Avalon Labs– India’s start-up venture which incubates, invests and partners with avant-garde technologies companies that are on the cutting edge.
Avalon Labs is recognized as a global technology and Blockchain company looking to transform the ecosystem of early-stage software startups. The company is on a mission to project young entrepreneurship in the global dominating of large businesses.
Founders
Avalon Labs is incepted in the year 2017 by cousins Varun Mayya and Shashank Udupa at Bengaluru. The duo correctly analyzed the markets and its growth which shooted right at the bull’s eye and with this hypothesis they launched Avalon Labs- a micro VC to invests in exceptional ideas.
Varun is a computer grad from Manipal Institute of Technology, whereas Shashank is from Strathclyde University, UK. The 2016 graduates are always fascinated by the idea of starting a venture capital and propagate more on the new startups by investing. For Varun, the startup ecosystem is not a new block. He founded Jobspire, at the age of 19 as his first venture, which is a popular Indian recruitment platform with nearly 190,000 applicants sign up and over 1,500 companies including big guns like Uber and Swiggy for hiring needs. It became one of the youngest teams to raise VC money.
Varun perception on how the giant companies out-muscled the smaller ones concerning financial reason. So based on this raised Avalon to provide access to the unique ideas benefiting both the worlds.
Business Model
The duo’s skills complemented each other well and made the venture into a huge success. Varun is a computer ace and known for building, and Shashank is a methodical ex-investment banker who is expert in bringing the profits on to the table.
The micro-VC startup runs on B2B model. Avalon Lab scrutinizes the business graph and tend to in invest in SaaS method which according to them is lucrative. Unlike a typical investment firm, Avalon Lab does not have limited partners. The company has 75 recurring clients on the services side. The term ‘Labs’ was named because of the strong liking in experimenting. They work on tools and techniques to improvise the brand.
Competitors
InfuseVentures, PiVentures, and Seedfund are the companies with which Avalon Labs lock horns.
The company instead of merely investing, plots to increase revenues from each of the 6 companies it invested to nearly $1 Million and push them all to Series-A, at that time the startup venture capital decides whether it owns a small share or exit.
Sounds pretty good!
Avalon- A Profitable startup
Avalon is a 40-man profitable startup estimated to be more than $1million in revenues which did not disclose the exact number and made an army to crowd with entrepreneurs across the world and invest in technical and financial capital. Purvi Capital is the lead investor to Avalon Labs.
Is Adaptability a success mantra?
Adaptability is the key to the success of the company. With the right usage of technology at the right time made the company on the top notch. According to Varun, some companies could not adapt to the changing of customer needs and fail to cope up. The duo focuses centrally on these categories and bets on them.
The micro-VC startup became one of the few companies to invest in Blockchain. The company invested in 6 companies namely Mana Network, FoxBound, Enkidu, CalmIndia.com, Linkhero, and Elune.
This hybrid venture invests between $50000 and $100000 in startups they work with building the technology for themselves aiming at the sweet spot of the mid-market and enterprise.
Gambled on something big!
Avalon Labs, on March 2017 made the first bet on Alejandro Gonzalez of MongoDB– a $2 billion database company that came into limelight last year. They both built Foxbound, which a tool for sales reps to prospect and schedule emails across the world with potential leads through a web platform and a chrome extension. Soon after the launch of the product, it tasted the success with over 67 million lead records. The 6 startups which were mentioned above was followed up by Foxbound.
Avalon Labs has its presence in India, Singapore, Estonia, US, Uk, and Bahrain. The interesting fact is that Avalon avoids investing in big names like Swiggy which require large delivery fleets. The duo aims to reshape the ecosystem of the startups and build it from scratch using a technology.
The story of the company is like a fairytale came into reality. In the era of strong dominance in business, these millennials took wings and pragmatically proved that anything could be achieved with the right choice and adaptability with technology as a power source.
The two wizards pro methods aided many startups in building a scope and making their dreams come true. Hope march into Unicorn business soon!
