Leonardo DiCaprio is a popular American actor, film producer and environmentalist. He is an amazing actor with a dazzling portfolio in Hollywood. He has been awarded the Academic Awards known as Oscar in the year 2016.
According to Bangalore based data Analytics firm Tracxn, Leonardo DiCaprio has invested in at least six tech firms.
Startups are companies that are at the beginning stage of their business. In its initial stage, the investments are either made by the founder or reach out to the other investors. Startups always focus on a single product or service that they want to popularize in the market. Many startups get funding from family, friends or venture capitalists. If the startups have revolutionary ideas with them, then funding flows easily and is unstoppable.
“Even in this pandemic situation, Indian startups have raised $12.1 billion from venture capitalists as revealed by Venture Intelligence”.
Every young and evolving startup are backed by funds through capitalists, industrialists and big giant companies.
The famous Hollywood star has a huge concern for our environment and extended his support to ‘cauvery calling’, the movement initiated by Sadhguru of Isha Foundation. This movement was started to conserve our rivers which are vanishing at a fast rate due to climatic changes.
Sometimes movies also teach us about entrepreneurial values, the movies become the source of motivation and inspiration during the time of lows. And few inspirational movies acted by Leonardo DiCaprio is The Wolf of Wall Street, The Aviator and many more.
The popular Hollywood actor is now on the top list of celebrity startup investors. Here is the list which shows the investments made by Leonardo DiCaprio:
Startup
Funding Amount
Diamond Foundry
$100 Million
Rubicon Global
$57 Million
Casper
$55 Million
Suja Life
$20 Million
Cue Health
$7.5 Million
Qloo
$4.5 Million
Mobli
$4 Million
Fisker Automotive
~$1 Million
Rubicon Global
Rubicon Global – Leonardo Dicaprio Funded startup
Leonardo DiCaprio raises a lot of issues related to climate change and its danger to humankind. The first-ever investment he made was in Rubicon Global, a waste and recycling management services firm. Rubicon is a fast-growing garbage startup that uses the latest technology to reduce the trash and efficiently recycle or haul off the garbage.
LA Venture Fund Struck Capital
Struck Capital – Leonardo Dicaprio Funded startup
Leo has invested more than $1 million in LA Venture Fund Struck Capital and has been the Limited Partner. Leo invested in this firm as it backs startups involving in business related to the environment like Aquaculture, to improve fish farming. The firm led his initial investments in startups like Brainbas, Mythical games, Wunder mobility etc.
Fisker Automotive is committed to environmental safety and wildlife protection. This firm manufactures cars which emit low, consumes less fuel and is environment friendly. It also uses renewable materials which have less impact on climatic change. Leonardo is an equity investor and an ambassador to this firm. Fisker Automotive sells the Karma plug-in hybrid and Leo took the first delivery of Karma in July 2011, this shows that Leo plays a vital role in the marketing team of Fisker.
Kingo Energy
Kingo Energy – Leonardo Dicaprio Funded startup
Kingo energy is an Off-grip solar power company in Guatemala. In 2018 DiCaprio invested in this company, which instils solar power in rural areas as an alternative to harmful and dangerous energies. It aims at offering solar power to 1.2 billion people across the world.
Diamond Foundry is based in San Francisco and produces 100,000 carats of diamonds a year. It uses plasma reactors to create diamonds which converts microscopic shards of diamond into gemstones. It aims at reducing human efforts in mining rare minerals. In 2015 Leo invested around $100 million in this company. After he made his investment in Diamond Foundry he posted on Facebook saying, “I’m proud to invest in Diamond Foundry – a company that is reducing the human and environmental toll of the diamond industry – by sustainably culturing diamonds without the destructive use of mining”.
Casper is a company in New York that manufactures bespoke mattresses, pillows and sheets online. Many Celebrity actors have made their investment in this company along with the Hollywood star DiCaprio who invested $55 million. This company made a huge profit of $1 million in its first month which when gained much popularity.
It is a Switzerland based company that uses various technologies to study the facial expressions of humans and replicate them in virtual reality. This startup also makes various applications that mimic human’s movement, in reality, this has helped many stroke victims to regain the movements. Leo felt amazed by this technology and invested in 2017 and expressed that: “I am excited about the possibilities of MindMaze’s technology, especially for its potential to be a driving force in media and entertainment in the years to come”.
Runa
Runa – Leonardo Dicaprio Funded startup
DiCaprio is an investor and board member of the organic beverage firm Runa. It uses Guayusa which is a plant native to Ecuador to create tea and other energy drinks. The Company focuses on appreciating the efforts of 3000 families, who are given employment and improving their standard of living. This is part of sustainable farming that helps many farmers and the local people.
Cue Health
Cue Health – Leonardo Dicaprio Funded startup
Cue Health is San Diego based startup, aiming at improving the healthcare system by making wireless diagnostic devices for people to measure their own health. These devices are manufactured using different technologies. DiCaprio has invested in this healthcare startup along with Marc Benioff.
Mobli
Mobli – Leonardo Dicaprio Funded startup
It is a photo and video-sharing website founded by Israeli entrepreneurs. Mobli is one of the best platforms for people to share their beautiful moments with others. It is a form of visual information In 2011 Leo invested around $4 million in this fast-forwarding social website.
Conclusion
The actor and environmentalist Leonardo DiCaprio has become the top celebrity startup investor by investing in firms such as garbage company to mattress company till Amazonia and many other startups which aim at protecting our environment. Leo always stands for our environment and has his own organization to protect the earth from climatic change and save our wildlife.
FAQs
Leonardo had invested in how many portfolio companies?
He is an actor cum environmentalist who invests in companies whose main aim is to protect our environment. He has invested in almost 12 companies.”
What are DiCaprio’s achievements?
In the year 2016, He was awarded the Academic award that is Oscar. And he has achieved many awards and recognition because of his stunning work as an actor.”
Name a few companies in which Leo has made investments?”
Leo has made his major investments in startups related to the environment like Rubicon, Fisker, Mobli, Diamond foundry etc.
The startup ecosystem has grown over the past few years because many venture capital firms are investing in the early stages of upcoming startups. One such homegrown early-stage investing firm is Nexus Venture Partners, which was founded by successful entrepreneurs Suvir Sujan, Sandeep Singhal and Naren Gupta in 2006.
The firm has its main headquarters in Menlo Park, California with head offices in Bengaluru and Mumbai in India. Itis a pioneer of investing in global technology products and technology-led business for India. Nexus focuses on funding startups in the industries such as Enterprise Technology, Consumer Internet, Healthcare, Consumer, Business Services, Media, Software, Big Data Analytics, Data Security, Fintech, DevOps, Open Source, Education, Commerce, Gaming, Cloud, SaaS, Agribusiness, Rural Sector, Energy, Etc.
Nexus is an early partner firm and believes in being the first institutional investment in the seed or the series A rounds. The firm also has long term commitment and work closely with the startups they invest in. Nexus Venture Partners has over $1.5 billion in AUM, after partnering with many entrepreneurs from both America and India.
So far the firm is known to have invested in 294 companies and has over 65 exits. According to Venture Intelligence, Nexus has earned more than $500 million in exits by 2020. Nexus’s core identity has been its success in software deal-making, unlike other Venture Capital firms that only choose to fund successful consumer’s internet unicorns.
The firm also prefers to invest in companies from India or global markets and may also invest in companies located outside India with a focus on American based companies with technologies that are relevant for India and its emerging markets.
Here are some of the startups funded by Nexus Venture Partners
Snapdeal
Snapdeal Logo | Nexus Venture funded startups
Snapdeal is a well-known e-commerce company in India, which was founded by Kunal Bahl and Rohit Bansal in 2010. The company has its headquarters based in New Delhi and has recently grown to become one of the largest online marketplace in the country.
Snapdeal is different from other e-commerce sites because its sellers offer good quality merchandise, customers get to pay value for money which is similar to local markets in metro cities. The website has over 500,000 sellers that sell fashion and home products to customers from 3,700 towns and cities across India.
The company raised over $12 million in its first funding from Nexus Venture Partners and Indo–US Partners in 2011. Three years later, Snapdeal raised $133 million from eBay, Kalaari Capital, Nexus Capital Partners, Bessemers Venture Partners, Intel Capital and Saama Capital in 2014. The last investment made by Nexus Venture Partner to Snapdeal was in 2017 where the company raised funds Rs 113 crore from the firm.
ShopClues
Shopclues Logo | Nexus Venture funded startups
ShopClues is one of the top online marketplaces in India, that was founded in 2011 by Sanjay Sethi, Sandeep Aggarwal and Radhika Aggarwal. The company has its headquarters in Gurgaon and its parent company is Clues Network Pvt Ltd. ShopClues was said to be valued at $1.1 billion in 2015 as it was backed by top investors like Tiger Global, Helion Ventures and Nexus Venture Partners, among others.
In 2019, Qoo10 a Singapore based company acquired Shopclues for 470 million.Shopclues is the country’s first online Managed Marketplace that connects buyers & sellers online while offering a trusted and safe online shopping environment to customers in over 9000 cities across India.
The company secured over $10 million in their Series B round of funding from Helion Venture Partners, Nexus Partners and Netprice.com in 2013. According to the company, the funds were used to scale their business, increase the website’s product catalogue and expand their reach to their target audience.
Delhivery is the leading supply chain services chain company in India that was founded by Sahil Barua in 2011 and has its headquarters in Gurgaon. The aim of the company is to become the operating system for commerce in India, with the help of advanced infrastructure, logistics operations and cutting-edge technology.
Delhivery so far claims to have delivered over 500 million shipments, in 230 cities across the country. The company aims to provide products and services in order to help improve the lives of consumers, small businesses, enterprises.
They provide services such as transportation, warehousing, freight, reverse logistics, cross-border and technology services and has over 500,000 sellers and over 10,000 customers. The company raised over $5 million in its series B funding from Nexus Venture Partners in 2013. These funds were said to have been used to further expand its customer base.
Unacademy
Unacademy Logo | Nexus Venture funded startups
Unacademy is one of the top EdTech companies in India that was founded in 2015 by Gaurav Munjal, Roman Saini, and Hemesh Singh. The company has its headquarters based in Bengaluru, Karnataka, and started out as a YouTube channel from 2010 to 2015.
Currently, Unacademy claims to have over 18,000 educators that offer free and subscription-based live classes along with preparation materials for professional and educational entrance exams.
As of 2020, the EdTech startup was valued at $2 billion. Unacademy raised over $4.5 million in their Series A funding from Nexus Venture Partners and Blume Ventures, Girish Mathrubootham, (the CEO of Freshdesk), and Ananth Narayanan (the CEO of Myntra) in 2017.
The company used these funds to strengthen its base of educators from 200 to 2000. Unacademy again secured over $50 million in their Series D funding round from existing Venture capital firms like Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures.
Olx short for Online Exchange is a popular Dutch online marketplace that was founded in 2006. The company is owned by Naspers (South African media group), has its headquarters in Amsterdam and operates in over 45 countries.
Olx allows its users to buy and sell from a wide range of products and services such as electronics, fashion items, furniture, household goods, and vehicles like cars & bikes. In India, Olx has launched special services like Olx Autos (in 2020) and Olx Cashmycar (2018).
Olx is not only popular in India, but also has a strong foothold in countries like Spain, Portugal, Mexico, South America, China, and the Philippines. Olx secured over $5 million in its initial stages of funding from Nexus Venture Capital in 2009.
Zolostays
Zolostays Logo | Nexus Venture funded startups
Zolostays is a Bengaluru based company that provides services for co-living and accommodation options especially to students and young professionals. The company was founded by Snehas Choudary, Dr Nikhil Sikri and Akhil Sikri in 2015 and is available in more than 10 cities across India.
Zolostays provides many budget-friendly unique services like good quality food, carefully curated living space, dedicated support team, free maintenance and zo-tribe events. Currently, the company claims to accommodate 40,000 Zolo properties and is aiming at reaching 200,000 beds by December 2022.
Zolostays has raised $56 million in its Series C funding from Investcorp, Nexus Venture Partners, Mirae Assets and Trifecta Capital in 2020. It had also earlier raised $40 million from Nexus Venture Partners, Olympia Developers, Patni Computers Family Office and Mirae Asset. The company will be using these funds to strengthen its technology and AI-driven operating platforms.
Pratilipi is a self-publishing e-platform that offers content in ten different Indian languages which are Hindi, Gujarati, Bengali, Marathi, Tamil, Kannada, Telugu, English, Urdu, Punjabi and Odia. Pratilipi was founded by Ranjeet Pratap Singh, Prashant Gupta, Rahul Ranjan, Sahradayi Modi and Sankaranarayanan Devarajan in order to promote Indian languages.
The company was launched in 2014 with its headquarters based in Bengaluru, Karnataka. The platform currently claims to have over 2 crore users and allows its users to publish or read their original works such as stories, poetry, essays and articles. Pratilipi secured over $1 million seed funding from Nexus Venture Partners in 2016.
In 2020, the platform went on to raise Rs 76 crore in their Series C funding round led by Tencent with participation from Omidyar Network, Bennett Coleman, Shunwei Capital and Nexus Venture Partners.
Rapido
Rapido Logo | Nexus Venture funded startups
Rapido is a well-known online bike taxi and logistics service providing a platform in India that was founded by Aravind Sanka, Pavan Guntupalli, and SR Rishikesh in 2015. The company has its headquarters in Bengaluru, Karnataka and currently operates in over 100 cities across India.
In 2018, the company had over 15,000 registered riders and more than an average of 30,000 rides per day. By 2019, Rapido has 1 crore registered users and had also created over 500,000 jobs in India. Rapido has over 15 million customers and 25 million app downloads, as of 2021. Recently, the company has also launched on-demand auto-rickshaw hailing services in 14 cities across the country.
Rapido raised over $11.2 million in its Series A round of funding from Nexus Venture Partners in 2019. In its Series C round of funding, Rapido raised $43 million from Westbridge Capital, Nexus Venture Partner, Pawan Munjal Family Trust, Everblue Bangladesh LLC, Motherson Lease Solutions, Everblue Bangladesh LLC, Motherson Lease Solutions, Konark Trust, MMPL Trust in 2021.
Yolobus is an intercity bus aggregator that has its headquarters in Gurgaon, Haryana and was founded in 2019. The company provides its users with world-class bus facilities that cover over 250 routes across India.
All their busses have facilities Wi-Fi, CCTV Cameras, and GPS tracking, their customers can also choose from options such as a fleet of sleeper, luxurious sleeper buses, and AC/Non AC buses, built-in washrooms, etc.
In 2020, Yolobus raised $3.3 million in their Series A funding round from Nexus Venture Partners and India Quotient. The company will use these funds to ramp up their services, technology, customer, crew safety and sanitization. It will also enhance safety measures as in the times of Covid 19, people are wary of travelling intercity.
Druva
Druva Logo | Nexus Venture funded startups
Druva is a cloud backup and data protection based firm that has its headquarters in Sunnyvale, California with offices in Greenwich, New York, Hong Kong, London, San Francisco and Mumbai. The company was started in 2008 by Jaspreet Singh, Milind Borate, and Ramani Kothandaraman in Pune, India.
Druva is a leader in providing services like SaaS-based data protection and management products to both companies and government agencies. The company aggregates the data of the enterprise data from endpoints, data centers, and cloud workloads for backing it up or restoring, compliance monitoring, security, and other uses, etc.
So far the company has over 750 customers and is known to protect over 300,000 endpoints worldwide. Druva secured $130 million from Sequoia Capital India and Nexus Venture Partners in 2019. Druva is a pioneer as it has created an industry-first application known as InSync that instantaneous automates backups for laptops.
Postman
Postman Logo | Nexus Venture funded startups
Postman is a popular collaboration platform for API Development that was founded by Abhinav Astana, Ankit Sobti and Abhijit Kane in 2014. The company has its headquarters based in San Francisco, California and claims to be used by over 13 million developers and 500,000 organizations worldwide.
The platform helps in simplifying every aspect of building an API and streamline collaboration so the users can create better APIs. Postman raised $150 million in their Series C round of funding from Global venture capital, Insight Partners, CRV and Nexus Venture Partners in 2018.
The company had also been funded by the Nexus Venture Partner in two other rounds first was $1 million in 2015 and $7 million (Series A round funding) in 2016.
Nexus Venture Partners is one of the leading early-stage investment firms that has helped many Indian startups to grow into unicorns today. The firm has been the most successful in funding software companies, rather than consumer internet unicorns that other venture capital firms prefer investing in.
Over the years, Nexus Venture Partners has earned nearly $500 million exits. Despite being termed as a software investor, the firm is currently investing in a wide variety of industries.
Frequently Asked Questions
What is Nexus Venture Partners?
Nexus Venture Partners is one of the first homegrown Venture capital firms and is a pioneer of investing in global technology products and technology-led business for India.
Who is the founder of Nexus Venture Partners?
Nexus Venture Partners was founded by Suvir Sujan, Sandeep Singhal and Naren Gupta in 2006.
What are the industries in which Nexus Venture Partners fund?
The industries in which Nexus Venture Partners fund are Enterprise Technology, Consumer Internet, Healthcare, Consumer, Business Services, Media, Software, Big Data Analytics, Data Security, Fintech, DevOps, Open Source, Education, Commerce, Gaming, Cloud, Saas, Agribusiness, Rural Sector, Energy, etc.
What are startups funded by Nexus Venture Partner?
The startups funded by Nexus Venture partners are Postman, Druva, Yolobus, Rapido, Pratilipi, Zolostays, Unacademy, Olx, Delhivery, Shopclues, and Snapdeal among others.
When you don’t have the necessary funds to launch a startup, the pitch you deliver to potential investors can make the difference between a dream come true, and one swept under the rug.
At the end of the day, the profitability of your business idea weighs the most in the eyes of an investor, but that’s not the only factor you should keep in mind. Affluent investors can receive dozens of great business opportunities every week, and in that case, it’s the quality of the presentation that balances the scales.
Although not all of these common Powerpoint music mistakes are fatal, it’s always a good idea to be prepared. You only have one shot at a good impression, and you don’t want an otherwise brilliant startup idea to go to waste because you didn’t put a few extra hours into your pitch.
Perhaps every entrepreneur out there has fantasized about bumping into an investor in the elevator and convincing them in 60 seconds that their idea is the next big thing. Unfortunately, this is the kind of elevator pitch is one-in-a-million scenario that creates unrealistic expectations.
In reality, you should never deliver a pitch without the investor agreeing to a meeting in advance. Investors are busy people, and they won’t be impressed by your gesture.
Even if you send an unsolicited pitch via email, in 99% of cases, it will go straight to the spam folder, so, to be safe, schedule a meeting to make sure your pitch is actually heard and given the investor’s undivided attention. Also, always make sure you prepare a short and engaging pitch about yourself.
Having a limited Understanding of your Business scope
The worst moment to realize the flaws in your business model is during a pitch meeting. No matter how great your idea sounds in theory, the moment when an investor realizes you don’t know your product or the market, they will lose interest.
Not doing your research comes across as unprofessional and lazy and raises red flags – especially if you don’t have prior experience. So, know your audience, know your product and your competitors because you will 100% be asked about these things and, it will help you deliver a perfect pitch.
Not bringing enough materials
Even if your pitch is short and sweet, the investor will still need documents to back up your claims, provide a roadmap of business development, and expand on aspects that couldn’t be addressed in the meeting. Even if the investor did not request anything specifically, you should still bring with you the following:
Executive summary (a shortened version of the business plan)
Revenue forecast, cash flow, and operational expenses
Resumes for members of the upper management, detailing their experience in the field.
To be extra safe, you should have both digital and physical copies of these documents. Referring to them during the sales pitch shows that you’ve done your homework and that you’re committed to your idea.
Lackluster Presentation Skills
A great presentation can’t turn a bad business idea around, but it can prevent investors from losing interest and forgetting your file in a drawer. Unfortunately, not everyone was endowed with Steve Job’s charisma and presentation skills, which is why the more you rehearse at home, the better.
You never know how you react under pressure, so having a script to refer to can save you from all those umms and errs that weaken your language and make you sound like an intimated high school student. It also helps to keep your presentation short.
Don’t show up to the meeting with a 50-slide presentation filled with large blocks of text. Instead, keep the number of slides to a minimum, use appropriate Powerpoint music, and focus on strong, impactful visual elements. The PowerPoint presentation should include key figures and ideas, but you’re the one controlling the conversation. In general, 15 to 20 minutes is more than enough for the investor to understand your business idea, so structure your pitch around this interval.
Pitch meetings aren’t a one-way street. The investor won’t give you a yes or a no after you delivered a monologue. On the contrary, expect lots of questions and don’t panic if they insist. What makes your idea so special? Why should they pick you out of all people? Can you guarantee that customers want your product? It’s just a way for them to check that you know what you are talking about and clarify some of the things they should know before going into business with you. And, when the questions inevitably get tough and touch on vulnerable points (after all, no business is immune), don’t react negatively.
By working with you, investors are taking a risk, and it’s normal for them to address problematic topics. If you become too defensive, rude, or downright avoid the questions, you may come across as unprepared or difficult to work with. Instead, try to answer difficult questions as transparently as possible and avoid the scripted “I’ll get back to you on that later.”
Making the pitch without a demo
You can’t make a demo for every business idea under the sun but, if your business model allows it, then creating a demo, even a rough one, can make your pitch more persuasive – especially if it’s technology-focused.
First of all, a demo helps investors visualize concepts that may sound difficult in theory. And secondly, it shows that you already have a capable team and that you went the extra mile and that you’re serious about your product.
Many times, investors meet up with entrepreneurs who only have an idea but don’t believe in it enough to put it into practice, so a demo helps you stand out from the crowd.
Forgetting to follow up
No matter how the pitch meeting went, you should take the time to send an email to the investor, thanking them for their time. Avoid generic, template messages and personalize your follow-up in a way that’s relevant for your interaction. It’s a small gesture, but it goes a long way.
FAQ
How long is napkin elevator pitch?
A good elevator pitch should last no longer than a short elevator ride of 20 to 30 seconds.
What is a common mistake of pitching?
The most common mistake you should avoid while pitching is not overloading your audience with information.
How do you end a pitch?
A great way to end a pitch is to ask them to join you on a mission or journey.
On 28th August, it was announced that Bharti Airtel might get an investment of up to thousands of crores from Google. According to sources, Google and Airtel were in talks for over a year and are currently said to be in the advanced stages of negotiations. Airtel is also planning other fundraising options as it had a debt of Rs 1.6 lakh crore in June 2020 because it was unable to raise tariffs freely.
Google had earlier invested over Rs 33,737 crore in Reliance industries digital subsidiary, Jio Platforms Ltd in order to get a stake of over 7.73% in the Jio platforms which is currently the main rival of Airtel. Both Google and Airtel have not made any formal announcements regarding the upcoming deal, but media sources say that Google’s investment in Airtel will be several thousand crores of rupees.
The details of the partnership are being worked up by the executives of both the companies, while their internal and external legal and M&A teams are involved with sorting out the smaller details of the arrangement.
According to one of the Analysts, “The entry of Google adds strength to the balance sheet of Airtel. Also, it helps the company strategically as Google brings in innovation capabilities and strength on data analytics. Google’s data monetization is far superior to any other company in the world, and it can help Airtel monetize its data much better to improve its realizations and profitability.”
The analyst also added that, Google may have big reasons to why it’s investing in Airtel as, “If anything goes wrong tomorrow, your (Google) credibility in the market goes out even though it will be limited liability. To save its name, the company will have to settle its dues in case Airtel is not able to move ahead due to financial pressures and starts slipping down.”
How will this deal benefit Airtel?
If this deal is successful, it will be a major help to Airtel as it is currently facing many problem because of its competitors like Reliance Jio that are providing data at cheaper prices. Jio was the reason behind disrupting the successful financial model of the industry. Other Telecom companies like Vodafone and Idea Cellular were forced to merge because of the stiff competition from Jio.
Google’s investment and data monetization methods have the possibilities to help Airtel to become successful, earn more money and work on its profitability. Airtel is also raising more funds so it can increase the capacity of its 4G networks around India. This investment by Google can also help the telecom company to set a lot of things in order, pay off the debts to the government and also invest in 4G and 5G networks.
In July 2020, Google announced that it had set aside $10 billion funds to invest in the startups of India over the course of five to seven years. The investment was said to be in the form of investments, seed investments, partnerships among other arrangements. This was planned in order to accelerate digitization in India and reduce the gap in the Indian tech investments ecosystem.
This fund was said to be invested in the sectors of consumer tech, education, health, agriculture, technology, AR &VR, and helping SMEs. This fund initiative was called the Google for India Digitization Fund as it aimed in helping Indian companies to grow in their Google portfolio.
This morning, had an extremely fruitful interaction with @sundarpichai. We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India’s farmers, youngsters and entrepreneurs. pic.twitter.com/IS9W24zZxs
Google has made numerous investments in Indian startups and ventures over the few years. In 2013, Google has invested Rs 3.13 crore in Sana Ventures as a part of a seed round funding and the same year it also invested Rs 3 crore in Agastya International Foundation. After that in 2017, it went on to invest Rs 3 crore in CueMath which is a well-known online Edtech company. In 2020, Google also invested over $27,500,000 in the series E funding of Aye Finance which is a Gurugram based Fintech Company.
It also invested over $12 million in Dunzo an Indian delivery company in 2021. In 2020, Google invested $100 million for DailyHunt and an undisclosed amount in Glance which is both news platforms. The same year’s Google invested over Rs 33,737 crore in Jio Platform which is the digital subsidiary of the conglomerate Reliance Industries. This investment led to Google claiming a 7.73 % stake in Jio Platform and helped Jio clearing its debt ahead of its March 2021 target.
Mukund Mohan is a 48 year old Indian American Tech Executive and Investor that has been sentenced for perpetuating a scheme to fraudulently obtaining more than $1.8 million worth of Covid 19 disaster relief loans. Mukund Mohan was sentenced to a two-year prison on 25th August by the Western District of Washington. Mukund Mohan is a former Amazon, Microsoft Ventures executive and well-known curator at Vangal.
Before getting caught, Mukund Mohan was a well-known angel investor who was based in Clyde Hill of Washington state. Mukund Mohan completed his education in Computer Science at Mysore University, India and then rose to become the Director of Engineering at Microsoft in America. After that Mohan became an entrepreneur in Bengaluru and also claimed to be the founder of over five companies.
How Mukund Mohan claimed the Covid 19 Relief Funds
To cover up the fraud, the infamous investor was known to have submitted fake and altered documents, which also included fake federal tax filing and incorporation documents with altered information. Mohan initially wanted over $5.5 million through eight fraudulent disaster loan applications and in order to claim these benefits, the fake documents included tax filling of six companies are Zuput, GitGrow, Vangal, Expect Success, Mahenjo Inc and Zigantic LLC.
Only five out of the eight fraudulent loan applications were approved, bringing the total up to $1.8 million. According to sources, the funds were taken in order to help small startups retain their workers during the difficult time of the Covid 19 Pandemic where small startups would not have a steady capital flow. Mohan was arrested in the month of July 2020, for forging fake and altered documents in order to acquire over $5.5 million from Covid relief funds.
Mukund Mohan giving a speech
Based on the complaints, one particular company he applied loans for with misleading statements and false documents was Mohenjo. This company was purchased by Mohan in May 2020, which at the time did not have any employees or business activities. But according to Mohan’s fake documents the company was said to be in operation from the year 2019 and had employees for whom the company paid millions of dollars for employers salaries and payroll taxes.
Mukund Mohan went on to plead on his blog on 14th August 2020 saying that,
“I hurt people who trusted me, believed in me, and now are beside themselves. Unfortunately, I cannot talk about the details given the legal circumstances, but I truly apologise… I own my mistake, and now I have to course correct. Seeking help is what I am doing. I think the road ahead, though, will be very long,” Mukund Mohan.
Mukund Mohan is now accused of perpetuating a scheme to obtain Covid-19 disaster relief loans guaranteed by the Small Business Administration through the Economic Injury Disaster Loan and Paycheck Protection Program which are under the Coronavirus Aid, Relief and Economic Security (CARES) Act.
According to the press release of the United States Department of Justice, the techie has now been ordered to pay a fine of $100,000 and $1,786,357 in restitution. Mohan is now pleading guilty to wire fraud and money laundering with regard to his scheme of obtaining over $5.5 million under the Coronavirus Aid, Relief and Economic Security (CARES) Act.
Mukund Mohan’s past claims for fame
This was not the first time Mukund Mohan has been involved with fraud cases, malpractices and fraudulent claims. From 2008 to 2012, Mohan had also made false claims of being a co-founder of over five startups, investing in 11 companies personally and three other companies through Napkin Stage (an investment firm).
Out of the five startups that were said to be found by him, four startups excluding BuzzGain failed as they didn’t raise any funds. Whereas out of the three other companies said to be funded via Napkin Stage, ChargeBee and SignEasy clarified by saying that Napkin Stage was only an advisor and did not fund them.
Nowadays, people are working for future prosperity, where something you have earned in the present will reflect as a beget in the future; that too something huge in return.
Have you heard of Mutual funds, where a pool of money is collected from many investors to be funded in securities, bonds and other money market instruments? A Mutual fund plays as an investment as well as a company. Mutual funds works, where you as an investor buy a unit of share of a part of the mutual fund say as, portfolio’s value. Therefore, technically, the investor buys partial ownership of the company and its assets.
If the funded amount showed positive returns which highly depends on the securities the investors decided to buy, then the investors receive profit, while in the case of deprivation in the return; vice-versa. The investor of mutual funds earns their returns in three different ways such as- dividends, Capital gain and a hike on the mutual fund’s scheme.
Most prevalent mutual fund schemes in India where investors participate in stock markets in the long run because the return in those markets is comparable high to others.
Sector-specific fund
These mutual funds have high risk in terms of high potential return, where the investors fund their money in specific sector segments such as mining, banking, infrastructure etc.
Index funds
Index mutual funds are a medium risk factor, to those who don’t want any fund manager to manage their returns.
Tax saving funds
These funds are a tax deduction, where these investments have a 3 year lock-in period that plays as tax benefits to the investors.
Debt Funds
These ilk of mutual funds are credit risk, which has a low-risk appetite as well as low outcome. Debt funds are suitable for those investors who are coveting steady income from the fixed investment such as Government bonds or debentures.
Money Market Funds
Investors who are seeking reasonable returns in the investment over a short period of time can enroll into money market funds. Moreover, it has a low-risk factor where the return comes in liquid form so it will be a reasonable return on investments.
Hybrid Funds
It is similar to Balanced funds, despite the proportion of equity assets being juxtaposed to balanced funds. This kind of mutual fund is highly recommended to retired or geriatric who expect low risks.
Balanced Funds
Balanced mutual funds divide the investment between equity and debt mutual funds, where moderate returns with comparatively low risk vary according to the market risks.
Open-ended funds:
Here, the investor can enter, redeem or exit at any point in time because an open-ended mutual fund doesn’t have any fixed maturity period
Close-ended funds
Close-ended funds have a fixed maturity date, so the investors can only enter into the market during the initial period of any mutual funds scheme known as the new fund offer; Furthermore, their investment can be redeemed only when the maturity period expires.
Gilt funds
These mutual funds invest only in Government securities, which has no credit risk associated with their investment but has a high interest risk rate.
Mutual fund value as a part of individual wealth in financial assets
The mutual fund industry in India was established back in the year 1963 at the launch of Unit Trust of India by the Government of India. The first very step to the millennials happened in 1964, where UTI introduced the first mutual fund scheme in India and public sector enterprises likewise SBI, Punjab National Bank, Indian Bank, and Bank of Baroda entered the scheme, which was worth 6,700 Crores at the end of 1988.
After a great heyday in India regarding mutual funds, the industry colluded to open a portal for the private sector and by 1993 onwards India has burgeoned in the Mutual fund Industry.
According to the statistics, it is reported that the Indian mutual fund industry had assets under management of 31.43 trillion as of March 2021 which resulted in a jump of 41% in fiscal 2021.
Recent changes by SEBI in the Mutual Fund Industry in India
In June 2021, some amendments were made to SEBI regulation 1996, where they should comply with those new rules of the mutual funds’ stated by 1st September 2021. The mutual fund is required to share details of risk, performance, outcomes, portfolio to investors only for the scheme they have invested in.
Major Players in the Mutual Fund Industry in India
The money invested in the mutual funds is managed and the schemes are operated as per the regulations of mutual funds by entities registered under the companies act for this specific purpose and they are known as Asset Management Companies. The major AMC offering services in India 2021 are:
Current Condition of the Mutual Fund Industry in India
The Mutual Fund Industry’s Assets Under Management (AUM) saw a rise of 41 per cent in FY 2021. As of 30th June 2021, the AUM was valued at INR 33.67 trillion. In fiscal 2021, the biggest attraction was the corporate bond funds with net inflows of INR 3,299 crore. The highest net outflows of INR 28.923 crore were seen in credit risk funds.
Conclusion
Indian People are big fans of Cricket and the players too. And these cricketers are big fans of Mutual Funds or it seems as they say “mutual funds SAHI HAI!”. The mutual fund industry is rapidly growing and the SAHI HAI campaign that was launched in 2017 has contributed a lot to this growth as people are aware of mutual funds and results in investor education.
The first quarter of FY 21-22 added 12 lakh investors to the fast-growing mutual fund industry in India. As more people learn about the benefits and security provided by mutual funds, the industry is expected to see favorable growth in the coming years.
FAQ
What is the mutual fund industry?
Mutual Fund Industry are the companies that pool money from various investors and invests the money in securities like stocks, bonds and short term debt. A portfolio is the combined holdings of the mutual fund of the company.
What is the total revenue of the Mutual Fund Industry in India?
As of 30 June 2021, the AUM (Assets Under Management) of the Indian mutual fund industry is around INR 33.67 trillion. The AUM of the Indian Mutual fund Industry as of 30 June 2016 was INR 13.81 trillion. The industry has seen a two-fold increase in the span of 5 years.
Who is governing and regulating the mutual fund industry in India?
Mutual funds are primarily regulated by the Securities and Exchange Board of India (SEBI). The approval of the Reserve Bank of India (RBI) on a mutual fund is required to provide a guaranteed returns scheme. The Ministry of Finance of India acts as the supervisor of the RBI and SEBI. The mutual funds are regulated by SEBI, RBI, the Companies Act, Indian Trust Act, Stock exchange and the ministry of finance.
Ever since Narendra Modi the Prime minister of India made an official announcement about “Make in India” it became a movement to enrich the startup economy of India. Since then it has received a good deal of support from people and companies not only from the nation but also from all around the world. Large corporations also lent their helping hands to enrich this journey. All these efforts resulted in the improvement of startup culture in India.
Celebrities have been an active part of this investment program. This has not only increased investments in startups but also has provided encouragement to do the same. Common people idolize celebrities in almost every aspect of life. Hence watching their favourite stars invest in startups would definitely enable them to invest in startups too.
The “Dada” (elder brother) of Bengal did not fall back on the trend either. Sourav Ganguly is the former captain of the cricket team of India. He is a cricket administrator and president of BCCI now. He is also a cricket commentator.
Sourav Ganguly established himself as a leading batsman of the Indian cricket team. For his prolific offside effects, he was called the “God of the offside”. He was also termed as the “Maharaja of Indian cricket”. He is remembered controversially too from his iconic shirt wave on The Lord’s balcony. It was a historic moment as a reply to the arrogance of England’s cricketers.
However, Sourav Ganguly has always been very experimental and unique in attitude.
At the very beginning of the year 2018, the news of Dada investing in startups was known. He invested in an entertainment company called Flickstree. Flickstree is a tech infotainment institution founded in the year 2014 by Saurabh Singh, Rahul Jain and Nagendra Sangra. It began in the year 2017 in India.
Flickstree is basically an Al enabled video publishing network enabling users to attain more engagement and traffic in their videos. It is a personalized video magazine. It curates free to watch videos for its subscribers. It has a collection of videos from apps like Facebook, YouTube and so on. The greatest benefit of this platform is that people can find videos they desire to see gathered from every source and app at once. It saves both energy and time.
Users are provided with categories like comedy, documentary, drama to watch and choose their video from.
According to Sourav Ganguly digital entertainment is gradually engrossing the crowd. Both cricket and entertainment according to him are good scopes to invest in. India is gradually building a hunger for both. Hence he saw an opportunity to invest in this tech entertainment factory.
Flickstree is also backed by FBStart, a Facebook program. It has been sponsored by multiple companies. Aditya Group, Venture Catalysts and Moksh Sports Ventures are the companies that primarily invested here.
Users can subscribe to a single magazine of videos as of 2018. Dada says he would want the creators to facilitate the users with a multiple video magazine facility.
The makers of this startup want their business to roll out abroad in countries like Australia and Indonesia.
Hence we can say the first try in the sphere of investment in startups was a win-win for Dada.
By the end of 2020, there was a talk of Sourav Ganguly investing money in Classplus. Though the amount pumped is undisclosed. Classplus is an Ed-Tech company helping teachers and students connect better. It helps teachers create material, teach, take tests and much more. Hence Sourav Ganguly in every way has invested in good spaces. Recently we have also seen him in ClassPlus’s advertisements.
We are looking up to him for investing in sport based spaces really soon.
FAQ
What is the net worth of Sourav Ganguly?
The net worth of Sourav Ganguly is around $50 Million (Rs.365 Crores).
What is the age of Sourav Ganguly?
Sourav Ganguly was born on 8 July 1972 and is 49 years old.
When did Sourav Ganguly retired from cricket?
Sourav Ganguly retired from international cricket in 2008.
Tiger Global Management is known to be the most statistical and voracious startup investors among all. It has developed with a great prospect and is proceeding towards investing in more prominent startups, especially those who hold the potential to earn unicorn status someday. And in recent years, Tiger Global Management has made hostile growth.
Tiger Global Management is a New York-based investing firm, built in the early 2000s. The firm not only made remarkable progress but also became one of the most prolific investment firms among the billion-dollar startups. The estimated value of the total assets of Tiger Global Management is around $65 billion.
In the initial days, Tiger Global Management invested in private companies in India and China but now, the firm invests in some of the biggest startups companies. But, how does the firm gain such progress? Well, to understand it better we need to know the strategies and portfolio for Tiger Global Management.
According to the Crunchbase data, Tiger Global Management has invested in 118 companies in 2021. The firm has made ten times more growth in the initial months of 2020. In this article, we have presented some of the biggest investments made by Tiger Global Management. Let’s get started!
Infra.Market is a well-established technology firm that offers a one-stop marketplace for manufacturing materials and goods. Recently the firm has raised its Series C funding to $100 million led by Tiger Global Management along with some other potential investors like Nexus Venture Partners, Accel Partners, Sistema Asia Fund and Fundamental and Evolvence India Fund.
The largest funding amount received by Infra.Market is $1 billion making its absolute way to the unicorn list. This funding is intended for the advancement of the seed market and their private label brands enhancements, technological offerings and direct-to-direct channels and exports. The company founded by Aaditya Sharda and Souvik Sengupta in 2016 has made quite an impactful position in the market.
Innovaccer
Innovaccer Website
The very prominent Innovaccer is a healthcare software-as-a-service (SaaS) startup. The company has recently gained unicorn status after the tremendous fund-raising session by Tiger Global Management, which helped it reach a valuation of $1.3 billion.
The last year estimated valuation of Innovaccer was $350 million after the Series C funding round but when the SaaS startups were globally increasing their capital and catching investors attention, Innovaccer raised the valuation to $105 million in the new round.
Innovaccer has many potential investors such as Dragoneer, Steadview Capital, M12, B Capital Group and Mubadala Capital. These investors participated in the new round of funding along with the OMERS Growth Equity. And so far, Innovaccer raised $225 million.
The widely famous Ola Electric Mobility Pvt. Ltd is a well-established private company in India for its cab services. Recently, Ola received a great investment from the ride-hailing unicorn’s investor, Tiger Global Management.
Ola is aimed to enhance its Mission Electric programme which was announced last april. In this programme, Ola will launch 10,000 electric vehicles, mainly three-wheelers and intended for promoting one million electric vehicles by 2022.
Ola is currently testing several commanders to deploy electric vehicles and their charging solutions. Moreover, it is working on the advancement of battery swapping stations and two or three-wheeler electric services.
Ola is making its strong uphold position among the industries and currently working with many prominent automobile industries in order to enhance the functioning of electric vehicles.
Brex
Brex Website
The prominent San Francisco based startup, Brex Inc., offers corporate cards to several companies as well as venture capital-backed companies. It received a major uplift of $425 million through a funding round investment by Tiger Global Management.
Previously, Brex valuation was estimated as $7.4 billion from the investment from TCV, Ribbit Capital and many other firms.
Brex entered the sector which was majorly dominated by the likes of either American Express Co. or JPMorgan Chase & Co. The company experienced progressive growth together with manufacturing other products such as business cash accounts and bill pay software. This brought a clear targeting measure for traditional established small to the big businesses.
Flipkart is a well-known E-commerce company, whose $14 million worth of shares has been sold to the Tiger Global Management firm by its co-founder Binny Bansal. Ever since Walmart grasped its hands around the E-Commerce firm, this would be the third time when Binny Bansal sold a tranche of his share.
The shares holding of Binny Bansal has been transferred to two types of Tiger Global Management funds. The first part of the share i.e., 47,756 equity is transferred to the existing Internet Fund III Pte Ltd. and the other 54,596 is to incoming Tiger Global Eight Holdings.
Conclusion
Tiger Global Management has made great progress in recent years and the firm has gained many portfolios as well. The firm is going for every potential startup doesn’t matter how established they are in the market. It is investing in many new potential startup companies through millions of shares.
In other words, Tiger Global Management is acquiring every opportunity of investing in independent potential startup companies. And with this exponential graph flow, Tiger Global Management is estimated to grow even more aggressively.
Today, almost every startup aspires to secure investment from Tiger Global Management. However, there are still many heights that Tiger Global Management has to reach.
FAQ
What is Tiger Global Management?
Tiger Global Management is an American investment firm that focuses on internet, software, consumer, and financial technology industries.
What are the top startups funded by Tiger Global Management?
Flipkart, Brex, Infra.Market, Innovaccer and Ola Electric Mobility are top startups funded by Tiger Global Management
Who is the founder of Tiger Global Management?
Chase Coleman is the Founder of Tiger Global Management.
Silicon Valley has seen a lot of successful startups and the emerging of the big tech companies such as Google, Facebook, etc. But there has been a recent news where a CEO of one of the companies had become a billionaire and had failed in the Silicon Valley. In this article let’s look at who exactly is Takanori Nakamura and how he turned to be a billionaire.
Takanori Nakamura a CEO who had failed in the Silicon Valley has become successful in his home country. His company’s stock price has surged and provided a return of around 4,500%. He was pulled out of Silicon Valley in the year 2015 after his mobile marketing software had failed and later on decided to completely take his business into Japan which is his home country.
Now the efforts put by him are paying off and his company Rakus Co. has seen a surge in its stock price of more than 4000% since the day it was listed in Tokyo. The company that year was also one of the best performances on the stock market index of the country.
About Rakus Co.
Rakus Co. is the latest startup in Japan which created a vast wealth for its founder which saw a surge in its price after the company went public. The company is considered to be an example of how some of the hot stocks of the country apply cloud based software and Artificial Intelligence into business ideas which a lot of people consider it to be boring.
Takanori Nakamura owns around 34% stake in the cloud based expense software firm and serves as the president and the chief executive officer of the company. According to the Bloomberg Billionaires index, his net worth has seen a surge to around USD 1.9 billion.
Takanori Nakamura has conveyed that he doesn’t feel real about his newfound wealth. One of the major dreams of Nakamura was to be able to eat out without worrying about the cost and now he is grateful that he doesn’t have to worry anymore.
Nakamura used to love reading the tales of rags to riches as a boy and had decided in high school that he wanted to be an entrepreneur. He had finished his graduation from Kobe University and soon after that, he joined the telecommunications giant Nippon Telegraph and Telephone Corp in the year 1996. However, after a year he had quit the company.
He founded a company in the year 2000 which is a predecessor of Rakus Co. The company had provided training to engineers on how to use and operate the Linux which is an open source operating system. The company later had branched out in different areas where it provided services such as email services and a software that helped in automating the data processing.
In the year 2009, the company had launched its main business which the current business of Rakus Co. The company released a software called Raku Raku Seisan which means easy easy settlement in English. This software helped the workers to create expense reports online and later the company had developed a mobile version of the software as well.
In the initial stages, the Software had failed to take off and Nakamura had set his sights and thought that they would win and succeed in the Silicon Valley. He had planned to develop a software which helped the companies to analyze how effective their ads that are run on social media and to whether decide to pull or continue to run their ads.
He had a thought that the company required a pull in the overseas market because the population of Japan was declining during that period of time. But eventually, the idea and the business had failed in the Silicon Valley.
According to Nakamura, the US based companies were pouring in investments in the Silicon Valley and competing with them was kind of impossible for them. So later on, he realized that with the given resources the company has a better chance to win in their home country and in the year 2015 Rakus Co. had gone public on the Tokyo stock exchange.
The company started taking off as Smartphones became more popular in Japan. According to the company, the software developed has more than 8,000 corporate customers. The company is also estimated to have a potential for medium term and long term growth.
FAQ
What is the net worth of Takanori Nakamura?
The net worth of Takanori Nakamura is 180 crores USD.
Who is Takanori Nakamura
Takanori Nakamura is the founder and CEO of cloud software firm Rakus, his company offers cloud-based solutions for small and medium business enterprises. He founded Rakus in 2000 and the company went public in 2015.
On a cryptography mailing list in 2008, a person named Satoshi Nakamoto published a white paper outlining a digital currency that would allow for secure peer-to-peer transactions. That’s how Bitcoin, the world’s first cryptocurrency, came to be. Since then, a lot of different types of cryptocurrencies have emerged, like Ethereum, Litecoin, Ripple, among many others.
Celsius is a fee-free Blockchain-based platform that gives users access to tailored financial services that aren’t offered by traditional financial institutions. It is easily accessible through a smartphone and easy to use. You can acquire financial services and terms via the Celsius Network that you wouldn’t get from a typical bank.
Celsius (CEL) was launched in June 2018 by Alex Mashinsky. It is a cryptocurrency token that provides a one-stop shop for banking and money transfers. It is intended to make wallet-style payments, loans, and award prizes for investing in cryptos. The users get paid out on a monthly basis and earn interest on their investments.
Anyone with a smartphone can use the Celsius Network. Unlike a bank, CEL simplifies the payment and investing processes for users while challenging traditional banking practices. Users receive 80% of the profits as an incentive, while the remaining 20% is used to fund other projects. The Celsius Token does not require a minimum amount to earn interest, and this policy puts traditional banking services to the test. The Celsius Network provides a completely distinct cost structure in the way you operate and maintain your assets, with less constraints and greater rewards.
CEL Rewards
How to Invest In Celsius Token?
Sign in to celsius
One can easily buy CEL through its mobile app and become a member. ETH, BTC, XRP, BCH, LTC, XLM, and SGA are among the top cryptocurrencies accessible for purchase using the Celsius app. You can also create an account by the website but it is heavily reliant on apps and to work on their web-app you have to clear KYC and AML on the app.
Is Celsius a Good Investment?
As cryptocurrencies like Bitcoin, Dogecoin and Ethereum are gaining popularity, and promise a decentralized future for investments and asset transfers, it is tempting to invest in cryptos and earn large profits. Celsius can be a good investment as it offers a big chunk of profit as a reward and eases the money transfer and loan procedures. It can lend money while paying extremely good interest rates and using their cryptocurrency as collateral. The biggest benefit of Celsius Token (CEL) is there are no minimum investments, so you can earn money right away by putting in anything you wish. The service gives you the option of receiving or paying your money in either crypto (any cryptocurrency you put) or CEL tokens.
It is a great service, but, like every other thing on this planet, it has its cons too. Most Celsius tokens are not saved in a cold wallet, and so are not as secure as you might believe, because it’s the equivalent of giving the company your passwords. CEL may not be able to give loan insurance right away. By committing to utilize its balance sheet to reimburse users’ losses in the event of a hacker, the company is seeking to earn the same level of trust as most financial institutions, although it cannot assure fixed-term contracts. The last decision is always going to be yours, so choose wisely what you want to do with your money and how much you are willing to invest and can afford to lose.
Celsius Future Value
As the digital money is getting bigger and bigger and physical money is decreasing, this is the right time to invest in some cryptocurrencies. Currency is an important part of our life and investing in crypto is always going to be a smart investment. And with the increasing popularity of CEL, its value is also increasing. According to Wallet Investor, If you have CEL worth $100, they can become $696.69 in 2026. You can invest in CEL, as it has been predicted to be immensely valuable in the future. Currently, Celsius has over $730 million in tokens and has about 101,000 members all over the world. The network has totaled $12 million in interest and it also helps to originate loans worth almost $5.5 billion.
Conclusion
Celsius can be a great opportunity to earn money by investing in the CEL Token, but you have to do your research and keep track of the value in your country and the benefits you can get. It has an easy-to-use app and anyone can invest and buy crypto conveniently through their smartphone. But one should be careful and beware of all the risks that come with investing in these tokens. But with its increasing popularity, it’s been predicted to have a valuable future.
FAQs
Does Celsius have a web app?
Celsius has a web app and can be used by vising to app.celsius.network.
Is Celsius network a US company?
The headquarters of Celsius Network Inc. are in New York, New York, USA.
Does Celsius require KYC?
KYC, or Know-Your-Customer, requires the user to validate their information, and is mandatory for making a Celsius account.
How long does it take to get verified on Celsius?
Account approval takes around 2-3 minutes but sometimes it can take up to 24 hours.
PV Vyshnavi
