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Professional social media platform Medial raises $120K led by FirstCheque VC, angels

IndianStartupNewsIndianStartupNews ยท 1y ago
Professional social media platform Medial raises $120K led by FirstCheque VC, angels
Medial

Medial, a professional social media platform, has raised $120,000 in a pre-seed funding round led by FirstCheque VC. The round also saw participation from angel investors from Bengaluru, Mumbai, and the US. Medial aims to be a content and community-driven hub, offering startup news, industry updates, and professional advice in a straightforward manner. The funds raised will be used for product development, user acquisition, and testing core app features. Medial differentiates itself by offering both real identity and anonymous features and plans to officially launch by January 2024. MEDIAL TEAM NOTE: Hi guys, thanks for loving Medial. We are launching feed on 19th Jan. It will change the app forever and would make it way more useful and interesting. Stay tuned for crazy updates. Never thought, we'd be announcing our own funding news on our own app after announcing so many other. Cheers!

Ajinkya Rahane invests in Proxgyโ€™s Series A round

EntrackrEntrackr ยท 6m ago
Ajinkya Rahane invests in Proxgyโ€™s Series A round
Medial

Snippets Ajinkya Rahane invests in Proxgyโ€™s Series A round Proxgy, an IoT innovator specializing in safety, connectivity, and productivity solutions, has received funding from Indian cricketer Ajinkya Rahane in its ongoing $3 million Shashank Pathak 25 Dec 2024 11:59 IST Follow Us New Update Proxgy, an IoT innovator specializing in safety, connectivity, and productivity solutions, has received funding from Indian cricketer Ajinkya Rahane in its ongoing $3 million Series A funding round. Other key investors in the round include Nikhil Kamath, Suniel Shetty, Vinod Duggar, and Manish Patel. Entrackr had exclusively reported the Series A round in September, 2024. The Gurugram-based company has also raised Rs 16 crore ($2 million) in a pre-series A round led by LetsVenture, Planify Angel Fund, Mach Tech Fund, and others in October last year. The new proceeds will be used to scale operations, expand Proxgyโ€™s product offerings, and strengthen its international presence. Founded by Pulkit Ahuja in 2020, Proxgy is focused on developing innovative IoT-based solutions. The company also offers smart wearables and safety products designed to enhance workplace safety and efficiency, particularly for blue-collar workers. The Gurugram-based company has represented India globally, winning the European Product Design Award, Most Innovative Product at CES Las Vegas, and Most Promising Start-Up at GITEX Africa. The firm claims to have reported a 800% revenue growth in FY24, with a Rs 50 crore order book. Advertisment 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. You may find a list of our investors here. Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news Subscribe Now Related Articles LIVE RBI permits third-party UPI apps to process payments from PPI wallets LIVE Leanworx raises seed round led by YourNest Venture LIVE Razorpay grants ESOPs worth Rs 1 lakh to all current employees LIVE OYO completes acquisition of G6 Hospitality LIVE Cornerstone Ventures bags $100 Mn exit from Intelligence Node Read the Next Article

Peak XV Partners exits Porter with 11x return

EntrackrEntrackr ยท 1m ago
Peak XV Partners exits Porter with 11x return
Medial

Logistics company Porter has generated returns of over Rs 1,200 crore for Peak XV Partners, which recently exited its investment, according to a Mint report. According to the report, the exit marks an 11x return on Peak XVโ€™s Rs 116 crore investment, made across multiple funding rounds over the past decade. The firm first invested in Porter during its Series A round in 2015. Last week, Porter announced that it had raised $200 million in a Series F round, which also included secondary share sales by select existing shareholders. In a response to Entrackrโ€™s queries, a Peak XV spokesperson said, โ€œPorter is a fantastic company and a clear category leader in local logistics. The company has grown tremendously since our Series A investment in 2015 and is now worth over a billion dollars. After a decade-long partnership with the team, we have exited our investment and express our heartfelt gratitude to the founding team โ€” Uttam Digga, Pranav Goel, and Vikas Choudhary โ€” for being wonderful partners.โ€ However, the spokesperson declined to share specific details of the deal. Porter also did not provide a comment on the matter. According to startup data intelligence platform TheKredible, Peak XV held a 13.77% stake in Porter before the Series F round. Mahindra and Mahindra Limited was the largest external stakeholder, followed by Lightrock Growth Fund. Following its latest funding, Porter became the third unicorn of 2025, after Netradyne and Juspay, which reached unicorn status in January and April, respectively. For the fiscal year ending March 2024, Porterโ€™s revenue from operations rose by 55.9% to Rs 2,733.8 crore. Despite increasing expenses, the company managed to reduce its losses by 45% to Rs 95.7 crore from Rs 174.6 crore in FY23. According to The Arc, Porterโ€™s overall scale is projected to grow by 55% to Rs 4,300 crore in FY25. In addition to Porter, Peak XV has also partially or fully exited investments in companies such as Rebel Foods, Healthkart, Finova, K12 Techno, and Cloudnine Hospitals.

Optimized Electrotech raises $6 Mn in Series A round

EntrackrEntrackr ยท 2m ago
Optimized Electrotech raises $6 Mn in Series A round
Medial

Optimized Electrotech raises $6 Mn in Series A round. Deep-tech company Optimized Electrotech, specializing in imaging surveillance technology, has bagged $6 million in a Series A funding round co-led by Blume Ventures and Mela Ventures. The round also witnessed participation from 9Unicorns and existing investors, including Rajiv Dadlani Group and Venture Catalysts. The company had previously raised $4.5 million from its existing investors. The proceeds will be used to develop next-gen AI imaging payloads, high-speed space-based surveillance solutions, and to penetrate global markets, Optimized Electrotech said in a press release. Founded in 2017 and led by promoters Sandeep Shah and Dharin Shah, Optimized Electrotech aims to empower AI-driven imaging solutions for ISR and critical strategic applications. The company develops cutting-edge electro-optic systems, spanning the electromagnetic spectrum, enhancing defense, space, border security, and aerospace operations. By integrating onboard analytics, its advanced surveillance solutions provide real-time intelligence, strengthening situational awareness in high-stakes environments. Optimized Electrotech focuses on innovation, indigenous technology development, and strategic surveillance solutions. Its solutions facilitate governments, defense services, paramilitary forces, mining corporations, civic bodies, and large corporations to respond to unauthorized drone attacks swiftly. โ€œDriven by strong government policies and an increasing focus on indigenous capabilities, itโ€™s important to build critical mass within this window of opportunity. This funding round is a testament to the confidence our investors have in our vision. We are committed to leveraging this capital to further enhance our technological capabilities, expand our footprint, and contribute meaningfully to Indiaโ€™s strategic and security objectives,โ€ said Sandeep Shah, founder & MD of Optimized Electrotech. It competes with other notable companies such as Tonbo and Tata Advance Systems Ltd.

Dogsee Chew raises $8 Mn in Series B round

EntrackrEntrackr ยท 4m ago
Dogsee Chew raises $8 Mn in Series B round
Medial

Dogsee Chew raises $8 Mn in Series B round Natural pet treat brand Dogsee Chew has raised $8 million in its Series B round led by Ektha.com, with participation from promoters, Shivanssh Holdings, and Poddar Family Office. The brand has raised a total of $22 million in funding to date, including the current round. In January 2022, the startup raised $6.7 million in its Series A round, led by Mankind Pharma, along with existing investor Sixth Sense Ventures. The new funds will be used to scale up manufacturing capabilities by expanding existing factories and constructing a new production facility. The company also plans to strengthen its Amazon Global Selling strategy to drive growth in international markets and expand further into the United States and Canada in 2025. Founded in 2015 by husband-wife duo Bhupendra Khanal and Sneh Sharma, Dogsee Chew now has a presence in more than 30 countries. The startup claims to offer 100 percent vegetarian dog treats that are all-natural, human-grade, and protein-rich. "With the premiumization of the pet food category on the rise, the demand for our human-grade chews is exploding. This investment ensures we are well-prepared to meet this demand by scaling production and expanding our presence globally. To make our products more accessible, we also plan to open distribution hubs in key international markets, allowing our retail partners to seamlessly access Dogsee Chews with shorter lead times,โ€ said Bhupendra Khanal. According to data intelligence platform TheKredible, Dogsee Chewโ€™s revenue in FY24 stood at Rs 53.76 crore, compared to Rs 98 crore in FY23. The firm reported an almost flat loss of Rs 27.73 crore in the last financial year. The Bengaluru-based startup competes with brands such as Khanal Foods, Captain Zack, Fidele Dog Food, and others in the pet care segment.

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