Pvt. Ltd.) and Janio Asia .?
As part of our thesis, we have recently?led a Series A investment in BeepKart, an online platform for sale and purchase of used two-wheelers in India. India has over 240 million cars and two-wheelers on the road and 13 million sold each year. As consumer behavior matures, used vehicles present an economical alternative to buying a new vehicle which depreciates in value once it leaves the showroom. BeepKart aims to be the platform of choice for consumers and will bring in the trust, transparency and financing assurance which has been lacking in the two-wheeler segment.
And there’s more to come! My colleagues?deep dived into the mobility landscape?and we believe the space is becoming interesting with the emergence of new business models around micro mobility, electric vehicles and related infrastructure, financing and insurance solutions and auto parts supply chains.
Happy Reading!
PORTFOLIO SPOTLIGHT
Indian Used Two-wheeler Store Beepkart Raises US$9 M in Series A
BeepKart , a full-stack online platform of used 2-wheelers raised US$9 million in its Series A round, led by Vertex Ventures Southeast Asia & India. The fresh funds will be channeled towards building the digital user journey and scaling the business geographically. Here's why we invested:
Indonesian E-grocery Startup Cosmart Raises US$5 M Seed Funding
Indonesian e-grocery startup Cosmart has raised US$5 M in a seed funding round that saw participation from Vertex Ventures Southeast Asia & India, East Ventures, Lightspeed Venture Partners and other angel investors. Through Cosmart’s membership model, users can buy essential goods at cheaper prices.
ISE Foods Holdings to Construct Singapore’s 4th Commercial Egg Farm
Our portfolio, ISE Foods Holdings (IFH) has received in-principle approval from the Singapore Food Agency (SFA) to develop Singapore’s fourth local egg farm. Upon completion in 2024, the farm will be able to produce 360 million eggs and up to 5 million day-old-chicks annually.
Janice Wong opens in Selfridges London
Vertex's portfolio and multi-award-winning chef @Janice Wong launches her eponymous confectionary brand Janice Wong at Selfridges in London on the week of 3 October 2022. The move marks the entry of one of the first Asian brands into Selfridges and heralds a new chapter for the Singaporean confectionary brand as it looks toward expansion in the UK and into Europe.
CELEBRATIONS
Heartiest Congratulations to our colleague Joshua Agusta , Executive Director and portfolio Validus ’ Cofounder and Group CEO, Nikhilesh Goel , who made it to the annual Gen.T List which recognises 300 Leaders of Tomorrow shaping Asia's future.
Our family has grown! We warmly welcome Himanshu Jain and Clarissa Kartika , our newcomers to the Vertex Family!
领英推荐
VERTEX PERSPECTIVES
The Mobility landscape in India --?a Deep Dive
The mobility market is at its inflection point, where a shift to electric will bring about drastic changes in consumer behavior and the outlook for allied businesses. Private investments in mobility and logistics tech have also been on a steady rise, barring a Covid-led dip in 2020. These are strong tailwinds driving and facilitating innovations across the industry.?Check out this article for more.
Science Fiction on the Factory Floor is More Real than you Think. How Good is the Tech?
Industry 4.0 has risen to the forefront with tailwinds around the impact of COVID and geopolitics of global supply chains. Writing as a guest columnist on The Business Times, our Senior Associate Abhijit Gupta sheds some light on how we sieve through the tech and innovations abound in the burgeoning industry of Smart Manufacturing, on the second entry of The Business Times ‘Due Diligence’ column.
SEA Needs to Grow Together and Produce More Quality Unicorns
“The purpose of a business is to achieve profitability. This is a discipline that all companies should have, regardless of macroeconomic conditions,” says General Partner Carmen Yuen in an interview with E27, expounding her view on how startups in the SEA region can move forward in uncertain times. She also touches upon ClimateTech, and notes its pressing relevance for the SEA region.
Recession Run: These Sectors will Thrive in a Downturn
With the recent economic downturn leading to a frosty funding winter for startups across the region, what does investor sentiment look like, and how should startups be adapting? Speaking in an interview with Tech in Asia, Partner Puiyan LEUNG shares in her view which sectors will be more resilient amidst global macroeconomic headwinds.
NEWS
Indonesia-based online restaurant startup dailycompany brings halal Indonesian cuisine to Singapore with its first location at Supply Chain City, Jurong
The Parentinc welcomes Rahul Welde as their new Independent Non-Executive Director to its board
Our Partner Puiyan Leung was interviewed by Her World on?Why female-led businesses get less funding – and what we can do about it
D2C fresh meat brand Licious launches its plant-based meat range, ‘UnCrave’, to drive adoption of alternative meat products in India
?In this short video by Vertex Holdings , our Managing Partner Ben Mathias shares 3 quick and useful tips on how to pitch to a VC
ABOUT US
Vertex Ventures Southeast Asia and India (VVSEAI) invests in high-growth start-ups seeking their first round of institutional venture capital funding in Southeast Asia and India.
VVSEAI has a long and strong track record of investing in early-stage startups and building champions like Grab, Patsnap, 17Live, Nium, FirstCry, Licious, AsianParent, Validus, Warung Pintar, and others. Visit?www.vertexventures.sg?for more.
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