One of the harshest impacts of the COVID-19 pandemic was felt by the low-income community whose grievances were exacerbated by a 'no-supply' problem. However, many companies were unable to solve for their needs due to unsustainable margins.
This is where Bengaluru-based impact investing firm Elevar Equity steps in to fund early-stage startups building solutions for low-income communities.
Founded in 2008 by Sandeep Farias and Johanna Posada, the venture capital fund looks at solutions that generate and encourage inclusivity, are affordable, and can be deployed at scale '” all while being able to show profitability.
"We believe that the DNA of the company needs to be low-income focused to increase and optimise the chances of success," co-founder Sandeep Farias tells YourStory.
To date, Elevar has deployed $210 million in capital across five funds, and in 44 companies. The fund is estimated to have impacted 45 million households across India and Latin America, where it has also been investing, and created nearly 75,000 jobs.
Yantra and Oracle NetSuite, in association with YourStory, hosted a webinar on '˜How Cloud ERP Enables Digital Transformation for Startups.' The webinar deep-dived into solving people-related challenges, process inefficiencies, cost overruns, and more using a cloud-based ERP (enterprise resource planning) system.
While the coronavirus pandemic disrupted the alcobev industry, Mumbai-based Tilaknagar Industries managed to stay afloat, clocking revenue worth over Rs 501 crore with a profit after tax (PAT) of Rs 9.78 crore in Q3 ended December 2021.
The company, which is known for producing quality brandies, wants to establish a deeper connection with the youth. It is looking at expanding to regions within the eastern parts of the country. Read more.
A genetic test for better health
How about a genetic map that can provide personalised wellbeing recommendations? Founded by Rahul Ranganathan and Dr Balamurali AR, NuGenomics combines multiple information points from a user to create a comprehensive picture of current and future health.
Among other tests, the startup's product offerings include genetic test report, which helps people understand their pre-dispositions towards cholesterol, HDL, LDL, Triglyceride, and blood sugar levels along with several other conditions to help their existing trainers and nutritionists. Read more.
Read more: [https://yourstory.com/2022/04/startup-news-updates-april-26-credavenue-corpository-cactus-kreditbee/amp]
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