Inflection Point Ventures, an investment initiative floated by a group of chief financial officers and finance professionals working at Indian startups, has invested in home interiors startup Shadez.
The Gurugram-based firm has put $100,000 (Rs 76 lakh) in the startup, IP Ventures said in a statement.
Shadez claims to be India’s first paint company to deliver painting job in a day’s time with the liberty to choose paint of your choice. The company will use the funds for procuring equipments, hire more proessionals and enhance marketing strategies.
“They literally take away the pain out of the painting job with their one-day turnaround for repainting jobs,” Jignesh Kenya, an IPV investor said.
Shadez Home Interiors Pvt. Ltd was founded in 2018 by Adarsh Anand and Amit Tiwari. While Anand has previously worked with companies like Times of India Group and Reliance Broadcast, Tiwari was associated with DNA News and Jagran Group besides being a founder of Slatee Enterprises, a construction material and painting services venture.
Shadez is currently operational in Mumbai, Thane and Navi Mumbai and plans to soon expand to other metro cities.
Inflection Point Ventures
The community is a sub-initiative of CXO Genie. It was founded in 2017 by nine CFOs and finance professionals hailing from startups such as Myntra, BookMyShow and Grofers. The by-invitation-only network connects the investor community with startups. It largely makes early-stage bets and goes up to the pre-Series A levels.
Its portfolio includes NCR-focussed digital payments platform Escrowffrr, Kolkata-based rural health-focussed startup iKure, Delhi-based virtual assistant provider Wishup, Noida-based sports app Sportido and Singapore-based retinal diagnostic startup Leben Care Technologies.
In January, it invested $150,000 in Trustmore Technologies Pvt. Ltd, which operates escrow-focussed digital payments platform Escrowffrr.
In October last year, co-founder Ankur Mittal told VCCircle it that had invested in 22 companies over the past 18 months. Most investments have been made in India while some have been made in Singapore, the UK and the US.
In July last year, the firm invested an undisclosed amount in Internet of things-based logistics startup Intugine Technologies Pvt. Ltd.