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Cornerstone Ventures leads Rs 15 Cr round in Nitro Commerce

EntrackrEntrackr · 1y ago
Cornerstone Ventures leads Rs 15 Cr round in Nitro Commerce
Medial

Nitro Commerce, a revenue-as-a-service platform for ecommerce and D2C brands, has secured Rs 15 crore ($1.8 million) in a seed funding round led by Cornerstone Ventures. The round also saw participation from Warmup Ventures, Lead Angels, Dholakia Ventures, India Accelerator as well as individual investors Arjun Vaidya , Kunal Khattar, Nikunj Jain and Piyush Jain. The proceeds will be deployed towards developing core technologies that support the sourcing and enrichment for ecommerce and D2C brands, Nitro Commerce said in a statement. Co-founded in 2023 by Umair Mohammed, Atyab Mohammed, Shamail Tayyab, and Pratik Anand, Nitro Commerce is a full-stack revenue-as-a-service platform for the ecommerce and D2C markets. The platform aims to provide technologies to the industry that aid the top and middle of the funnel in order to help customers seamlessly increase revenue and super-charge their growth. The co-founders had previously launched Wigzo which was acquired by Shiprocket back in 2021. Nitro also aims to reach profitability by 2025 by democratising its technology, making it easy for merchants to access and deploy, and offering it as an outcome-as-a-service. The startup claims that it has on boarded more than 100 D2C brands in the past six months and aims to grow this number to over 1,000 brands by the end of the year. According to the Gurugram-based company, it will introduce an innovative approach to integrate e-commerce and digital advertising with bespoke and intelligent data-driven offerings. It competes with the other players in this space such as Klaviyo, Elastic Path Software, Bango, Yotpo, Rokt and others.

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Warmup Ventures launches Rs 300 Cr founders-backed Fund II

EntrackrEntrackr · 7m ago
Warmup Ventures launches Rs 300 Cr founders-backed Fund II
Medial

Warmup Ventures has launched its second fund, Warmup Fund II, a SEBI-registered Category 2 AIF, with a corpus of Rs 300 crore. The fund will focus on transformative areas such as deep-tech, climate, and sustainability and plans to invest Rs 5–7 crore each in 25-30 early-stage startups across sectors, with a significant provision for follow-on rounds, Warmup Ventures said in a press release. Co-founded by Sharad Bansal, Rajendra Lora, and Yogesh Chaudhary, Warmup Ventures aims to bridge the gap between India's rich business heritage and its burgeoning innovation economy. By engaging family offices and second-generation entrepreneurs, the fund creates a unique platform that connects legacy businesses with future-forward startups. Warmup Ventures has backed over 15 startups. These include Bobabhai, scaling to more than 45 stores nationwide; Nitro Commerce, now hosting over 200 brands; Minimizes, a Li-ion battery recycling startup; RocketPay, a simplified payment collection app with over 5,000 merchants onboard; and Balwaan Krishi, which secured Rs 40 crore from JM Financial to advance agritech solutions for small and mid-size farmers. Warmup Ventures looks to go beyond funding by equipping early-stage founders with the knowledge and networks to make informed decisions and scale faster. The VC firm says that it harnesses the collaborative power of its network to create value for both portfolio startups and investors.

GVFL leads Rs 15 Cr round in B2B packaging platform DCG Tech

EntrackrEntrackr · 22d ago
GVFL leads Rs 15 Cr round in B2B packaging platform DCG Tech
Medial

GVFL leads Rs 15 Cr round in B2B packaging platform DCG Tech DCG Tech, a B2B platform for packaging, warehouse solutions, and procurement, has raised Rs 15 crore in a pre-Series A funding round led by GVFL. GVFL has invested Rs 10 crore in the round, while Auxano Capital and the promoters have participated in the investment round. Prior to this, the Gurugram-based company had raised $3.31 million in a seed funding round from Venture Catalysts. The proceeds will be utilised to accelerate growth, enhance platform technology, and expand international operations, DCG said in a press release. Co-founded in 2005 by Suresh Bansal and Subhasish Chakraborty, DCG Tech addresses the packaging needs of MSMEs, e-commerce and quick-commerce brands by offering them a one-stop, cost-effective solution. The firm’s solutions, such as Design to Distribution, Packaging as a Service, EcoPac for Sustainable Packaging, and the ProPac Platform, aim to bring efficiency and cost-effectiveness to businesses of all sizes. With over 60,000 customers and 750 million packaging products delivered, DCG claims to have presence through eight fulfilment centres, six sales offices, and a Design and Innovation Centre. It also has a subsidiary in Dubai. “With the backing of GVFL and other investors, and our roadmap of smart manufacturing, AI-based technology, and sustainable packaging solutions, we are poised to lead the next phase of growth in the B2B commerce space. Our goal is to become India’s most preferred packaging and commerce platform for businesses,” said Suresh Bansal, founder & CEO of DCG. DCG states that it offers a tech-enabled, end-to-end procurement and distribution platform that provides over 10,000 SKUs across 78 categories.

IPO-bound OfBusiness raises Rs 100 Cr led by Cornerstone Ventures

EntrackrEntrackr · 3m ago
IPO-bound OfBusiness raises Rs 100 Cr led by Cornerstone Ventures
Medial

OfBusiness, an industrial goods and services procurement platform set to launch its IPO in the second half of 2025, has raised Rs 100 crore (about $11.7 million) led by Cornerstone Ventures. Previously, OfBusiness raised over $650 million across various rounds, including a $325 million round led by Alpha Wave, Tiger Global, and SoftBank, at a valuation of $5 billion. The proceeds from the new investment will be used to drive digital adoption and financing access for SMEs. Co-founded in 2016, OfBusiness provides raw material procurement and financing solutions to SMEs in the manufacturing and infrastructure sectors. The company reported a 25.8% year-on-year increase in revenue to Rs 19,296 crore for FY24, with a 30.2% profit growth to Rs 603 crore. OfBusiness competes with firms like Zetwerk, Infra.Market, and Moglix.

Mumbai-based Cornerstone Ventures launches second fund worth $200M for B2B tech startups

IndianStartupNewsIndianStartupNews · 1y ago
Mumbai-based Cornerstone Ventures launches second fund worth $200M for B2B tech startups
Medial

Mumbai-based venture capital firm, Cornerstone Ventures, has launched its second investment fund with a target size of $200 million. The fund aims to support emerging B2B tech startups in various sectors, including financial services, retail, healthcare, and core technology innovations. The ticket size for investments will range from $5 million to $15 million. Cornerstone Ventures' previous fund has already invested in 21 portfolio companies focused on B2B enterprise software-as-a-service models, which have experienced significant growth. The new fund will prioritize investments in startups that enhance core business processes and have the potential for multiple revenue streams.

Cornerstone Ventures launches Fund II at $200 Mn

EntrackrEntrackr · 1y ago
Cornerstone Ventures launches Fund II at $200 Mn
Medial

Venture capital firm Cornerstone Ventures has announced the launch of its second fund with a target size of $200 million including a green-shoe option of $50 million. The fund ticket sizes range from $5 million to $15 million in a mix of early- to growth-stage startups. As per Cornerstone, it plans to invest in 15-20 startups with the latest fund. The Mumbai-based firm plans to invest across software platforms and marketplaces operating in sectors such as financial services and insurance, retail, consumer goods and ecommerce, distribution and supply chain, and healthcare products and services. Its portfolio companies of the first fund includes Credilo, THB, Blubirch, and Dhiway. The fund claims to have facilitated $1-2 million additional annual recurring revenue for each of its portfolio companies and been an active participant in their respective growth journeys. The firm first launched Cornerstone Ventures Fund-I in 2019 with a size of about $50 million. The fund was deployed across 21 portfolio companies, primarily focused on B2B enterprise software-as-a-service business models.

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