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Venture Capital
pointone.capital

Investments

40

Portfolio Exits

1

Funds

1

About PointOne Capital

PointOne Capital focuses on pre-seed and seed stage technology enabled startups in emerging sectors.

Headquarters Location

F04, Ozone Residenza, Harlur Road

Bangalore, 560102,

India

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Latest PointOne Capital News

SaaS Startup for Laundry Industry Turns Raises $500K Pre-Seed Round Led by Better Capital

Jan 11, 2023

IndianWeb2 Desk Turns is a modern full stack operating system for the $100B+ laundromats industry with integrated software & hardware. Turns , a vertical SaaS startup for the laundry industry, has raised $500K in pre-seed funding led by Better Capital, along with participation from PointOne Capital and a set of stellar angels. Turns helps laundromats deliver a modern experience to their users with a full stack software & hardware integrated solution that includes a modern POS, customer management, hassle-free payments, accounting, employee management, logistics optimisation as well as compliance making it an all-in-one control center for laundromat owners. Turns launched their beta and has already signed up 50+ laundromats and dry cleaners across eight countries including US, India, UAE & others. Turns will primarily focus on the United States market and is targeting 1000 customers in the next 12-18 months. Laundry is a $100B+ industry worldwide and $40B+ in the United States alone and is rapidly transforming from the old dimly-lit quarter-operated stores to modern main street businesses run by customer obsessed entrepreneurs serving consumers as well as businesses and picking up and delivering laundry like DoorDash. Laundry is the 4th biggest retail spend category in the United States and a recession-proof industry that contributed billions to the GDP and was identified as an essential business during COVID restrictions emphasising their broad appeal and need in society. Small and independent laundromats and cleaners serve 100M+ retail customers as well as large B2B customers from industries like hospitality, medical establishments & others to ensure a supply of clean laundry. Laundromats have complex workflows involving machines & manual labor, multiple business models designed around self service, vending sales, wash dry & fold, pickup & delivery orders, routes & more. Laundromat owners increasingly need a system that can scale as quickly as their business does and one that integrates seamlessly into existing systems. Traditional solutions have fallen short of the modern needs of this multi-billion dollar industry - this is the opportunity Turns is focused on. Turns founders, Sukanth Srivastav and Vishal Gupta , built a laundry startup in India in 2015 and understood the nuts and bolts of the laundry business. Though that startup did not work out, it left Sukanth and Vishal thinking how large the industry and its problems were. They built on those learnings and zeroed in on building the “Toast for Laundromats” and started working on Turns in 2022. “Laundromats & cleaners represent one of the largest main street businesses in the United States that was severely underserved by modern software. We see an immense vertical SaaS opportunity and already understand the laundry business intimately”, said Sukanth who leads all things business at Turns. “Laundry is a large business but a complex & competitive one. Laundromats need state-of-the-art software to deliver the experience that is being demanded by B2C as well as B2B customers. We are building Turns to do just that - an all-in-one system that laundromat owners can operate easily and scale their business with a stellar customer experience”, said Vishal who leads all things product & engineering at Turns. “Vertical SaaS is a massive opportunity that is being unlocked by a new generation of companies that bring a modern Uber and DoorDash like experience to users across a wide range of verticals. Toast did it for restaurants and Turns is doing that for laundromats. We are excited to be ground zero partners to Sukanth and Vishal as they pursue this large vision”, said Vaibhav Domkundwar of Better Capital, an early backer of breakout vertical SaaS companies like Open, Teachmint, Plobal and others. Advertisements

PointOne Capital Investments

40 Investments

PointOne Capital has made 40 investments. Their latest investment was in Podeum as part of their Pre-Seed on January 1, 2023.

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PointOne Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/18/2023

Pre-Seed

Podeum

$1M

Yes

2

1/11/2023

Pre-Seed

Turns

$0.5M

Yes

Better Capital, PointOne Capital, and Undisclosed Angel Investors

3

1/11/2023

Seed VC

Showroom B2B

$1.35M

Yes

4

9/6/2022

Seed VC

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$99M

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10

8/22/2022

Pre-Seed

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$99M

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10

Date

1/18/2023

1/11/2023

1/11/2023

9/6/2022

8/22/2022

Round

Pre-Seed

Pre-Seed

Seed VC

Seed VC

Pre-Seed

Company

Podeum

Turns

Showroom B2B

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Amount

$1M

$0.5M

$1.35M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Better Capital, PointOne Capital, and Undisclosed Angel Investors

Sources

2

3

4

10

10

PointOne Capital Portfolio Exits

1 Portfolio Exit

PointOne Capital has 1 portfolio exit. Their latest portfolio exit was Finin on December 14, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/14/2021

Acquired

$99M

7

Date

12/14/2021

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

7

PointOne Capital Fund History

1 Fund History

PointOne Capital has 1 fund, including The Alternative Investment Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/14/2022

The Alternative Investment Fund

$7M

4

Closing Date

1/14/2022

Fund

The Alternative Investment Fund

Fund Type

Status

Amount

$7M

Sources

4

PointOne Capital Team

1 Team Member

PointOne Capital has 1 team member, including current General Partner, Archana Priyadarshini.

Name

Work History

Title

Status

Archana Priyadarshini

Unicorn India Ventures, Wells Fargo & Company, Capgemini, and IBM

General Partner

Current

Name

Archana Priyadarshini

Work History

Unicorn India Ventures, Wells Fargo & Company, Capgemini, and IBM

Title

General Partner

Status

Current

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