November 2023 Newsletter
Discover more from Garuda Ventures
November 2023 Newsletter
The latest from Garuda Ventures, news from our portfolio, new investments, and a few tidbits!
Welcome to the Garuda Ventures newsletter, where we share the latest from us, news from our portfolio, new investments, and a few tidbits.
New Investments: We partnered with two new founding teams this past quarter, each still unannounced. Stay tuned to hear more!
🎥 AI assistant for video editors
🗺️ Helping product owners visualize and deeply understand their user journeys
Liftoff! We announced our $31M debut institutional fund, which was also covered in TechCrunch. Thank you for all your support!
Garuda Community: We always enjoy gathering the global Garuda community. The summer months had us meeting in Boston, London, San Francisco, and New York. We look forward to more get-togethers as the holiday season approaches!
On Stage: Rishi spoke about navigating a capital raise during a downturn at the Emerging Horizons: Navigating the New Era of Venture Capital event hosted by our friends at MDSV and Revere. He also joined our friends at the Alchemist Accelerator Demo Day to share what we look for when we invest and what separates a good company from a great one
Portfolio News
Amperon, providing demand forecasts for the energy transition, closed a $20M Series B round led by Energize Capital, with additional participation from the D. E. Shaw group, Veriten, existing investor HSBC Asset Management, and two long-time Amperon customers, Ørsted and another strategic utility partner. They also announced that revenue has grown by 5x since 2021, demonstrating clear signs of product-market fit.
ConductorOne, the leader in identity security and access governance, announced a $12M expansion of its Series A funding, led by Felicis. The additional investment will support the company's growth plans to drive the modernization of the Identity Governance and Administration (IGA) and Privileged Access Management (PAM) markets for cloud-forward companies.
Evergrow, the all-in-one platform for clean energy tax credits, announced the first-of-its-kind funding of a clean energy tax credit transfer using the Evergrow platform. They partnered with Davis Hill Development, a developer of clean energy projects that owns a solar installation in Connecticut, which generated tax credits under the Inflation Reduction Act that were sold for cash via Evergrow.
First Resonance, the operating system for complex manufacturing, announced their new funding round led by Emerson Ventures, the corporate venture arm of Emerson (NYSE: EMR).
FlexPoint, the modern payment stack for Managed Service Providers (MSPs), publicly launched its platform and announced its partnership with GreatAmerica Financial Services, as well as their recent funding round that we led. You can read more about our investment in FlexPoint here.
Honey Homes, the all-in-one handyman service, announced that it has grown its customer base to over 1,000 members. It now also covers homes in the SF Bay Area as well as Dallas, TX.
To see a complete list of founders and companies we’ve partnered with, visit garuda.vc/companies
Hiring Across the Portfolio
There are over 100 jobs available across the Garuda Ventures portfolio! If you’re in the market for an exciting new role at an early-stage business, head to jobs.garuda.vc or click the button below to discover opportunities across our network of companies.
Garuda’s Bookshelf
In a world of bite-sized, easily consumable content, we love asking and getting the question, “Have you read any good books lately?” In this month’s bookshelf:
Non-fiction: Founder Vs Investor: The Honest Truth About Venture Capital from Startup to IPO by Elizabeth Zalman and Jerry Neumann
Founder Vs Investor: The Honest Truth About Venture Capital from Startup to IPO is by friends of ours at Garuda, Liz Zalman, a repeat founder and CEO, and Jerry Neumann, a 25-year legend of venture capital who has invested in companies including Datadog, StrongDM (one of Liz’s companies), and Trade Desk. It presents both sides of the founder and investor table authentically and openly. It’s easy to read despite being very detailed, proactively addresses the unsaid things between founders and investors on a host of major topics ranging from fundraising to growth, and serves as a wonderful explainer with actionable tips, tricks, and takeaways for both founders and investors. For more, read Rishi’s interview with Liz and Jerry here.
Fiction: Titanium Noir by Nick Harkaway
Titanium Noir by Nick Harkaway is a fast-paced narrative set in a cyberpunk dystopia, focusing on detective Cal Sounder who specializes in cases involving Titans—near-immortal beings who have undergone a body-resetting drug treatment. Cal acts as a liaison between law enforcement and the Titans, who are mostly ultra-rich and powerful individuals, and finds himself embroiled in an unprecedented case when a Titan is murdered. Combining wit, action, and thoughtful social commentary, the story presents a complex world through Cal's sardonic internal monologue, replete with high-stakes fights and political intrigue, as he navigates moral ambiguity and overwhelming odds to uncover the truth.
Garuda Ventures is a B2B-focused, pre-seed and seed-stage venture firm. Subscribe below to get the latest from us, and visit garuda.vc to learn more.