Anicut Capital

Anicut Capital is a venture capital investment firm established in 2016 and based in Chennai, India. Founded by seasoned professionals with extensive experience in commercial, private, and investment banking, the firm focuses on providing growth equity investments. Anicut Capital targets sectors such as consumer internet, direct-to-consumer brands, business-to-business services, and software-as-a-service. The firm's expertise in finance and investment positions it to effectively identify and support promising companies in these industries.

Ajay Anand

Partner

Ilayaarunachalam Balamurugan

Co-Founder, Managing Partner and Member of Investment Committee

IAS Balamurugan

Managing Partner

Adithya Bharadwaj

Vice President, Growth Equity

Ashvin Chadha

Co-Founder

Dhruv Kapoor

Partner, Growth Equity

Veenu Mittal

CFO

Harsh Mohan

Associate, Seed Fund

Ankita Poddar

Senior Associate, Private Credit

Dhruv Ranjan

Associate Vice President, Seed Fund

I A S Balamurugan

Co-Founder and Managing Partner

A. Jayaseelan

Partner, Private Credit

Past deals in South Asia

Blue Tokai Coffee Roasters

Series C in 2024
Blue Tokai Coffee Roasters provides an online marketplace specifically to sell roasted coffee. Blue Tokai Coffee Roasters operates as a specialty coffee e-tailer for sourcing single-estate Arabica coffee beans from Indian coffee estates, burns them on an order basis, and delivers directly to customers, allowing customers to order online or visit their particular retail stores. Blue Tokai focuses on sourcing coffee beans from specific regions or estates, highlighting the unique flavor profiles of each coffee origin. They offer a variety of single-origin coffees, including beans from Karnataka, Tamil Nadu, and other coffee-growing regions in India. In addition to selling coffee beans online, Blue Tokai operates cafes in select cities across India. These cafes serve a variety of coffee beverages and provide a space for customers to enjoy freshly brewed coffee.

The Ayurveda Experience

Series C in 2024
The Ayurveda Experience is an online platform based in India that specializes in ayurvedic products, focusing on health and wellness. The company offers a diverse range of personal care items, including lotions, cleansers, serums, and hair potions, along with dietary supplements aimed at promoting hair health, vision, and blood sugar management. By collaborating with various affiliates, The Ayurveda Experience provides customers with a comprehensive selection of products designed to enhance well-being through traditional Ayurvedic principles.

Salty

Seed Round in 2024
We are making fashion accessible to women across India. At Salty, we bring forward the trendiest and most affordable fashion accessories for everyday wear

XYXX Apparels

Series C in 2023
XYXX Apparels is a retail and fashion company that offers clothing and accessories for men. It makes life interesting via functional and refreshing products with quirky designs. The company was founded in 2016 and is headquartered in Surat, India.

Uravu Labs

Seed Round in 2023
Uravu Labs, founded in 2017 in Bangalore, Karnataka, is focused on addressing water scarcity through innovative renewable water technology. The company has developed a patent-pending solar adsorption reactor that extracts moisture from the atmosphere, particularly at night, and uses solar energy to release high-quality drinking water during the day. This technology aims to provide sustainable solutions for communities facing water crises by generating several liters of potable water daily. Uravu Labs is committed to fostering resilience and sustainability in human life and communities, recognizing the urgent need for innovation within the water industry.

Blue Tokai Coffee Roasters

Series B in 2023
Blue Tokai Coffee Roasters provides an online marketplace specifically to sell roasted coffee. Blue Tokai Coffee Roasters operates as a specialty coffee e-tailer for sourcing single-estate Arabica coffee beans from Indian coffee estates, burns them on an order basis, and delivers directly to customers, allowing customers to order online or visit their particular retail stores. Blue Tokai focuses on sourcing coffee beans from specific regions or estates, highlighting the unique flavor profiles of each coffee origin. They offer a variety of single-origin coffees, including beans from Karnataka, Tamil Nadu, and other coffee-growing regions in India. In addition to selling coffee beans online, Blue Tokai operates cafes in select cities across India. These cafes serve a variety of coffee beverages and provide a space for customers to enjoy freshly brewed coffee.

The Ayurveda Experience

Venture Round in 2022
The Ayurveda Experience is an online platform based in India that specializes in ayurvedic products, focusing on health and wellness. The company offers a diverse range of personal care items, including lotions, cleansers, serums, and hair potions, along with dietary supplements aimed at promoting hair health, vision, and blood sugar management. By collaborating with various affiliates, The Ayurveda Experience provides customers with a comprehensive selection of products designed to enhance well-being through traditional Ayurvedic principles.

Snapmint

Series A in 2022
Snapmint is an online shopping platform based in Mumbai, India, that facilitates purchasing in installments without the need for credit cards. Founded in 2015, the company streamlines the buying process through a simple five-minute online application, allowing customers to access no-cost EMI plans. Snapmint offers a diverse range of products, including mobile phones, electronics, appliances, and fashion items, enabling consumers to afford their desired purchases through flexible and manageable installment payments while eliminating the complexities associated with traditional loan applications.

Uravu Labs

Seed Round in 2022
Uravu Labs, founded in 2017 in Bangalore, Karnataka, is focused on addressing water scarcity through innovative renewable water technology. The company has developed a patent-pending solar adsorption reactor that extracts moisture from the atmosphere, particularly at night, and uses solar energy to release high-quality drinking water during the day. This technology aims to provide sustainable solutions for communities facing water crises by generating several liters of potable water daily. Uravu Labs is committed to fostering resilience and sustainability in human life and communities, recognizing the urgent need for innovation within the water industry.

Wheelocity

Series A in 2022
Wheelocity is a supply chain network dedicated to addressing India's malnutrition issue by minimizing food waste through innovative, technology-driven solutions. Founded in 2021, the company has established itself as a leading provider of fresh supply chain solutions, processing nearly 700 tonnes of fresh food daily across a network that spans the entire country. Wheelocity aims to reshape the fresh produce market by integrating various components of the supply chain, including collection centers, distribution centers, and logistics, to create an efficient and optimized ecosystem for perishable goods such as fruits, vegetables, dairy, poultry, and meat. By leveraging advanced technologies like artificial intelligence and the Internet of Things, Wheelocity enhances transparency and efficiency in its operations, facilitating a faster and more sustainable process for delivering food from farms to consumers. Ultimately, the company’s mission is to eliminate food waste and combat hunger through effective management of supply chain resources.

Wheelocity

Debt Financing in 2022
Wheelocity is a supply chain network dedicated to addressing India's malnutrition issue by minimizing food waste through innovative, technology-driven solutions. Founded in 2021, the company has established itself as a leading provider of fresh supply chain solutions, processing nearly 700 tonnes of fresh food daily across a network that spans the entire country. Wheelocity aims to reshape the fresh produce market by integrating various components of the supply chain, including collection centers, distribution centers, and logistics, to create an efficient and optimized ecosystem for perishable goods such as fruits, vegetables, dairy, poultry, and meat. By leveraging advanced technologies like artificial intelligence and the Internet of Things, Wheelocity enhances transparency and efficiency in its operations, facilitating a faster and more sustainable process for delivering food from farms to consumers. Ultimately, the company’s mission is to eliminate food waste and combat hunger through effective management of supply chain resources.

Neemans

Series B in 2022
Neemans is a footwear startup that offers natural fiber footwear for men and women. The company's products are made from natural and renewable Australian Merino wool that evaporates sweat and moisture and offers a lightweight, breathable, sock-free, and temperature regulating experience. It was co-founded by Taranjeet Singh Chhabra and Amar Preet Singh in 2018 and is based in Hyderabad, Andhra Pradesh, India.

Earth Rhythm

Series A in 2022
Earth Rhythm is a direct-to-consumer personal care brand based in India, specializing in professional-grade products for haircare, skincare, and makeup. As the country's first homegrown brand to prioritize independent clinical trials and research, Earth Rhythm emphasizes smart and safe skincare solutions. The company offers a diverse range of non-toxic and plastic-free products, including face masks, toners, hair oils, shampoos, conditioners, lipsticks, and lip balms, all formulated to address various concerns such as acne, dehydrated skin, hyperpigmentation, dark circles, and signs of aging. Each product is developed in-house by trained cosmetic chemists, ensuring that the formulations are effective, safe, and supported by scientific research. Earth Rhythm is committed to creating products that are beneficial both for consumers and the environment.

Neemans

Series A in 2021
Neemans is a footwear startup that offers natural fiber footwear for men and women. The company's products are made from natural and renewable Australian Merino wool that evaporates sweat and moisture and offers a lightweight, breathable, sock-free, and temperature regulating experience. It was co-founded by Taranjeet Singh Chhabra and Amar Preet Singh in 2018 and is based in Hyderabad, Andhra Pradesh, India.

Aknamed

Venture Round in 2021
Aknamed is focused on enhancing the healthcare supply chain in India by providing procurement solutions tailored for hospital chains and mid-sized standalone hospitals. Utilizing its proprietary technology and analytics tool, SmartBUY, the company aims to standardize healthcare service delivery. Aknamed's platform integrates various stakeholders, including brand owners, field force, distribution hubs, and customers, into a unified system that operates in real time. This comprehensive approach enables hospitals and medical manufacturers to improve transparency and optimize costs within their operations.

Blue Tokai Coffee Roasters

Funding Round in 2020
Blue Tokai Coffee Roasters provides an online marketplace specifically to sell roasted coffee. Blue Tokai Coffee Roasters operates as a specialty coffee e-tailer for sourcing single-estate Arabica coffee beans from Indian coffee estates, burns them on an order basis, and delivers directly to customers, allowing customers to order online or visit their particular retail stores. Blue Tokai focuses on sourcing coffee beans from specific regions or estates, highlighting the unique flavor profiles of each coffee origin. They offer a variety of single-origin coffees, including beans from Karnataka, Tamil Nadu, and other coffee-growing regions in India. In addition to selling coffee beans online, Blue Tokai operates cafes in select cities across India. These cafes serve a variety of coffee beverages and provide a space for customers to enjoy freshly brewed coffee.

Neemans

Seed Round in 2020
Neemans is a footwear startup that offers natural fiber footwear for men and women. The company's products are made from natural and renewable Australian Merino wool that evaporates sweat and moisture and offers a lightweight, breathable, sock-free, and temperature regulating experience. It was co-founded by Taranjeet Singh Chhabra and Amar Preet Singh in 2018 and is based in Hyderabad, Andhra Pradesh, India.

Bira 91

Debt Financing in 2019
Bira 91 is a craft beer brand established by B9 Beverages in 2015, initially producing its beers in Belgium before shifting production to India. The company operates five breweries across India, utilizing ingredients sourced from France, Belgium, the Himalayas, and Bavarian Farms to create a diverse range of beers. Bira 91 offers various styles, including low bitterness and high alcohol wheat beers, catering to consumers seeking unique and flavorful beverages. The brand has expanded its reach to over 600 towns and cities across 18 countries and has formed a partnership with Kirin Holdings, a Japanese beverage conglomerate. Bira 91 beers are available in multiple formats, including draft, 330ml bottles, 650ml bottles, and 500ml cans, appealing to a broad audience of beer enthusiasts.

Bira 91

Series B in 2019
Bira 91 is a craft beer brand established by B9 Beverages in 2015, initially producing its beers in Belgium before shifting production to India. The company operates five breweries across India, utilizing ingredients sourced from France, Belgium, the Himalayas, and Bavarian Farms to create a diverse range of beers. Bira 91 offers various styles, including low bitterness and high alcohol wheat beers, catering to consumers seeking unique and flavorful beverages. The brand has expanded its reach to over 600 towns and cities across 18 countries and has formed a partnership with Kirin Holdings, a Japanese beverage conglomerate. Bira 91 beers are available in multiple formats, including draft, 330ml bottles, 650ml bottles, and 500ml cans, appealing to a broad audience of beer enthusiasts.

Agnikul

Seed Round in 2019
Agnikul Cosmos Private Limited, founded in 2017 and based in Chennai, India, is a space technology startup specializing in the design, manufacture, testing, and launch of orbital-class rockets tailored for micro and nanosatellites. The company operates from the National Center for Combustion R&D at IIT-Madras, where a diverse team of rocket scientists, engineers, ex-bankers, and space lawyers collaborates to advance their capabilities. Agnikul's launch vehicles are mobile and can be deployed from various launch ports, utilizing kerosene as fuel. They are engineered to reach both low and high-inclination orbits, providing businesses with on-demand access to space at competitive prices.

Snapmint

Seed Round in 2018
Snapmint is an online shopping platform based in Mumbai, India, that facilitates purchasing in installments without the need for credit cards. Founded in 2015, the company streamlines the buying process through a simple five-minute online application, allowing customers to access no-cost EMI plans. Snapmint offers a diverse range of products, including mobile phones, electronics, appliances, and fashion items, enabling consumers to afford their desired purchases through flexible and manageable installment payments while eliminating the complexities associated with traditional loan applications.

Yaantra

Debt Financing in 2018
Yaantra is a Delhi-based company that specializes in the sale of refurbished, unboxed, and preowned mobile phones, along with a variety of accessories such as power banks, USB cables, adapters, and chargers. Founded in 2013, Yaantra provides mobile and tablet repair services, allowing users to book appointments and check the status of their repairs. The company operates in major Indian cities including Delhi, Gurgaon, Ghaziabad, Faridabad, Noida, Bangalore, and Mumbai, offering quality repair services for various issues such as broken screens, water damage, and software problems. Yaantra emphasizes customer satisfaction by providing quality-assured refurbished smartphones at competitive prices while ensuring that clients can manage the entire lifecycle of their devices conveniently. As a subsidiary of Gadgetwood eServices Pvt. Ltd., Yaantra serves a diverse clientele across the country.

PopiCorn

Debt Financing in 2018
PopiCorn is a ready-to-eat popcorn brand that has 6 different flavors. The company upgraded its production to a full-fledged factory as the demand increased manifold, making the brand grow exponentially. Popicorn aims to contribute to a proud legacy that India has and makes more and more people fall in love with this delicious, low calorie, easy access snack.

Aereo

Seed Round in 2018
Aereo, established in 2013 in Bangalore, India, is a leading homegrown drone manufacturing and solutions company. Specializing in enterprise applications, Aereo provides advanced drone technology across various industries, including urban and rural development, agriculture, mining, construction, irrigation, forest conservation, renewable energy, and infrastructure development. The company offers state-of-the-art survey-grade drones that enhance data collection and analysis, significantly improving operational efficiency. Aereo's drones are capable of processing over fifty thousand images per instance, allowing for comprehensive visual quality checks and efficient data management. Notably, Aereo has mapped more than 34,000 villages in India, positively impacting over 45 million lives. As a pioneer in the field, Aereo introduced India’s first DGCA-certified survey-grade PPK drone, the Aereo INP, while striving to elevate productivity and environmental sustainability through innovative aerial intelligence. The company is supported by prominent early-stage investors, reflecting its position as a key player in the drone technology sector.

Bira 91

Debt Financing in 2017
Bira 91 is a craft beer brand established by B9 Beverages in 2015, initially producing its beers in Belgium before shifting production to India. The company operates five breweries across India, utilizing ingredients sourced from France, Belgium, the Himalayas, and Bavarian Farms to create a diverse range of beers. Bira 91 offers various styles, including low bitterness and high alcohol wheat beers, catering to consumers seeking unique and flavorful beverages. The brand has expanded its reach to over 600 towns and cities across 18 countries and has formed a partnership with Kirin Holdings, a Japanese beverage conglomerate. Bira 91 beers are available in multiple formats, including draft, 330ml bottles, 650ml bottles, and 500ml cans, appealing to a broad audience of beer enthusiasts.

Lendingkart

Debt Financing in 2017
Lendingkart is a financial technology company based in India that focuses on providing working capital loans and financing solutions for small and medium-sized enterprises (SMEs). By utilizing technology and data analytics, Lendingkart assesses the creditworthiness of businesses swiftly, enabling a fast and convenient loan approval process. The company aims to meet the financing needs of SMEs that often struggle to secure traditional bank loans due to insufficient collateral or credit history. Through its online platform, Lendingkart offers a user-friendly experience for businesses seeking funding, allowing them to apply for loans online and receive funds promptly, thereby supporting their growth and operational needs.

ShareChat

Seed Round in 2016
ShareChat is an Indian social media startup. It offers the content consumption and sharing platform only in Indian vernacular languages to cater to over 1.17 billion wireless network users of India. It is available in 15 Indian languages. The company was founded in 2015 and is headquartered in Bangalore, Karnataka.
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