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Deeptech Startup SEDEMAC Bags $100 Mn From Xponentia, A91 In A Mix Of Primary & Secondary Funding

Inc42 · 1y ago

Deeptech Startup SEDEMAC Bags $100 Mn From Xponentia, A91 In A Mix Of Primary & Secondary Funding

SEDEMAC, a deeptech startup, has raised a total of $100 million in funding. The funding round included a primary transaction of $9 million and a secondary portion of $91 million. SEDEMAC plans to use the capital to construct a new manufacturing plant and expand its operations in India, the United States, and the European Union. Established in 2007, the company specializes in producing motor controllers and battery management systems for various markets, including two- and three-wheeler ICE and EV, generators, and e-bikes.

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This Deeptech Start-Up Founded by IIT Bombay Professor Is Planning a Rs 800 Cr IPO

OutlookIndia

OutlookIndia · 5m ago

This Deeptech Start-Up Founded by IIT Bombay Professor Is Planning a Rs 800 Cr IPO

Sedemac Mechatronics, a deeptech startup incubated at IIT Bombay, is planning a Rs 800 crore IPO as it prepares to go public in 2025. Founded by Professor Shashikanth Suryanarayanan and his students, the company integrates mechatronics technology in auto parts manufacturing. Prior to the IPO, the Pune-based company raised approximately $100 million from investors like Xponentia Capital Partners, A91 Partners, and 360 ONE Asset, with revenues of Rs 650 crore in FY25.

Exclusive: Whatfix bags $100 Mn in primary and secondary capital

Entrackr

Entrackr · 10m ago

Exclusive: Whatfix bags $100 Mn in primary and secondary capital

SaaS-based digital adoption solution provider Whatfix has scooped nearly $100 million in primary and secondary funding led by Sweet Nectar Investments (Warburg Pincus) and SoftBank. With this, the Bengaluru-based company has marked its first funding round in the last three years. The board at Whatfix has passed a special resolution to issue 13,201 Series E compulsory convertible preference shares (CCPS) at an issue price of Rs 2,24,788.44 per share to raise Rs 296.74 crore in primary capital, the company’s regulatory filings with the Registrar of Companies show. Additionally, the transaction also includes secondary funding worth nearly Rs 530 crore, the filings reveal. Whatfix aims to use the primary proceeds to expand and grow the business. Sweet Nectar Investments (Warburg Pincus) led the round with Rs 615 crore (Rs 271.7 crore primary and Rs 343.2 crore secondary) while the company’s existing backer SoftBank poured in Rs 210.5 crore (Rs 25 crore primary and Rs 185.5 crore secondary) funding. The secondary funding has been extracted from taking the same issue price under consideration. However, the transaction could also have taken place at a discount rate which reduces the overall amount raised. As per the startup intelligence platform TheKredible, Whatfix has been valued at around Rs 6,871 crore or $820-830 million (post-money). It has raised over $140 million before the fresh funding round. In June, the Economic Times reported that Whatfix is in talks to raise a new round which will see partial exits of early investors Helion Venture Partners and Eight Roads Ventures. Post allotment of the round, SoftBank increased its stake to 15.51% while Warburg Pincus’ Sweet Nectar Investments acquired 8.94% shares in the company (including the secondary transaction). Queries sent to Whatfix did not elicit an immediate response. Founded by Khadim Batti and Vara Kumar, Whatfix provides in-app guidance and performance support for web applications and software products. Its tools can be used by large companies and organizations, and integrated into their own apps to help guide the workforce in using them more efficiently. Whatfix recorded a 65.7% growth in revenue from operations to Rs 285 crore while its losses also went up 31.2% to Rs 328 crore in FY23. Importantly, Whatfix generated the entire revenue from global markets: America, Europe, Asia Pacific, and the Middle East region. About 61% of the revenue emerged from the US followed by Europe. The company is yet to reveal its FY24 numbers.

TPG NewQuest leads $100 mn Series E funding in Shadowfax

VCCircle

VCCircle · 1y ago

TPG NewQuest leads $100 mn Series E funding in Shadowfax

Private equity firm TPG's secondaries-focused arm, TPG NewQuest, has led a $100 million round of investment in logistics and delivery startup Shadowfax. The funding round comprised a mix of primary, secondary and venture debt financing. Shadowfax plans to use the capital to strengthen its middle-mile network, expand its last-mile delivery services to cover all 20,000 pin codes in India, and develop services for direct-to-consumer brands. The company's revenue for the fiscal year ending in March 2023 grew 42.8% to INR 1,415 crore ($193 million), while its loss at the EBITDA level narrowed to INR 85 crore from INR 127 crore in the previous year.

Darwinbox seeks fresh funding upto $150 mn

Inshorts · 5m ago

Darwinbox seeks fresh funding upto $150 mn

HR tech platform DarwinBox is reportedly in talks to raise $120-150 million in a fresh funding round to be led by global private equity firms KKR and Partners Group. As per a Mint report, the round, which will be a mix of primary and secondary infusion, is expected to value the company at around $950 million.

A91, MO Alts join race for stake in HealthKart; Dashtoon eyes fresh funds

VCCircle

VCCircle · 1y ago

A91, MO Alts join race for stake in HealthKart; Dashtoon eyes fresh funds

A91 Partners and Motilal Oswal Alternates have joined ChrysCapital in the race to acquire a stake in HealthKart as Peak XV Partners plans to exit the Temasek-backed startup. The investment round will mainly consist of secondary components, but may also include some primary components. Talks are ongoing, with A91 Partners seeking to increase its existing stake.

GIVA raises ₹270 cr led by Wipro Founder Chairman's Premji Invest

Inshorts · 2y ago

GIVA raises ₹270 cr led by Wipro Founder Chairman's Premji Invest

Jewellery brand GIVA has raised ₹270 crore in a funding round led by Wipro Founder Chairman Azim Premji's Premji Invest. The startup raised ₹200 crore in primary capital in the Series B funding round, which saw participation from existing investors Aditya Birla Ventures, Alteria Capital and A91 Partners. GIVA raised another ₹70 crore through a secondary sales transaction and gave partial exit to Kunal Shah and FirstCheque.

Geniemode eyes ₹500 cr fundraise from new and existing investors

Livemint

Livemint · 8m ago

Geniemode eyes ₹500 cr fundraise from new and existing investors

Bengaluru-based startup Geniemode is reportedly seeking to raise around ₹500 crore ($67 million) from a mix of primary and secondary transactions. The funding round is expected to value the company at $350 million. Private equity firm Multiples and Nandan Nilekani's Fundamentum are said to be evaluating the investment opportunity. Geniemode, which operates as a sourcing platform for B2B buyers in the furniture, home textile, apparel, and accessories sectors, previously raised $28 million in a series B funding round in 2022. The company claims to have over 100 buyers and 250 suppliers across 16 countries, and its revenues in FY23 reached ₹220.4 crore.

Qure.ai Eyes Up To $60 Mn Funding To Push Its Radiology Diagnosis Play

Inc42 · 10m ago

Qure.ai Eyes Up To $60 Mn Funding To Push Its Radiology Diagnosis Play

Mumbai-based medtech startup Qure.ai is planning to raise $50-60 million in a funding round led by Lightspeed. The round is expected to include a secondary deal along with primary capital from existing investors. Lightspeed is looking to invest $20-25 million and may also purchase some secondary shares.

Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente

Inc42 · 1y ago

Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente

Healthtech unicorn Innovaccer is reportedly in talks with US-based health and insurance major Kaiser Permanente to raise a funding round of $200 million to $250 million. Innovaccer last raised $150 million in December 2021 at a valuation of $3.2 billion. If the latest funding talks materialize, the valuation could be lower, ranging between $2.5 billion and $3 billion. The fresh capital will be raised through a mix of primary and secondary funding. Innovaccer, founded in 2014, provides healthcare data analysis to healthcare providers, hospitals, insurance companies, and other organizations.

Prosus close to leading BlueStone’s $100-mn round

The Arc Web

The Arc Web · 1y ago

Prosus close to leading BlueStone’s $100-mn round

Dutch investment group Prosus is considering leading a $100 million round for BlueStone, an omnichannel jewelry company, with participation from Peak XV Partners, Steadview Capital, and Think Investments. The funding includes $60 million as primary capital for BlueStone's business expansion and the rest for secondary share sales by early backers. BlueStone, valued at $440 million in September 2023, expects to double its valuation to nearly $960 million. This marks Prosus' first late-stage investment since mid-2022, highlighting its significant return to the Indian startup ecosystem.

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