Iterative Venture Deals Update

Deals update for 5/29/21

Happy Memorial Day Weekend, Iterative Community! 🇺🇸

I hope you all are staying busy finally catching up with your friends and families and perfecting the barbecue skills over this long weekend. With that said, we will keep it short and sweet and highlight on key deals this time. Going forward, we will be separating out the deal pipeline update from the events and editorial so to tailor our information better.

Iterative Venture Updates

Live deals

• Upstock.io deal is now Live! You may access the deal here. Here are a few highlights about them:

  1. Upstock is building the world's first universal equity and a secondary market for RSU holders

  2. Their current Seed fundraising round is 75% subscribed, led by Streamlined.vc (3 of their seed portfolio companies IPO’d last year - Doordash, Voyager, Applovin)

  3. Founded by a team of serial entrepreneurs - Casey Fenton, Founder of Couchsurfing, and, Arne Peder Blix, Co-founder of Equatex (acquired at $460M) with the industry's top advisors

  4. Since the company launched its updated service in late 2020, it has been growing at 30% M-o-M in revenue, reaching $1,000 MRR

  5. You may view Upstock’s pitch deck here.

• Chaldal deal is now Live! You may access the deal here. Her are a few highlights about them:

  1. Chaldal (YC S15), the Bangladesh’s largest online grocery start-up, is expanding into the entire e-commerce ecosystem (supply logistics, warehouses, delivery, and payments), similar to Coupang in S. Korea and Trendyol in Turkey

  2. Their Series C round is led by Taavet Hinrikus (Founder of Wise) and Sten Tankivi (Founder of Teleport), with all existing investors from previous rounds (YC, 500 Startups, and IFC)

  3. Since the March 2020, the company’s total user base grew 2x to more than half a million users, and average monthly order volume 3x’ed while 75% of monthly orders came from repeat orders.

  4. The company is targeting to 10x the monthly revenue to $30M by Dec 2022

  5. You may also view Chaldal’s pitch deck here and video here

Deals in the pipeline

If you are interested in any of these deals, please RSVP with the button at the bottom. This will help us gauge the interest from the community and secure allocation with the companies. RSVP does not guarantee or lock in your commitment but will place you in a priority list.

Skipti- Seed 🆕

Click to view the deck

• B2B SaaS platform to digitize bi-directional retail experiences such as rentals, repairs, and demos

• Expecting 10x ARR growth YoY: $360,000 in 2020 -> On path to reach $3M in 2021 -> Targeting $30M in 2022

• Current clients: RugDoctor, Dick’s, REI, Staples, Marriott, Indigo and more -> Prospective clients: Home Depot, Lowes, AutoZone, ACE and more

• Current round: raising $3M @$15M Cap (SAFE), of which $2M is already softly committed

• Event: Q&A with Skipti @12PM on 6/16/2021 - RSVP

CareerNinja - Seed

• India’s AI-powered personalized learning platform - First to use NLP & ML to create courses in <7 days and at 1/25th cost

• 10-30% M-o-M User Growth since launch in April 2020

• 3x in Revenue in 4 months in 2021; Gross margins of 74%

• 9000+ users learning across 50,000+ unique pathways

• Current round led by Unitus Ventures is already 121% over-subscribed. Iterative Venture might get an allocation if there’s enough interest - please RSVP below!

• Additional resource: 

  1. Founders Pitch

  2. Q&A

  3. Unitus’s Thesis

• Event: Q&A with CareerNinja @ 12PM PST on 6/22/2021 - RSVP

Azteco - Seed

Click to view the deck

• Consumer Bitcoin - Azteco Bitcoin Vouchers are the easiest and best way to buy Bitcoin.

• Founded in May 2020, by a team of Bitcoin experts & veterans from Google

• $2.2M in total GMV (Gross Merchandise Volume) as of April 2021

• Revenue grew 173x Y-o-Y

• $6k in Monthly Profit as of April 2021, 10x growth since the launch last June

• Deal memo

• Event: Q&A with Azteco @12PM PST on 6/15/2021 - RSVP

Youtravel.me - Pre-Seed

• Online travel platform utilizing proprietary algorithm that connects travelers based on their social interest, values, and past experiences

• 200,000 users per month and 3,500 travel experts on the platform

• 35% M-o-M growth in revenue during the pandemic

• Graduated from the acceleration program 500 Startups Gerogia (Demo day)

• Pitch video at 500 startup

• Event: Q&A with Youtravel.me @12PM on 6/1/2021 - RSVP

Partsimony - Seed

Click to view the deck. Password: innovation123

• A platform that empowers hardware companies & manufacturers to build dynamic manufacturing supply chains by leveraging machine learning and design intent, enabling them to seamlessly scale from prototype to production while mitigating supply chain risks (i.e. component shortages, sustainable materials within designs, etc.).

• Achieved 96% cost reduction saving and 83% lead time reduction among current clients- Stanley Black& Decker, Nanotronics, Launcher, and Proteus

• Given President Biden's Executive Order on Made in America manufacturing, Partsimony has a unique opportunity to take advantage of the tailwinds in addressing manufacturer discovery and organizational intelligence.

Get involved!

• Crate a profile with Iterative Venture: We've received a lot of requests from both our community members as well as founders for introductions with opportunities to advisory. Please take a minute to help us understand what you are looking for and how you would like to advise companies here.

• Got deals? Would you like to submit any interesting deals and syndicate with us? Please submit your deal by clicking the button below. If the deal is successfully syndicated, you get 30% of the carried interest! (Offer ends on 7/1/21)

Let us know how we did!

As we continue to grow and scale, we’d love to hear from you how we can be better and what you’d like to see more of. Want to get involved with the Iterative community? We’d love to have your help supporting the community. Please use the link below to give feedback & share your interest in joining our efforts.

Keep iterating 💪