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Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees

EntrackrEntrackr · 4m ago
Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees
Medial

Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 186.6 crore (around $21 million), taking the total ESOP pool to Rs 426 crore ($48.4 million). HR tech platform Darwinbox has expanded its existing ESOP plan by adding additional employee stock options worth over $20 million. The board at Darwinbox has passed a resolution for approval to add 64,377 options to its existing plan, bringing the total ESOP pool to 1,46,908 options, its regulatory filing with the Registrar of Companies (RoC) shows. According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 186.6 crore (around $21 million), taking the total ESOP pool to Rs 426 crore ($48.4 million). In addition, the company holds 1,13,903 equity shares in its ESOP trust worth about Rs 330 crore ($37.5 million). In total, Darwinbox’s ESOP pool is valued at around Rs 756 crore ($86 million). This ESOP expansion comes on the heels of its Rs 86 crore ($10 million) ESOP buyback in June this year. Hyderabad-based Darwinbox offers a cloud-based HR management platform that covers recruitment, payroll, engagement, talent, and analytics. The company serves more than 1,000 clients, managing 4 million employees across 130 countries. According to the firm, the majority of its revenue comes from Southeast Asia and India. According to startup data intelligence platform TheKredible, Darwinbox has so far raised over $290 million across multiple funding rounds, including its $140 million in March co-led by Partners Group and KKR. The Peak XV-backed Darwinbox reported a 48% increase in operating revenue to Rs 333 crore in FY24, while its net losses widened to Rs 191.8 crore. The company is yet to disclose its FY25 financials.

Agritech startup DeHaat completes its first ESOP buyback

EntrackrEntrackr · 1y ago
Agritech startup DeHaat completes its first ESOP buyback
Medial

Full stack agritech platform DeHaat has completed an employee stock ownership plan (ESOP) buyback program worth Rs 10 crore ($1.2 million). This is the first ever ESOP buyback for the Patna and Gurugram-based company. “The buyback saw 153 team members spread across senior vice president rank to field teams got the opportunity of wealth creation,” said Rishu Garg, who heads the people function at DeHaat. To date, DeHaat has issued ESOPs worth over Rs 100 crore ($12 million) to more than 200 individuals. DeHaat is a marketplace for the agricultural sector which offers distribution of high-quality agrarian inputs, advisory, lending, and market linkages for selling their produce. The company recently roped in Bollywood actor Pankaj Tripathi as its brand endorser and onboarded agri industry veteran Dr. K V Subbarao as its first Independent Advisor. DeHaat’s gross revenue grew 54.2% to Rs 1,965 crore in FY23 from Rs 1,274 crore in FY22. The company said that its revenue from operations increased 40% to Rs 2,700 crore while losses was reduced by 50% in FY24. The firm aims to achieve full year profitability during FY25. Dehaat has raised around $230 million to date and was valued at over $705 million according to startup data intelligence platform TheKredible. Last week, study abroad platform Leverage Edu announced its second ESOP buyback program. In the ongoing calendar year, Urban Company, MyGate, Classplus, Meesho, The Sleep Company, XYXX, and Pocket FM also completed their ESOP buyback scheme.

HealthKart raises $153 Mn, completes first ever ESOP buyback

EntrackrEntrackr · 1y ago
HealthKart raises $153 Mn, completes first ever ESOP buyback
Medial

Omnichannel nutrition platform HealthKart has raised $153 million led by ChrysCapital and Motilal Oswal Alternates. Existing investor A91 Partners along with Neo Group also participated in the new round. HealthKart owns and operates several nutrition brands including MuscleBlaze, HKVitals and Gritzo. Apart from online presence, the firm has over 200 retail stores across 90 cities. In December 2022, HealthKart raised $135 million led by Temasek with participation from A91 Partners and Kae Capital. According to the startup data intelligence platform TheKredible, the Gurugram-based firm has raised around $360 million to date. As per the company’s press release, it crossed 1,000 crore in revenue threshold in FY24, and also achieved full year EBITDA profitability during the said fiscal year. While the firm has yet to file the audited numbers officially, it recorded Rs 832 crore revenue in FY23 with a loss of Rs 76 crore. HealthKart spun off its generic drug search business, HealthKartPlus, in 2015 and rebranded it as 1mg, which now operates under Tata 1mg Technologies Private Limited. Along with the funding, HealthKart has also announced its first ever employee ESOP buyback plan worth Rs 55 crore ($6.5 million). The buyback will benefit both current as well as former employees. According to TheKredible’s data, more than 20 startups have implemented ESOP buyback, liquidity, and payout programs worth around $200 million in the ongoing calendar year (2024).

Darwinbox’s revenue rises to Rs 534 Cr in FY25; narrows adjusted losses

EntrackrEntrackr · 3m ago
Darwinbox’s revenue rises to Rs 534 Cr in FY25; narrows adjusted losses
Medial

Darwinbox’s revenue rises to Rs 534 Cr in FY25; narrows adjusted losses International markets contributed 63% of new sales, as overseas revenue soared 83% YoY, representing the second consecutive year of over 80% growth. Kunal Manchanada 17 Oct 2025 18:29 IST HR tech unicorn Darwinbox sustained its growth in FY25, with operating revenue rising 50% year-on-year, aided by international expansion and deeper penetration in existing markets, the firm said in a press release. According to the company, Darwinbox’s revenue from operations grew to Rs 533.9 crore in FY25 from Rs 334 crore in FY24. International markets contributed 63% of new sales, as overseas revenue soared 83% YoY, representing the second consecutive year of over 80% growth. Darwinbox added that its U.S. operations launched two years ago and are beginning to gain meaningful traction, alongside strong adoption in SEA and MENA regions, according to the release. When it comes to the bottom line, the company’s adjusted net loss improved by 12% over FY24, excluding non-cash ESOP expenses. Excluding investments in the U.S. business, the adjusted net loss narrowed 42% year-on-year, as per the press release. Hyderabad-based Darwinbox offers a cloud-based HR management platform covering recruitment, payroll, engagement, talent, and analytics. The firm said most of its revenue comes from Southeast Asia and India. It has over 1,016 enterprise customers globally. According to startup data intelligence platform TheKredible, Darwinbox has so far raised over $290 million across multiple funding rounds, including its $140 million in March co-led by Partners Group and KKR. The company also recently granted $21 million in ESOPs to its employees, a development exclusively reported by Entrackr. This follows its Rs 86 crore ($10 million) ESOP buyback in June this year.

Cashfree Payments announces ESOP buyback for over 400 employees

EntrackrEntrackr · 17d ago
Cashfree Payments announces ESOP buyback for over 400 employees
Medial

Cashfree Payments announces ESOP buyback for over 400 employees Bengaluru-based fintech firm Cashfree Payments has announced an ESOP buyback programme covering over 400 employees, including 175 former employees. The buyback provides liquidity to current and former team members holding vested stock options. Cashfree did not disclose the size of the buyback or the valuation at which the shares were repurchased. The move comes a year after Cashfree’s $53 million funding round led by Krafton. Overall, the company has raised $95 million from investors, including Y Combinator, Smilegate Investments, and State Bank of India. Founded in 2015, Cashfree Payments operates a payments and payouts infrastructure platform for businesses. The company processes more than $80 billion in annual payment volumes and serves over one million merchants, including startups and large internet companies. Cashfree has also been expanding its cross-border payments business, which currently contributes around 10% of the company’s revenue, following strong growth in transaction volumes over the past year. According to TheKredible, Cashfree reported operating revenue of Rs 640 crore in FY25, compared with Rs 643 crore in FY24. The company’s net loss widened 14% to Rs 154 crore from Rs 135 crore in the previous fiscal year. This marks the third major ESOP buyback announcement in 2026. Recently, healthtech firm Innovaccer completed an ESOP buyback worth around $75 million, while SaaS unicorn BrowserStack announced a $125 million ESOP liquidity programme. For context, ESOP buyback activity in 2025 remained muted at just over $75 million. In comparison, total ESOP buybacks, payouts, and liquidity stood at about $190 million in 2024, significantly lower than $802 million in 2023, $440 million in 2021, and $200 million in 2022.

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