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91Trucks begins Series A round with 5.5X valuation surge

EntrackrEntrackr · 2m ago
91Trucks begins Series A round with 5.5X valuation surge
Medial

91Trucks, an online platform specializing in commercial vehicle listings, raised Rs 42.9 crore ($5 million) in its Series A round led by Arkam Ventures with the participation from Titan Capital and others. 91Trucks, an online platform specializing in commercial vehicle listings, raised Rs 42.9 crore ($5 million) in its Series A round led by Arkam Ventures through associate (Unitary Fund), with the participation from Titan Capital, Sparrow Capital, and Atrium Angels. 91Truck’s board has issued 2,247 Series A CCPS at an issue price of Rs 1,88,578 each to raise the aforementioned amount, its regulatory filings accessed from the Registrar of Companies (RoC) show. Arkam Ventures led the round with Rs 25.2 crore (approximately $3 million) followed by Titan Capital, which injected Rs 15 crore. Sparrow Capital and Atrium Angels also joined the round with Rs 1.73 crore and Rs 1 crore investment, respectively. The proceeds from this round will be utilized for capital expenditures, marketing, and general corporate purposes, the filings said. As per Entrackr’s estimates, the Gurugram-based company’s valuation has soared 5.5X to Rs 280 crore or $33 million (post-allotment of Series A round), compared to Rs 50.47 crore at the time of its seed round. Launched in 2022, 91Trucks offers information on new and used trucks, buses, and auto rickshaws—including prices, specs, comparisons, and dealer contacts. As per its website, it also runs five physical stores in Delhi-NCR and Meerut for affordable used vehicle purchases. Startup data platform TheKredible shows Arkam Ventures as the largest external shareholder in the company with a 9% stake, followed by Titan Capital (5.35%) and Sparrow Capital (4.94%). For the fiscal year ending in March 2024, 91Trucks reported Rs 10.11 crore revenue, compared to Rs 3.95 crore in FY23. Looking at the bottom line, its losses stood at less than Rs 1 crore. It’s yet to disclose FY25 numbers.

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Exclusive: 91Trucks set to raise new round led by Arkam Ventures

EntrackrEntrackr · 4m ago
Exclusive: 91Trucks set to raise new round led by Arkam Ventures
Medial

Exclusive: 91Trucks set to raise new round led by Arkam Ventures 91Trucks, an online platform specializing in commercial vehicle listings, is all set to raise a new round to the tune of Rs 30-35 crore ($3.5-4 million), according to sources aware of the development. Arkam Ventures is leading a Rs 30-35 crore funding round in 91Trucks, with some existing investors expected to participate, according to a source. "The terms of the deal have been finalized, and an official announcement is expected soon.” Founded in 2022 by Abhishek Gautam, Siddharth Sharma, and Vikas Sharma, 91Trucks is a Gurugram-based platform that provides reviews, specifications, and customer ratings for trucks, buses, and three-wheelers, helping users make informed purchasing decisions. It works closely with automotive manufacturers, dealers, banks, and NBFCs to offer IT solutions and financing options. In May 2024, 91Trucks secured seed funding from investors including Titan Capital, Atrium Angels, and Sparrow Capital. However, the company did not announce the fundraise in the media. As per sources, 91Trucks may get a $15-20 million valuation post money. 91Trucks declined to comment on the story, while queries sent to Arkam Ventures did not elicit a response until the time of publication. According to startup data intelligence platform TheKredible, Titan Capital is the largest external shareholder in the company with a 5.78% stake, followed by Sparrow Capital with 4.72%. For the fiscal year ending in March 2024, 91Trucks reported Rs 10.11 crore revenue against Rs 3.95 crore in FY23. During the last fiscal year, its losses stood at less than Rs 1 crore. Arkam Ventures, which backed companies like Jar, Kreditbee, Jai-Kisan, Jumbotail, and Signzy through its first fund, introduced its second fund of $180 million in June 2023, with plans to invest in around 20 early-stage startups.

Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge

EntrackrEntrackr · 5m ago
Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge
Medial

Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge Clean-label health food brand The Whole Truth is raising Rs 133.3 crore (approximately $15.8 million) in a series C round led by Sofina Ventures, with the participation of Peak XV and Matrix Partners. The board at The Whole Truth has passed a special resolution to issue 45,097 Series C preference shares at an issue price of Rs 29,556.5 each to raise Rs 133.3 crore or $15.8 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Sofina Ventures is leading the Series C round with an investment of Rs 65.8 crore, while Peak XV and Matrix Partners will contribute Rs 25 crore and Rs 29.5 crore, respectively. Sauce Continued Fund will also participate with an investment of Rs 13 crore. The fresh funds will be used to meet financial requirements and support business expansion. According to Entrackr’s estimates, the Mumbai-based company will have a post-allotment valuation of approximately Rs 2,135 crore ($254 million). This marks a 3.6X increase in valuation compared to its previous Series B round, which closed at $70 million. According to the filings, after the fresh funding round, Peak XV will hold 21.14% of the firm, while Matrix Partners will own 21.4%. Sofina Ventures and Sauce Continuity will hold 3.08% and 3.77%, respectively. The Whole Truth was reportedly in discussions to raise $25 million in a new funding round. The company has secured $15.8 million so far and may raise additional funds as the round progresses. The Whole Truth offers a range of products, including protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli. The company provides subscription options and claims that 80-85% of its sales come from its website, with the remaining revenue generated through partnerships. The Whole Truth recorded an 81% year-on-year growth, with revenue rising to Rs 65.3 crore in FY24 from Rs 35.96 crore in FY23. The company reduced its losses by 33% during the same period.

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge

EntrackrEntrackr · 1m ago
Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge
Medial

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge Feminine hygiene brand Plush to raise its Series B funding round, led by angel investor Ajay Kumar Aggarwal, with participation from Careernet Technologies, OTP Ventures, Blume Ventures, and 11 other investors. The board at Plush has passed a special resolution to issue 4,099 Series B preference shares to raise Rs 30.56 crore or $3.6 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows. Ajay Kumar Aggarwal will lead the round with an investment of Rs 6 crore, while existing investors Careernet Technologies, OTP Ventures, and Blume Ventures will contribute Rs 5 crore, Rs 3 crore, and Rs 4 crore respectively. The remaining amount will be collectively invested by Rahul Garg, Sumit Jalan, Blue Ashva Varenya Fund, Rahul Kayan, and seven other investors. According to Entrackr’s estimates, the company’s valuation is expected to reach around Rs 281 crore (approximately $33 million) post-allotment. This marks nearly a 3X spike in its valuation, compared to its previous pre-Series B round. Following the fresh proceeds, Angel Investor Ajay Kumar Aggarwal will hold 19.64% stake in the company followed by Careerner Technologies and Blume Ventures which holds 16.37% and 13.08% respectively. Founded in 2019, the Chennai-based startup focuses on feminine care products, offering a range that includes period care, hair removal, intimate wellness, and skincare solutions. According to the company, its products are currently available in 500 stores across Bengaluru, Chennai, Mumbai, Delhi, and Hyderabad, with plans to expand retail presence to 2,000 stores over the next six months. Plush reported an 84% year-on-year revenue growth to Rs 28.87 crore in the fiscal year ending March 2024. During the same period, the company posted a loss of Rs 4.4 crore. The startup is projected to close FY25 with Rs 60 crore revenue.

Exclusive: Brick&Bolt valuation soars 3X in new round

EntrackrEntrackr · 4m ago
Exclusive: Brick&Bolt valuation soars 3X in new round
Medial

Tech-enabled construction company Brick&Bolt is raising Rs 16.6 crore (approximately $1.95 million) in its pre-Series B round from Foundamental. Foundamental is a US-based investment firm that has previously invested in Indian companies, including Infra.Market in its Series A round in 2020. The board at Brick&Bolt has passed a special resolution to issue 369 pre-Series B compulsory convertible preference shares at an issue price of Rs 4,50,087 to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. As per filings, the proceeds will be utilized for immediate working capital and long-term funding requirements for the business. Brick&Bolt provides construction solutions such as complete construction, carpentry, woodwork, kitchen renovations for land and home owners. It operates in Bengaluru, Mysuru, Hyderabad, Chennai, Delhi-NCR and Pune. According to startup data intelligence platform TheKredible, the Bengaluru-based firm has raised approximately $16.5 million to date, led by Surge Ventures, Accel, and Celesta Capital. This includes a $10 million Series A round secured in January 2023 from Accel and Celesta Capital. According to Entrackr’s estimates, the firm will be valued at approximately Rs 891 crore ($105 million) post-allotment, marking a nearly 2.9X increase from around Rs 310 crore ($36.5 million) in its Series A round. Participating investor Foundamental will hold an 8.28% stake. It’s likely to raise additional funds in this round, which may further impact its valuation. The company reported an 81% surge in operating revenue, standing at Rs 42.25 crore for the fiscal year ending March 2024. Notably, it managed to curb losses, which declined by 10% to Rs 31 crore in the last fiscal year (FY24).

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