Companies

Revenue of Unitus Ventures’ portfolio firms rises to $141 million

Sangeetha Chengappa Bengaluru | Updated on March 11, 2021

‘Companies touched 12.2 million bottom of the pyramid lives’

Early stage venture fund Unitus Ventures said its 24 portfolio companies impacted over 12.2 million bottom-of-the-pyramid lives in 2020 – an increase of 34 per cent from 8.9 million in 2019.

The cumulative revenue of the portfolio companies improved by 26 per cent through 2020 at $141 million. Masai School, Gigforce, DriveU, Blowhorn, GoCoop, AddressHealth, Predible Health, SuperMoney, Eduvanz are some of its portfolio companies.

‘Challenging times’

Of the 24 portfolio companies, 54 per cent are in jobtech, 25 per cent in fintech and 21 per cent in healthcare. Seventeen of these 24 companies received follow-on financing from Unitus and other investors in 2020 to help them scale their business.

“The pandemic-ridden year taught us that only companies with decisive leaders survive. Our portfolio companies not only survived but also found new paths of growth through the challenging times. With prompt business decisions driven by a fierce problem-solving attitude and deployment of cutting-edge technology, they recovered revenue while increasing their impact,” said Will Poole, Managing Partner, Unitus Ventures.

“Out of the many gaps that were exposed during the pandemic, the biggest was that of unemployment, especially in the lower socio-economic income population. In this category, Unitus-backed jobtech companies grew their impact by 64 per cent to 9.6 million lives, creating opportunities and upscaling skills for a future-ready workforce,” added Poole.

“Our investments across two funds have underscored the importance of skilling and job creation for the Indian economy. Our goal is to identify and support innovators and entrepreneurs who are using technology and business principles to address issues,” said Surya Mantha, Senior Partner, Unitus Ventures.

Unitus Ventures supports early stage fintech, healthcare, and jobtech start-ups with India scale and global potential. Launched in 2012, Unitus Ventures is a founding member of Capria Network, the leading global network of emerging market fund managers collaborating to deliver superior returns and scaled impact. Unitus Ventures is based in Bangalore and Seattle.

Published on March 11, 2021

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