India Digest: A91 Partners, Blume back Exotel; N+1 Capital hits first close of maiden fund

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Cloud telephony platform Exotel on Wednesday announced that it has received a fresh infusion of about $6 million while revenue-based growth capital firm N+1 Capital has hit the first close of its maiden fund.

A91 Partners, Blume back Exotel

Cloud telephony platform Exotel on Wednesday announced that it has received a fresh infusion of about $6 million (Rs 45 crore) from A91 Partners, Blume Ventures and a panel of angel investors.

The angel investors include Binny Bansal (co-founder of Flipkart), Vikas Choudhury (President of Reliance Jio), Deep Kalra (CEO, MakeMyTrip), Rohan Angrish (head, ICICI Labs engineering) among others. Additionally, Anand Chandrasekaran, former Facebook and Snapdeal product leader, is joining Exotel as an advisor and mentor.

“We are at a $25 million top-line run rate and we continue to grow profitably. We are seeing significant adoption in BFSI, Auto and FMCG industries. I’m looking forward to an exciting growth phase in the year ahead. We are building the best products in communications tech, and we are looking to hire 200+ people in product, engineering and customer-facing roles,” Ishwar Sridharan, COO and co-founder of Exotel, said.

N+1 Capital hits first close of maiden fund

Revenue-based growth capital firm N+1 Capital has hit the first close of its maiden fund, per its announcement on Tuesday. It, however, did not disclose the amount raised.

The fund, which has received approval from the Securities and Exchange Board of India (SEBI) to launch as a Cat-II AIF, has a target corpus of over $100 million.

The fund also announced that it has invested in three startups – logistics automation platform ShypLite, FMCG company Clensta Technologies, and tea company Teamonk Global Foods.

N+1 Capital said it will invest in four to eight firms per quarter, and that it already has a robust pipeline for Q2 FY2022.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.