Brightpoint Studios, Founded by Vah Vah Co-Founders, Secures $5-6M Funding Ahead of Launch

• ByStartupStory     |    November 25, 2023

Brightpoint Studios, a startup formed by the co-founders of Bengaluru-based vocational training startup Vah Vah, has secured funding ahead of its public launch, sources familiar with the matter revealed.

“Peak XV and Nexus are leading a new round to the tune of $5-6 million in Brightpoint. The term sheets already have been signed and both investors agreed to invest in the company,” said an anonymous source.

In July, Muthukaleeshwaran Subbiah and Shailesh Daxini reportedly closed down their startup Vah Vah, leading to the layoff of more than 150 employees. Vah Vah, offering professional courses in makeup and hair styling, faced challenges in raising funds and establishing a sustainable business model, prompting the decision to cease operations.

“Brightpoint Studios will be similar to Thrasio model for gaming apps. It has already acquired a company and will take over more such small companies in the future,” said another anonymous source. As per sources, Brightpoint is set to launch officially in a few weeks.

Queries directed to Peak XV, Subbiah, and Nexus did not receive an immediate response.

Vah Vah was part of the fifth cohort of Peak XV Partners’ accelerator program Surge (formerly Sequoia Capital India). Alongside Vah Vah, 22 other startups, including Absolute, ADPList, ApnaKlub, Belora, OneCode, PowerPlay, Pankhuri, Rara, and Delivery, participated in the accelerator program.

Belora, also part of the Surge program, shut down operations due to challenges in securing follow-on funds and devising a viable business model.

Since its rebranding in June, Peak XV Partners, including Surge, has backed nearly 15 startups, such as Neo, Vaaree, Grapevine, Bright Money, Digantara, Pingsafe, Atlys, Plotch, and Ethereal Machines. Nexus, aiming to close a $700 million fund, supported startups like GigaMl, Wootz.work, SmartStaff, Kiwi, and CapGrid in 2023.

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