Top 5 Startups Funded By Lightspeed Ventures in India

Bhoraniya Huda Hifzur Rehman Bhoraniya Huda Hifzur Rehman
Feb 7, 2022 5 min read
Top 5 Startups Funded By Lightspeed Ventures in India

β€Œβ€ŒStartups are the future of the business world. However, not all startups can climb the ladder of success. There are many reasons for the failure of startups. Some can fail due to an unclear concept of a startup. Some startups fail as they can't attract their needed audience.

Irrespective of the failure, there are a few reasons which can eventually stop the successful startups also at limited growth. One of the biggest reasons is funds. Not having enough funds for the startup can also cause issues in the growth of startups. However, there are few venture capital firms providing funds to newly started startups. They work by providing funds and buying shares from early budding startups.

After some time, when the startup has already started climbing its success ladder, they take back their funds to invest in other companies but with the addition of profit earned from earlier investment. One of such firms is Lightspeed.

Lightspeed venture capital firm is a global company providing multi-stage investments to different field startups. Lightspeed focuses more on the investment in the field of enterprise technology, consumer, and healthcare industry. They have their services expanded to multiple countries and have a history of backing up more than 400 different firms.

Some of the startups funded by Lightspeed in India are:

Yellow Messenger
BlueLearn
Magicpin
Craftsvilla
Darwinbox

Yellow Messenger

Money Raised Funding Round Lead Investor
$4 million Series A Yes
$20 million Series B Yes
Yellow Messenger Logo
Yellow Messenger Logo

Yellow Messenger is an AI-based company established in the year 2015 by the joint efforts of Jaya Kishore Reddy, Raghu Kumar, Rashid Khan, and Anik Das. It is a Bangalore-based startup.

Yellow Messenger is considered the world's largest AI-sourced tool used for conversational engagement platforms. It is majorly used to provide the clients with multiple facilities such as marketing, servicing, acquiring and also enable them with the service of supporting customers on message and call.

Yellow Messenger helps its clients with things that circle enterprise intelligence and customized conversational bots. Yellow Messenger raised the series A funds from Lightspeed of about $4 million and $20 million in series B.

BlueLearn

Money Raised Funding Round
$450k Pre-Seed Round Yes
Bluelearn Logo
Bluelearn Logo

BlueLearn is an educational-based platform founded in the year 2020 by the teamwork of Harish Uthayakumar and Shreyans Sancheti. It is also a Bangalore-based startup.

BlueLearn was earlier just a community on a Telegram. From there, it was converted into a different platform enabling the students to find everything in one place. BlueLearn is a one-place platform for students to learn new skills, network with peers, and also apply for internships. With the funds, they are planning to hire the best talents and grow their platform to fulfil the demands of their highly increasing customers. BlueLearn managed to raise the amount of $450k in its pre-seed funding round.


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Magicpin

Money Raised Funding Round Lead Investor
$3 million Series A Yes
$7 million Series B Yes
β‚Ή1.4 billion Series C Yes
β‚Ή293 million Series C Yes
Magicpin Logo
Magicpin Logo

Magicpin is a reward-based application connecting hyperlocal merchants with several customers. It was started in the year 2016 by Anshoo Sharma and Brij Bhushan. Magicpin is a Gurgaon-based firm.

Magicpin is a reward-back platform. It allows its users to purchase products from several merchants available on its platform. Users get the tokens on the use of a Magicpin application for the purchasing of products or paying up the bills through its application. And all the merchants advertising them on its application need to pay the platform fee along with transaction fees to the Magicpin.

Craftsvilla

Money Raised Funding Round Lead Investor
$1.5 million Series A No
$34 million Series C No
Craftsvilla Logo
Craftsvilla Logo

Craftsvilla is an Indian e-commerce platform launched in the year 2011 by Manoj Gupta. It is a Mumbai-based startup.

Craftsvilla is an e-commerce platform known for selling multiple products such as ethnic appraisal, footwear, handbags, etc. Craftsvilla is popular for its unique Indian product identity. They are known to also sell ethnic Indian products through their platform.

Lightspeed has backed up Craftsvilla from the start. There were multiple funds received from Lightspeed to Craftsvilla. Along with Lightspeed, different venture firms have also funded Craftsvilla each year. The most recent funds received by Craftsvilla from Lightspeed is about $1.5 million.

Darwinbox

Money Raised Funding Round Lead Investor
$4 million Series A Yes
Darwinbox Logo
Darwinbox Logo

Darwinbox company provides cloud-based human resources solutions to their clients. It was introduced in the year 2015 by Chaitanya Peddi, Jayant Palette, and Rohit Chennamaneni. It is a Hyderabad-based startup.

Drawinbox was initiated with the vision of creating a change in the interaction between the workforce and technology. It provides complete solutions from hire to retirement process. They are known to provide multiple services such as HR Voicebot, Advanced Talent Analytics, Candidate Shortlisting, OCR-based expense scans, etc.

Drawinbox also had its backed up by multiple capital ventures from the start itself. Drawinbox received $4 million as its first fund from Lightspeed and other ventures.


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Conclusion

Lightspeed venture capital firm was established in the year 2000. They are known to provide funds to unique concepts and highly potent startups during the early years of startups. With this step, they can invest in a good source and allow the startup to bloom well. Some of the most well-known and famous startups funded by Lightspeed have been given above.

FAQ

Which are some of the successful companies backed up by Lightspeed in the past?

Lightspeed has supported many startups over time. Some of the most famous and well-known companies are Snapchat, Affirm, Byjus, OYO Rooms, etc.

Who are the founders of Lightspeed?

Lightspeed was founded in the year 2000 by Chris Schaepe, Barry Eggers, Ravi Mhatre, Peter Nieh.

What is meant by venture capital firms?

Venture Capital firms are those investors who provide funds to startups and newly opened small businesses as a part of the investment. They provide investments to the companies believed to have long-term growth potential and then receive their profits from the success of the business.

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