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91Trucks, Zebu, High Time Foods, Feline Spirits, others secure funding
VCCircle
·
3m ago
Medial
Several startups, including 91Trucks, Zebu, High Time Foods, Feline Spirits, Footprints Preschool & Daycare, Vaya, and GoTrust, have secured funding from various investors. The funds will accelerate product development, team expansion, and market reach. 91Trucks focuses on commercial vehicles, Zebu on defence tech, High Time Foods on plant-based consumables, Feline Spirits on alcoholic beverages, Footprints on childcare, Vaya on astrology, and GoTrust on data governance. These ventures aim to enhance their capabilities and expand geographically.
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Feline Spirits raises Rs 5.2 Cr in pre-Series A round led by IPV
Entrackr
·
3m ago
Medial
Feline Spirits raises Rs 5.2 Cr in pre-Series A round led by IPV Craft alcoholic beverage startup Feline Spirits has raised Rs 5.2 crore in a pre-Series A funding round led by Inflection Point Ventures (IPV). The proceeds will be used to expand the company’s portfolio and enter new markets. Founded by Prabhat Sharma and Rohit Saxena, Feline Spirits focuses on handcrafted vodka, whisky, and brandy in the premium and mass-premium segments, using authentic ingredients and transparent distilling practices. Feline Spirits is currently operational across eight states and union territories, with a customer base of over 20 lakh. In FY25, the brand claims to sell more than 4.1 lakh bottles (19,751 cases), generating Rs 25 crore in sales revenue. It has secured operating licenses in eight markets, including five government-owned and operated ones. With a gross profit margin of 55% in the premium segment, the platform aims to bridge the gap between low-quality mass-market products and high-priced international brands by offering affordable, premium spirits. According to market research, India’s spirits market is projected to reach $31 billion in 2024, growing at a CAGR of 6.51% through 2028. Globally, the market is expected to grow from $1.4 trillion in 2022 to $2 trillion by 2027.
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Direct-to-consumer brands keep deal street busy with new funding rounds
Economic Times
·
6m ago
Medial
The new year has seen a surge in funding activities for consumer brands, signaling renewed momentum in deal-making. Various early- to mid-stage companies, such as The Whole Truth Foods, Mokobara, Snabbit, Nuuk, and others, are finalizing funding rounds with venture investors and high-net-worth individuals. Deals include seed to series B funding, with Belgian fund Sofina leading a significant round for The Whole Truth Foods. Quick commerce and entering new product segments have boosted sales, driving these investments.
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QSR chain Tibbs Frankie eyes maiden funding round, appoints banker
VCCircle
·
4m ago
Medial
Tibbs Foods Pvt Ltd, the Mumbai-based quick service food chain operating under the Tibbs Frankie brand, is engaging in early discussions to secure its first external funding round from institutional investors. The company, known for its variety of rolls and rice dishes, has appointed a banker to facilitate this process. This move marks Tibbs Foods' initial step towards raising external capital to potentially expand its operations and strengthen its market presence.
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91Trucks begins Series A round with 5.5X valuation surge
Entrackr
·
3m ago
Medial
91Trucks, an online platform specializing in commercial vehicle listings, raised Rs 42.9 crore ($5 million) in its Series A round led by Arkam Ventures with the participation from Titan Capital and others. 91Trucks, an online platform specializing in commercial vehicle listings, raised Rs 42.9 crore ($5 million) in its Series A round led by Arkam Ventures through associate (Unitary Fund), with the participation from Titan Capital, Sparrow Capital, and Atrium Angels. 91Truck’s board has issued 2,247 Series A CCPS at an issue price of Rs 1,88,578 each to raise the aforementioned amount, its regulatory filings accessed from the Registrar of Companies (RoC) show. Arkam Ventures led the round with Rs 25.2 crore (approximately $3 million) followed by Titan Capital, which injected Rs 15 crore. Sparrow Capital and Atrium Angels also joined the round with Rs 1.73 crore and Rs 1 crore investment, respectively. The proceeds from this round will be utilized for capital expenditures, marketing, and general corporate purposes, the filings said. As per Entrackr’s estimates, the Gurugram-based company’s valuation has soared 5.5X to Rs 280 crore or $33 million (post-allotment of Series A round), compared to Rs 50.47 crore at the time of its seed round. Launched in 2022, 91Trucks offers information on new and used trucks, buses, and auto rickshaws—including prices, specs, comparisons, and dealer contacts. As per its website, it also runs five physical stores in Delhi-NCR and Meerut for affordable used vehicle purchases. Startup data platform TheKredible shows Arkam Ventures as the largest external shareholder in the company with a 9% stake, followed by Titan Capital (5.35%) and Sparrow Capital (4.94%). For the fiscal year ending in March 2024, 91Trucks reported Rs 10.11 crore revenue, compared to Rs 3.95 crore in FY23. Looking at the bottom line, its losses stood at less than Rs 1 crore. It’s yet to disclose FY25 numbers.
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Food-tech startup High Time Foods raises $1.2 million in round led by Avaana Capital
Economic Times
·
3m ago
Medial
High Time Foods, a plant-based protein food-tech startup, secured $1.2 million in funding led by Avaana Capital, with plans to enhance product development, expand globally, and hire talent. The Bengaluru-based company, using shelf-stable ingredients like pea and mung bean proteins, targets the protein-deficient Indian market and plans to tackle African markets next. The business-to-business firm aims to expand its reach to 50 B2B partnerships in India by year-end.
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Identity security startup Veza raises $108 million in round led by New Enterprise Associates
Economic Times
·
3m ago
Medial
Veza, an identity security startup, secured $108 million in a funding round led by New Enterprise Associates, with participation from Atlassian Ventures, Workday Ventures, and others. The funds will support global expansion and product development. Founded in 2020, Veza helps organizations secure enterprise-wide access, serving clients like Wynn Resorts and Expedia. The firm reported strong growth, more than doubling its annual recurring revenue and experiencing high customer retention. Veza addresses modern identity security needs with innovative solutions.
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Exclusive: 91Trucks set to raise new round led by Arkam Ventures
Entrackr
·
5m ago
Medial
Exclusive: 91Trucks set to raise new round led by Arkam Ventures 91Trucks, an online platform specializing in commercial vehicle listings, is all set to raise a new round to the tune of Rs 30-35 crore ($3.5-4 million), according to sources aware of the development. Arkam Ventures is leading a Rs 30-35 crore funding round in 91Trucks, with some existing investors expected to participate, according to a source. "The terms of the deal have been finalized, and an official announcement is expected soon.” Founded in 2022 by Abhishek Gautam, Siddharth Sharma, and Vikas Sharma, 91Trucks is a Gurugram-based platform that provides reviews, specifications, and customer ratings for trucks, buses, and three-wheelers, helping users make informed purchasing decisions. It works closely with automotive manufacturers, dealers, banks, and NBFCs to offer IT solutions and financing options. In May 2024, 91Trucks secured seed funding from investors including Titan Capital, Atrium Angels, and Sparrow Capital. However, the company did not announce the fundraise in the media. As per sources, 91Trucks may get a $15-20 million valuation post money. 91Trucks declined to comment on the story, while queries sent to Arkam Ventures did not elicit a response until the time of publication. According to startup data intelligence platform TheKredible, Titan Capital is the largest external shareholder in the company with a 5.78% stake, followed by Sparrow Capital with 4.72%. For the fiscal year ending in March 2024, 91Trucks reported Rs 10.11 crore revenue against Rs 3.95 crore in FY23. During the last fiscal year, its losses stood at less than Rs 1 crore. Arkam Ventures, which backed companies like Jar, Kreditbee, Jai-Kisan, Jumbotail, and Signzy through its first fund, introduced its second fund of $180 million in June 2023, with plans to invest in around 20 early-stage startups.
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Havmor founding family’s new ice cream brand Hocco to raise fresh funding
VCCircle
·
4m ago
Medial
Hocco Foods Pvt Ltd, managed by the Ahmedabad-based Chona family, founders of the Havmor brand, is preparing to raise its second round of funding this year. The company aims to secure Rs 150-200 crore ($17.4-22.9 million) to scale its ice cream business, as reported by a top executive to VCCircle. This move follows their strategy to expand the newly established Hocco brand after previously divesting from Havmor.
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Peak XV-backed healthtech startup Qure.ai in talks for fresh funding
VCCircle
·
1y ago
Medial
Qure.ai, a health-tech startup that utilizes artificial intelligence for medical imaging diagnostics, is in talks for a substantial round of funding. The company is seeking to secure its largest institutional funding to date, with venture capital firms Peak XV Partners and others among its current investors. The fresh funding will likely support Qure.ai's expansion and further development of its AI-powered medical imaging solutions.
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Rebel Foods raises $25 Mn from QIA: Report
Entrackr
·
3m ago
Medial
Cloud kitchen company Rebel Foods, which is set for a public-market listing in 2025-26, has reportedly raised $25 million (about Rs 212.71 crore) from Qatar Investment Authority. Mint, which reported the development first, added that the company raised the capital at a valuation of $1.4 billion. The fresh funds will be used to expand its physical restaurants and food courts business. Rebel Foods declined to comment on the story. In December 2021, the firm announced its Series G funding round of $210 million, comprising a mix of primary and secondary share sales. It has raised $773 million to date from KKR, Temasek, Lightbox, Evolvence, and others. Rebel Foods currently claims to have over 450 cloud kitchens across India, MENA, Indonesia, UK, including 75 cities in India. Its major competition includes horizontal and vertical foodtech plays including Curefoods, EatClub, Biryani By Kilo, FreshMenu, Biryani Blues, Kitchens@, Bigspoon, and HOI Foods. In February this year, Rebel Foods announced that it has launched its 15-minute food delivery app, QuickiES. Rebel Foods’ revenue from operations grew to Rs 1,420 crore in FY24 as compared to Rs 1,195 crore in FY23. The company generates most of its revenue through its core operations (sale of food), contributing 96.7% of the total operating revenue in FY24. It is a full-stack food tech firm that makes money from the sale of food through its owned stores and kitchens.
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