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Krafton leads Rs 29 Cr round in Shuru at Rs 135 Cr valuation

EntrackrEntrackr · 1m ago
Krafton leads Rs 29 Cr round in Shuru at Rs 135 Cr valuation
Medial

For the fiscal year ending in March 2024, Shuru reported Rs 26.84 lakh in revenue and Rs 3.31 crore in losses. It has yet to file its FY25 financials. Shuru, a location-based social networking platform, has raised Rs 29 crore in a fresh funding round, sources aware of the development told Entrackr. South Korean gaming major Krafton has acquired around 16% stake by investing Rs 21 crore in Shuru, according to sources cited above. Founded in 2021 by Mayank Bhangadia and Harsh Chhabra, Shuru has expanded its presence, reaching over 2 million active users across more than 600 cities and 8,000 sub-districts. The platform enables real-time engagement, civic participation, and support for local businesses, with the goal of connecting citizens to their neighborhoods. While Shuru had previously secured backing from investors such as Omidyar Network India, Titan Capital’s Kunal Bahl and Rohit Bansal, Eximius Ventures, and Shastra VC, the investment from Krafton is expected to support its next phase of growth and scaling. Shuru’s regulatory filing with MCA also shows that it is raising Rs 29 crore from Krafton, Omidyar Network, and Eximius Trust. As per Entrackr’s estimates, the firm will be valued at around Rs 135 crore (post money). For the fiscal year ending in March 2024, Shuru reported Rs 26.84 lakh in revenue and Rs 3.31 crore in losses. It has yet to file its FY25 financials. Krafton's interest in Shuru is part of its strategy to invest in Indian startups, reflected in its recent plans to invest over $200 million in the country's gaming and digital sectors. In August 2023, BGMI-maker Krafton committed to invest $150 million in India over the next two to three years. Some of its notable bets include Kuku FM, Cashfree, One Impression, Bobble AI, Pratilipi, and Nautilus, among others.

Swiggy to invest Rs 1,000 Cr in subsidiary Scootsy for biz expansion

EntrackrEntrackr · 4m ago
Swiggy to invest Rs 1,000 Cr in subsidiary Scootsy for biz expansion
Medial

Swiggy to invest Rs 1,000 Cr in subsidiary Scootsy for biz expansion Food delivery and quick-commerce platform Swiggy Limited has announced an investment of up to Rs 1,000 crore (approximately $117 million) in its wholly owned subsidiary, Scootsy Logistics, to support business expansion and operational growth. The decision was approved at a board meeting held on February 21, 2025, where Swiggy outlined its plan to invest the amount in one or more tranches through a rights issue, as stated in its stock exchange filing. Swiggy confirmed that the investment will be made through cash consideration, with shares priced at Rs 7,640 per share, including a premium of Rs 7,630 per share. The funds will primarily be used for working capital and other capital expenditures to strengthen the company's logistics and supply chain operations. Scootsy Logistics specializes in supply chain services and distribution, including warehouse management, order fulfillment, and last-mile delivery solutions. The company has experienced significant revenue growth over the past three years, reporting a turnover of Rs 5,795.7 crore in FY24, compared to Rs 3,686.2 crore in FY23 and Rs 1,580.3 crore in FY22. In Q3 FY25, Scootsy contributed 42% of Swiggy’s overall operating revenue. Income from this entity increased by 23% QoQ to Rs 1,692 crore in Q3 FY25 from Rs 1,377 crore in Q3 FY24. Despite the investment, there will be no change in Swiggy’s shareholding in Scootsy, and the subsidiary will continue to operate under its existing structure. Swiggy expects this investment to enhance scalability, improve delivery operations, and strengthen its competitive edge in the market.

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