3F VC

Introducing 3F VC Microgrants for bold and ambitious founders building in Hardware, AI, Deeptech, and beyond.

cc: @malpani @ProximaMumbai

India is a small circle pretending to be a large market. The cost of a lie is always higher than whatever short-term advantage it seems to offer. 3f.vc/article/cost-o…

We’ve seen a huge surge in applications over the past week. If you’ve applied and resonate with what we’re building at Proxima, you can expect to hear from us soon. We’re reviewing every new application, along with some earlier ones, so keep them coming! 🚀

cc: @malpani @ProximaMumbai

Investor updates aren’t just for investors - they’re mainly for founders. Writing them forces you to think clearly about progress and keeps both current and potential investors aware of your momentum.

founders of mumbai - listen up! Proxima mumbai is hosting a co-working session at the Malpani Ventures office this Saturday, 14th march :) if you're an early stage founder, or surrounded in the startup ecosystem, we'd love to have you over for a productive afternoon. register👇

cc: @malpani @ProximaMumbai

The internet was never just websites. It was always a database. Cloudflare launching scraping infrastructure signals something bigger: data, not compute, is becoming the real bottleneck in AI.

Very good report on Quick Commerce (in fact better than ones done by brokerage firms) There are a few points I'd like to add: 1. Authors are right to point out that no QC player has shared vintage wise P&L performance of Dark Stores (apart from minor mentions) - this data is heavily obfuscated at the aggregate level given the velocity of new store opening - therefore, as an investor, I am shooting in the dark 2. Contrary to others, I believe Ads will get to ~5%++ of GMV v/s 3% today || Retail media network with instant delivery can command much higher premium (CPI) because of the proximity; my understanding is Amazon is at ~8.8% of NMV - ample scope to grow here Further thoughts:

Adding one small bit which I feel is also important. I think we'll see the quality of teams running the quick commerce businesses (not found in teams only but teams who interact with brands and labels) be central to how some of these companies leverage all things you mentioned. Efficiency with dark stores, higher AOV, better margins will all happen if these platforms work with brands, understand their concerns, and truly be partners. Any platform optimising for short term upsides with revenue, without meaningfully engaging with brands and labels, will eventually get left out. I see it happening over the next year or so. Where we'll see more businesses choose not to work with platforms where they dont see enough consideration. And of course some of the quick commerce platforms have truly good inventory, and prediction models which will also be a moat. Not easy to do this without the right team of course.

We kept hearing the same thing about quick commerce: “They’re killing it.” “10-minute delivery has won.” “Blinkit is profitable now right?” So instead of debating takes, @karansehgal47 and I wrote the report. Quick Commerce in India: A Forensic Research Report

cc: @ProximaMumbai @malpani @karansehgal47 @yashpanditrao

Read the full report: 3f.vc/reports/quick-…

We’ve just published a new report: Quick Commerce in India - The Money Machine That Has Not Made Money Yet. Quick commerce is no longer a novelty. It is embedded into urban consumption behavior. Repeat frequency is strong. Demand density is real. Capital deployment is massive. The core question: is this durable distribution power, or capital-funded GMV?

cc: @ProximaMumbai @malpani

The Supabase shock for Indian builders 🇮🇳 In Feb 2026, access to Supabase was abruptly disrupted in India under a Section 69A order. Apps broke overnight. Auth failed. APIs timed out. Not just downtime, but unpriced policy risk baked into the default stack.