3STATE Ventures
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Overview
3STATE Ventures is a venture capital firm focused on investing in innovative technology startups. It was founded by Binny Bansal, who is also a co-founder of the Indian e-commerce giant, Flipkart. Since its inception, 3STATE Ventures has raised significant funds to back promising startups, particularly in the fintech and e-commerce sectors. The firm is based in Singapore, positioning itself strategically to tap into lucrative Asian markets. Over the years, it has made notable investments in companies like Scapia and ShopOS, which have become significant players in their respective industries.
Recent Developments
- June 26, 2025: 3STATE Ventures led a $20 million funding round for ShopOS, an AI-native operating system for e-commerce brands, co-founded by the creators of Scapia. This investment aims to accelerate product development and expand the international brand footprint of ShopOS (Business Standard).
- April 2025: Scapia, a travel fintech company, raised $40 million in a Series B funding round. The round was spearheaded by Peak XV Partners, with 3STATE Ventures participating. Scapia plans to use these funds to enhance its product offerings and integrate AI into its operations (Financial Express).
- March 2024: 3STATE Ventures participated in a significant funding round for Curefoods, a cloud kitchen startup, leading a total investment of ₹300 crore. This move came as Curefoods sought to expand its geographical reach and diversify its business model (Economic Times).
- July 2023: The firm invested in the e-commerce venture OppDoor, aimed at helping emerging online retail brands expand their global presence. This strategic investment underscores 3STATE Ventures’ focus on the growth and scaling of digital retail platforms (Economic Times).
Company Information
| Attribute | Information |
|---|---|
| Founding Date | Undefined |
| Headquarters | Singapore |
| Founders | Binny Bansal |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Private Capital |
| Industry | Venture Capital |
| Number of Employees | Not publicly disclosed |
Early History
3STATE Ventures was founded by Binny Bansal, notable for his pivotal role in building Flipkart, one of India's largest e-commerce platforms. After his departure from Flipkart, Bansal redirected his efforts into venture capitalism with the establishment of 3STATE Ventures. The firm was primarily set up to leverage Bansal's extensive experience in tech startups and his network across Asia's emerging markets. Initial investments were predominantly in sectors where Bansal had strategic insights, including fintech and digital commerce, allowing him to guide new ventures towards sustainable growth.
Company Profile and Achievements
3STATE Ventures operates with a unique focus on technology-driven startups that have the potential to transform industries through innovation. The firm has achieved several milestones, including:
- Investment in Scapia: A key player in India’s travel fintech space, Scapia's co-branded credit cards, in partnership with Federal Bank, allow consumers to enjoy travel-related benefits with no annual fees.
- Backing ShopOS: This emerged as a game-changing AI-driven e-commerce platform, assisting brands in streamlining operations and enhancing customer interactions through AI (ShopOS).
- Supports Cross-Border Commerce Initiatives: Investments such as OppDoor highlight 3STATE Ventures’ strategy to support platforms that facilitate global commerce, particularly those looking to capitalize on Asia's growing consumer markets.
- Focus on Fintech: Continuous investments in fintech indicate a strategic emphasis on this rapidly evolving sector, as showcased by their involvement in funding rounds for companies like Curefoods and Scapia (Entrackr).
Current Operations and Market Position
Currently, 3STATE Ventures is actively investing in startups across a range of sectors, including fintech, e-commerce, and AI. The firm is known for its strategic investments in companies that leverage technology to offer innovative solutions. Despite the firm's relatively low profile regarding public disclosures, its strategic moves in the market have positioned it as a significant influencer, particularly in the Asian startup ecosystem. 3STATE Ventures’ gross capital commitments have enabled its partner companies to scale rapidly and explore new markets.
Conclusion
In conclusion, 3STATE Ventures has firmly established itself as a force within the venture capital landscape, particularly in Asia. Founded by Flipkart's Binny Bansal, the firm has made substantial investments in promising startups, thereby fostering innovation in the fintech and e-commerce sectors. Moving forward, 3STATE Ventures is poised to further integrate strategic technologies and continue backing companies with high growth potential, strengthening its role as a key player in the venture capital industry.