Gemba Capital 2022 Year in Review

  • India’s GDP in 2022 stands at USD 3.5Tn with 850Mn Internet users (up 6x from 140Mn users in 2012).
  • Online retail spend has jumped 35x from USD 2.1Bn in 2012 to USD 70Bn in 2022.
  • Total online advertising spend in India in 2022 was USD 6.5Bn (up 20x from 2012).
  • Digital transactions worth USD 22.2Tn took place in India in 2022 alone.
  • We invested in Showroom — an online vertical focused B2B marketplace connecting apparel manufacturers and retailers from Tier 2+ cities in India. A $1M pre-seed round led by Strive VC and co-led by us.
  • We invested in Pay3 — an instant payout infrastructure similar to Visa for credit cards leveraging digital currency networks across public, regulated and permissioned networks.
  • We invested in Kredmint — embedded payment and credit partner to MSME distributors and retailers. We are one of the two VCs along with other marquee angels in the $2M pre-seed round.

Reflections on early stage investing

One way we try to do it is by first isolating the tree from the forest.



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Adith Podhar

Entrepreneur First | Founder - Gemba Capital | Early stage Investor | Ex PE | Amateur Photographer | Foodie | Traveler |