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Exclusive: RENEE Cosmetics to raise Rs 100 Cr at a valuation of Rs 1400 Cr

EntrackrEntrackr · 1y ago
Exclusive: RENEE Cosmetics to raise Rs 100 Cr at a valuation of Rs 1400 Cr
Medial

Beauty brand RENEE Cosmetics is all set to mop up a new round led by existing investors, sources aware of the development told Entrackr. “Evolvence and Edelweiss are in the last leg of putting Rs 100 crore in Renee. The terms of the deal have been finalized and a formal announcement is likely to be out later this month,” said one of the sources requesting anonymity as discussions are private. In December 2022, RENEE scooped up $25 million in a Series B round led by Evolvence India with participation from Edelweiss Group and existing investors Equanimity and 9Unicorns (now 100 Unicorns). It has raised a total funding of $36 million to date across three rounds. As per sources, RENEE will be valued at around Rs 1,300-1,400 crore ($155-170 million) post money. This will be around 60% premium from its last valuation when the firm raised $100 million in Series B. Founded by Aashka Goradia Goble along with Beardo co-founders Priyank Shah and Ashutosh Valani, RENEE offers a wide range of eye makeup, lip colors, skin serums, and highlighters. Apart from selling on third-party e-commerce and quick commerce platforms, the firm also has presence over 650 shop-in-shop stores across India. Queries sent to RENEE, Evolvence and Edelweiss did not elicit any response until publication of the story. As per startup data intelligence platform TheKredible, Valani and Shah control 18.54% stake each in the company while Goble 17.52% stake as of Series B round. Among the external investors, Evolvence has more than 11% holding in the company. RENEE’s total revenue grew 3.1X to Rs 100.4 crore in FY23 from Rs 32.4 crore in FY22 whereas its losses also spiked 4.4X to Rs 32.6 crore during the same period. The firm claims to touch Rs 500 crore revenue threshold by 2024. It is yet to file its audited financial report for FY24. RENEE competes with conventional beauty brands like Lakme, as well as startups such as Sugar Cosmetics and MyGlamm, among others.

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Exclusive: KaarTech raises Rs 100 Cr from Playbook Partners

EntrackrEntrackr · 10d ago
Exclusive: KaarTech raises Rs 100 Cr from Playbook Partners
Medial

Exclusive: KaarTech raises Rs 100 Cr from Playbook Partners Digital transformation consulting company KaarTech has raised around $11 million (Rs 100 crore) from Playbook Partners, the backer of Renee Cosmetics. The new round came on the back of its profitability and 56% year-on-year growth in FY25, with revenue surpassing Rs 700 crore. KaarTech’s regulatory filings with the Registrar of Companies (RoC) show that its board approved the issuance of 4,00,520 Series B CCPS at an issue price of Rs 2,496.75 apiece to raise Rs 100 crore from Playbook Partners. The proceeds will be utilised towards capital expenditure, business expansion, and general working capital requirements, the filings said. According to Entrackr’s estimates, KaarTech is valued at around Rs 2,100 crore or around $231 million (post-money). In July 2023, KaarTech raised $30 million from A91 Partners. Founded in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumaran M, and Guardian George, KaarTech is a technology and consulting company focused on SAP-led digital transformation. It provides services like SAP implementation and support, cloud and data services, AI and automation, analytics, and managed services to help enterprises manage and optimize business operations. A91 Partners continued to be the largest external shareholder with a 32.78% stake, while Playbook Partners held 4.76% following the allotment of this round. The company’s co-founders Maran Nagarajan, Ratnakumar N, Selvakumaran Manickam, and Guardian George held 14.90%, 9.99%, 7.31%, and 8.01% stakes, respectively. The Chennai-based firm’s revenue grew 56.8% to Rs 718 crore in FY25 from Rs 458 crore in FY24. It also turned profitable in FY25, reporting a net profit of Rs 7.74 crore in FY25 compared to a loss of Rs 66.93 crore in FY24.

Alteria Capital announces final close of Fund III at Rs 1,550 Cr

EntrackrEntrackr · 1y ago
Alteria Capital announces final close of Fund III at Rs 1,550 Cr
Medial

Mumbai-headquartered venture debt firm Alteria Capital has announced the final close of its third fund at Rs 1,550 crore (approximately $187 million). The fund was oversubscribed with a target size of Rs 1,000 crore and a green shoe option. Alteria Capital, which has backed startups such as Rebel Foods, BlueStone, OneCard, Ather and Captain Fresh, will continue backing startups across consumer brands, e-commerce, fintech, logistics, business-to-business platforms, rural and agritech, healthcare, and climate tech. It will also evaluate companies in the Gen AI and spacetech segments. While it closed the venture debt scheme at Rs 1,550 crore, the shorter duration scheme, currently under subscription, is expected to raise around $105 million. The shorter duration scheme is likely to see its final close by the end of 2024. It will be available to all portfolio companies with the average cheque size ranging between Rs 3 crore and Rs 100 crore. The fund has already deployed 50% of the total capital commitments to portfolio companies, including OneCard, Renee Cosmetics, Samunnati, Blissclub, Rebel Foods, Giva, Lead School, Kissht, Captain Fresh, Traya, BlueStone and Ather.

Exclusive: Snitch to raise Rs 280 Cr in Series B round at Rs 2,500 Cr valuation

EntrackrEntrackr · 9m ago
Exclusive: Snitch to raise Rs 280 Cr in Series B round at Rs 2,500 Cr valuation
Medial

Exclusive: Snitch to raise Rs 280 Cr in Series B round at Rs 2,500 Cr valuation D2C menswear fashion brand Snitch is set to raise Rs 278.93 crore or $33 million, led by 360 One Asset Management Fund with the participation of existing investors SWC Global and IvyCap Ventures. This will be the second major funding round for the Bengaluru-based fashion brand, following its $13 million Series A raised in December 2023. The Snitch’s board passed a special resolution to approve the issue of 1,755 Series B CCPS at an issue price of Rs 15,89,385 to raise Rs 278.9 crore or approximately $33 million, its regulatory filings accessed from the Registrar of Companies (RoC) show. 360 One will spearhead the round with Rs 220 crore or $25.9 million, while existing backers SWC Global and IvyCap Ventures will contribute with Rs 29.4 crore or $3.5 million respectively. As per Entrackr’s estimates, Snitch will be valued at around Rs 2,400-2500 crore or $294 million post-allotment, marking a nearly 5X spike in its valuation from Rs 500 crore in its previous round. Snitch, founded in 2019 by Siddharth Dungarwal, is a direct-to-consumer (D2C) fashion brand specializing in fast fashion for men. The company offers trendy and affordable apparel through its own website, mobile application, and an expanding network of offline retail stores. As of now, Snitch has established 58 physical stores across India, with a presence in major cities such as Bengaluru, Mumbai, Delhi, and locations in Gujarat, among others. The company claims to open over 100 offline stores across India by 2028. Snitch featured during the second season of Shark Tank India and raised Rs 1.5 crore against 1.5% equity from Anupam Mittal, Aman Gupta, Namita Thapar, Vineeta Singh, Peyush Bansal, and Amit Jain at Rs 100 crore valuation. According to startup data intelligence platform TheKredible, IvyCap Ventures and SWC Global are the largest external shareholders, holding 10.39% and 10.17% stakes respectively, while new investor 360 One will hold a 9.67% stake in the company. For the fiscal year ending March 2024, Snitch reported a 100% year-on-year increase in its revenue to Rs 241 crore with Rs 4.39 crore profits. The company has yet to release its annual results for FY25. Snitch operates in a competitive D2C fashion landscape, going head-to-head with brands like The Souled Store, which achieved profitability in FY24. It also competes with Rare Rabbit, which recently secured $6 million in funding from A91 Partners, and Wrogn, which raised $9 million in October last year from Aditya Birla Digital Fashion.

Exclusive: Oxyzo secures Rs 100 Cr debt

EntrackrEntrackr · 1y ago
Exclusive: Oxyzo secures Rs 100 Cr debt
Medial

Exclusive: Oxyzo secures Rs 100 Cr debt Fintech unicorn Oxyzo has secured Rs 100 crore (approximately $12 million) in debt from AK Capital Finance, a subsidiary of merchant banker A.K. Capital Services Ltd. The boards at Oxyzo allotted 1,00,000 non-convertible debentures to AK Capital at an issue price of Rs 10,000 each to raise Rs 100 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned debentures are issued for a tenure of 24 months and carry an interest rate of 9.75% per annum, the filing added. The proceeds will be used to augment the long-term resources of the company and meet working capital requirements. Oxyzo is the lending arm of B2B e-commerce unicorn OfBusiness, providing customized credit solutions for SMEs. It offers a range of loan products, including term loans, working capital solutions, low-interest rates, and collateral-free credit options. According to data intelligence platform TheKredible, the Gurugram-based company reported operating revenue of over Rs 900 crore and a profit of Rs 290 crore for the financial year ending 2024. Oxyzo’s net profit grew 11.38% to Rs 82.89 crore and sales jumped 27.43% to Rs 282.80 crore in the quarter ended December 2024 (Q3 FY25), compared to Rs 221.93 crore in December 2023. The Ruchi Kalra-led firm achieved unicorn status by raising $200 million in its first external funding round, and it became the first startup to surpass a $1 billion valuation during its Series A round. As per TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the largest external stakeholder with 7.4% followed by Tiger Global.

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation

EntrackrEntrackr · 2m ago
Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation
Medial

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation Wint Wealth is raising Rs 120 crore (approximately $13.3 million) in its Series B funding round led by Vertex Ventures. This marks the Bengaluru-based startup’s first major fundraise in over three and a half years. Wint Wealth’s board has passed a special resolution to issue 94,047 Series B compulsory convertible preference shares at an issue price of Rs 12,804 each to raise Rs 120 crore or $13.3 million, according to the filings sourced from the Registrar of Companies. Vertex Ventures will lead the round with an investment of Rs 77.52 crore, while Unitary Fund, Eight Roads Ventures, and 3one4 Capital will infuse Rs 18.7 crore, Rs 13 crore, and Rs 8.16 crore, respectively. Zerodha’s incubation arm, Rainmatter, will also participate in the Series B with a Rs 3 crore investment. As per filings, the company plans to utilise the proceeds towards capital expenditure, marketing, and general corporate purposes. Based on Entrackr’s estimates, the wealth management startup is raising fresh capital at a post-money valuation of around Rs 707 crore (nearly $80 million). The company may raise additional capital as part of the Series B round, which could lead to changes in its valuation and shareholding structure. Post this round, Vertex Ventures will hold a 10.96% stake in Wint Wealth, while 3one4 Capital, Unitary Fund, Rainmatter, and ERVI Technology, an arm of Eight Roads Ventures, will own 8.54%, 8.32%, 2.55%, and 1.84%, respectively, according to the filings. Wint Wealth is yet to file its FY25 numbers. In FY24, the company posted Rs 17.2 crore operating revenue with a loss of Rs 18 crore.

Exclusive: Pluckk set to raise Rs 100 Cr from Euro Gulf Investment

EntrackrEntrackr · 18d ago
Exclusive: Pluckk set to raise Rs 100 Cr from Euro Gulf Investment
Medial

Pluckk set to raise Rs 100 Cr from Euro Gulf Investment Business-to-consumer fresh produce platform Pluckk is all set to raise Rs 100 crore (approximately $11 million) in a new funding round from existing investor Euro Gulf Investment. This round comes after Euro Gulf Investments’ $10 million investment in March last year, as exclusively reported by Entrackr. However, the company has not publicly announced the round yet. The board at Pluckk has passed a special resolution to issue 3,471 Series C CCPS at an issue price of Rs 2,88,112 each to raise Rs 100 crore or $11 million, its filings accessed from the Registrar of Companies show. The filings added that the fresh proceeds will be used to drive aggressive growth, service interest on debentures, and meet other corporate requirements. According to Entrackr’s estimates, the company’s valuation is expected to reach around $58 million post-allotment. Founded in 2021 by Pratik Gupta, Pluckk operates a farm-to-fork platform delivering fresh, lifestyle-focused produce to consumers. The company also offers trendy food options, including vegan products, low-carb alternatives, and items positioned around gut health and immunity. Prior to this round, the company had secured $15 million to date including its $5 million seed funding from Exponentia Ventures. Following that, it acquired the DIY meal kit platform KOOK for $1.3 million. Last year, Pluckk acquired the nutrition brand Upnourish for $1.4 million. For the fiscal year ended March 2025, the Mumbai-based company’s revenue doubled to Rs 85 crore. However, its losses also widened to Rs 55 crore in the last fiscal year from Rs 41 crore in FY24. Pluckk competed with players such as Gourmet Garden and Kisankonnect in the online fresh produce segment. At the same time, the space saw exits from funded startups including Otipy, Deep Rooted, and Fraazo, which shut down operations despite significant capital raised, reflecting the challenges in building scale in the category.

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