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Mithun Sacheti And Binny Bansal Join Xeed Ventures As Anchor LPs
Inc42
·
1y ago
Medial
CaratLane founder Mithun Sacheti and Flipkart co-founder Binny Bansal have become anchor limited partners in Bengaluru-based Xeed Ventures, an early-stage fund managed by Sailesh Tulshan. The INR 600 Cr fund, previously called as 021 Capital, has also secured Premji Invest as another limited partner. Xeed, focusing on enterprise, B2B, and fintech deals, aims to invest amounts below $1 Mn and has already deployed 70% of its capital. Some of its investments include Charcoal.inc and Kredit.pe. This news comes at a time when several prominent founders have launched or backed venture capital funds.
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CaratLane’s Mithun Sacheti, Binny Bansal back Xeed as Indian founders turn big local sponsors
Economic Times
·
1y ago
Medial
Indian startup ecosystem is seeing more influential founders becoming funders by backing various funds. CaratLane founder Mithun Sacheti and Flipkart cofounder Binny Bansal have become anchor LPs in Bengaluru-based Xeed Ventures, an early-stage fund led by Sailesh Tulshan. The fund, formerly known as 021 Capital, has also secured Premji Invest as an LP. Xeed Ventures will focus on enterprise, B2B, and fintech deals, with investments below $1 million. Other founders have also contributed capital to the fund, which has already closed investments in Charcoal.inc and Kredit.pe.
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Startups take the DMart playbook to smalltown India—investors like the idea
Livemint
·
8d ago
Medial
A new trend in India sees value-retail startups like SuperK, Apna Mart, and Aap ka Bazar attracting significant venture capital by focusing on small towns with tech-enabled retail formats. These startups aim to compete with established players like DMart and Reliance's Smart Bazaar by offering affordable and high-utility products. Notably, investors such as Flipkart co-founder Binny Bansal and CaratLane founder Mithun Sacheti are showing keen interest in this evolving retail landscape.
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Value retailer SuperK raises Rs 100 crore co-led by Binny Bansal, Mithun Sacheti; cricketer Shubman Gill joins as investor - The Economic Times
Economic Times
·
15d ago
Medial
SuperK, an Andhra Pradesh-based budget retail chain, raised Rs 100 crore in a Series B funding round, co-led by Binny Bansal’s 3STATE Ventures and Mithun Sacheti. Indian cricketer Shubman Gill also invested, alongside existing backers. SuperK, founded in 2020, operates 130 franchisee-led stores in 80 towns, focusing on affordable groceries and household essentials. The funding will enhance hiring and expansion, targeting India’s vast yet under-served grocery retail market, predominantly in Tier-II and smaller cities.
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IppoPay Pockets Funding From CaratLane Founder Mithun Sacheti, Others To Expand Its Fintech Play
Inc42
·
1y ago
Medial
IppoPay, a digital payment and banking solutions provider, has raised an undisclosed amount of funding from Mithun Sacheti, founder of CaratLane, and Siddhartha Sacheti, CEO of Jaipur Gems. The funding round resulted in an exit for Coinbase Ventures, an early backer of IppoPay. The company aims to support both offline and online businesses with its digital payment services.
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BorderPlus raises $7 Mn led by Owl Ventures
Entrackr
·
5m ago
Medial
BorderPlus, a new-age cross-border workforce mobility platform, has raised Rs 60 crore ($7 million) in a funding round led by Owl Ventures, and participation from entrepreneurs including Binny Bansal, Mithun Sacheti, Ritesh Agarwal, Aakash Chaudhary, and Apoorva Patni. This marks BorderPlus' first institutional (external) funding round. The proceeds will be fuelling its mission to streamline international career opportunities for skilled Indian workers, starting with healthcare professionals and nurses. Mayank Kumar, co-founder of upGrad, and Ayush Mathur, a former senior leader at OYO, launched BorderPlus in January this year. BorderPlus provides end-to-end support, including finishing school training, language learning, visa processing, employment opportunities, cultural integration, local qualification recognition, financing, and talent leasing. The firm has already begun training its first batch of nurses, preparing them for global placements with a comprehensive approach that includes language training, visa processing, job placements, cultural integration, and financial support.
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Exclusive: CaratLane Founder Mithun Sacheti Sets Up Investment Firm
Inc42
·
10m ago
Medial
- Mithun Sacheti's brother, Siddhartha Sacheti, is part of the new entity called Finqube. - Finqube is registered in Chennai and will focus on managing investments in early and growth stage companies. - There are currently no plans to launch a separate fund under Finqube Capital. - Mithun Sacheti declined to provide further details about Finqube's plans.
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Gold loan startup Oro Money raises $12.5 Mn in new round
Entrackr
·
1y ago
Medial
Chennai-based gold loan platform Oro Money has raised approximately $12.5 million in a new funding round. The startup issued preference shares to raise Rs 105 crore, with new investors Singularity Ventures and Three State Capital contributing Rs 28 crore and 16 crore respectively. Existing investors PI Opportunities Fund and 021 Capital also participated, along with individual investors Mithun Sacheti and Siddhartha Sacheti. Oro Money, which offers gold loans at an interest rate of 9.48%, plans to expand to Coimbatore and Delhi. It competes with firms such as Indiagold, Ruptok, and Rupeek.
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CaratLane founder Mithun Sacheti becomes co-sponsor and general partner at Singularity Growth
Economic Times
·
1y ago
Medial
Mithun Sacheti, the founder of CaratLane, has been appointed as the co-sponsor and general partner at Singularity Growth. Sacheti will bring his expertise in scaling businesses and building successful global brands to the venture capital firm, which focuses on investing in technology and consumer brands. This strategic partnership aims to drive growth and foster innovation in the startup ecosystem.
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VIP owners sell 32% stake to consortium, to trigger open offer for luggage firm
Livemint
·
26d ago
Medial
VIP Industries' promoters have sold a 32% stake in the company for ₹1,764 crore to a group of investors, including Multiples PE Fund IV, Multiples Gift Fund IV, Samvibhag Securities, and individual investors Mithun Padam Sacheti and Siddhartha Sacheti. The transaction will trigger an open offer, enabling the buyers to potentially acquire more shares in the company.
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Our 1st store was terribly wrong, was all tech: CaratLane ex-CEO
YouTube
·
1y ago
Medial
Mithun Sacheti, the Co-founder and former CEO of CaratLane, admitted that the initial approach with the startup's first store was a significant misstep, as it was overly centered on technology and lacked a substantial jewelry inventory. He further acknowledged that the second store was also flawed due to architectural inadequacies for showcasing everyday jewelry. However, Sacheti emphasized that these challenges were eventually addressed and rectified with the opening of the third store.
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