We recently re-branded ourselves from IDG Ventures India to Chiratae Ventures. Does anything change from here on? Yes and No.
We are the same team with the same vision and passion. But today onwards, our expectations from ourselves and our partners has doubled.
We have had the delight to partner with world class Indian Entrepreneurs at Seed, Early and Late stages. Flipkart is among the top 10 internet companies globally by market cap; Lenskart is by far the leader in the market with a strong omni-channel approach; Policy bazaar is transforming the insurance industry and now the entire financial services industry; Myntra has changed the face of fashion e-tail in India; FirstCry has created a category leader reaching geographies well beyond the top tier cities; Curefit and Nestaway have grown at double the pace and half the time to capture a huge market; Sigtuple, Emotix and Shifu are redefining technology and its usage not just in India but globally. Our companies are addressing real challenges of India and solving that with technology — Agriculture (Agrostar), Health (Forus, Ela Woman), Consumer Credit (Early Salary), SME financing (Vayana Networks), among many others.
India is about new brands, new business models, new products, deep technologies, new revenue models. India is reinventing itself everyday. The last decade saw a growth of 10 X in the Indian entrepreneurial ecosystem, and we believe that the coming decade will see a 20 X jump.
We recognize that India is changing rapidly and at scale, and we want to be the catalysts to support this entrepreneurial growth and change. The coming years will need us to be more agile, more innovative, give long term support to startups and recognize and adapt to these changes. We will need to be more Indian, yet more global.
And to reflect the essence of this change, we are changing our identity.
‘Chiratae’ — means leopard in the native language. But to us, Chiratae is not just that. Not only does Chiratae signify our team, and our interests in wildlife and nature, it is an emotion that signifies much more.