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Easebuzz raises $30 Mn, plans IPO in 2-3 years

EntrackrEntrackr · 6m ago
Easebuzz raises $30 Mn, plans IPO in 2-3 years
Medial

Digital payments company Easebuzz has raised Rs 240 crore ($30 million) in a funding round led by Bessemer Venture Partners. The round included Rs 200 crore in primary capital and Rs 40 crore in secondary capital. This is Easebuzz’s first major funding since 2021, when it raised $4 million led by 8i Ventures and Varanium Capital. The proceeds will be used to boost branding, hire senior talent, and expand operations in key sectors—banking, government payments, real estate, and education, the company said in a press release. Easebuzz provides software tools to help onboard clients and currently serves 10,800 educational institutions. The Pune-based company processes $3 billion in monthly transactions and aims to double that by year-end. It also plans to grow offline payments, currently just 10% of revenue, and expand into Southeast Asia and the Middle East. Managing Director Rohit Prasad said the company is planning an IPO within the next 2–3 years. "We’re already profitable, so we didn’t want to dilute much but wanted a global fund on board,” he said. Easebuzz reported a net profit of Rs 22 crore and a gross revenue of Rs 650 crore for FY25. Most of this revenue is used to settle payments with banks. Earlier this year, Easebuzz received final authorization from RBI to operate as an online payment aggregator and is in the process of applying for a cross-border payment aggregator license to serve international markets.

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Kreedo raises $4 Mn in Series A funding

EntrackrEntrackr · 1y ago
Kreedo raises $4 Mn in Series A funding
Medial

Edtech platform Kreedo has raised $4 million in Series A funding round co-led by Singapore-based Heritas Capital and existing investor UBS Optimus Foundation. The round also saw participation from other existing investors such as Gray Matters Capital, 1Crowd, The Chennai Angels, The Joka Angel Network and others. The proceeds will be used to enhance product offerings and expand into new geographies in India, Kreedo said in a press release. Co-founded in 2012 by Mridula Shridhar and VK Manikandan, Kreedo partners with affordable private schools and preschools and aims to transform the way learning is delivered in early years. Its unique 6T learning framework is an innovative model centered on the Kreedo Activity Labs which offers a structured environment for play-based learning. According to Kreedo, it currently caters to children in the age group of 3 to 8 years (Nursery to Grade 2), in line with play-based guidelines prescribed in the NEP 2020 for the foundational stage of learning. The platform offers a comprehensive solution that empowers and supports schools to significantly improve learning outcomes. Kreedo says that it is solving this problem at scale by integrating play as the primary form of learning in its partner schools in the foundation years. Over the last two years, Kreedo also says that it has seen significant growth, doubling its revenue, expanding its reach from 700 to 1,700 schools/ pre-schools and increased the number of children benefiting from its programs from 55,000 to more than 1,40,000 Kreedo intends to extend its product offerings moving upwards to grades 3-5, and enhance Practico, a digital home learning platform. The platform will also be scaling a specialized pre-primary teacher training franchise program that will create a pool of job-ready qualified teachers for its partner schools as well as the early education market in general.

Matel raises $4 Mn in Series A round

EntrackrEntrackr · 1y ago
Matel raises $4 Mn in Series A round
Medial

Mobility and energy solutions startup Matel has raised $4 million in its Series A round, led by Transition VC. The round also saw participation from Gruhas and Haresh Abichandani. Founded in 2017, Matel manufactures synchronous machines and motor controllers for e-mobility, industrial applications, agricultural pumping, and HVAC sector. Specialised in designing and manufacturing high-efficiency electric motors and controllers, it offers a full-stack powertrain solution to OEMs of EVs and the industrial sector. The startup offers application in all kinds of EVs including 2-wheelers, 3-wheelers, 4-Wheelers, buses and off-road vehicles. It started the mass production of powertrains in April 2024 after receiving successful validation and certification by various EV OEMs. Later this year, it will start supplying products for traction and auxiliary application in the CV segment, which is in the 350V segment and up to 100 KW power. In addition, Matel will also start delivering products in 600V and 200 KW power range in FY26, which are currently under the design phase. Over the next two years, it Matel plans to foray into electric motors required in the defence sector. With an order book already in hand and firm plans for product portfolio expansion, Matel is looking forward to exceeding Rs 100 crore in annual sales by next year.

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