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Sugar.fit raises $5 Mn more in Series A led by B Capital

EntrackrEntrackr · 1y ago
Sugar.fit raises $5 Mn more in Series A led by B Capital
Medial

Sugar.fit, a healthtech focused on type 2 diabetes and prediabetes, has raised $5 million more in its Series A round led by B Capital with participation from MassMutual Ventures and existing investors including Tanglin Venture Partners, Endiya Partners, and Cure.fit (now Cult.fit). In October last year, the startup had raised $11 million in its Series A round led by MassMutual Ventures. The new capital will be used to expand Sugar.fit’s technology stack and product range, increase brand presence, and speed up research and development in diabetes management, the company said in a press release. Founded by Madan Somasundaram, Sugar.fit offers a diabetes care program that combines innovative technology with personalized human interventions. Diabetes doctors and nutritionists use devices such as continuous glucose monitors, fitness trackers, and health diagnostics to monitor the real-time impact of users’ lifestyles on their glucose levels. In the last 18 months, the brand claims to have witnessed significant growth in paid subscribers, currently serving more than 30,000 users on its platform. The brand has also established an omnichannel presence, starting in Bengaluru, and now operates seven diabetes clinics with doctors in diabetes care across the city.

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D2C luggage brand uppercase raises $9 Mn led by Accel

EntrackrEntrackr · 10m ago
D2C luggage brand uppercase raises $9 Mn led by Accel
Medial

D2C luggage brand Uppercase (Acefour Accessories) has raised $9 million in a Series B round led by venture capital firm Accel. As per uppercase, it has raised the new round at a post money valuation of $60 million. In 2022, the company had raised $7 million in apPre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners. The funding will support business expansion, aiming to increase its customer base across India, uppercase said in a press release. Founded by Sudip Ghose, uppercase sells travel gear online and through 1,800 multi-brand stores across India. Its products are priced in the range of Rs 3,500-5,000. The Mumbai-based company aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, uppercase also competes with Assembly, Nasher Miles and EUME. While Nasher miles raised $4 million in July, EUME bagged $1.7 million in June. As per startup data intelligence platform TheKredible, uppercase reported an operating revenue of Rs 10.65 crore in FY23 with Rs 21 crore loss. The company is targeting to more than double its revenue to Rs 150 crore by FY25, up from Rs 70 crore in FY24.

Eloelo kicks off Series B round with $13 Mn

EntrackrEntrackr · 2m ago
Eloelo kicks off Series B round with $13 Mn
Medial

Social gaming and live streaming platform Eloelo is raising Rs 114 crore (approximately $13 million) in its Series B round led by Play Ventures Investments with participation from Gameskarft Technologies, Kalaari Capital, and WestBridge Capital. The board has passed a resolution to issue 1,696 Series B compulsory convertible preferred shares at Rs 6,73,997 each to raise the funds, according to a regulatory filing. Play Ventures is investing Rs 34.7 crore, Gameskraft Technologies Rs 21.7 crore, WestBridge Capital Rs 8.7 crore, and Kalaari Capital Rs 13 crore. Additional investments are being made by Countryside Ventures, Rocket Capital, MIXI Global, and Veenita and Vinay Mittal. Eloelo has raised over $50 million to date, including a $22 million pre-series B round co-led by Courtside Ventures and Griffin Gaming Partners. Post-transaction, Play Ventures will hold 3.38%, Countryside Ventures 4.46%, Gameskraft 2.12%, and Kalaari Capital 6.35%. Founded by Saurabh Pandey and Akshay Dubey, Eloelo offers live games and entertainment with native activities like tambola and antakshari. It features over 50 live games and more than 1,000 daily live streams. The social gaming and live streaming space in India is evolving with platforms like Loco, Rooter, and Turnip in gaming, while Chingari, ShareChat, and Bolo Live expand into live and casual gaming.

Battery tech startup Lohum raises $23 Mn in ongoing Series B

EntrackrEntrackr · 1y ago
Battery tech startup Lohum raises $23 Mn in ongoing Series B
Medial

Battery pack manufacturing and recycling startup Lohum Cleantech has raised $23 million in its Series B round led by Baring Private Equity Partners. This round materialized in August last year and seems to be an ongoing one as the firm is likely to raise more capital. The round also saw the participation of Cactus Partners, Chhattisgarh Investment Limited, Ventureast Proactive Fund, Michael B Schwab Living Trust, Singularity Growth, Stride Ventures, and several angel investors including, Anish Vora, Kunal Babani, Manas Tondon, et al. The board at Lohum has passed a special resolution to issue 1,993 Series B1 CCPS at an issue price of Rs 9,42,467 each to raise Rs 188 crore, its regulatory filing sourced from the Registrar of Companies shows. Baring Private Equity led the round with Rs 70 crore while Cactus Partners and Ventureast Proactive Fund poured in Rs 30 crore and Rs 32 crore, respectively while the rest came from other investors. The seven-year-old company will use these funds to meet capital expenditures, marketing, and general corporate business as decided by the board of directors, the filing added. Following the fresh proceeds, Baring Equity holds 5% of the company while Cactus Partners and Ventureast Proactive Fund command 3.1% and 3.2% stake respectively. As per startup data intelligence platform TheKredible, the company has been valued at around Rs 2,188 crore or $267 million post-allotment. Lohum is a battery pack producer that constructs lithium-ion batteries by assembling cells sourced from various countries, including China and Taiwan. These batteries find application in electric vehicles (EVs) and stationary energy storage solutions (ESS), such as those utilized in telecommunication towers. The company had previously raised $7 million in January 2021 and it was reportedly in talks to raise $100 million in Series B round. Lohum showed an impressive financial performance surging its revenue 2.9X year-on-year to Rs 308 crore in FY23 from Rs 106 crore in FY23. The company also posted a profit of Rs 8.88 crore in the same period.

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