The startup and IT markets in India have finally found product market fit: Mukul Arora is a partner at Elevation Capital
- ByStartupStory | January 18, 2022
Mukul Arora was wistful when he travelled to Silicon Valley for employment in 2010-11. The expanding technology sector in Northern California was a hub of venture capital and ambitious companies, whereas things in India were only getting started. SMS was still considered cutting-edge technology by several venture capital firms in the country.
Arora, a young executive with SAIF Partners at the time, used to believe that the Valley was where the actual activity was, and that India was lagging.
He couldn’t be more dissatisfied right now. Arora, who has been a partner at the renamed Elevation Capital for five years, has been an early investor in some of India’s biggest and most successful startup stories, including food delivery business Swiggy, online store FirstCry, and commerce firm Meesho.
In the year 2021, his firm created six unicorns, or startups worth a billion dollars or more. In India, too, 2021 was a historic year, with over $35 billion in startup funding and the birth of 43 unicorns, which was unprecedented in every way. In India, too, 2021 was a historic year, with over $35 billion in startup funding and the birth of 43 unicorns, which was unprecedented in every way. Arora was appointed co-managing partner last week, with founder and US-based Ravi Adusumalli, to handle Elevation, which manages over $3 billion in India.
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