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Mixed reality startup Flam bags $14 Mn led by RTP Global

EntrackrEntrackr · 2m ago
Mixed reality startup Flam bags $14 Mn led by RTP Global
Medial

Mixed reality startup Flam has raised $14 million (around Rs 119 crore) in its Series A round led by RTP Global, with participation from Dovetail and existing investors. Earlier in May 2024, Flam had raised $4.5 million in its pre-Series A round from Turbostart, Twin Ventures and others. The fresh proceeds will be used to scale operations in the US market while maintaining its presence in India, where it began monetizing a year ago. The brand claims to hold a 45% market share in the US. Founded in 2021 by Shourya Agarwal, Malhar Patil, and Rajat Gupta, Flam offers mixed reality brand experiences through social media links, websites, and QR codes, enabling brands to engage audiences effectively. It counts over 100 large tech and e-commerce brands as clients, including Google, Samsung, LG, Flipkart, Britannia, Netflix, AJIO, Wargaming, and WPP. Since the beginning of this year, Flam has been ramping up its R&D efforts on app-less Gen AI infrastructure that allows brands to create, launch, and track high-fidelity mixed reality (MR), 3D, and digital experiences in under 300 milliseconds on any smartphone.

Sam Altman and Elon Musk are beefing, but the two share plenty in common

Business InsiderBusiness Insider · 1y ago
Sam Altman and Elon Musk are beefing, but the two share plenty in common
Medial

This article discusses a dispute between Sam Altman, CEO of OpenAI, and Elon Musk, former co-chair of OpenAI. Altman's investments aim to prepare for the emergence of artificial general intelligence, while Musk filed a lawsuit against Altman and OpenAI, claiming a compromise to its nonprofit mission. The article highlights their contrasting public perceptions, with Altman being less polarizing than Musk. Other topics covered include: Goldman Sachs' AI strategy, upcoming interest rate cuts, China's canceled press conference, Nvidia potentially surpassing Apple in value, concerns about Microsoft's AI image creator, layoffs at Facebook Messenger, Apple's push into streaming, and Prologis' expansion into data centers.

Captain Fresh raises $25 Mn in ongoing funding round

EntrackrEntrackr · 1y ago
Captain Fresh raises $25 Mn in ongoing funding round
Medial

Captain Fresh, a fish and seafood tech startup, has raised $25 million as part of a continuing larger funding round. The extension of the series C round is joined by Nekkanti seafoods group and British International Investment (BII), a UK-based development finance institution and impact investor, and a few family offices. Proceeds will be used to fuel its distribution presence in the US and Europe, and enhance multi-origin vertically integrated seafood platform, among others, the company said in a press release. With this, Captain Fresh has raised a total of $45 million across multiple tranches in its Series C extended round with $20 million raised in September last year. Strategic Business Innovators (SBI) and Evolvence fund led the first tranche with participation from Tiger Global, Prosus, Accel and Matrix Partners India. The firm also raised $13 million in January this year and will close the extended Series C at $48 million. As per startup data intelligence platform TheKredible, Captain Fresh was valued at around $480 million when it raised $13 million and is likely to close the ongoing round at $500 million. Five-year-old Captain Fresh’s product portfolio encompasses over 100 species of fish and seafood, sourced from over a dozen countries globally and catering to customers in more than 30 countries. Captain Fresh has offices in India, the US, Dubai, Paris, Oslo, Amsterdam and Madrid. The firm claims that it handles over 80,000 metric tonnes of seafood annually with India constituting 90% of this. Some percentage of demand also comes from Southeast Asia. Captain Fresh recently completed the acquisition of a 40-year-old, Paris-based, shrimp cooker and distributor, Senecrus, as part of its EU expansion strategy. As per TheKredible, Captain Fresh’s gross revenue surged nearly 4X to Rs 817 crore in the fiscal year ending March 2023 while its losses also shot up 2.6X to Rs 294 crore in the same period.

Ice cream brand Go Zero raises $1.5 Mn

EntrackrEntrackr · 1y ago
Ice cream brand Go Zero raises $1.5 Mn
Medial

Ice cream brand Go Zero has raised $1.5 million in its follow-on pre-Series A funding round from DSG Consumer Partners, Saama, and V3 Ventures, among others. The round also saw participation from notable angel investors such as Arjun Purkayastha. Earlier in August last year, the startup had raised $1 million in its pre-Series A funding round led by DSG Consumer Partners, Saama, and V3 Ventures. Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. The startup claims that all its products are sweetened with plant-based sweeteners, which are low in calories. Currently present in 16 cities and over 125 dark stores, Go Zero ice cream brand is available on both quick commerce and e-commerce platforms in less than two years of launch. In FY24, Go Zero claims to have grown 4X compared to FY23 and while it saw 7X growth on quick commerce in just 5 months this summer. Go Zero competes with Hocco and NIC. Last year, NIC had raised $11 million in a growth funding round led by Jungle Ventures whereas Hocco recently raised $12 million from Chona family and others.

Interior design startup Flipspaces raises $35 Mn

EntrackrEntrackr · 2m ago
Interior design startup Flipspaces raises $35 Mn
Medial

Mumbai-based interior design startup Flipspaces has raised $35 million in a funding round led by Iron Pillar. Prudent Investment Managers and Synergy Capital Partners have also participated. The funding includes both primary and secondary capital and will be used to ramp up growth in India, the US, and the UAE, enhance technology capabilities, and explore potential acquisitions. The round also facilitated an exit for early-stage investor Carpediem. Earlier in September 2023, Flipspaces had raised $4 million in its pre-Series B round led by Prashasta Seth and others. Founded by Kunal Sharma, Flipspaces operates a tech-first platform that integrates design, supply chain management, and project execution, targeting the SMB segment, which constitutes 60% of the commercial design market. The startup claims to have scaled to $40 million (approximately Rs 340 crore) in revenue, uses technology to provide end-to-end design and build solutions and has achieved profitability in both India and the US, where it generates 20% of its revenue. Flipspaces claims to have delivered over 8 million sq. ft. of commercial spaces for over 1,000 clients globally, including SMBs, large enterprises, co-working spaces, and retail brands. Its proprietary tools enable immersive visualizations and remote project monitoring through 360-degree views, enhancing client experience and operational efficiency. While Flipspaces has yet to file its annual financial report for FY25, the company registered an operating revenue of Rs 190 crore in FY24—a 90% increase from Rs 100 crore in FY23. However, it also recorded a loss of Rs 8 crore in FY24, less than half of the Rs 19 crore loss in FY23.

Capillary Technologies set to raise $90-100 Mn via secondary

EntrackrEntrackr · 1y ago
Capillary Technologies set to raise $90-100 Mn via secondary
Medial

Customer loyalty and engagement technology solutions provider Capillary Technologies is all set to raise $90-100 million in a secondary round, sources aware of the development told Entrackr. “Existing investors are selling their stakes in Capillary and this is an extension to the previous round,” said one of the sources requesting anonymity. In June 2023, Capillary announced the closure of its $45 million series D round from Avataar Ventures along with its LPs (Pantheon, 57Stars, and Unigestion), Filter Capital, and Innoven Capital. Capillary offers a comprehensive view of consumers, and unified, cross-channel strategies that deliver a real-time omnichannel, personalised, and consistent experience for customers. It has a presence across the United States, India, the Middle East, Asia, et al. Founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, the company works with over 100 loyalty programs, and over 250 brands including the likes of Tata, PUMA, Shell, Al-Futtaim among others. As per sources, Capillary is likely to close this transaction soon. Queries sent to Capillary did not elicit an immediate response. We’ll update the story in case we hear from them. Earlier, Capillary had claimed that the US accounts for more than a third of its revenue. The firm also acquired three companies in the US – Persuade, Brierley+Partners, and Tenerity’s Digital Connect. While Capillary is yet to disclose its FY23 financial results, it reported Rs 223 crore in revenue from operations during FY22. The firm’s losses also jumped from Rs 22.8 crore to Rs 100 crore during FY22.

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