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Exclusive: Peak XV joins Truemeds’ Series C round with $20 Mn

EntrackrEntrackr · 7m ago
Exclusive: Peak XV joins Truemeds’ Series C round with $20 Mn
Medial

Exclusive: Peak XV joins Truemeds’ Series C round with $20 Mn Telehealth platform Truemeds has secured another $20 million or Rs 174.33 crore in its ongoing Series C round from new investor Peak XV Partners. This investment is an extension of the $44 million raised by Truemeds in March this year, led by Accel, which was exclusively reported by Entrackr. The board at Truemeds has allotted 19,737 Series C2 compulsory convertible preference shares at an issue price of Rs 88,331 each to raise the aforementioned sum from Peak XV, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The company plans to utilise the funds for business expansion and to support its growth plans, according to the filing. As per Entrackr’s estimates, its valuation stood at $410 million (Rs 3,487 crore) in the new tranche (post-allotment), a 22% increase from its C1 tranche. Founded by Naitik Nayyar and Akshat Wani, Truemeds helps consumers discover cost-effective alternative brands for prescribed medicines by analyzing the prescriptions they upload. It partners with certified pharmacies to deliver medicines at discounted prices, aiming to make healthcare more affordable and accessible. According to startup data intelligence platform TheKredible, the firm has raised over $90 million to date. Following the latest allotment, Peak XV holds a 5% stake in the company. Westbridge is the largest shareholder in Truemeds followed by Info Edge which owns 21.87% stake. Co-founders Naitik Nayyar and Akshat Wani both collectively retain 21.3%. Truemeds doubled its revenue to Rs 315 crore in FY24, while its losses narrowed by 9% to Rs 61 crore during the same period. The Mumbai-based firm competes with telehealth platforms like PharmEasy, which recorded Rs 5,664 crore in revenue in FY24, and Tata 1mg, which posted Rs 1,964 crore.

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

EntrackrEntrackr · 1y 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: The Whole Truth to raise around $34 Mn at $400 Mn valuation in Series D

EntrackrEntrackr · 1m ago
Exclusive: The Whole Truth to raise around $34 Mn at $400 Mn valuation in Series D
Medial

Exclusive: The Whole Truth to raise around $34 Mn at $400 Mn valuation in Series D Clean-label health food brand The Whole Truth is all set to raise Rs 304 crore (around $34 million) in its Series D round led by existing investor Sofina Ventures with the participation from Sauce.VC and Frangipani Capital. Previously, The Whole Truth raised $15 million in a Series C funding round led by Sofina, with participation from Z47, Peak XV Partners, and Sauce.VC in February last year. The board at The Whole Truth has passed a special resolution to approve the issue of 67,596 Series D CCPS at an issue price of Rs 44,993 each to raise the aforementioned sum, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Sofina Ventures is set to lead the Series D round with an investment of Rs 190.2 crore ($21 million), while existing investor Sauce.VC is contributing Rs 110 crore ($12.2 million) and Frangipani Capital has also joined the round with Rs 3.92 crore. The company has already received the investments from Sauce.VC and Frangipani Capital, while Sofina’s capital infusion is yet to be received. The fresh capital will be deployed to meet the company’s financial requirements and support business expansion. According to Entrackr’s estimates, the Mumbai-based firm’s post-money valuation is set to rise 69% to Rs 3,604 crore ($400 million) from Rs 2,135 crore ($254 million) in the previous Series C round. The company may raise more capital in this round and the valuation will vary accordingly. As per a separate filing, in addition to the funding, the company has expanded its ESOP pool by 13,208 options worth Rs 59.42 crore, taking the total ESOP pool value to Rs 221.6 crore ($24.6 million). The Whole Truth sells a wide range of products such as protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli. The platform offers subscription plans and claims that around 80–85% of its sales are generated through its website, with the rest coming from partnerships. The Peak XV-backed company had raised around $38 million prior to this round. Following the latest infusion, Sofina Ventures will hold a 9.28% stake in the company, while Sauce.VC will own a 10.43% stake. The Whole Truth posted a 3.3X year-on-year growth in its revenue to Rs 215.8 crore in FY25 from Rs 65.3 crore in FY24. However, the company’s losses also rose by 18% to Rs 28.15 crore during the same period.

Exclusive: Sweet Karam Coffee to top up Series A at 85% valuation premium

EntrackrEntrackr · 11d ago
Exclusive: Sweet Karam Coffee to top up Series A at 85% valuation premium
Medial

Exclusive: Sweet Karam Coffee to top up Series A at 85% valuation premium South Indian food brand Sweet Karam Coffee (SKC) is set to raise Rs 30 crore ($3.31 million) in its Series A extension round from existing investors Peak XV Partners and Fireside Ventures. The board at Sweet Karam Coffee has passed a resolution to approve the issue of 19,221 Series A1 compulsorily convertible preference shares (CCPS) at an issue price of Rs 15,609 per share to raise the above-mentioned sum, according to a filing with the Registrar of Companies (RoC). Peak XV Partners will lead the round with an investment of Rs 20 crore, while Fireside Venture Investment will participate with Rs 10 crore, taking the total fundraise to Rs 30 crore in this tranche. As per Entrackr’s estimates, the company’s valuation is expected to rise by 85% to Rs 580 crore (about $64 million) post-money, from Rs 313 crore (around $36.7 million) in its previous $8 million round. Since both participants are existing investors, the round could see additional capital coming in soon. According to the filings, the proceeds from the round will be utilised towards the expansion of the company’s business operations. Founded in 2015, SKC offers authentic South Indian sweets, snacks, and filter coffee made without palm oil, preservatives, or maida, along with condiments, pickles, masalas, and ghee. The company sells via its website, e-commerce, and quick commerce platforms, and claims to serve customers across 32 countries. In April 2025, the company raised $8 million in a Series round led by Peak XV Partners, with participation from existing investor Fireside Ventures. Following the allotment of the latest tranche, Peak XV Partners and Fireside Venture will hold 24.89% and 29.10% stake in Sweet Karam Coffee, respectively. The company’s revenue from operations grew over 4X to Rs 46 crore in FY25 from Rs 11.26 crore in FY24, while losses also increased around 3.3X to Rs 24.78 crore from Rs 7.58 crore.

Exclusive: Zetwerk raises $20 Mn from Wheelhouse Ventures

EntrackrEntrackr · 1y ago
Exclusive: Zetwerk raises $20 Mn from Wheelhouse Ventures
Medial

Business-to-business e-commerce unicorn Zetwerk has raised Rs 166 crore or $20 million from Wheelhouse Venture Capital in the ongoing Series F funding round. This is the maiden investment for Wheelhouse Venture in the Bengaluru-based firm. The board at Zetwerk has passed a special resolution to allot 40,81,593 Series F2 CPPS at an issue price of Rs 407.39 each to raise Rs 166.28 crore or $20 million, its regulatory filing sourced from the Registrar of Companies shows. As per startup data intelligence platform TheKredible, the firm has been valued at $2.8 billion in the new round, slightly higher than the $2.7 billion reported in its previous round of $120 million. Entrackr had exclusively reported the development in October 2023. Following the fresh proceeds, Wheelhouse got a little less than 1% stake in Zetwerk while Greenoaks remained the largest stakeholder with 21.63% followed by Peak XV partners and Lighspped. Its co-founders Srinath Ramakkrushnan and Amrit Acharya cumulatively command 15.56% of the company. Head to TheKredible for the complete cap table. Zetwerk partners with offline suppliers engaged in the fabrication, machining, casting, forging, and galvanizing of machine parts. Operational in over 15 countries, it claims to serve over 100 customers across more than 25 industries in India, North America, MEA, et al. Continuing its growth trajectory in the last fiscal year, Zetwerk’s GMV (gross revenue) surged 2.3X to Rs 11,448 crore while its losses grew 81% to Rs 109 crore in the same period (FY23).

Exclusive: Grapevine set to raise Series A led by Kae Capital

EntrackrEntrackr · 4m ago
Exclusive: Grapevine set to raise Series A led by Kae Capital
Medial

**Exclusive: Grapevine set to raise Series A led by Kae Capital** Anonymous social media platform Grapevine is set to raise Rs 33.86 crore (around $3.8 million) in its Series A round, led by Kae Capital, with participation from Peak XV Partners and Unilazer Ventures. According to the company’s latest regulatory filing with the Registrar of Companies (RoC), the board has approved a special resolution to issue 44,325 Series A preference shares at a price of Rs 7,599.5 per share, to raise the aforementioned amount. As per the filing, Kae Capital will invest Rs 18 crore, while Peak XV Partners and Unilazer Ventures will contribute Rs 7 crore and Rs 8.6 crore, respectively. The company plans to deploy the funds toward expansion and overall business growth. According to Entrackr’s estimates, the fresh funding will value the company at a post-money valuation of around Rs 150 crore ($17 million). Following this transaction, Peak XV Partners will command a 20.77% stake, while Kae Capital and Unilazer Ventures will own 11.97% and 5.69%, respectively. Meanwhile, Grapevine’s co-founders, Jainam Dinesh Talsania, Shreeyash Nitin Dharmadhikari, and Saumil Sanjai Tripathi, will collectively retain 48.78% ownership in the company. Prior to this round, Grapevine had raised $2.6 million in its seed round, led by Peak XV Partners, which had picked up a little over 20% stake at the time. Entrackr had exclusively reported that development as well. Founded in early 2023, Grapevine enables unrestricted and anonymous discussions across topics such as career, finance, professional experiences, and personal matters. The platform claims to have a thriving community of over 30,000 members, largely comprising professionals from tech companies and startups. The company competes to an extent with FishBowl, Blind, Together, and Reddit, all of which operate in the anonymous professional networking and discussion space.

Exclusive: Newtrace to raise pre Series A funding led by HDFC Bank

EntrackrEntrackr · 6d ago
Exclusive: Newtrace to raise pre Series A funding led by HDFC Bank
Medial

Newtrace is set to raise Rs 28 crore (approximately $3.12 million) in a pre-Series A round from HDFC Bank and Japan-based Mitsui Sumitomo Insurance. Existing investors Aavishkaar Capital, Peak XV Partners, Speciale Invest, and Micelio Fund also participated in the new round. The board at Newtrace approved the issue of 2,541 pre-Series A CCCPS at an issue price of Rs 111,694 each to raise the funds, according to a filing with the Registrar of Companies (RoC). HDFC Bank will lead the new round with Rs 4.9 crore, followed by Peak XV, Aavishkaar Capital, and Mitsui Sumitomo Insurance, which will invest Rs 4.35 crore each. Speciale Invest, Micelio Technology Fund, and other existing investors will contribute the remaining amount. Newtrace's valuation post-money is estimated to be Rs 237 crore (approximately $26 million). The proceeds will be used for product development, expansion, infrastructure and delivery capabilities, and overall growth. Founded in 2021 by Prasanta Sarkar and Rochan Sinha, Newtrace develops cost-efficient electrolyzer technology for green hydrogen production. Prior to this round, Newtrace raised over $6.5 million, including a $5.65 million round in May 2023 led by Peak XV and Aavishkaar Capital. Speciale Invest will hold a 12.88% stake after the allotment of the new round, followed by Peak XV (12.88%), Micelio Technology Fund (11.65%), Aavishkaar Capital (5.80%), HDFC Bank (2.11%), and Mitsui Sumitomo (1.84%). For the fiscal year ended March 2025, Newtrace reported Rs 1.8 crore in operating revenue, with losses widening 73% to Rs 15.6 crore.

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