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Semiconductor startup C2i Semiconductors raises $15 Mn led by Peak XV

EntrackrEntrackr · 5d ago
Semiconductor startup C2i Semiconductors raises $15 Mn led by Peak XV
Medial

Semiconductor startup C2i Semiconductors raises $15 Mn led by Peak XV Semiconductor startup C2i Semiconductors has secured $15 million in a funding round led by Peak XV Partners, with participation from Yali Deeptech and TDK Ventures. The Bengaluru-based startup had previously raised $4 million from deeptech venture fund Yali Capital in November 2024. The proceeds will be used to support global expansion, set up a US office to be closer to customers and key decision-makers, and later build an applications and systems engineering team in Taiwan, the company said in a press release. Co-founded in June 2024 by Ram Anant, Vikram Gakhar, Preetam Tadeparthy, Dattatreya Suryanarayana, Harsha S B, and Muthusubramanian N V, C2i Semiconductors is developing power management solutions for AI data centres and cloud infrastructure. The company is targeting system-level innovations that rethink how power flows from the grid to the processor core. C2i plans to move quickly from design to silicon. Its first product is scheduled for tapeout in April, followed by a second product in July. One chip will be manufactured at Tower Semiconductor in Israel, while the other will be fabricated at GlobalFoundries, either in Singapore or Dallas. According to market research, AI infrastructure capex is expected to reach $500–600 billion over the next 12–18 months and could grow to $1 trillion by 2030. C2i claims its system-level architecture can recover 8–10% efficiency, improve GPU performance by about 3%, and significantly extend server lifetimes. A 10% efficiency gain can translate into nearly 1 kW saved per server tray, adding up to hundreds of kilowatts across large deployments, directly improving return on investment for operators. The company said it is already in discussions with three to four enterprise server customers to define components for their next-generation platforms and is targeting global enterprise players.

VoltUp raises $8 Mn in seed funding round

EntrackrEntrackr · 1y ago
VoltUp raises $8 Mn in seed funding round
Medial

VoltUp, a mobility-as-a-service (MaaS) platform and battery-swapping startup, has raised $8 million (Rs 67 crore) in a seed funding round, comprising equity and debt, which was led by EM Impact Capital. The Mumbai-based company had previously raised $10 million in the pre-seed round, bringing the total fund raised to $18 million with participation from prominent Family Office, HDFC Bank, cKers, Grip Invest and GetVantage. Founded in 2019 by Siddharth Kabra, VoltUp is a battery-swapping platform that is designed for electric 2-wheelers and 3-wheelers. Operating in 14 cities, VoltUp’s technology-first approach integrates AI and data analytics to optimize station locations, monitor battery performance in real-time, and predict user demand, offering a safer, more efficient, and time-saving alternative to traditional charging. With a core focus on safety, health, and efficiency (SHE), VoltUp claims to deliver a more sustainable mobility experience, making densely populated cities smarter and more connected. Through its Mobility-as-a-Service (MaaS) network, the startup empowers delivery agents, gig workers, and small businesses with reliable electric 2-wheelers powered by proprietary swappable battery technology. VoltUp plans to accelerate its MaaS offerings, integrating seamlessly with multiple electric vehicle platforms for two- and three-wheelers. It claims that its revenue has grown by over 4 times in the last 12 months and plans to deploy 1,000 new battery-swapping stations across 20 urban centres, supporting a growing customer base while promoting EV adoption and reducing range anxiety. Over the next two years, VoltUp aspires to invest in assets worth over $85 million, including swapping stations, batteries, and expanding the MaaS platform leading to additional job creation and bolstering India’s transition to sustainable mobility.

Awfis CFO Ravi Dugar resigns; Sumit Rochlani to take over

EntrackrEntrackr · 1m ago
Awfis CFO Ravi Dugar resigns; Sumit Rochlani to take over
Medial

Awfis CFO Ravi Dugar resigns; Sumit Rochlani to take over Awfis Space Solutions has announced the resignation of its Chief Financial Officer Ravi Dugar, who will step down on February 2, 2026, to pursue other career opportunities. Dugar will continue in the role until his last working day to ensure a smooth transition, the company said in a regulatory filing. The board has approved the appointment of Sumit Rochlani as the new CFO effective February 3, following recommendations from the nomination and remuneration committee and approval of the audit committee. Rochlani is a chartered accountant with over 14 years of experience across audit, controllership, financial planning and analysis, corporate finance, and indirect taxation. He earlier served as Head of Finance at Awfis from May 2020 to May 2022. Rochlani was previously associated with Boeing for over six years before January 2020 and later rejoined the aerospace major for another three years and ten months, before returning to Awfis. The leadership change comes at a time when Awfis reported a sharp decline in profitability in Q2 FY26 despite revenue growth. The company’s revenue from operations rose 25.5% year on year to Rs 366.9 crore during the quarter, supported mainly by its coworking business. However, net profit fell nearly 60% to around Rs 16 crore as expenses, including depreciation and finance costs, rose at a faster pace. Separately, Awfis said its nomination and remuneration committee has approved the grant of 10,000 employee stock options under its ESOP 2024 scheme. The options carry an exercise price of Rs 345.73 per share, about 30% lower than the previous day’s closing price, and are convertible into equity shares of face value Rs 10, which are worth around Rs 35 lakhs. The board has also authorised the CFO as a key managerial personnel to determine the materiality of events and ensure disclosures under SEBI’s listing regulations.

Exclusive: Swiggy to raise Rs 5,000 Cr via fresh issue

EntrackrEntrackr · 1y ago
Exclusive: Swiggy to raise Rs 5,000 Cr via fresh issue
Medial

Swiggy, the food delivery and quick commerce firm, is set to raise Rs 5,000 crore ($602 million) in a fresh issue as part of its initial public offering (IPO). The Prosus-funded company has already targeted Rs 6,664 crore through an offer for sale (OFS), with plans to seek board approval for the OFS in the first week of next month. According to an internal document accessed by Entrackr, Swiggy’s board has passed a special resolution to issue equity shares worth up to Rs 5,000 crore, subject to shareholder approval at a meeting (EGM) on October 3. Swiggy’s IPO has been anticipated since the company filed draft papers confidentially in April. Reports suggest the firm has also received shareholder approval to raise Rs 10,400 crore in total (Rs 3,750 crore via a fresh issue and Rs 6,664 crore through an OFS). However, Swiggy’s IPO size may vary, as the fresh issue mentioned in the latest resolution is 1.3X larger than the previously estimated Rs 3,750 crore. The Bengaluru-based company is expected to file its draft red herring prospectus (DRHP) with SEBI soon. Queries sent to Swiggy did not elicit a response by the time of publication. Ahead of the IPO, Swiggy secured strategic investments from Amitabh Bachchan’s Family Office and Hindustan Composites. Meanwhile, investor Baron Capital recently valued Swiggy at $14.5 billion. The food tech firm demonstrated strong financial growth with 36% year-on-year growth in revenue to Rs 11,247 crore in FY24 and cut its losses by 44% to Rs 2,350 crore in the same period. Swiggy’s food business contributed Rs 6,100 crore to its overall income, while its quick commerce arm, Instamart, generated Rs 1,100 crore in gross revenue in FY24. To compete with rivals like Zepto and Zomato’s Blinkit, Swiggy invested $700 million in quick commerce in December 2021. Last month, the Sriharha Majety-led firm also roped in a new chief executive and new chief operating officer for Instamart. Following a series of startup IPOs from Delhi NCR, Bengaluru is catching up in 2024. A few city-based companies, including Digit Insurance and Ola Electric, have already made their stock exchange debuts this year. Besides Swiggy, Bengaluru-based Ather Energy also submitted its draft IPO papers on Monday, with its largest stakeholder, Hero MotoCorp, opting not to participate in the OFS.

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