InnoVen Capital

InnoVen Capital is a prominent venture lending firm in Asia, with offices in Mumbai, Singapore, and Beijing. Established in 2008, it has emerged as the first and largest provider of venture debt to venture capital-backed startups in India. Following a buyout by Temasek Holdings and UOB Group in 2015, the firm rebranded as InnoVen Capital and currently manages investor commitments of approximately US$200 million. The company specializes in providing debt financing to high-growth and innovative technology startups, having issued over 190 loans to more than 150 startups across India and Southeast Asia. InnoVen Capital's offerings include various debt capital solutions such as venture debt, acquisition finance, growth loans, and syndication, and it holds a credit rating of ‘IND AA-’ for its term borrowing.

Chin Chao

Chief Executive Officer, Singapore and South East Asia

Pooja Panchamia

Senior Associate

Aashish Ramchand

Senior Associate

Ujwal Sutaria

Senior Associate

Past deals in FMCG

FAASOS

Debt Financing in 2022
FAASOS, operated by Rebel Foods Services, is an on-demand food delivery platform that primarily functions through a mobile app. It is transforming the way customers order and receive food, serving approximately 10,000 customers daily, with a rapidly increasing user base. The service is currently available in ten cities, focusing exclusively on app-based orders to enhance customer convenience and streamline the delivery process. As a pioneer in the food tech space, FAASOS continues to expand its reach and improve its offerings to meet the growing demand for quick and accessible food delivery solutions.

KitaBeli

Venture Round in 2022
KitaBeli is a startup that sells daily essentials, fast-moving consumer goods (FMCG), and other household items.

FarMart

Series A in 2021
FarMart Service Private Limited operates an online marketplace that connects farmers who own agricultural machinery with those who need it, facilitating a pay-per-use model. Founded in 2015 and based in Gurugram, India, the company has developed a mobile app that allows farmers to order and schedule the use of agricultural machinery conveniently. Recognizing that a significant portion of Indian farmers manage small landholdings, which limits their ability to own machinery, FarMart offers a solution that enhances productivity while minimizing costs. This platform not only provides access to the latest agricultural technology but also promotes rural entrepreneurship by enabling farmers to monetize their machinery.

FarMart

Series A in 2021
FarMart Service Private Limited operates an online marketplace that connects farmers who own agricultural machinery with those who need it, facilitating a pay-per-use model. Founded in 2015 and based in Gurugram, India, the company has developed a mobile app that allows farmers to order and schedule the use of agricultural machinery conveniently. Recognizing that a significant portion of Indian farmers manage small landholdings, which limits their ability to own machinery, FarMart offers a solution that enhances productivity while minimizing costs. This platform not only provides access to the latest agricultural technology but also promotes rural entrepreneurship by enabling farmers to monetize their machinery.

Mensa Brands

Debt Financing in 2021
Mensa Brands’ business model involves investing working capital and picking up equity in other D2C startups and scaling their brands' presence online

WayCool

Series C in 2021
WayCool Foods & Products Pvt. Ltd. is an agri-tech company based in Chennai, India, specializing in the procurement, processing, and distribution of fresh produce, dairy products, and grocery staples. Founded in 2015, the company sources fruits and vegetables from smallholder farmers and aggregators, facilitating direct links between farmers and consumers. WayCool employs innovative technology to enhance logistics and food safety, ensuring the quality of its products. It operates a diverse distribution network that includes retail stores under the brand SunnyBee, mobile stores on trucks, and e-commerce platforms, primarily serving the Chennai area. Additionally, WayCool designs and manages storage facilities and cold chain distribution operations, aiming to increase farmers' incomes while providing fresh produce to local shops, restaurants, and catering establishments. The company's vision focuses on becoming a leading food development and distribution entity in India, positively impacting the agricultural community.

WayCool

Debt Financing in 2020
WayCool Foods & Products Pvt. Ltd. is an agri-tech company based in Chennai, India, specializing in the procurement, processing, and distribution of fresh produce, dairy products, and grocery staples. Founded in 2015, the company sources fruits and vegetables from smallholder farmers and aggregators, facilitating direct links between farmers and consumers. WayCool employs innovative technology to enhance logistics and food safety, ensuring the quality of its products. It operates a diverse distribution network that includes retail stores under the brand SunnyBee, mobile stores on trucks, and e-commerce platforms, primarily serving the Chennai area. Additionally, WayCool designs and manages storage facilities and cold chain distribution operations, aiming to increase farmers' incomes while providing fresh produce to local shops, restaurants, and catering establishments. The company's vision focuses on becoming a leading food development and distribution entity in India, positively impacting the agricultural community.

WayCool

Series C in 2020
WayCool Foods & Products Pvt. Ltd. is an agri-tech company based in Chennai, India, specializing in the procurement, processing, and distribution of fresh produce, dairy products, and grocery staples. Founded in 2015, the company sources fruits and vegetables from smallholder farmers and aggregators, facilitating direct links between farmers and consumers. WayCool employs innovative technology to enhance logistics and food safety, ensuring the quality of its products. It operates a diverse distribution network that includes retail stores under the brand SunnyBee, mobile stores on trucks, and e-commerce platforms, primarily serving the Chennai area. Additionally, WayCool designs and manages storage facilities and cold chain distribution operations, aiming to increase farmers' incomes while providing fresh produce to local shops, restaurants, and catering establishments. The company's vision focuses on becoming a leading food development and distribution entity in India, positively impacting the agricultural community.

Milkbasket

Debt Financing in 2019
Milkbasket is a subscription-based micro-delivery service fulfilling daily dairy essentials and household needs of customers every morning. They deliver milk, bread, eggs, juices, butter, and other daily items needed every morning, right at customer's doorstep, free of charge. The company was founded in 2015, built on the unique Indian habit of getting fresh milk delivered at home every morning. They are based in Haryana, India but is also delivering in Noida, Dwarka, Bengaluru, and Hyderabad.

Epigamia

Series C in 2019
Epigamia is a producer of premium dairy-based food products, specializing in all-natural Greek yogurt. Launched in June 2015, the company aims to promote a healthy lifestyle through its diverse product offerings, which include Greek yogurt, almond milk, plant-based alternatives, lactose-free snacks, ice creams, ghee-based spreads, and chilled shakes made from real fruit. With a focus on low-fat and high-protein content, Epigamia ensures that consumers can enjoy nutritious desserts and beverages at an affordable price.

1mg

Venture Round in 2019
1mg is a digital consumer healthcare platform based in Gurgaon, Haryana, India, launched in 2015. It aims to make healthcare more accessible, understandable, and affordable for users. The platform allows individuals to find detailed information about medicines prescribed by doctors and purchase them directly. Users can search for medications based on ailments, drug classes, companies, and brands. Additionally, 1mg features a doctor platform designed to help users locate suitable healthcare professionals for their needs. The company also offers a diagnostics service that enhances transparency and cost-effectiveness for lab tests, empowering Indian consumers and caregivers to choose the right healthcare services at competitive prices.

Cogoport

Venture Round in 2019
Globally, logistics costs account for a staggering 15% of the total cost of goods today. The international freight logistics market for this consists of many fragmented stakeholders working in silos today creating large process inefficiencies. Cogoport aims to iron out these inefficiencies to achieve a 20% reduction in freight costs. Overall, the Freight logistics market is pegged at over $1trln of which India contributes $4Bn and practically none of it is online. At Cogoport, we aspire to bridge this gap and digitize the international freight buying market by providing instant spot rates and a fast bidding/quotation process for the freight buyer - which stands at the top of the value chain. We have been able to stitch together a strong team with decades of sectoral experience alongside technology hackers from premier institutes.

FAASOS

Venture Round in 2019
FAASOS, operated by Rebel Foods Services, is an on-demand food delivery platform that primarily functions through a mobile app. It is transforming the way customers order and receive food, serving approximately 10,000 customers daily, with a rapidly increasing user base. The service is currently available in ten cities, focusing exclusively on app-based orders to enhance customer convenience and streamline the delivery process. As a pioneer in the food tech space, FAASOS continues to expand its reach and improve its offerings to meet the growing demand for quick and accessible food delivery solutions.

Bizongo

Venture Round in 2019
Bizongo is an innovative online B2B marketplace catering to the diverse packaging and material handling industries. It makes packaging sourcing, distribution, inventory management, and design hassle-free for enterprises. The company's automated supply chain platform ensures availability of packaging for business with lower inventory. It addresses challenges such as inventory stock out, excess inventory, and obsolescence that are common for enterprises. Bizongo was founded in 2015 by Aniket Deb, Ankit Tomar, and Sachin Agrawal and is headquartered in Mumbai, Maharashtra, India.

Furlenco

Venture Round in 2019
Furlenco is India’s first and only Home Furniture Subscription Program based out of Bangalore. Founded by Ajith Karimpana in 2011, Furlenco was born out of his frustration at finding well-designed, sophisticated and affordable furniture to rent for his home. Furlenco offers a range of curated home furniture experiences, designed to suit the lifestyle needs of varied audiences spanning students to families and expatriates. Our solutions are convenient, cost-effective and offer access to quality furniture with the added advantage of being able to exchange it at will depending on your requirements.

RAW Pressery

Venture Round in 2018
RAW Pressery is a clean-label beverage brand that delivers cold-press juices, smoothies, soups, and nut milk to customers. RAW Pressery directly works with farmers to get the best quality fruits, vegetables, and nuts from across the world, pack the goodness in a bottle, and deliver it to the customers' doorstep. RAW Pressery was founded on 2014 and is headquartered in Mumbai, India.

FreshMenu

Venture Round in 2018
FreshMenu offers a food delivery service that provides fresh and tasty cuisines of the highest standard. FreshMenu’s meal packages are now available for delivery at Koramangala, Richmond Town, Langford Town, Lavelle Road, MG Road, Victoria Layout, Domlur, Old Airport Road, Indiranagar, Ulsoor, Old Madras Road, Whitefield, Marathahalli, Bellandur, Sarjapur Road, HSR Layout, Bannerghatta Road, Jayanagar and JP Nagar areas.

Nongfenqi

Series C in 2018
Nanjing Nongfenqi E-Commerce Co., Ltd. operates as a rural internet finance services platform in China, specializing in farm installment financial services. The company enables farmers to acquire farm machinery, make agricultural procurements, and pay advance land transfer fees through installment payments. By focusing on large farming groups and collaborative communes, Nongfenqi has facilitated financial solutions for approximately 20,000 clients, helping to enhance agricultural productivity and accessibility to essential resources.

Freecharge

Venture Round in 2017
FreeCharge is an e-commerce website headquartered in Mumbai, Maharashtra that provides online facility to recharge any prepaid mobile phone, postpaid mobile, DTH & data card in India. The website was started in August, 2010 by Kunal Shah of Accelyst Solutions Pvt. Ltd. In November 2012, the company claimed to be doing online recharge of INR 6 million on a daily basis, translating to INR 2.19 billion a year. It provides online facility to recharge any prepaid mobile phone in India. The amount paid by the user for recharge is returned in form of shopping coupons of some of the top retailers in India, thereby making the recharge virtually free. The first two retailers for which coupons were available were McDonald's and Barista. and were followed by other big retailers such as Café Coffee Day, Domino's Pizza, Cromā, Puma, Shoppers Stop and Jet Airways. In 2011, FreeCharge was named one of the most promising technology startups from India by Pluggd.in.

Epigamia

Series B in 2017
Epigamia is a producer of premium dairy-based food products, specializing in all-natural Greek yogurt. Launched in June 2015, the company aims to promote a healthy lifestyle through its diverse product offerings, which include Greek yogurt, almond milk, plant-based alternatives, lactose-free snacks, ice creams, ghee-based spreads, and chilled shakes made from real fruit. With a focus on low-fat and high-protein content, Epigamia ensures that consumers can enjoy nutritious desserts and beverages at an affordable price.

Shadowfax

Venture Round in 2017
Shadowfax Technologies Pvt. Ltd. is an on-demand logistics platform based in Bengaluru, India, founded in 2015. The company specializes in providing last-mile delivery services for local businesses, including restaurants, e-commerce, FMCG, and pharmaceuticals. Shadowfax's technology-driven platform offers a comprehensive delivery solution that enhances customer experiences through efficient logistics. With a presence in over 75 cities across India and more than 7,000 active delivery personnel, the company utilizes a crowdsourced model to optimize its operations. In addition to its delivery services, Shadowfax provides clients with valuable analytics and consumer insights by analyzing delivery data, enabling merchants to focus on their core business while benefiting from improved delivery efficiency.

Fabhotels

Venture Round in 2016
Fabhotels provides its clients with a budget hotel chain in India. It partners with smaller hotels for providing standardized services to budget travelers. Fabhotels was established in 2015 and is headquartered in Gurgaon, Haryana.

PepperTap

Series B in 2015
PepperTap is a mobile application that provides grocery delivery service. It enables users to buy fruits, vegetables, and groceries that will be delivered in 2 hours with just a few taps. The company aims to be the fastest on-demand grocery delivery service in India that provides convenience, on-time and on-demand delivery to its patrons, along with superlative services and hand-picked products. PepperTap was founded in 2014 and is headquartered in Gurgaon, Haryana.