"EDITION 133"

Published: 8/12/2020

Good morning, it's Wednesday and Joe Biden finally has a running mate! (I know a lot of you might not care too much about this) But I'm super psyched to finally see a South Asian American (& Black) woman to run on a major political party's presidential ticket. Coming to the day's news, I came across an interesting company that raised their seed round & an American firm (with a very strong Indian presence) just closed their second fund.

  • https://bit.ly/31G0gdm: Online climate school Terra.do raises a $1.4M seed round
  • ➡️ Online climate school Terra.do has raised a $1.4M seed round led by Stanford Angels and Entrepreneurs India, Singapore-based BEENEXT, Zerodha's Rainmatter & angels from the US & India.

    ➡️ The company is only 5 months old and is founded by Anshuman Bapna (ex-CPO Goibibo & MakeMyTrip), Kamal Kapadia (taught climate change at Oxford) & Mayank Jain who has previously worked with Anshuman on a company while they went to college together at IIT Bombay.

    ➡️ The company runs an online education program that takes selected individuals through a 12-week intensive bootcamp covering various aspects of climate change- science, policy, business, social justice.

    ➡️ Individuals will go on to work on high-impact climate projects that leverage their skills, through the online collaboration platform. Climate change is a huge global problem so it's great to see Terra.do help individuals tackle specific problems & investors backing a company that might not be traditionally looked at a venture-backable company.

    ➡️ There has also been a growing trend of prominent ex-founders & execs working on meaningful problems that often don't get too much attention- Pankaj Chaddah (Ex-Zomato) with Mindhouse, Rahul Jaimini (Ex-Swiggy) joining Pesto & now Anshuman with Terra.Do

    2. https://bit.ly/3fQGC3x: Rocketship.vc closes their $100M second fund

    ➡️ Bay Area-based early stage fund, Rocketship.vc, has made the final close of their second fund at $100M. The fund is backed by the likes of Vulcan Capital (related to Microsoft founder Paul Allen), Adams Street Partners & the family offices of Marc Andreessen and Chris Dixon (both partners at A16z)

    ➡️ The firm was founded by Anand Rajaraman and Venky Harinarayan, who had previously founded Junglee (acq. by Amazon) & Kosmix (acq. by Walmart) and have both spent time working at both Amazon & Walmart in key roles.

    ➡️ The firm's maiden fund was a 2015 $40M vehicle that has invested about $14M in India in companies like Khatabook, Moglix, Yulu & NoBroker. And the company has already seen two of its companies exit (Fynd to Reliance, Paysense to PayU).

    ➡️ The firm has invested in 44 companies across the seed, Series A & B round and takes a quite interesting approach to investing. The firm uses data science & machine learning to identify & invest in companies regardless of their sector & geography.

    ➡️ India seems to be a big focus for the firm and is the second-largest company (by dollars invested) for the firm, and I'm excited to see the bets the firm makes in the country out of their second fund.

    Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/chetanp/status/1293300501455372288

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