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Physis Capital crosses Rs 200 Cr in funding

EntrackrEntrackr · 8m ago
Physis Capital crosses Rs 200 Cr in funding
Medial

Physis Capital crosses Rs 200 Cr in funding Physis Capital, the growth-stage venture fund launched by Vinay Bansal, Ankur Mittal, and Mitesh Shah of Inflection Point Ventures, has raised over Rs 200 crore ($23 million) in its ongoing fundraise. According to the company, the final close is expected within the next 6 to 9 months. The fund focuses on tech-driven startups from Pre-Series A to Series B and aims to build a concentrated portfolio of 15–20 companies. It will invest $1–1.5 million initially, with follow-on cheques of $1–4 million for high-performing portfolio companies. Physis Capital has already backed three startups Ben & Gaws, CTPL, and STAGE and has 8 more deals in the pipeline, with 3–4 expected to close in the next two quarters. The fund has seen participation from leading institutions and family offices including SUD Life, Haldiram’s Family Office, Lotus Holdings, and Narayana Nethralaya. “With strong support from marquee investors and a clear focus on founder-first investing, Physis Capital is well-positioned to back the next wave of high-impact startups in India. We are on track to build a portfolio of over 15 companies by the first half of next year,” said Vinay Bansal, General Partner, Physis Capital. In March 2022, angel investment platform Inflection Point Ventures (IPV) had announced the launch of its $50 million new fund Physis Capital with a green shoe option of another $25 million. Later in May 2023, Physis Capital announced its first close of CAT II $50 million fund.

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Physis Capital marks second investment of Rs 5 Cr in CTPL

EntrackrEntrackr · 1y ago
Physis Capital marks second investment of Rs 5 Cr in CTPL
Medial

Admissions as a service platform Creanovation Technologies Pvt. Ltd (CTPL) has raised Rs 5 crore from growth-stage focused Physis Capital. This is the second investment by the $50 million fund. Earlier this year, the fund invested in Ben & Gaws. Founded by Bikash Sahoo, CTPL features customizable workflows, CRM-driven lead management, and AI-powered decision-making for more efficient admissions. Beyond admissions, CTPL’s NextGen Academy offers industry-collaborative courses to prepare students for the future job market. It helps educational institutions increase revenue and improve overall efficiency. The Gurugram-based startup claims to have doubled its revenue year on year for the past three years, while remaining profitable and is set to enter international markets this year. CTPL has raised a total of $4 million in a mix of dilutive and non-dilutive capital in this round. Physis Capital, the venture capital fund established by the team behind Inflection Point Ventures (IPV), is known for investing in companies like Bharat Pe, Blusmart, VideoVerse, Milkbasket, Samosa Party, Stage, and Otipy. It targets startups from pre-Series A to Series B.

Power2SME gross revenue crosses 1,000 Cr in FY23; cuts losses

EntrackrEntrackr · 1y ago
Power2SME gross revenue crosses 1,000 Cr in FY23; cuts losses
Medial

B2B e-commerce platform Power2SME has demonstrated decent growth with better unit economics as reflected in its top and bottom lines in the fiscal year ending March 2023. While it managed a 50% growth in gross margin in FY23, the company also reduced losses by 9% as it slashed employee benefits among other costs. Power2SME’s gross revenue spiked to Rs 1,056 crore in FY23 from Rs 703 crore in FY22, its consolidated financial statements filed with the Registrar of Companies (RoC) show. Power2SME provides raw materials such as steel, chemicals, inks, paints, metals, polymers along with financial services to SMEs to fulfill their capital needs through its subsidiary entities. Income from the sale of goods contributed 99% of the total gross revenue whereas the rest of the collections came from interest and finance (operating). The company also made Rs 6 crore from interest on current and non-current investments (non-operating) which took its total revenue to Rs 1,063 crore in FY23. For the e-commerce platform, the cost of procurement comprised 93.4% of the total expenditure. Tracking the growth in scale, this cost grew by 49.6% to Rs 1,019 crore in FY23 from Rs 681 crore in FY22. Its employee benefits, insurance, legal/professional, advertising, finance, and other overheads took the overall expenditure to Rs 1,091 crore in FY23 from Rs 740 crore in FY22. View TheKredible for the complete expense breakdown. The decent acceleration and cost control enabled Power2SME to reduce its losses by 9% to Rs 28.5 crore in FY23. Its ROCE and EBITDA margin improved to -10% and -0.6% respectively. On a unit level, it spent Rs 1.03 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -3% -0.6% Expense/₹ of Op Revenue ₹1.05 ₹1.03 ROCE -24% -10% Power2SME last raised its equity round of $36 million in January 2018 and has raised around $80 million to date. According to startup data intelligence platform TheKredible, Accel is the largest stakeholder with 26.1% followed by Kalaari Capital and Inventus Capital. Its co-founder and CEO Narayan Ramaswamy commands 12.17% of the company at the moment. With its last funding round in 2018, Power2Sme is certainly straining to deliver on its promise, and the current growth momentum should necessitate a round of funding soon. That it hasn’t yet gone for the most obvious growth hack, i.e., lending to its users is interesting, and might just be the next focus area yet. But the significant scale and operating breakeven suggests big things soon at the firm. We are betting you will find yourself back here soon enough to read an important update on the firm.

Chaayos crosses Rs 300 Cr revenue in FY25; EBITDA jumps 6.5X

EntrackrEntrackr · 18d ago
Chaayos crosses Rs 300 Cr revenue in FY25; EBITDA jumps 6.5X
Medial

After flat growth in FY24, Chaayos rebounded in FY25, posting 25% revenue growth to cross Rs 300 crore, while cutting losses by 53% and boosting EBITDA 6.5 times. After flat revenue growth in FY24, tea café chain Chaayos staged a strong comeback in the fiscal year ended March 2025 and posted 25% revenue growth to cross the Rs 300 crore mark. During the same period, the company narrowed its losses by 53%, while EBITDA jumped 6.5 times. Chaayos’ revenue from operations grew by 25% to Rs 310.6 crore in FY25 from Rs 248.6 crore in FY24, according to its consolidated financial statement filed on the Registrar of Companies (Roc). Founded in 2012 by Nitin Saluja and Raghav Verma, Chaayos sells a variety of teas and other snacks and beverages with dine-in, takeaways, and online ordering facilities. It has over 200 outlets across Delhi-NCR, Mumbai and Bengaluru. The company is aiming to have 400 outlets by next year. The sale of teas, snacks, and beverages remained the firm’s primary revenue source. Sales of manufactured goods accounted for over 96% of total revenue at Rs 300 crore, while sales of traded goods stood at Rs 9.5 crore. The company generated Rs 19.1 crore from non-operating income, which took its total income to Rs 329.7 crore in the last fiscal year. On the expense front, Chaayos’ largest cost component, the cost of materials, rose 26% year-on-year to Rs 96.32 crore in FY25. Employee benefits expenses declined marginally by 3% to Rs 78.65 crore. Other major costs included depreciation and amortization at Rs 51.8 crore and commissions, which increased 21% to Rs 31.3 crore. Finance cost and expenses were recorded at Rs 29.42 crore and Rs 14.55 crore respectively. Other expenses, including power & fuel, legal & professional, travelling expenses added another Rs 53 crore to total expenses for the firm, which increased 9% to Rs 355 crore in FY25. A 25% increase in revenue from operations, along with tighter cost control across verticals, helped Chaayos cut its losses by 53% to Rs 25.4 crore in FY25. The company also posted a sharp improvement in profitability, with EBITDA rose nearly 6.5X to Rs 37 crore, while ROCE and EBITDA margin improved to -3.72% and 11.85%, respectively. On a unit basis, the company spent Rs 1.14 to earn one rupee of operating revenue in FY25. As of March 2025, the Tiger Global–backed firm reported current assets of Rs 155.7 crore, which included Rs 17 crore in cash and bank balances. Chaayos has raised over $90 million across multiple funding rounds, including its $45 million Series C round in June 2022 led by Alpha Wave, with participation from Elevation Capital, Tiger Global, and Think Investments.

Fibe crosses Rs 1,200 Cr revenue in FY25; profit spikes 13%

EntrackrEntrackr · 10d ago
Fibe crosses Rs 1,200 Cr revenue in FY25; profit spikes 13%
Medial

Fibe crosses Rs 1,200 Cr revenue in FY25; profit spikes 13% In the fiscal year ending March 2025, the consumer lending firm Fibe reported nearly 50% growth in operating revenue to over Rs 1,200 crore, while profit also rose in double digits. Fibe, formerly EarlySalary, recently raised $35 million in a Series F round led by the International Finance Corporation. The impact of this funding will likely reflect in FY26. In the fiscal year ending March 2025, the consumer lending firm reported nearly 50% growth in operating revenue to over Rs 1,200 crore, while profit also rose in double digits. Fibe’s revenue from operations grew 49% year-on-year to Rs 1,228 crore in FY25 from Rs 824 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Co-founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe provides personal loans, long-term loans, loans against mutual funds, and fixed deposits across healthcare, education, and solar rooftop installations. It claims to have facilitated more than 9 million loans, with total disbursements exceeding Rs 40,000 crore through over 8,500 lenders. Interest on loans was the largest revenue contributor for Fibe, with over 80% share of its total operating revenue. This income rose 46% in FY25 and crossed the Rs 1,000 crore mark. The company also earned servicing fee income for managing loan collections and administration on behalf of lending partners. It has partnered with several banks and NBFCs, including Northern Arc Capital, InCred Finance, Tata Capital, and many others. Income from guarantee premium, i.e., fees earned for providing default protection to lending partners, also stood at Rs 104 crore for Fibe and grew 83% year-on-year. The remaining revenue came from marketing income, commission income, and other operating sources. Fibe also earned around Rs 41 crore from non-operating sources such as interest income and gains on the sale of current investments, and this took its total income to Rs 1,269 crore in the last fiscal year. For the consumer lending company, finance cost formed the largest cost centre, with over 62% share of the total expenditure, and stood at Rs 691 crore in FY25 for Fibe. This cost rose 85% year-on-year from Rs 373 crore in FY24. Notably, it included Rs 257 crore towards loan write-offs and Rs 207 crore as loss on guarantees invoked. Advertising and promotional expenses, another major cost centre for Fibe, stood at Rs 128 crore in FY25. Employee benefit expenses, which accounted for under 10% of the total cost, rose 34% to Rs 111 crore, including Rs 9.2 crore of ESOP expenses. Commission paid to selling agents, legal & professional, travelling and other miscellaneous overheads took the overall expenses for the firm to Rs 1,112 crore in FY25 from Rs 706 crore in FY24. Higher non-operating income, which rose from Rs 18 crore to Rs 41 crore, helped the Pune-based firm post a 13% increase in profit to Rs 114 crore. Fibe spent Rs 0.91 to earn one rupee of operating revenue on a unit basis. As of March 2025, it had total current assets of Rs 3,135 crore, which includes cash and bank balance of Rs 259 crore. Fibe has raised over $265 million to date, including a $90 million Series E round led by TR Capital, Trifecta Capital, and Amara Partners. In August last year, Fibe also raised Rs 250 crore in debt for its lending arm, EarlySalary, from a group of investors including AK Capital Finance.

Artha Select Fund closes at Rs 432 Cr; AUM crosses Rs 1,200 Cr

EntrackrEntrackr · 6m ago
Artha Select Fund closes at Rs 432 Cr; AUM crosses Rs 1,200 Cr
Medial

Artha India Ventures (AIV) has closed its follow-on fund, Artha Select Fund (ASF), at Rs 432 crore, 131% above its Rs 330 crore target. With this, Artha’s total Assets Under Management have crossed Rs 1,200 crore. ASF will invest in the top 15% of performers from Artha’s existing portfolio of over 135 companies across Artha Venture Fund I, Artha Continuum Fund, and the soon-to-launch AVF II. The fund will write Series B and C cheques of around Rs 20 crore each, for 12–14 winners over the next four years. With 33 exits to date, Artha claims to have built a proven track record of identifying and nurturing category leaders. ASF creates a capital bridge from early-stage to growth, addressing India’s “missing middle” funding gap where many Series A–C companies stall due to limited capital and a lack of operational support. According to Artha, Indian family offices and ultra-high-net-worth individuals anchor 80% of the fund’s capital, with the remaining 20% from global LPs in Singapore, UAE, Mauritius, Hong Kong, Africa, and the U.S. Sponsor AIV has committed nearly 10% of the fund. ASF’s roster of backers includes household names such as Atul Kirloskar’s Family Office, DSP Family Office, Shahi Exports, HIRA Group, and Anikarth Ventures. “ASF allows us to stay invested in our most promising companies well into their scale-up phases,” said Anirudh A. Damani, Managing Partner of Artha Venture Fund & Artha Select Fund. “India has no shortage of promising ventures, but far too many face a capital drought between Series A and C. ASF ensures our winners have the firepower, strategic guidance, and operational backing to compete globally while preserving founder ownership and focus.” Artha, through its various funds, has backed startups such as OYO, Rapido, Purplle and Leverage Edu. Under the new fund, it has so far evaluated six companies and selected only spacetech startup Agnikul Cosmos, with an investment commitment of Rs 20–40 crore.

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr

EntrackrEntrackr · 1y ago
Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr
Medial

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr Treebo Hotels, a premium-budget hotel chain, crossed the Rs 100 crore revenue milestone in the fiscal year ending March 2024. Despite this growth, the Bengaluru-based company saw its losses rise by 17%, bringing total outstanding losses to Rs 488 crore. Treebo Hotels’s revenue from operations grew 22.5% to Rs 109 crore in FY24 from Rs 89 crore in FY23, its consolidated financial statements filed with the Registrar of Companies show. Income from accommodation services (taken on lease and managed properties) formed 95% of the total operating revenue which increased by 22.3% to Rs 104 crore in FY24 from Rs 85 crore in FY23. The rest of the income comes from the sale of products, and subscription services. The company also added Rs 7.22 crore as other income (non-operating) which tallied its overall revenue to Rs 116 crore in FY24 from Rs 94 crore in FY23. Treebo spent 41% of its overall expenditure on employee benefits which increased marginally by 7% to Rs 59 crore in FY24. Its cost and commission surged 70% and 48% to Rs 17 crore and Rs 43 crore in the previous fiscal year. Its cost of materials, legal, technology, traveling, and other overheads took the overall cost up by 22% to Rs 144 crore in FY24 from Rs 118 crore in FY23. The increased advertising and commission costs led Treebo to raise its losses by 16.7% to Rs 28 crore in FY24, compared to Rs 24 crore in FY23. Its ROCE and EBITDA margin stood at -540% and -18.1% respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY24. The company’s total current assets stood at Rs 34 crore with cash and bank balances of Rs 7 crore in the previous fiscal. According to startup data intelligence platform TheKredible, decade-old Treebo has secured Rs 566 crore (approximately $70 million) in funding from investors including Accor, Elevation Capital, Matrix Partners, and Bertelsmann. The company’s most recent major funding, amounting to $16 million, was raised in June 2021. Treebo competes directly with Bloom Hotels and FabHotels. In FY24, Bloom Hotels saw its operational revenue rise by 73.6% to Rs 250 crore, with a profit of Rs 14 crore. FabHotels recorded Rs 224 crore in operating revenue for FY23 but has not yet filed its FY24 annual report.

Glance crosses Rs 600 Cr revenue in FY24 with improved economics

EntrackrEntrackr · 1y ago
Glance crosses Rs 600 Cr revenue in FY24 with improved economics
Medial

Consumer technology company Glance has demonstrated impressive financial performance over the past two fiscal years (FY23 and FY24) registering a 3.4X growth from Rs 178 crore or $22 million in FY22 to Rs 614 crore or $73.1 million during the fiscal year ending March 2024. Glance’s revenue from operations grew 89% year-on-year to Rs 614 crore in FY24 from Rs 325 crore in FY23, according to its consolidated financial statements filed by the group’s holding entity in Singapore. Launched in 2019, Glance which is part of InMobi's ecosystem, is known for its AI-powered smart lock screen platform that transforms the way users engage with their smartphones. It has a user base of over 300 million. It brings together other consumer platforms like Roposo (shoppertainment) and Nostra (gaming) Advertising services contributed 54.7% of total revenue, growing by 35.7% to Rs 336 crore in FY24 from Rs 248 crore in FY23. Revenue from the commerce (shoppertainment) segment stood at Rs 254 crore. Glance also earned Rs 15.9 crore from financial income (interest) which tallied the overall revenue to Rs 640 crore in FY24. Like many technology startups, employee benefits were the largest cost driver for Glance, accounting for 28.28% of its total expenses. This cost saw a marginal increase, rising to Rs 444 crore in FY24 from Rs 424 crore in FY23. It includes Rs 71.4 crore as ESOP cost. Glance’s shipping, marketing/selling, and infrastructure costs stood at Rs 200 crore, Rs 436 crore and Rs 201 crore, respectively. Software, publisher, legal, and travel are some other overheads that took the overall burn to Rs 1,569 crore in FY24 from Rs 1,448 crore in FY23. The decent scale and controlled expenditure helped Glance to reduce its losses by 15% to Rs 929 crore in FY24 from Rs 1,094 crore in FY23. Notably, this marks the first fiscal year in which the company narrowed losses. Its ROCE and EBITDA margin stood at -1191% and 134.9% respectively. On a unit level, it spent Rs 2.55 to earn a rupee in FY24. Glace has raised around $390 million and was valued at $1.6 billion in its last round of $200 million led by the Jio Platform in 2022. According to the startup data intelligence platform TheKredible, Jio Platform is the largest external stakeholder with 20.27% followed by Google which owns 10.13%. Its parent company InMobi commands 50.45% of the company. Glance’s current assets stood at Rs 428 crore. As per the Fintrackr estimates, its enterprise value to revenue multiple was 21.8X.

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