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Sauce.VC floats third VC fund with target corpus of Rs 250 Cr

EntrackrEntrackr · 1y ago
Sauce.VC floats third VC fund with target corpus of Rs 250 Cr
Medial

Consumer-focused early-stage venture capital firm Sauce VC has launched its third fund with a target to raise Rs 250 crore, according to an ET report. Sauce.VC had received clearance from the Securities and Exchange Board of India (Sebi) a few weeks ago for the new fund. The New Delhi-based firm invests in new-age consumer brands and platforms at a pre-revenue or idea stage. To date, it has invested in 21 companies from its two separate funds that were launched in 2019 and 2021. Sauce.VC launched its first fund in 2019 with a target corpus of Rs 60 crore. It launched its second vehicle in 2021 with a fund size of Rs 158 crore. Its latest Sauce Continuity Fund was closed with a corpus of Rs 263 crore. It has already invested in XYXX, The Whole Truth Foods, Mokobara, Innovist, and Supertails from the continuity fund, and has plans to add oral care brand Perfora, ice cream brand Hocco and energy drink Rockit to the list of top-ups.

RPSG Capital Ventures closes Fund II at Rs 550 Cr

EntrackrEntrackr · 1y ago
RPSG Capital Ventures closes Fund II at Rs 550 Cr
Medial

Early-stage consumer venture capital fund RPSG Capital Ventures has announced the close of its latest Fund II with Rs 550 crore. The investor base for this fund is largely domestic including family offices, high net worth individuals and industry veterans from the consumer sector. Along with other repeat investors from its previous funds, RPSG group itself has doubled their initial investment as the anchor investor. RPSG Capital Ventures has invested into 16 companies till date that includes brands such as The Souled Store, Supertails, Perfora, mCaffeine, Vedix, SkinKraft, Plix, and True Elements amongst others. “With this new Fund, we’ll continue to invest into new age consumer businesses that have solid unit economics, differentiated positioning, and strong teams.” said Abhishek Goenka, partner at RPSG Capital Ventures. The fund invests in Series A rounds with first cheques of Rs 10 to Rs 40 crore in the digitally native consumer ecosystem across F&B, beauty, health and wellness, entertainment, lifestyle goods and consumer enabler categories.

Perfora manages 30X revenue growth in three years

EntrackrEntrackr · 4m ago
Perfora manages 30X revenue growth in three years
Medial

Perfora manages 30X revenue growth in three years Oral-care brand Perfora has experienced rapid growth over the past three fiscal years, with revenue surging 30X from Rs 1.4 crore in FY22 to over Rs 42 crore in FY24. This growth has been steered by the rising demand for electric toothbrushes and other oral care products. On a year-on-year basis, Perfora’s revenue from operations grew 2.8X to Rs 42.2 crore in FY24 from Rs 15 crore in FY23, according to its consolidated financial statement sourced from the RoC. Perfora offers personalized electric toothbrushes, toothpastes, alcohol-free mouthwashes, and other related offerings. The sale of these products remained the sole source of revenue for Perfora in FY24. Advertising expenses were the largest cost center, increasing 3X to Rs 20.5 crore, accounting for 38% of total expenses. The cost of materials doubled to Rs 19.5 crore, while employee benefit expenses rose 2.8X year-on-year to Rs 3.7 crore. Other expenses, including administrative and operational costs, contributed Rs 10.3 crore in the last fiscal years. Overall, the DSG-backed company’s total expenses surged 2.6X, reaching Rs 54 crore in FY24 from Rs 20 crore in FY23. By the end of FY24, Perfora’s losses more than doubled to Rs 10.6 crore from Rs 5 crore in FY23. Its Return on Capital Employed (ROCE) stood at -75.94%, while its EBITDA margin was -23.23%. On a unit level, Perfora spent Rs 1.28 to earn every rupee of operating revenue in FY24. At the close of FY24, the Gurugram-based firm recorded current assets worth Rs 24 crore, including Rs 9.6 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Perfora has raised a total of $4 million of funding till date, having Sauce as its lead investor with 16% stake. The company’s co-founders Jatan Bawa and Tushar Khurana together own 48.5% of the company.

Exclusive: Bare Anatomy parent Innovist kicks off Series B round

EntrackrEntrackr · 3m ago
Exclusive: Bare Anatomy parent Innovist kicks off Series B round
Medial

Innovist, the parent company of Bare Anatomy, Chemist at Play, and Sunscoop, is raising Rs 49.25 crore (approximately $5.7 million) in its Series B round. This marks the first round of investment for the Gurugram-based company in 2025. The board at Innovist has passed a special resolution to issue 72,223 Series B compulsory convertible preference shares at an issue price of Rs 6,819 each, raising Rs 49.25 crore, according to its regulatory filing accessed from the Registrar of Companies (RoC). IVen Amplifi Fund (managed by ICICI Ventures Fund) will lead the round with Rs 19.47 crore, while Mirabilis Investment Trust will contribute Rs 10.1 crore. Sauce.VC and Niveshaay Sambhav Fund will also participate, investing Rs 8.75 crore and Rs 10 crore, respectively. The fresh proceeds will be utilized for recruitment, operations, sales, marketing, and other general corporate purposes, as decided by the board. According to Entrackr estimates, the company will be valued at approximately $140 million post-allotment. This capital infusion appears to be part of a larger funding round, with the potential for additional investments that could further impact its valuation. Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist—formerly known as Onesto Labs—offers personal care products. It currently operates three brands: Bare Anatomy, Chemist at Play, and Sunscoop. Innovist has raised over $16 million to date, including a $7 million Series A round led by the Amazon Smbhav Venture Fund. According to the startup data intelligence platform TheKredible, prior to this round, Sauce.VC was the largest external stakeholder, followed by 72 Ventures, Accel India, and the Amazon Smbhav Fund. The company has not yet filed its annual statements for the previous fiscal year (FY24). In FY23, it reported operational revenue of Rs 36.53 crore, while its losses amounted to Rs 16.87 crore during the same period.

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