Happy New Year!
Every new year brings with it new hope. But given the unprecedented challenges the world has been up against this past year, this new year also brings with it some important lessons, such as prioritizing our health as well as that of the environment and to foster innovation in critical spheres such as education. These are areas that Enzia has had in focus since its inception, ensuring that we are well poised to partner with a new generation of entrepreneurs.
Through 2020 we concentrated on finding talented, mission-oriented entrepreneurs to invest in. In the process, we sharpened our thesis in healthtech, collaborated with like-minded VCs, and found our momentum as new partners. We evaluated over 300 companies of which we invested in the stellar founding teams of the following 3 companies, closing one deal in Jan 2021 and we continue to closely keep in touch with some high potential founders.
What: Healthtech startup that makes artificial intelligence-powered medical devices.
Why: Most of the 200+ AI products approved by the US FDA have not been able to monetize, largely because they don't integrate with existing workflows. Morphle uniquely combines hardware and software and provides a smart solution. Building for a global market from India, Morphle is playing in a multi-billion dollar med-tech market.
Who: Founders Rohit Hiwale and Anchit Navelkar are leading a resilient team with a strong innovation DNA.
What: Digital health clinic for women with a focus on content, community and products.
Why: Of the 200m women now online in India, about a quarter are actively transacting. These women are increasingly seeking trusted networks and effective services online for solutions to their unique health problems. Who: Founded by Achitha Jacob and Mahak Maheshwari who are supported by a passionate team with clear aspirations, learnings and drive.
>>We plan to change gears to fundraising with the aim of raising USD 40M with the first close at USD 20M in 2021.
>>We will continue to selectively invest in promising companies through the Enzia Ventures Syndicate on Angelist.
>>We shall further strengthen the team and look forward to sharing some exciting news in our subsequent newsletters.
We wish you all a happy and healthy 2021!