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Exclusive: Onsurity raises over $26 Mn in new round led by Creaegis

EntrackrEntrackr · 1y ago
Exclusive: Onsurity raises over $26 Mn in new round led by Creaegis
Medial

Employee healthcare platform Onsurity has raised Rs 219 crore or $26.4 million in a new round led by Creaegis, with the participation of existing investors Nexus Venture Partners and Quona Capital. The board at Onsurity has passed a special resolution to issue 10 equity and 6,302 series B1 CCPs at an issue price of Rs 3,48,089 each to raise Rs 219 crore or $26.4 million, its regulatory filing accessed for the Registrar of Companies (RoC) shows. Creaegis spearheaded the round with Rs 176.4 crore while existing investors Nexus Ventures and Quona Capital injected Rs 31.4 crore and Rs 11.9 crore, respectively. The company will use proceeds for growth, expansion, working capital requirements and general corporate purposes, as decided by the board. According to the startup data intelligence platform TheKredible, OnSurity has been valued at around Rs 1,032 crore or $124 million post-allotment. Following the fresh proceeds, Creaegis will hold 17.10% of the company while Nexus and Quona will command 28.22% and 12.82%, respectively. Founded in 2020 by Yogesh Agarwal and Kulin Shah, Onsurity offers subscription-based services that its customers can purchase and offer it to their full-time employees, contractors, interns and consultants. The company, through its subsidiary, offers business products including cyber insurance, D&O liability insurance, and commercial general liability insurance, among others. Onsurity has raised over $66 million to date including $24 million Series B round in October last year, and $16 million Series A in August 2021. Creaegis, the lead investor, recently closed its inaugural fund of about $426 million to support Indian startups. Its investment portfolio includes companies like Third Wave Coffee, Doceree, Medikabazaar, Zopper, and Kale Logistics.

Mozark raises $40 Mn in Series B round led by IFC and RMB Capitalworks

EntrackrEntrackr · 6d ago
Mozark raises $40 Mn in Series B round led by IFC and RMB Capitalworks
Medial

Mozark raises $40 Mn in Series B round led by IFC and RMB Capitalworks Digital experience testing and measurement company Mozark has raised $40 million in Series B funding round led by IFC (International Finance Corporation) and RMB Capitalworks, with participation from Kalaari Capital. The startup had previously secured $10 million from VentureSoul Partners, BlackSoil, and others. The proceeds will be utilized for global expansion and strategic acquisitions, Mozark said in a press release. Co-founded in 2019 by Chandrasekar Ramamoorthy, Kartik Raja, and Fabien Ranaudineau, Mozark helps enterprises, telecom operators, public-sector organizations, and regulators run real-world digital experience tests at scale. By executing scripted critical user journeys on real devices across real networks and locations, Mozark generates synthetic experience telemetry to pinpoint performance gaps across the AI-native full stack—from applications and AI systems to the infrastructure that powers them. It supports sovereignty-ready deployments. Mozark currently serves over 50 enterprise and government clients across more than 20 countries, including regulators, telecom operators, financial institutions, and global digital-native organizations. Its deployments run concurrently on several thousand live devices, having already executed over 25 million tests supporting benchmarking and user-experience assurance analytics at scale.

EV startup Kazam raises $6.2 Mn from IFC, Vertex and Avaana Capital

EntrackrEntrackr · 8m ago
EV startup Kazam raises $6.2 Mn from IFC, Vertex and Avaana Capital
Medial

EV startup Kazam raises $6.2 Mn from IFC, Vertex, and Avaana Capital Bengaluru-based EV energy-tech platform Kazam has raised $6.2 million in Series B funding from the International Finance Corporation (IFC), along with existing investors Vertex Ventures Southeast Asia & India and Avaana Capital. This round takes Kazam’s total capital raised to $19.2 million, including $13 million in equity from previous rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures. The investment will fuel Kazam’s expansion across markets with its energy transition tools to accelerate adoption of sustainable mobility, the company said in a press release. Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is building a device-agnostic digital infrastructure platform that enables EV charging and battery-swapping operators, vehicle OEMs, fleets, and power utilities to manage and analyze charging assets. Kazam’s platform claims to have onboarded over 68,000 chargers and facilitated over 5 million charging sessions. The firm also saw its revenue grow 4X from $1.5 million in FY24 to $6 million in FY25 and is targeting $12 million in revenue with EBITDA positivity this fiscal. Kazam works with the likes of BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette.

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