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Defence electronics startup Sanlayan raises Rs 186 Cr in Series A

EntrackrEntrackr · 21d ago
Defence electronics startup Sanlayan raises Rs 186 Cr in Series A
Medial

News Article: Defence electronics startup Sanlayan raises Rs 186 Cr in Series A Sanlayan specializes in the design and development of advanced electronic systems, including radar, electronic warfare, and mission-critical avionics. Aerospace and defence startup Sanlayan Technologies has raised Rs 186 crore ($22 million) in its Series A funding round led by marquee investors Ashish Kacholia, Lashit Sanghvi, and Jungle Ventures, with participation from existing investors Gemba Capital, Singularity Ventures, and new investor Shastra VC. With the fresh funding, Sanlayan plans to increase its engineering headcount fivefold in the next six months. According to the startup, it is actively hiring domain experts, R&D scientists, retired armed forces veterans, and senior leadership from both public sector undertakings and private defence giants. Founded by former Zetwerk employees Abhijit Kothawale, Rohan Gala, and Rahul Vamsidhar, Sanlayan specializes in the design and development of advanced electronic systems, including radar, electronic warfare, and mission-critical avionics. The startup raised $4.4 million in its seed round in March last year from prominent institutional investors, including First Cheque, Gemba Capital, Singularity Ventures, and others. “We will continue to acquire capabilities both organically and inorganically. We are allocating capital for suo-moto development of critical technologies for CUAS and EW systems. In the last six months, we have strengthened Dexcel’s design and manufacturing capabilities and are now gearing up to execute large-scale indigenisation and upgrade programs,” said Rohan Gala, co-founder and CEO of Sanlayan. Sanlayan recently acquired a majority stake in 20-year-old embedded systems firm Dexcel Electronics to boost its capability to deliver advanced indigenous solutions for defense, aerospace, and space sectors. Dexcel Electronics has contributed to key programs like Jaguar, Sukhoi, LCA Tejas, and Chandrayaan-3. Sanlayan, leveraging its in-house R&D, is also developing AESA radar for India’s unmanned underwater vehicle (UUV) program. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Deeptech startup Planys raises $4 Mn

EntrackrEntrackr · 1y ago
Deeptech startup Planys raises $4 Mn
Medial

Deeptech startup Planys Technologies has raised $4 million in its ongoing pre-Series A round. The fresh investment tranche has come after a gap of more than two years for the Chennai-based firm. The board at Planys Technologies has passed a board resolution to issue 8,471 CCPS at an issue price of Rs 41,600 each to raise Rs 35.23 crore, its regulatory filing accessed from the Registrar of Companies shows. Himalaya Finance, Golden Birch Investments, Krishna Defence, Impact India Investments, SiriusOne Capital, and several individuals including Ashish Ramesh Kacholia, Shalini Chhabra, and Puneet Gupta participated during the new investment tranche. The company also approved its MSOP pool of 1,445 equity shares amounting to Rs 6 crore (as per the valuation report) in February, a separate filing shows. Established in 2015 by Tanuj Jhunjhunwala and Rakesh Sirikonda, Planys does underwater inspection by offering secure and adaptable solutions through marine robotics and analytics systems. The company has been working on over 350 projects with its 10 products across 5 countries. It also has more than 30 patents under its belt. Planys Technologies has raised around $8 million to date including a $1.6 million round led by Keiretsu Forum, LetsVenture in November 2021. According to the startup data intelligence platform TheKredibe, the company has been valued at around Rs 135 crore (post-money) in the new tranche. Unlike other startups, Planys hasn’t been growing at a rapid clip and this could be evident from its flat scale which grew to Rs 8.63 crore in FY23 as compared to Rs 7.41 crore in FY22. Moreover, the firm’s losses also spiked 3.2X to Rs 3.51 crore in the same period.

Homversity raises $1 Mn from Shuru-UP, IPV and others

EntrackrEntrackr · 7m ago
Homversity raises $1 Mn from Shuru-UP, IPV and others
Medial

Student housing networks platform Homversity has raised $1 million in a pre-Series A round from Shuru-Up, IPV (Inflection Point Ventures), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, Growth 91, and other investors. The Ahmedabad-based company had previously raised $378K from Shuru-Up and more. The proceeds will be deployed towards establishing a premium, scalable student housing operator model, supporting growth initiatives to enhance the platform's reach, and improving its offerings for students across India, Homversity said in a press release. Founded in 2019 by Saurav Kumar Sinha, Homversity is a student housing network organising several verticals of India’s student housing industry. The platform focuses on organising major verticals of the industry, such as quality of stay, good food, and a safe, secure ecosystem for students with hassle-free processes and support systems like a 100% refund on cancellations. Homversity eliminates the hassles of food and living costs by providing a high standard of living and healthy meals, whether students come from rural areas or urban centres. By doing so, it ensures students can focus on education, networking, and personal growth without worrying about these basic necessities. According to market research, the student housing industry in India presents a Rs 58,000 crore opportunity, driven by over 35 million annual student enrollments across 51,000 universities, colleges, and institutes. Homversity states that its strengths lie in its extensive, in-depth database and deep insights into the challenges tenants and landlords face. This understanding allows the platform to address key pain points in the student housing market, offering tailored solutions that enhance the experience for all users.

Homversity raises $1 Mn from Shur-UP, IPV and others

EntrackrEntrackr · 7m ago
Homversity raises $1 Mn from Shur-UP, IPV and others
Medial

Student housing networks platform Homversity has raised $1 million in a pre-Series A round from Shuru-Up, IPV (Inflection Point Ventures), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, Growth 91, and other investors. The Ahmedabad-based company had previously raised $378K from Shuru-Up and more. The proceeds will be deployed towards establishing a premium, scalable student housing operator model, supporting growth initiatives to enhance the platform's reach, and improving its offerings for students across India, Homversity said in a press release. Founded in 2019 by Saurav Kumar Sinha, Homversity is a student housing network organising several verticals of India’s student housing industry. The platform focuses on organising major verticals of the industry, such as quality of stay, good food, and a safe, secure ecosystem for students with hassle-free processes and support systems like a 100% refund on cancellations. Homversity eliminates the hassles of food and living costs by providing a high standard of living and healthy meals, whether students come from rural areas or urban centres. By doing so, it ensures students can focus on education, networking, and personal growth without worrying about these basic necessities. According to market research, the student housing industry in India presents a Rs 58,000 crore opportunity, driven by over 35 million annual student enrollments across 51,000 universities, colleges, and institutes. Homversity states that its strengths lie in its extensive, in-depth database and deep insights into the challenges tenants and landlords face. This understanding allows the platform to address key pain points in the student housing market, offering tailored solutions that enhance the experience for all users.

Cygnet aims to drive business process digital transformation through specialized offerings

EntrackrEntrackr · 1y ago
Cygnet aims to drive business process digital transformation through specialized offerings
Medial

Cygnet is an Ahmedabad-based SaaS startup that aims to help organizations achieve business process digital transformation with its specialized offerings in compliance, digital and quality engineering, enterprise modernization, data, AI and analytics, hyper-automation, test automation, digital signature, and a myriad of other offerings. We spoke to the company founder, Niraj Hutheesing, to learn more about the startup, how it works, the growth of cloud and automation in the context of new-age AI, the future roadmap, and much more. How has the cloud and automation industry evolved with the arrival of new-age AI? How do you plan to make the transformation? The cloud and automation industry has evolved significantly with the advent of AI, enhancing capabilities in data processing, predictive analytics, and process automation. Our AI solutions excel in cloud monitoring and developing self-healing scripts, reducing Service Level Agreement (SLA) breaches through consolidated alerts. Additionally, AI-driven FinOps optimizes cloud infrastructure costs, while business process automation delivers real-time insights to operations teams. As pioneers in business prediction, we use AI to nullify data gaps, empowering businesses to enhance data-driven decision-making with accurate forecasts and strategic advantages. Do you also offer cyber security solutions? If yes, please explain them. If no, please help understand your point of view on adding a security layer to yourservices given the increasing risks. Yes, Cygnet offers comprehensive cyber security solutions under our ‘Security as a Service’ portfolio. Our approach is to implement ‘security by design’, ensuring all controls are implemented as a regular practice rather than add-on activities. Cygnet, certified on ISMS and SOC 2 Type 2, ensures overall compliance with industry standards for products and services provided. We also cater to our client’s needs in performing specific security practices, including Network Security assessment, Application Security assessment, Cloud assessment, documentation, Compliance reviews, etc., to help them achieve the required security posture. Cygnet also ensures the ‘Single Source of Truth’ concept using a data warehouse is implemented product-wide to ensure data reliability and integrity are maintained. Our approach includes compliance automation, ensuring adherence to industry standards and regulations. We implement infrastructure automation to maintain robust security protocols across all systems. Our applications support regulatory-required User access management modules, which ensure appropriate authentication, authorization, roles, rights, and logging are performed and stored in a secured format for future reviews. There are a bunch of companies operating in your space, with some well-established ones too. How do you stand out from the competition? With a couple of decades of robust experience in providing solutions to multiple organizations globally, Cygnet understands the need for agile deliveries and challenges occurring in a dynamic environment. The ability to adapt to changes and implement a solution or product tailored specifically for the client helps us to stand out from our competitors. Be it on critical integrations with legacy systems on the tax tech or fintech side or modernizing decade-old applications without incurring major downtimes. Cygnet is a CMMi v2 L3, SoC 2 Type 2, and ISMS-certified organization that helps us provide our clients with prompt and secure solutions. We also have a 24/7 support model for functional, process, and technical aspects to ensure client support is not hampered. With a process-driven approach, we have specific delivery teams that ensure client requirements are met in a cost-effective and efficient manner. Which are your key markets? Please explain what makes India different from other developing and developed markets? Cygnet’s key markets include India, the Middle East, America, and Europe. In India, we have a significant presence, managing one-fifth of the country’s e-invoicing traffic through our portals. India’s market is distinct due to its decentralized and distributed systems, emphasizing the importance of data integrity and integrated systems. Unlike other regions, India’s regulatory environment and digital infrastructure necessitate robust, scalable solutions tailored to diverse requirements, making it a unique and dynamic market for our product solutions. What is your roadmap for increasing your local and international footprint? Cygnet’s roadmap for increasing its local and international footprint involves leveraging its unique COSMOS Digital Transformation Framework, based on co-ideate, co-innovate, co-create, and co-evolve pillars, ensuring a collaborative and innovative environment. This strategy fosters strong client relationships and delivers tailored solutions. By partnering strategically and offering holistic service offerings for BFSI, Manufacturing, and Healthcare industries, Cygnet aims to achieve a robust global footprint. As a core thought leader in tax, compliance, and data understanding, Cygnet excels in transforming financial processes across local and global markets. Please help understand your growth trajectory in terms of users or clients or any other metric you use. And also share your future projections and measures to achieve them. Our growth trajectory has been impressive, scaling our client base and securing multi-million dollar deals across 1000+ Enterprise accounts globally. We’ve successfully retained 90%+ clients and expanded our valued clients during global economic downturns, strengthening our position as a trusted partner in driving sustained growth. Amongst all the proprietary platforms, we have more than half a lac user base globally. Wherein one of the platforms, Cygnet Tax, processes 19% of India’s E-invoicing volume. Over the past year, our product vertical grew by 45%, with a projected 50% growth this financial year. Amongst solutions provided to our clients for their Go-To-Market, we have achieved 97% client satisfaction & 65% referral-based business. Looking ahead, we plan to achieve vertical growth through cross-selling services and horizontal expansion with global e-invoicing solutions to address compliance challenges for MNCs.

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