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Divya Dhulipala
Senior Associate at Haystack
Divya Dhulipala is currently a Principal at Haystack, a venture capital firm that focuses on seed and early-stage investments. She was promoted to this position in September 2023 after serving as a Senior Associate at the same firm from October 2021 to September 2023. Prior to her time at Haystack, she worked as an Associate at March Capital and as an Analyst at TrueBridge Capital Partners.12
Dhulipala holds a degree from Duke University, where she studied from 2014 to 2018. She is proficient in Spanish and Telugu, in addition to being a native English speaker.1 Her role at Haystack involves supporting the firm's operations and engaging with the startup ecosystem, which has been highlighted as a key strength in her promotion announcement.23
Highlights
Congratulations to Kinetic for raising their $21M Series B, led by Shawn Carolan at Menlo Ventures, with participation from Lux Capital, Construct Capital, and Haystack.
My colleagues, Semil and Aashay, first met Nikhil Naikal in 2021 through a friend of the firm, Jason Costa. When Haystack first funded him, Nikhil was a savvy technologist with a pitch deck, small team, and prototype. He was thinking through the business model, the GTM strategy, and how to navigate all the various currents within the automotive space. Aashay and Semil spent a lot of time brainstorming with him, and he has had our unrelenting support in his decision to aggressively pursue the passenger EV market.
Fast forward to 2024 - Kinetic is fully in motion, operating collision repair centers in Las Vegas, Orange County, San Bernardino, and Lake Elsinore that have conducted hundreds of repairs to date. Nikhil, Sander, and Christopher have built a robust team and are extremely clear in their identity and their operational path ahead. Haystack is particularly proud to have invested in every round since the company’s inception and to have closely witnessed this journey.
Nobody who owns and relies on a car that is software-defined (in other words: every modern car), wants to think about a collision, much less about a car's software repair. But if and when that day comes, we deserve digital repair hubs that match the sophistication and standards of the factories that build these cars. Kinetic has been extremely strategic with partnerships and is fundamentally collaborative. All ecosystem participants are incentivized to work with Kinetic from a cost, quality, and process standpoint - the old-school auto repair shops, the insurance companies, and of course - the vehicle owners at the heart of it all.
Re-investing in our inflecting companies is a highly coordinated team effort, both internally with Semil and Aashay and externally with respected industry friends - in this case, Bilal Zuberi and Rachel Holt. We make these investments from our small companion fund, Needles (Needles in a Haystack) as well as - in rare cases - via SPV.
As an investor, I like businesses that require upfront investment and reward meticulous planning in an effort to build something very tangible. In an era full of online distractions, I have gravitated towards IRL businesses that provide concrete value to end users, that challenge dusty legacy participants, and that play into extremely clear supply and demand dynamics. Luckily, we have plenty of examples in the Haystack portfolio that fit this bill - Hadrian, Astranis Space Technologies, and Layup Parts, to name a few. For companies of this ilk - founders are rolling up their sleeves to build tactile technology and deliver unprecedented services. They are poised to build extremely lucrative, powerful businesses. We are super honored to have earned the right to work with them. Thank you, Nikhil and team, for letting us along for the ride.
Happy to share a good bit of personal news - I am now a Principal at Haystack. Thank you to Semil Shah and Aashay Sanghvi, two of my greatest influences. And thank you to all of the many ecosystem participants who have guided me along my way. As my colleagues would say… onwards!
