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OfBusiness co-founder Nitin Jain steps down to start new venture

EntrackrEntrackr · 2d ago
OfBusiness co-founder Nitin Jain steps down to start new venture
Medial

Nitin Jain, co-founder and chief business officer of business-to-business (B2B) e-commerce platform OfBusiness and its lending arm Qxyzo, has quit his role and plans to launch a new venture. Jain announced his departure from the Gurugram-based company through a LinkedIn post. According to an ET report, Jain had planned to exit the company last year and had stepped down as CBO, before later returning to the role while simultaneously holding talks with investors to raise funds for his new venture. Co-founded in 2016 by Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, Bhuvan Gupta, and Jain, OfBusiness provides raw material procurement and financing solutions to SMEs operating in the manufacturing and infrastructure sectors through its platform.

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Almonds Ai raises Rs 16 Cr in Seed funding round

EntrackrEntrackr · 10m ago
Almonds Ai raises Rs 16 Cr in Seed funding round
Medial

url: https://entrackr.com/snippets/almonds-ai-raises-rs-16-cr-in-seed-funding-round-8720730 Content: Almonds Ai, a channel loyalty and rewards platform, has raised Rs 16 crore (nearly $1.9 million) in a seed funding round co-led by promoters of Haldiram’s and JITO Incubation and Innovation Foundation (JIIF). The round also saw participation from Venture Catalysts, Ever Grow Capital, Nine ALPS, and other investors such as Hemant Jain and OfBusiness co-founder Nitin Jain. The proceeds will be utilized to accelerate R&D initiatives, expand the team, and enhance product offerings, Almonds Ai said in a press release. Co-founded in 2020 by Abhinav Jain and Apurv Modi, Almonds Ai aims to redefine how brands engage with their distribution networks through cutting-edge AI technology, enhancing engagement, education, and rewards for retailers, dealers, and influencers. Almonds Ai states that its flagship Channelverse ecosystem and green loyalty programs aim to create an impact in AI-driven loyalty management and sustainability, enabling businesses to build deeper, data-driven relationships with their distribution networks. The Gurugram-based company claims to have 100 distribution-led organizations and a network of 6 million channel partners, including retailers, dealers, and professionals such as drivers, painters, and mechanics. Almonds Ai asserts that its AI-powered platform will play a crucial role in optimizing sales channels, improving partner engagement, and driving customer retention across sectors.

Rahul Chaudhary quits Matrix Partners; to start his new venture

EntrackrEntrackr · 1y ago
Rahul Chaudhary quits Matrix Partners; to start his new venture
Medial

Rahul Chaudhary, who joined venture capital fund Matrix Partners India in February last year, has quit the firm to start his new venture, according to sources aware of the development. Chaudhary left the firm in January this year. As per sources, Chaudhary is planning to launch his new venture soon. Before joining Matrix, Chaudhary spent nearly seven years at Treebo as the co-founder and currently serves as board member of the hotel aggregating platform. Sidharth Gupta and Kadam Jeet Jain are the other two co-founders of the Bengaluru-based company. It’s worth noting that Matrix is an early investor in Treebo. During Chaudhary’s tenure at Matrix Partners India, the had launched a fund worth $450 million and later extended the target size for the fund to $525 million. Since then, the fund has backed more than dozen startups including Neysa, InPrime, Krutrim SI Designs, Aampe, Atomic Work, Wootz.work, Stable Money, and Scapia, among others. Further details about Chaudhary’s new venture couldn’t be ascertained. Queries sent to him did not elicit any response until publication of the story. Chaudhary will join several VCs who have quit their post in 2024 to start a new venture. In March, Nexus Venture Partners’s managing director Sameer Brij Verma left the firm to launch a multi stage fund while Peak XV’s Piyush Gupta stepped down in April to start his own VC firm. In the same month, Lightspeed’s partners Vaibhav Agrawal and Abhishek Nag put in their papers. While Agrawal is launching his own venture firm, Nag joined Mumbai-based 360 One to lead early-stage investments. Most recently, Anand Chandrasekaran left US-based VC firm General Catalysts to focus on his AI startup Crescendo.

Exclusive: Increff co-founder Romil Jain quits

EntrackrEntrackr · 9m ago
Exclusive: Increff co-founder Romil Jain quits
Medial

Romil Jain, co-founder and former Chief Technical Officer of SaaS startup Increff, has left the firm, sources aware of the development told Entrackr. “Jain left Increff late last year and he’s likely to embark on a new entrepreneurial journey,” said one of the sources requesting anonymity. Before founding Increff in 2016, Jain worked as a Chief Architect and Principal Engineer at DevFactory and Computer Associates. He co-founded Increff with Rahul Jain and Anshuman Agarwal. According to sources, Jain is expected to announce his new project soon. Increff has declined to comment on the story. This development coincides with the elevation of Vishal Raj as the new co-founder of the company. Raj, who has been with Increff for over seven years, is the current CTO of the company.

Rotoris Watches raises $3 Mn from Nikhil Kamath, Vivek Oberoi, others

EntrackrEntrackr · 5d ago
Rotoris Watches raises $3 Mn from Nikhil Kamath, Vivek Oberoi, others
Medial

Analog watch startup Rotoris has raised $3 million in a seed funding round led by Zerodha co-founder Nikhil Kamath, actor-investor Vivek Anand Oberoi, Venture Catalysts, 100 Unicorns, and Tanmay Bhat. The round also saw participation from over 30 founders, including Varun Alagh (Mamaearth), Gaurav Khatri (Noise), Siddharth Dungarwal (Snitch), Nitin Jain (OfBusiness), Vishesh Khurana (Shiprocket), Chirag Taneja (GoKwik), Akash Gupta (Zypp), and Arjun Vaidya (Dr. Vaidya’s). The proceeds will be used to strengthen manufacturing and assembly operations, upgrade engineering processes, expand supply chain partnerships, build initial inventory, and hire across product, design, and brand teams. It also plans to open its first physical experience store in New Delhi, which will function as both a retail and brand showcase space. Founded by Aakash Anand, Prerna Gupta, Anant Narula, and Kunal Kapania, Rotoris is positioning itself as an engineering-led analog watch brand with a focus on mechanical movements and in-house assembly. Anand previously scaled fragrance brand Bella Vita Organic. The firm plans to launch commercially in January 2026 with five collections: Auriqua, Monarch, Astonia, Arvion, and Manifesta. The watches will feature sapphire crystal, automatic and quartz movements, and 316L stainless steel cases. Rotoris said each model will be limited and numbered.

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