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Travel accessories brand EUME raises Rs 25 Cr in Series A

EntrackrEntrackr · 9m ago
Travel accessories brand EUME raises Rs 25 Cr in Series A
Medial

Travel accessories brand EUME has raised Rs 25 crore ($3 million) in its Series A equity round led by investor Ashish Kacholia. Existing backers including Pradeep Rathod of Cello Group and Prithviraj Kothari of Arvog Financial also participated. Earlier in June last year, the Mumbai-based startup had raised Rs 15 crore ($1.7 million) in a new round led by Ashish Kacholia. The proceeds will be used to scale physical retail, strengthen operations, invest in marketing, and support working capital needs. Founded by Naina Parekh and Pranay Parekh, EUME began as a design-forward luggage brand and has built awareness through associations with events like the Tata Mumbai Marathon and SulaFest. EUME plans to open three flagship stores within 45 days in Bengaluru (Mall of Asia), Mumbai (Oberoi Sky City), and Hyderabad (Sarath City). These new locations are part of the firm’s strategy to grow its offline presence and tap into metro markets. The brand aims to position itself as a premium luggage player, combining retail expansion with product innovation. The brand is set to expand its portfolio across travel categories and focus on premium-priced offerings. It also continues to grow its presence in both B2C and B2B segments, including corporate gifting partnerships.

ePlane looks to ride the Indian government's interest in air taxis with new $14M round

TechCrunchTechCrunch · 1y ago
ePlane looks to ride the Indian government's interest in air taxis with new $14M round
Medial

Indian startup ePlane is developing an electric vertical takeoff and landing (eVTOL) vehicle as a solution to India's traffic congestion crisis. The e200x aircraft, designed for intra-city commuting and cargo transport, features a compact wingspan of 8 meters, allowing it to land in tight spaces and make multiple short trips on a single charge. ePlane's lift-plus-cruise configuration combines vertical rotors with wings, enabling reliable and efficient flight. The startup aims to commercialize its electric air taxi in 2026 after obtaining necessary certifications and completing prototyping. ePlane recently raised $14 million in a Series B funding round to support its development and regulatory efforts.

Amazon-backed ToneTag secures $78 Mn after 7-year hiatus

EntrackrEntrackr · 1y ago
Amazon-backed ToneTag secures $78 Mn after 7-year hiatus
Medial

Amazon-backed ToneTag secures $78 Mn after 7-year hiatus Contactless payment solution provider ToneTag has raised $78 million in its Series B2 funding round. The funding is a combination of primary and secondary capital and is led by ValueQuest S.C.A.L.E. Fund and its co-investors who have committed over 50% of the fundraise. Existing investor Elevate Innovation Partners LLC are also participating in this round. This investment will enable ToneTag to revamp customers' payment experiences and accelerate its global expansion, the company said in a press release. The Bengaluru-based company has secured a new funding round after nearly seven years, making it one of the few startups to raise capital after such a long hiatus. Founded by Kumar Abhishek, ToneTag provides three product categories for businesses: voice commerce, online store solutions, and in-store solutions, tailored for retail and F&B sectors. Through its Oyeti platform, the company enables businesses to integrate voice-powered shopping, ordering, and payment experiences. For customers, its VoiceSe UPI payment service allows voice-based transactions even without an internet connection. ToneTag processes over 30 million transactions daily using its unique soundwave technology. This allows secure payments through sound, making it easy to use even without the internet. Big companies like Google and Amazon, along with major Indian banks like SBI and ICICI, trust ToneTag for their payment solutions. According to data intelligence platform TheKredible, ToneTag’s revenue from operations jumped 111.7% to Rs 47.78 crore during FY24 in contrast to Rs 22.57 crore generated in FY23. The firm also achieved profitability for the first time since its inception in 2014. Among contactless payment solution providers, ToneTag competes with Paytm, PhonePe, PineLabs, BharatPe, and MobiKwik et al.

Exclusive: Electric mobility platform Kazam to raise $6 Mn in Series B

EntrackrEntrackr · 8m ago
Exclusive: Electric mobility platform Kazam to raise $6 Mn in Series B
Medial

Exclusive: Electric mobility platform Kazam to raise $6 Mn in Series B Electric mobility startup Kazam is raising Rs 51 crore (around $6 million) in its Series B round, led by Vertex Ventures, with participation from Avaana Capital and Chakra Growth Capital. The board at Kazam has passed a special resolution to issue 36,410 Series B compulsory convertible preference shares at an issue price of $165.06 each to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. IFC VVSEA Co-Invest LP and Vertex Ventures SEA Fund, representing Vertex Ventures, will jointly invest $4.9 million, while Avaana Capital and Chakra Growth Capital will contribute $1.01 million and $0.9 million, respectively. According to Entrackr’s estimates, the company will be valued at around $51 million post-allotment. Kazam plans to deploy the funds towards business growth, expansion initiatives, and general corporate purposes. After this funding round, Vertex Ventures and IFC VVSEA Co-Invest together will hold a 22.89% stake, while Avaana Capital and Chakra Growth Capital will own 17.02% and 1.51% stakes, respectively. Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform that develops smart and affordable charging networks. Its technology supports a wide variety of vehicles, including two-wheelers, commercial electric vehicles (CEVs), three-wheelers, and city buses. It claims to power over 25,000 charging points. The Bengaluru-based firm works with the likes of BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette. The company is yet to file its annual results for FY25. According to the startup data intelligence platform TheKredible, its revenue from operations surged 3.3X to Rs 12.19 crore during the fiscal year ended in March 2024 while its losses stood at Rs 10.2 crore in the same fiscal year.

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