Mukul Arora

Today @Meesho_Official became a public company. Congratulations to Vidit @viditaatrey, Sanjeev @barnwalSanjeev and the entire Meesho team on building one of the most mission-driven companies India has produced in the last decade. We at Elevation Capital @ElevCap feel privileged to have been partners since 2017. Back then, it took us 1.5 years and multiple meetings before we finally partnered, and watching what's unfolded since then has been nothing short of remarkable. Last week, Vidit and I went back to Cafe Noir @ UB City where, in June 2017, we had decided to partner. Same place, same table. We hadn’t returned together in eight years. And sitting there, it felt like time folded in on itself. That day in 2017, Vidit cancelled another investor meeting to meet me. I’ve always remembered that as a small but decisive moment. What I learned only last week was that he thought the other fund was more likely to convert. And still, he chose to meet me. I can’t thank him enough for that decision - because it led to one of the most defining partnerships of my career and one of the most fulfilling relationships of my life! Sitting there, we ended up reminiscing about the whole arc: the early days with very little runway; the brutal months in 2016-17 that forged the culture; the courage to pivot from reseller-first to consumer-first; and the conviction to go zero commission when many people thought it was impossible. From those early conversations to today: 200 million+ customers, 500k+ sellers, and 100k+ livelihoods created through Valmo. Meesho has truly democratized e-commerce in India. And beyond the numbers, what has stood out for me the most is the character of the journey: deep customer obsession, the courage to make non-consensus decisions, and stellar execution to back them - again and again. Watching Vidit and Sanjeev has been a masterclass. Vidit's rare combination of super long term thinking and operational depth, seeing clearly where the world is heading, and having the conviction to act; Sanjeev’s quiet excellence and the stellar engineering team and culture he’s built - one that so many teams in India now look up to. And through it all, both staying humble and grounded. As they remind us, this is just chapter one. The e-commerce market in India is still in its early days and the mission is just getting started! I couldn't be more excited about what comes next. Congratulations once again to the exceptional team that has delivered on super auditious goals time and time again - Dhiresh, Roopa, Debdoot, Milan, Prasanna, Megha, Siddharth, Ashish, Sourabh, Steffie, Harshit, Prateek, Kirti, Jatin, UK. And thank you for the partnership. It has been a privilege! Penned down my reflections on the journey here: tinyurl.com/ElevationMeesh…

Three years ago, two technical founders in India started building AI infrastructure for a market that didn't exist yet. Today, @PaloAltoNtwks announced their intent to acquire @PortkeyAI. Huge congratulations to @jumbld, @ayushgarg_xyz and the entire Portkey team! It started with a problem they'd seen up close together at PepperContent. Conviction on where AI infrastructure was heading before most enterprises had shipped a Gen AI feature to production. A stellar team, a deeply opinionated product, a category they helped define from scratch. All built across a 12-hour time difference. When we first met them, what stood out wasn't the pitch. It was how clearly they could see around corners. They predicted the shift from "do I even need a gateway?" to "I need federated gateways in three regions" before most CTOs knew they had the problem. By the time we led their Series A a few months ago, Portkey was already governing $180M+ in annualized AI spend, processing 500B+ tokens a day for the likes of DoorDash, Roche, Postman, and Snorkel AI. They had a crisp view of becoming the default control plane for enterprise AI. Palo Alto Networks saw the same inevitability. This outcome validates that entire thesis. For a long time, the narrative around Indian startups was limiting. Great operators, but not category creators. Execution, not invention. There have been acquisitions before, but many were acqui-hires that quietly got tucked into a portfolio. Rohit and Ayush didn't get the memo. They built cutting-edge infrastructure that the world's biggest security company wrote a serious check to own. That narrative is now outdated. The next founder watching this thinks: "I can build from here, for the world, and win." That's the virtuous loop. For everyone in the corridor doing the 24-hour flights, the 6am customer calls, the cold LinkedIn outreach that goes nowhere, the late nights debugging on call while your kids sleep one timezone over: today is a good day. It's harder, but sometimes it's worth it :) This is just the beginning. Rohit and Ayush: you have just inspired a whole generation of founders. @PoorviVijay @mukularora Dhruv Jain Prerna Gupta Sanskar Jain @ElevCap

When we first invested in Snabbit, it was live only in Powai. Every time I described it to friends elsewhere, their immediate question was always: “When is this coming here?” In hindsight, the insight feels obvious. But it took an India-first, customer-backwards lens to see it… and exceptional execution to bring it to life. What’s stood out since is the speed of adoption amongst consumers and experts. Snabbit is on track to become a household name, bringing convenience to consumers across multiple services and more importantly unlocking better livelihood for experts. Really fortunate to have had a ringside view to witness @Aa_Agarwl and team @just_snabbit creating a new category! 🙌🙌 @ElevCap @manishadvani12

We just closed our Series B. $33M at $200M valuation. 3.3x step-up from Series A. I'll be honest, I almost didn't post about this. Valuation is the easiest number in a startup to celebrate. It's also the least real. It's just a number that our investors and us agreed on in a room. That's it. The numbers we actually celebrate are different ones: → 4 lakh demat accounts. Each customer acquired by our marketing teams, with honest messaging and sharp targeting. → 96% of orders executed under 10ms. Each millisecond fought for by our engineers who care deeply about slippage and losses. → 40+ product releases in 1 year. Each one shipped by a super lean product and tech team that is innovating at AI native speed. → 130 million trades processed since launch. Each one processed flawlessly by our dedicated Operations team, every single day → 90% CSAT positive rating. Each customer interaction carefully resolved with genuine care by our Customer Delight team These numbers don't come from capital. They come from the team. This Series B funding isn't a finish line. It's just rocketfuel for the team that built and operates this thing. And so, I raise a toast to the Team at @Sahi_HQ . Thank you for everything you bring to work every single day, and the impact you create. Onwards and upwards.

Excited to announce our first deal from our new fund in India and Unicorn Growth Fund with NAVER Corp and KRAFTON Inc. Home services in India is a massive market, but the real story is simpler: hundreds of millions of households deal with unreliable, inconsistent service every single day. The problem is massive, affects millions of people every day, and no one has solved it at scale. This is not just a problem that has persisted from our parents' generation to ours. Snabbit represents a generational opportunity to back a consumer platform tackling one of the most persistent, everyday challenges faced by Indian households. The depth of customer love, the pace of scale, and the frequency of usage are unlike anything we’ve seen in consumer tech at this stage. By creating meaningful value on both sides of the marketplace, we believe Snabbit is building a truly enduring business. We’re excited to partner with Aayush Agarwal and the team as they continue to redefine convenience for millions of us! moneycontrol.com/news/business/…

Pioneering a category that delivers immense social impact. Congrats Aayush and the Snabbit team.

That quick services starting with house help could be a massive market wasn’t obvious—until Snabbit built it. 4x growth in 6 months, while improving capital efficiency. Still early innings for this category. Congrats @Aa_Agarwl & team on the Series D 🚀 cc: @mukularora

ixigo x Swiggy Partnership ! 🚅 🍲 Expanding Food on the Go choices for train passengers 🍴 40,000+ restaurants live on ConfirmTkt & ixigo Trains 🚂 Delivering meals across 160+ railway stations
 ⏱️ Order from 4 days in advance up to 30 mins before the station 🤑 Best offers on fresh, hygienic food @rohitisb @rajnishkumar @SripadVaidya @kothadineshkr

Have you tried our Research product on @Sahi_HQ app? Our SEBI registered Research Analyst team provides daily trade ideas for Stocks and Options. Each algo is back tested with our Sahi Technology platform. With 1-tap push notification based quick exit for any trade call. Transparent and real-time tracking of trade performance, including historical performance. Trade calls are currently available for free on the Sahi app. Get your trading edge, by upgrading to Sahi.

Introducing Vaani – Your Meesho Dost, India’s first Gen AI-powered conversational voice shopping assistant, designed for the next 500 million users who inherently shop this way. Most e-commerce is built for digitally savvy users who know what they want and how to find it. A large part of India doesn’t shop that way. Shopping here has always been assisted. You walk into a store, describe what you need, ask questions and decide with guidance. That’s what we built for. Vaani brings this offline experience online. It understands natural, real-world queries, asks follow-up questions to clarify intent, and works seamlessly across the app to help users discover, decide and purchase. Early signals are encouraging. Over 1.5 million users have interacted with Vaani, with strong repeat usage indicating early habit formation and a 22% higher conversion rate among users who engage with the assistant. When technology understands you, shopping becomes simpler. When it guides you, confidence grows. And with that confidence, millions more people can participate in commerce. #Meesho #VoiceCommerce #DigitalIndia

We’ve raised $36M in Series C, led by @SusquehannaVC (SIG). Existing investors @LongJourneyVC , @ElevCap and @peakxvpartners doubled down. @makemytrip joined the round, marking the start of a strategic partnership to further enable seamless travel. But if I’m honest, moments like this belong just as much to our customers. The people who trusted us with journeys that really mattered to them. Many came to us anxious, uncertain, sometimes completely overwhelmed by the process. And yet they chose Atlys. Many came back again. Many told someone else to try us. That kind of trust has shaped our growth far more than any metric ever could. A big thank you to the team as well for your effort, commitment, and conviction. This progress reflects what we’ve built together and what is still ahead.

Huge news: our team at Portkey has raised $15M in Series A funding led by @ElevCap w/ @lightspeedvp 🎉 As agentic workflows become a reality and businesses recognize AI as mission-critical infrastructure, we’re here to ensure it never breaks. (1/5)

E-commerce moves fast. So does he. @viditaatrey on what Menswear by Blissclub changed in his everyday. Less adjusting. More moving. #MenswearByBlissclub #MakeMoves

Huge congratulations to @PortkeyAI on raising their $15M Series A funding! As AI rapidly becomes the core infrastructure for modern enterprises, it brings two massive operational challenges: ensuring reliability at scale and controlling unpredictable, skyrocketing costs. Led by @jumbld Rohit Agarwal & Ayush Garg, Portkey is transforming how enterprises manage production AI and agent operations with its unified control plane. Portkey’s platform layers a high-performance AI production stack with built-in governance, observability, reliability, and cost management. Sitting directly in the path of AI traffic, where tokens become dollars; it ensures engineering teams maintain operational control while giving finance teams real-time visibility into every cent spent. The scale they've achieved already is phenomenal. Portkey is trusted by AI-forward enterprises like Postman and Snorkel AI, processing over 500 billion LLM tokens across 125 million requests every single day. Today, they are managing over $500,000 in daily AI spend for more than 24,000 organizations globally. We are thrilled to lead this round, with participation from Lightspeed. Wishing Rohit, Ayush and the entire Portkey team continued success and many more milestones to come! @kpowerinfinity @PoorviVijay

18 months of testing One conclusion: @myblissclub Men is a game changer I’ve spent the last 18 months living in @myblissclub menswear prototypes. Being part of the journey from early samples to the final launch has been an eye-opener. What Blissclub does differently is everyday comfort . Their new “Legendary” range —it’s for the active life we actually lead and at the same time insanely comfortable. Soft fabrics, functional fits, and the same DNA that made them a household name for women. Proud to have played a small part in the testing phase. I’ve been a lululemon ABC pants users for years, I’ve not worn a pair of jeans for more than 5 years. I have now switched to the Blissclub pants, I love that these pants easily have become my most comfortable pair of pants that fit me incredibly well, given that they have built this for the Indian body. Great job team @myblissclub

My one vanity? I care about dressing sharply. I genuinely can’t wear ill-fitted clothes. (Blame my dad — he still washes his white linen shirts himself.) And I care deeply about efficiency. Founder mindset. Low friction. Low cognitive load. Which makes it hard to build a wardrobe that’s well-fitted, low-maintenance, and sharp enough to just throw on and walk out. When the Blissclub team shared their men's collection, it was 'love at first try'. Minimal design. Clean lines. Premium fabric. The kind of understated sharpness that’s rare to find. But the real win is "Fit and Function" The round necks felt easy and relaxed. The polos were well-fitted — the right structure across the chest and arms without feeling tight. The jacket draped beautifully — structured but not stiff, unlike most jackets that swing between too loose and too baggy. But my favourite are the trousers. Well-fitted, but built for movement. Something you can wear all day without constantly adjusting. Most “sharp” pants punish you with awkward creases and crotch lines. These just… sat right. Serious work , fabric research and user-first thinking has gone into this. As a founder and product-nerd, I love the details - like the phone pockets on the pants to avoid phone-bulge or the passport pockets on the jacket Fashion + fit + function + efficiency — is hard to get right. But Blissclub has nailed it Loved the “Styled by Blissclub” look. Looking forward to more drops and collections. And standing in front of the camera? Unexpectedly fun. One of those things you should probably do at least once in life :P Huge shoutout to the Blissclub team — the energy made the whole thing effortless.

Voice is the most natural interface we use all day, yet building truly real-time, human-like voice AI is insanely hard. @cartesia's story is an interesting one as they rethink Voice AI. From state space models that can handle streaming context to obsessing over tail latency at millions of calls a day, they’re rebuilding the voice stack for real-time, large-scale applications. With multilingual users, constant code-switching, and enterprise-scale scrutiny on every single call, India stress-tests speech models like no other market. In this episode, @PoorviVijay (Principal, @ElevCap) sits down with @krandiash (Founder & CEO, @cartesia) to unpack how they aim to build one of the fastest, most realistic voice models in the world, and why they’re betting deeply on India. The conversation explores: > Why transformers alone won’t get us to “infinite context” and how state space models change the game > Latency vs tail latency: why a few slow calls can break entire voice experiences > How Cartesia thinks about streaming context, prosody, and matching user emotion in real time > What makes India the ultimate stress test for speech models > Building a research-heavy model company that still thinks product-first Catch the full episode here: tinyurl.com/ElevationCarte…

Our first earnings as a public company reflect the approach we’re taking. Long term and aligned to our mission of democratising internet commerce for everyone. Our Q3 FY26 results continued to show strong progress towards our mission: - 690M placed orders in Q3 (+36% YoY) and 1,951M (+46% YoY) for the 9 months ending Dec FY26 - 251M annual transacting users (+34% YoY), with users transacting 9.78x on average - ₹10,995 cr NMV in Q3 FY26 (+26% YoY) and ₹30,189 cr (+37% YoY) for the 9 months ending Dec FY26 I am humbled by how far we have come and energized by how much remains.

Congratulations @WakefitCo on a successful IPO 🚀 @Ankit_AGarg and @InfiniChai's journey stands as proof that generational companies are built by founders who stay customer obsessed and are bold enough to do hard things in service of that goal @ElevCap @mukularora @vaibhav9339

Congratulations to @Ankit_AGarg, @InfiniChai, and the entire @WakefitCo team on going public! Wakefit's journey has been one of relentless metamorphosis, to not just become the largest brand in mattresses in the country, but also India's largest and most loved D2C home and furnishings company. We're proud to be partners as Wakefit takes this momentous step. At @ElevCap, we're celebrating Wakefit's journey: tinyurl.com/WakefitIPOTake… @mukularora | @chiragchadha9 | @vaibhav9339 | Shweta Adhikari