The year 2021 ended on a good note for GoodWorks VC as we made a number of investments in diverse startups and ventures, ranging from safe electric two-wheelers vehicles to ecommerce stores, from a biotech startup that develops vaccines to an electric flying taxi startup that makes commuting 10X faster. We are excited to be a part of the growth story of these startups and look forward to supporting startups & entrepreneurs across a spectrum of industry verticals and domains in 2022 and beyond.
Here’s a glimpse of all the startups that GoodWorks invested in the year 2021 and a few other highlights –
One of our earliest GoodWorks Angel Fund portfolio startups was Otipy (Crofarm) that raised $10.2 Mn in a Series A round led by SIG and further raised a Series B round of $26 Mn. A part of Crofarm Agriproducts Pvt Ltd, Otipy is an agritech and social commerce platform for fresh produce that includes vegetables, fruits, dairy, and other grocery items. It is currently one of the hottest startups in India.
GoodWorks Angel Fund also participated in EV startup kWh Bikes’ $2 Million in seed funding from LetsVenture. kwH Bikes aims to build a safe, durable, electric two-wheeler for Indians by utilizing electric technology. This is among the largest seed round funding in the Indian EV space and kWh Bikes aims to sell 1 million electric two-wheelers by 2025.
Amidst the pandemic, optimal healthcare is the primary need. GoodWorks Angel Fund co-invested in the healthcare sector, Mynvax, an India-based biotech startup that develops next-generation ‘Warm’ vaccines for covid and influenza. Founded in 2017 Mynvax, was incubated at the Indian Institute of Science, Bangalore and has the technology that allows for very rapid, large-scale, and low-cost production of vaccines.
In the e-commerce sector, GoodWorks Angel Fund has invested in two brands, Melorra and Kindlife.in. While Melorra is a top fine jewelry brand in India that creates unique gold and diamond jewelry, Kindlife.in is an online marketplace for new-age beauty and wellness products that are plant-based, organic, toxin-free, and cruelty-free.
In the F&B sector, GoodWorks invested in Barneys Hard Seltzer, a new age alcoholic drink, that is a refreshing alternative to beer, wine, and cocktails. With an ABV of 6%, Barneys is a zero sugar/low-calorie alcoholic beverage that has the perfect blend. We look forward to some exciting rollouts from this startup in 2022!
One more recent addition in our portfolio is in the automotive & EV sector, ePlane Company. ePlane is an electric flying taxi startup, which enables door-to-door travel 10X faster at just 1.5X taxi fare. The ePlane can take off like a drone and then fly like a plane and will combat traffic and make traveling faster.
All in all, 2021 was a fantastic year at GoodWorks VC. It has set the tone and foundation for our core investment philosophy and roadmap.
Through GoodWorks Angel Fund, founding partners Vishwas Mudagal and Sonia Sharma aim to support startups and entrepreneurs who want to redefine the world. Not just investment, the portfolio companies will get a host of support in office space, technology, operations, marketing, and other support services that are critical to scaling up startups.
Have an adventurous 2022! And stay tuned to updates from GoodWorks Angel Fund.