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PumPumPum raises Rs 18 Cr in pre-Series A round led by LC Nueva

EntrackrEntrackr · 6h ago
PumPumPum raises Rs 18 Cr in pre-Series A round led by LC Nueva
Medial

PumPumPum, a startup in the used car leasing and now a full-stack B2B and B2B2C corporate mobility solutions provider, has raised Rs 18 crore in pre-Series A funding round led by LC Nueva along with participation from Mufin Green and Anupam Finserv. The Gurugram-based company had previously mopped up Rs 2 crore in a funding round led by Inflection Point Ventures (IPV) back in March 2024. The fresh funds will be deployed across advancing the asset-light fintech platform, expanding B2B2C employee leasing partnerships, strengthening OEM and dealer networks across new, used and EV segments, deepening presence in metro markets, and scaling technology, sales and customer success, PumPumPum said in a fresh release. Co-founded by Tarun Lawadia and Sameer Kalra, PumPumPum aims to modernise passenger vehicle leasing in India that offers leasing across new, used and electric vehicles. The company serves corporates, SMEs, MSMEs and fleet operators across major metro markets including Delhi NCR, Bengaluru, Hyderabad, Mumbai, and Chennai. According to PumPumPum, its proprietary fintech platform enables banks and NBFCs to deploy capital seamlessly through technology, while the company manages the asset lifecycle end-to-end. This includes vehicle health monitoring, maintenance, and a robust redeployment and resale infrastructure that significantly de-risks defaults that traditional leasing companies lack. Over the last six years, the company claims to have built deep operational expertise in employee leasing and business vehicle solutions. It is growing at 70% year-on-year, currently manages more than 1,000 vehicles, and has crossed Rs 100 crore in Assets Under Management (AUM). According to a market research, leasing penetration in India is under 5% whereas it is pegged at over 30% in mature global markets. PumPumPum provides certified pre-owned cars on a monthly subscription, covering all car-related hassles like maintenance, repairs, and insurance, aiming to offer costs comparable to or lower than traditional ownership. The platform uses IoT devices in cars to collect driving behavior and health data, enabling predictive maintenance and offering smart features via their app, alongside real-time credit checks.

Related News

Mobility startup Pumpumpum raises Rs 2 Cr led by IPV

EntrackrEntrackr · 1y ago
Mobility startup Pumpumpum raises Rs 2 Cr led by IPV
Medial

Fintech mobility startup Pumpumpum has raised Rs 2 crore in a new round led by Inflection Point Ventures (IPV). Previously, the startup had raised $2 million in equity from LC Nueva Investment Partners, Founders Room Capital, LetsVenture and others in June 2022. The proceeds will be used for growth in operations, geographical reach, technological advancements, marketing endeavors and overall organizational development. Founded in 2018 by Tarun lawadia and Sameer Kalra, PumPumPum works in B2B2C & B2C pre-owned car leasing model. It offers a subscription-based platform that prioritizes consumer convenience, flexibility, and affordability. Through the integration of technology and data analytics, the firm delivers an easy and personalized experience for accessibility and convenience. Earlier this month, IPV invested in edtech startup MyCaptain in its Rs 14 crore (approximately $1.7 million) new round. Its recent investments include BonV Aero, AllTrak, Onedioss, among others.

LC Nueva Unveils INR 150 Cr Fund To Tap Into Secondary Market

Inc42Inc42 · 1y ago
LC Nueva Unveils INR 150 Cr Fund To Tap Into Secondary Market
Medial

- The LC Nueva Momentum Fund will prioritize investing in successful companies from its previous fund, LC Nueva Fund, as well as secondary market transactions. - Aiming to support high-growth startups, the new fund plans to invest in 10-15 companies at Series A and Series B stages. - The LC Nueva AIF's second fund, LC Nueva Momentum Fund, is being launched almost a year after the successful closure of its first fund with a total value of INR 350 Cr. - The focus of the new fund will be on identifying and backing "winners" from its previous fund and exploring investment opportunities in the secondary market. - The investments from the LC Nueva Momentum Fund will mainly target startups experiencing rapid growth in their early-stage funding rounds.

LC Nueva Investment Partners launches new fund with target corpus of Rs 150 Cr

EntrackrEntrackr · 1y ago
LC Nueva Investment Partners launches new fund with target corpus of Rs 150 Cr
Medial

LC Nueva Investment Partners has launched the LC Nueva Momentum Fund, aiming for a target corpus of Rs 150 crore (approximately $18 million) with an additional greenshoe option of Rs 100 crore (around $12 million). This follows the successful closure of its maiden fund at Rs 350 crore, which has reported that half of its portfolio companies secured further rounds of funding, achieving an impressive nearly 57% compounded annual growth rate (CAGR) in average revenues. The new fund will support 10-15 high-growth startups in Series A and B rounds, focusing on “winners” from its previous fund and secondary market opportunities. LC Nueva Investment Partners, a collaboration between Singapore’s Lighthouse Canton and Delhi NCR-based Nueva Capital, aims to invest in companies that have shown improved operating performance and are considered high-conviction investments. The Momentum Fund’s strategy emphasizes identifying high-potential investments to deliver exceptional returns by leveraging strong relationships from its previous fund and actively pursuing secondary opportunities. In the broader venture capital landscape, early-stage firm Capital A has launched its Fund II with a target of Rs 400 crore, while z21 Ventures recently achieved the first close of its $40 million Fund II at $20 million.

Exclusive: EyeMyEye raises $2.5 Mn in a new tranche

EntrackrEntrackr · 1y ago
Exclusive: EyeMyEye raises $2.5 Mn in a new tranche
Medial

Full-stack eyewear platform EyeMyEye has raised Rs 20.8 crore (approximately $2.5 million) in a new tranche as part of its pre-series A round. The board at EyeMyEye has passed a special resolution to issue 14,44,847 pre-Series A CCPS at an issue price of Rs 143.96 each to raise Rs 20.8 crore, its regulatory filing sourced from RoC shows. RBA Finance & Investments and Ashish Ramesh Kacholia pumped in Rs 10 crore each while Sachin Shah participated with Rs 80 lakh. Following the fresh proceeds, RBA Finance and Ashish Kancholia will hold 6.22% each of the company. EyeMyEye will use these proceeds to operate the business, achieving the pre-defined milestones, and in the manner envisaged in the shareholder’s agreement, the filing added. According to the startup data intelligence platform TheKredible, the company has been valued at around Rs 162 crore or $20 million (post-money). Founded in 2021 by Ganesh Iyer, EyeMyEye offers a range of customized eyeglasses, sunglasses, and other eyewear-related products to consumers through its online and offline channels. EyeMyEye has raised around Rs 90 crore ($11 million) to date including a $5 million round led by LC Nueva AIF in August 2022. Entrackr had exclusively reported the development. EyeMyEye registered 34% year-on-year growth to Rs 32.45 crore during FY23. Moreover, the company’s losses remained steady at Rs 19.36 crore during the same period. It competes with the likes of Lenskart, ClearDekho, Cool Winks and Lens2Home, among others.

Rusk Media to raise $8.5 Mn in Series B

EntrackrEntrackr · 10m ago
Rusk Media to raise $8.5 Mn in Series B
Medial

Rusk Media, a digital entertainment company, is raising Rs 74 crore (approximately $8.5 million) in its Series B round led by Woori Venture Partners, with the participation of New Emerging Technologies Fund, LC Nueva Investment Partners, and other investors. The board at Rusk Media has passed a special resolution to issue 11,663 Series B compulsory convertible preference shares at an issue price of Rs 63,493 each to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. Woori Venture Partners will lead the round with an investment of Rs 26 crore, while New Emerging Technologies Fund, LC Nueva Investment Partners, and Yashaa Global Capital will contribute Rs 16.5 crore, Rs 15 crore, and Rs 10 crore, respectively. The remaining amount will be collectively invested by Info Edge, LetsVenture, and Nodwin Gaming. As per filings, the funds would be utilized for growth and working capital needs in line with the company's business plan. A separate filing reveals that Rusk Media's board has approved a resolution to expand its ESOP plan with 2,828 employee stock options worth Rs 18 crore and its MSOP plan with 5,656 management stock options valued at Rs 35.9 crore. The company has raised around $20 million to date, including its $9.5 million Series A led by DAOL Investment and Audacity Ventures. According to Entrackr’s estimates, the company will be valued at around Rs 468 crore or $54 million post-allotment. The New Delhi-based company is known through its content and IPs on social channels Alright! and Playground with over 500 million monthly views, and their shows on OTT platforms. Rusk Media has recorded a 40.6% yearly growth in its revenue to Rs 56.8 crore in the previous fiscal year (FY24). At the same time, the firm’s losses were reduced by 56% to Rs 28.7 crore.

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