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Bessemer, Jhunjhunwala-backed Hungama raising fresh funding

VCCircle

VCCircle · 1y ago

Bessemer, Jhunjhunwala-backed Hungama raising fresh funding

Bessemer Venture Partners and Rakesh Jhunjhunwala's investment firm-backed Hungama Digital Media Entertainment is in the process of raising new funding. The Mumbai-based company, founded in 1999, is a publisher and distributor of music and video titles.

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Bessemer-backed digital media firm Hungama's business just fell off a cliff

VCCircle

VCCircle · 1y ago

Bessemer-backed digital media firm Hungama's business just fell off a cliff

Hungama Digital, a digital media and entertainment venture backed by Bessemer Venture Partners and public investors Ashish Kacholia and Rakesh Jhunjhunwala, has experienced significant losses in the last six months. The platform, which publishes and distributes audio and visual content, is currently facing challenges in its business operations.

Zepto set to raise fresh funds; Flipkart-backed Shadowfax mulls IPO

VCCircle

VCCircle · 12m ago

Zepto set to raise fresh funds; Flipkart-backed Shadowfax mulls IPO

Zepto, a Mumbai-based quick-commerce firm, is reportedly raising $310 million in fresh funding, which will increase its valuation to $5 billion. This comes on the heels of a previous funding round just over a month ago where the company raised $665 million. Zepto's total funding is nearing $1 billion. In related news, Flipkart-backed logistics startup Shadowfax is exploring the possibility of an IPO.

Luxury Presence, which builds marketing tools for realtors, raises $19.2M

TechCrunch · 1y ago

Luxury Presence, which builds marketing tools for realtors, raises $19.2M

Luxury Presence, a startup providing marketing solutions for real estate professionals, has raised $19.2 million in a Series B1 round led by Bessemer Venture Partners. The platform offers tools and services for creating real estate websites, ads, content marketing strategies, and social media engagement. It recently launched an AI-powered mobile app called Presence Copilot for realtors. The company aims to support high-performing real estate professionals with technology and plans to use the funding to further develop its products. The proptech sector saw a decline in funding in 2022, with VC-backed proptech companies raising 38% less than in 2021.

Advent, Jhunjhunwala family-backed companies get SEBI nod for IPO

VCCircle

VCCircle · 8m ago

Advent, Jhunjhunwala family-backed companies get SEBI nod for IPO

Two companies backed by Advent International and the Jhunjhunwala family have received approval from the Securities and Exchange Board of India (SEBI) for their initial public offerings (IPOs). Packaging products maker Manjushree Technopack, backed by Advent, plans to raise INR 3,000 crore, using INR 500 crore to pay off debt. Healthcare technology company Inventurus Knowledge Solutions, backed by the Jhunjhunwala family, has submitted IPO documents for the offer for sale of shares held by existing shareholders. As of March 2021, Inventurus had 800 healthcare organizations as clients.

Piramal Alternatives-backed Harmony Organics weighs pre-IPO funding

VCCircle

VCCircle · 6m ago

Piramal Alternatives-backed Harmony Organics weighs pre-IPO funding

Harmony Organics Pvt Ltd, a specialty chemicals manufacturer backed by Piramal Alternatives, is considering raising pre-IPO funding as it prepares for an upcoming public listing. The Pune-based company, which produces aroma chemicals for the fragrance and flavor industries, aims to secure fresh investments to bolster its market position ahead of its initial public offering.

Innoviti raises ₹35 crore from existing shareholders in new round

Inshorts · 5m ago

Innoviti raises ₹35 crore from existing shareholders in new round

IPO-bound fintech Innoviti Technologies has raised ₹35 crore in a fresh funding round from existing shareholders, including angel investor and Ola Electric backer Ashutosh Joshi and VC firm Bessemer Venture Partners. The company board passed a special resolution to allot 6,95,871 Series M compulsorily convertible preference shares at a face value of ₹11 each.

Startup funding jumps 77% to $144 million this week

Economic Times

Economic Times · 1y ago

Startup funding jumps 77% to $144 million this week

In the third week of February 2024, startup funding surged by 77% compared to the same week the previous year, reaching a total of $143.6 million across 21 deals. The majority of the funding was in the early-stage category, accounting for approximately 76% of the total. Some notable funding rounds included Captain Fresh securing $25 million, Astrotalk raising $20 million, Amber receiving $21 million, Supertails raising $15 million, and MetalBook securing $15 million.

Jhunjhunwala-backed IKS Health faces oppression claims: Report

Inshorts · 8m ago

Jhunjhunwala-backed IKS Health faces oppression claims: Report

Rekha Jhunjhunwala-backed healthcare solutions provider IKS Health is facing allegations of oppression and mismanagement, NDTV Profit reported. Two minority shareholders have filed a petition at NCLT, Mumbai. They have alleged that the company indulged in oppressive practices of excluding minority shareholders from decision-making processes, passed 'illegal' resolutions and more.

Flipkart-backed logistics startup BlackBuck plans IPO; to raise up to $300 million

Money Control

Money Control · 1y ago

Flipkart-backed logistics startup BlackBuck plans IPO; to raise up to $300 million

Logistics startup BlackBuck, backed by Flipkart, is planning to launch an initial public offering (IPO) in the next fiscal year, aiming to raise up to $300 million. The IPO will consist of a mix of fresh issue and secondary share sales by existing investors. BlackBuck will use the proceeds to expand its services business and grow its core freight business. The company became a unicorn in 2021 after raising $67 million in a Series E funding round. Tech IPO activity in India is expected to rebound this year after a two-year slowdown.

Innoviti pockets another cheque from existing backer Alumni Ventures

VCCircle

VCCircle · 1y ago

Innoviti pockets another cheque from existing backer Alumni Ventures

Indian payment-focused retail software company, Innoviti, has raised funding from US-based Alumni Ventures as part of its ongoing Series E round. The company is raising a total of $9 million, with additional investors set to join by the end of June. Innoviti provides point-of-sale terminals, billing, and customer relationship management software to businesses and retailers. This latest funding comes after the company raised $4.8m in April from Bessemer Venture Partners and Patni Family Office, and $45m in 2022 from Panthera Growth Partners and Alumni Ventures.

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