About Lightbox
Lightbox is a venture capital firm founded in 2014. It is primarily based out of Mumbai, India. As of Mar 2026, Lightbox has invested in 32 companies. It primarily invests in Series A round in India based startups. Its investments are spread across a wide range of sectors from Retail to Consumer and Enterprise Applications. Most recently it participated in the $***** Series A round of Amaha Overall, Lightbox portfolio has seen 3 unicorns, 3 IPOs and 3 acquisitions including key companies like Truecaller, Rebel Foods and InMobi. A lot of funds co-invest with Lightbox, with names like Alteria Capital sharing a substantial percentage of its portfolio. Lightbox has team of 13 people including 4 partners.Key Metrics
Team Members
Portfolio Count
Rounds of Entry
Series A, Series B & 4 more
Portfolio IPOs
Portfolio Unicorns
Lightbox's List of Top Investments
Lightbox has a portfolio of 32 companies, including 3 unicorns. Their most notable investments are in Bombay Shirt Company and Flintobox.Their portfolio spans across India, Sweden and United States. They have invested in Retail, Consumer, Enterprise Applications and 18 other sectors, across stages such as Series A, Series B and 4 more. Here is the list of top investments by Lightbox:
1. Truecaller
App-based platform providing caller ID and spam call-blocking services. It helps users to identify, filter, and block unknown numbers, spam callers, and telemarketers. It helps to record calls, backup call history, contacts, and messages to drive, and auto-block SMS from specific countries, or those with similar digit sequences. Users can also track bills and transactional updates. It has community-based spam reporting service. The app is available across the web, Android, and iOS platforms.
Key facts about Truecaller
- Founded Year: 2009
- Location: Stockholm (Sweden)
- Annual Revenue: $100M - $500M as on Dec 31, 2024
- Stage: Public
- Total Funding till date: $96.8M
- Employee Count: 630 as on May 31, 2026
- Investors: Inbox Capital, Backstage and 18 Others
- Latest Funding Round: Series C, Oct 10, 2018, $*****
- Highlight: Public
2. Furlenco
Online platform for renting and buying designer furniture. Offers furniture rental through monthly subscription plans with options to upgrade, swap, or buy back items. Provides complete home furnishing packages including living rooms, bedrooms, dining rooms, and appliances. Delivers, installs, and maintains furniture with flexibility for short-term or long-term use.
Key facts about Furlenco
- Founded Year: 2012
- Location: Bengaluru (India)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $146M
- Employee Count: 290 as on Aug 31, 2025
- Investors: Kotak Mahindra Bank, White Oak and 118 Others
- Latest Funding Round: Series D, Nov 17, 2025, $*****
- Highlight: Editors' Pick
3. Rebel Foods
Operator of internet restaurants offering various cuisines through multiple brands. The business uses an operating system to build and scale brands. It identifies consumer food patterns to create brands that answer specific food missions. The company offers various options, including biryani, desserts, wraps, and bowls.
Key facts about Rebel Foods
- Founded Year: 2010
- Location: Mumbai (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $587M
- Employee Count: 6,040 as on Aug 31, 2025
- Investors: Goldman Sachs, Goldman Sachs Investment Partners and 54 Others
- Latest Funding Round: Venture Debt, Sep 17, 2025, $*****
- Highlight: Editors' Pick
4. Cityflo
Online platform offering premium office commute services via app-operated buses. It provides air-conditioned, scheduled rides between residential hubs and corporate destinations in urban areas. The system includes features such as live tracking, flexible booking, seat reservation, and rescheduling. It serves professionals across cities such as Mumbai, Hyderabad, and Delhi, and is expanding into state-run transit ecosystems through strategic partnerships.
Key facts about Cityflo
- Founded Year: 2015
- Location: Thane (India)
- Annual Revenue: ₹50 - ₹100 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $14.7M
- Employee Count: 177 as on Jul 31, 2025
- Investors: Chiratae Ventures, Pravega Ventures and 51 Others
- Latest Funding Round: Series B, Oct 18, 2023, $*****
- Highlight: Editors' Pick
5. InMobi
Provider of advertising solutions and platforms for brand building and growth. The company offers tools and expertise to inspire connections that grow brands on mobile. It provides solutions for media buyers and owners. The company also focuses on acquiring and growing high-value users for mobile applications. It helps to unlock more value from advertising inventory.
Key facts about InMobi
- Founded Year: 2007
- Location: Bengaluru (India)
- Annual Revenue: $100M - $500M as on Mar 31, 2024
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $266M
- Employee Count: 733 as on Jun 30, 2025
- Investors: Hercules Capital, SoftBank Group and 44 Others
- Latest Funding Round: Conventional Debt, Dec 04, 2025, $*****
- Highlight: Editors' Pick
Lightbox's Year-on-Year Investment Trends
Lightbox has invested in 32 companies over the last 12 years, with an average of 2 new investments annually in the last 10 years. As of Mar 2026, it has made 1 investment in this year. Its most recent first time investment was in Rooter and most recent follow-on round was in Amaha.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 1 | 1 |
2025 | 0 | 0 | 0 |
2024 | 0 | 3 | 3 |
2023 | 0 | 8 | 8 |
2022 | 2 | 7 | 9 |
2021 | 1 | 8 | 9 |
2020 | 3 | 4 | 7 |
2019 | 8 | 7 | 15 |
2018 | 1 | 5 | 6 |
2017 | 1 | 4 | 5 |
Lightbox's Investments by Stage
Lightbox has made 13 investments in Series A stage with an average round size of $10.2M, 6 investments in Series B stage with an average round size of $10.2M and 3 investments in Series C stage with an average round size of $25.6M.Stage of entry | No. of Investments |
|---|---|
Series A | 13 |
Series B | 6 |
Series C | 3 |
Seed | 2 |
Series D | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Lightbox's Investments by Sector
Lightbox has a diverse portfolio, with companies operating in the Consumer, Retail, Enterprise Applications, Food and Agriculture Tech and EdTech. Notably, it has invested in 29 Tech companies, 22 Consumer (B2C) companies, 11 Enterprise (B2B) companies and at least 10 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 16 |
Retail | 11 |
Enterprise Applications | 6 |
Food and Agriculture Tech | 4 |
EdTech | 3 |
Others | 24 |
Note: We have considered here, only first round of investments
Lightbox's Investments by Geography
Lightbox has made most investments in India (26).Lightbox's recent investments
Lightbox has made 1 investments in 2026 so far - Amaha.Here are the most recent investments by Lightbox:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 30, 2026 | India | Series A | 6867 | [+1] | |
Jun 20, 2024 | India | Series E | 6677 | ||
Feb 27, 2024 | India | Series C | 7039 | ||
Jan 09, 2024 | India | Series A | 4648 | [+5] | |
Nov 24, 2023 | India | Series B | 7306 | [+2] |
Unicorns in Lightbox's Portfolio
Lightbox has 3 unicorns in its portfolio - Rebel Foods, Droom and InMobi. The most recent unicorn in their portfolio is Rebel Foods. It became a unicorn in 2021, 6 years after Lightbox first invested in it.Here is a list of unicorns in Lightbox's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
79 | Operator of internet restaurants offering various cuisines through multiple brands | 2010 | Mumbai | Series G | i{fagor | ||
75 | Online retailer of used and new automobiles, plus related services | 2014 | Gurugram | Series G | lbaksfc | ||
76 | Provider of advertising solutions and platforms for brand building and growth | 2007 | Bengaluru | Series D | bdpqvsa |
IPOs and Publicly Listed companies in Lightbox's Portfolio
3 of Lightbox's portfolio companies have become public. MapmyIndia got listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), in Dec 2021 at marketcap of $503M and Truecaller got listed on the Nordic and Baltic regions (NASDAQ OMX) at marketcap of $2.22B.Here are Lightbox's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 21, 2021 | - | - | 2419 | |
Oct 08, 2021 | - | - | 5704 | |
Nov 21, 2006 | - | - | 7594 |
Acquired companies in Lightbox's Portfolio
3 companies from Lightbox's portfolio have been acquired. The most recent acquisition was Cleartrip in Apr 2021 by Flipkart for $*****.Here are Lightbox's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 14, 2021 | - | - | 8171 | |
Jun 01, 2018 | Aug 29, 2014 | Series B | 9397 | |
Apr 09, 2018 | Feb 13, 2014 | Series A | 6123 |
Team profile of Lightbox
Lightbox has a team of 13 members including 4 Partners and 2 Principals located in India. Lightbox's team sits on the board of 1 company.Here is a list of top team members in Lightbox:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Mumbai | |||
Partner | India | - | ||
Partner | Thane | - | ||
Partner | - | - | ||
Principal | Mumbai | - | ||
Principal | Mumbai | - |
Co-investors of Lightbox
Over the past 12 years, 849 investors have co-invested in Lightbox's portfolio companies. This includes funds and angels.
- Invested before Lightbox: Sherpalo Ventures, Kunal Naresh Shah and 327 others have invested in rounds before Lightbox. There are 5 companies where Sherpalo Ventures has invested before Lightbox and 4 companies where Kunal Naresh Shah has invested before Lightbox.
- Top Co-investors of Lightbox: 36 investors entered a company along with Lightbox. These include investors like Alteria Capital (5 companies).
- Invested after Lightbox: A total of 484 investors have invested in Lightbox's portfolio after their investments. Top Investors include Alteria Capital (7 companies), Trifecta Capital (5 companies) and Innoven Capital (5 companies).
Recent News related to Lightbox
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Amaha Secures INR 50 Cr in Series A Funding RoundEnablers•Mar 31, 2026•Amaha, Fireside Ventures, Lightbox
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Senco Gold to Acquire 68% Stake in Melorra Parent for Rs 68 CroreNewsDrum•Jan 21, 2026•August, Senco Gold And Diamonds, Melorra, Axis AMC and 1 other
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LightBox Enhances Appraisal Intelligence for Lenders with Financial VisibilityPR Newswire•Dec 10, 2025•Lightbox
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Lightbox report says India’s non-RMG gaming sector set to expand following RMG banBestMediaInfo•Sep 25, 2025•Lightbox
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Furlenco Raises $7 Mn Debt From Northern Arc, CredAvenueInc42•Mar 07, 2025•Furlenco, Northern Arc Capital, Zinnia Global, CE Ventures and 5 others
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Women's Wellness brand Nua raises Rs 35 Cr in pre-Series C round led by Mirabilis Investment TrustYourStory•Feb 06, 2025•Nua, Colgate Palmolive, SRF, LightBox and 6 others
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Cloud kitchen operator Rebel Foods raises $210 million round led by TemasekFinancial Express•Dec 12, 2024•Rebel Foods, Temasek, Drugs.com, Trendyol and 16 others
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VC firm Lightbox considers $100-mn continuation fund to back mature startupsLivemint•Jul 22, 2024•Lightbox
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Rupeek Secures $15 Mn Funding from Elevation CapitalViestories•Jun 26, 2024•Rupeek, Elevation Capital, 360 One, Sequoia Capital and 4 others
