This start-up gave a 2.1x return in less than two years
Early-stage investment firm Venture Catalysts invested in Koovers in early 2022 in its pre-Series A round through its Angel Fund; exited completely in August with 2.1x return
- Sep 12, 2023,
- Updated Sep 12, 2023 9:27 AM IST
Venture Catalysts, India’s first and largest early-stage investment firm, has fully exited from its portfolio start-up Koovers, a leading B2B ecommerce platform for auto spare parts, with 2.1x returns in just one and a half years.
Venture Catalysts (Vcats) exited its investment in Koovers in August post the latter’s acquisition by Schaeffler India, an industrial and automotive parts maker and listed subsidiary of German automotive major Schaeffler Group.
Schaeffler acquired Koovers for ₹142.4 crore.
Venture Catalysts had invested in Koovers in early 2022 in its pre-Series A round through its Angel Fund and few other angels and family offices directly investing in the company.
Incidentally, all the investors have got an exit with the acquisition. Inflection Point Ventures, Canbank Venture Fund, and JPIN were some of the other marquee investors in Koovers.
“Koovers is one of the rarest start-ups that is not only solving a major problem in the automotive aftermarket segment but also been posting impressive revenues year after year," said Apoorva Ranjan Sharma, Founder and Managing Director of Venture Catalysts.
"We invested in the company for the long term but the acquisition was a great exit opportunity with over 2.1x returns in just 1.5 years in a market that’s facing a longish funding winter and a liquidity crunch. These opportunities to the investors create a huge positive impact in the entire ecosystem,” he added.
Founded in 2015 by Vinayak YB, Sandeep Begur, and S Prem Kumar, Koovers is a B2B ecommerce platform that supplies auto spare parts to independent auto workshops (IWS) and the aftermarket ecosystem.
It clocked a revenue of ₹77 crore in 2022-23 and supplies to over 7,000-plus workshops and has a portfolio of around 1.8 million parts from various manufacturers.
“We are quite excited to have had investors like Venture Catalysts on our cap table... we were able to achieve our growth metric goals thus creating immense value for all our investors,” said Sandeep Begur, Cofounder, Koovers.
Meanwhile, Venture Catalysts that typically invests between $250K and $2 million in early stage start-ups, has invested in more than 300 start-ups since inception in 2016.
The cumulative valuation of the start-ups invested by Venture Catalysts is over $10 billion.
Also read: L&T, PowerGrid, Jupiter Wagons, HFCL, other stocks to watch on September 12, 2023
Venture Catalysts, India’s first and largest early-stage investment firm, has fully exited from its portfolio start-up Koovers, a leading B2B ecommerce platform for auto spare parts, with 2.1x returns in just one and a half years.
Venture Catalysts (Vcats) exited its investment in Koovers in August post the latter’s acquisition by Schaeffler India, an industrial and automotive parts maker and listed subsidiary of German automotive major Schaeffler Group.
Schaeffler acquired Koovers for ₹142.4 crore.
Venture Catalysts had invested in Koovers in early 2022 in its pre-Series A round through its Angel Fund and few other angels and family offices directly investing in the company.
Incidentally, all the investors have got an exit with the acquisition. Inflection Point Ventures, Canbank Venture Fund, and JPIN were some of the other marquee investors in Koovers.
“Koovers is one of the rarest start-ups that is not only solving a major problem in the automotive aftermarket segment but also been posting impressive revenues year after year," said Apoorva Ranjan Sharma, Founder and Managing Director of Venture Catalysts.
"We invested in the company for the long term but the acquisition was a great exit opportunity with over 2.1x returns in just 1.5 years in a market that’s facing a longish funding winter and a liquidity crunch. These opportunities to the investors create a huge positive impact in the entire ecosystem,” he added.
Founded in 2015 by Vinayak YB, Sandeep Begur, and S Prem Kumar, Koovers is a B2B ecommerce platform that supplies auto spare parts to independent auto workshops (IWS) and the aftermarket ecosystem.
It clocked a revenue of ₹77 crore in 2022-23 and supplies to over 7,000-plus workshops and has a portfolio of around 1.8 million parts from various manufacturers.
“We are quite excited to have had investors like Venture Catalysts on our cap table... we were able to achieve our growth metric goals thus creating immense value for all our investors,” said Sandeep Begur, Cofounder, Koovers.
Meanwhile, Venture Catalysts that typically invests between $250K and $2 million in early stage start-ups, has invested in more than 300 start-ups since inception in 2016.
The cumulative valuation of the start-ups invested by Venture Catalysts is over $10 billion.
Also read: L&T, PowerGrid, Jupiter Wagons, HFCL, other stocks to watch on September 12, 2023