Every Monday, I sit with my team to review the funding activity of the previous week. Then, I pick out a few companies that I would have loved to invest in or find founders doing similar things from that list. Here is my rationale behind this weekly exercise.
Last week 27 startups raised $847 million; the impressive number streak continues with 113 startups raising in the previous 28 days! These numbers could quickly pale in comparison if global investors continue to pump money into India and the streak of M&As continues!
This week, 22 deals were in the early-stage rounds (compared to 23 last week), making my weekly analysis cut. After sifting through the news (aggregated from Tracxn, Inc42, and YourStory), I picked three as my favorite funding news from last week!
Name: Neverinstall
Amount Raised: $375K from Speciale Invest
What does Neverinstall do?
Edited from Yourstory: Neverinstall is building a cloud platform to bring any graphical user interface (GUI) application regardless of OS and device type to the browser.
Why do I like Neverinstall?
Neverinstall is virtualizing commonly used applications (like Chrome, Firefox) or tools used by dev teams by providing users access to these applications hosted on the cloud. The platform makes it easy for end-users to free up their system's resources by accessing powerful computers in data centers across the globe.
It should be an excellent tool for programmers or people that require access to high-capacity processors. Besides, with an investor like Speciale, you can expect NeverInstall's technology to be of the highest class!
Name: CoRover
Amount Raised: Undisclosed amount from Canbank Venture Capital Fund
What does CoRover do?
Edited from Tracxn: CoRover provides a conversational AI platform to automate business operations. It uses machine learning and Natural Language Processing (NLP) technology to help businesses give quick, automatic, and authentic responses to the users' queries & actions in any language, channel & format. It also provides an end-to-end managed chatbot as a service (CaaS) solution to train, integrate and upgrade chatbot models.
Why do I like CoRover?
CoRover continues the tradition of embedding conversation AI deep into our daily lives. This space is getting crowded with multiple players providing solutions that are difficult to differentiate from one another.
However, I love CoRover's focus on solutions, especially around banking, which is a huge customer pain point. Monetization is going to a challenge with so many free solutions around, but if CoRover can crack that – there good times ahead!
Name: Leegality
Amount Raised: Undisclosed amount from IIFL Securities Capital Enhancer Fund and Mumbai Angels
What does Leegality do?
Edited from Tracxn: Cloud-based enterprise legal document management software provider. It is a mobile and web application for users to create and sign legal documents. Users can choose from available templates or request a custom template, e-sign, and share with the other parties to review and e-sign.
Why do I like Leegality?
As an enterprise user of this platform, I am super bullish on Leegality's prospects as a business. They have competition from Docusign & Adobe Sign, but what I love about Leegality is the simplicity of the user journey from signing to receiving the final documents.
I am interested in investing in them or similar solutions. So hit me up in case you are in the space!
