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WEH Ventures, an early-stage fund, has been actively backing start-up funding rounds even as there have been rising concerns around funding winter. Zevi, a site search engine built using NLP-AI, said it has raised its pre-seed round worth $8,50,000, which was led by WEH Ventures along with the participation of other investors on Tuesday.
Speaking about the investment, Rohit Krishna, General Partner, WEH Ventures said, “We believe that any technology that can break barriers for the varied diaspora of people makes the internet a better place and we have been investing in this theme for a long time now.”
Zevi powers search for brands like Juicy chemistry, FacesCanada, Mango, and The Ayurveda Experience among others. Last week, Magma raised its pre-seed funding of $5,15,000, which was also led by WEH Ventures, with the participation of other investors. Magma is a cross-border B2B manufacturing and supply chain enablement platform for building materials. WEH Ventures launched its second fund worth ₹100 crore last year and has already invested in 10 start-ups.
Responding to a query on the current uncertain investment scenarios, Deepak Gupta, General Partner, WEH Ventures said that the company remains “cautiously opportunistic” as it continues to write cheques for pre-seed and seed funding rounds.
“While the macroeconomic environment is what it is, in general, we are actually trying to get more aggressive to find more interesting deals. At the same time, we are not looking to deploy all our capital in the next six months. So we are cautiously opportunistic. The mood in our portfolio companies also remains positive and they are executing well,” Gupta added.
The VC fund has typically been cutting cheques in the range of ₹1-3 crore. It is also known to lead funding rounds while getting other investors to come on board by pitching in the balance funds. It has in the past invested in healthy dessert brand NOTO, Unbox Robotics, and D2C brand Masterchow besides platforms such as Pratilipi and Downtown.
Krishna said that investment strategy has been focused on start-ups in sectors such as fintech, commerce, and content. “We also keep looking at newer spaces. Recently, we invested in the construction tech space. We have been also looking at the health insurance space and continue to look at D2C ,” Gupta added.
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