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AquaExchange raises $8 Mn in Series B round at $41 Mn valuation

EntrackrEntrackr · 4h ago
AquaExchange raises $8 Mn in Series B round at $41 Mn valuation
Medial

AquaExchange raises $8 Mn in Series B round at $41 Mn valuation Aquaculture technology startup AquaExchange has raised $8 million (around Rs 72 crore) in its Series B funding round, co-led by Endiya Partners and Factor Analytics, with participation from Accion Ventures and support from Ocean 14 Capital. According to filings, the round was co-led by Endiya Partners and Factor Analytics, with investments of Rs 30 crore each, followed by Accion Ventures, which invested Rs 12 crore. AquaExchange's valuation has surged around 74% to Rs 372 crore (approximately $41 million) in the latest round, compared to Rs 214 crore during its Series A funding in January 2024. The fresh capital will be used to expand its international technology business, grow domestic market share, and strengthen its presence across the aquaculture value chain. Endiya Partners holds a 16.2% stake, followed by Accion Venture with 9.68% and Factor Analytics with 8.06%. Founded by Pavan Kosaraju, Hemasundar Dhavili, Kareem Mohammod, and Kiran Bandi, AquaExchange helps aquaculture farmers leverage technology to improve crop yields, reduce crop risks, and manage rising input costs. Its product portfolio includes PowerMon, a power management device, and AquaBot, an automated feed management system. The company claims to be the first aquaculture technology firm in India to automate more than 25% of the country’s shrimp farming acreage. Its platform currently monitors over 80,000 acres of aquaculture farms globally and operates across five Indian states, along with international markets such as Ecuador, Saudi Arabia, and Madagascar. The company’s operating revenue rose 2.3X to Rs 240.51 crore in FY25 from Rs 104.88 crore in FY24, while its losses increased to Rs 12.71 crore from Rs 9.35 crore during the same period. The company also claims to achieve EBITDA profitability within the current financial year.

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Ultrahuman in talks to raise $120 Mn

EntrackrEntrackr · 10m ago
Ultrahuman in talks to raise $120 Mn
Medial

Ultrahuman is reportedly in talks to raise $120 million in a new round led by WestBridge Capital. The development comes a year after the Bengaluru-based company’s $35 million Series B round. Moneycontrol, which reported the development first, said that some private equity funds may also participate in the round at a valuation of $550–600 million. According to TheKredible's estimates, the company was valued at $125 million after its Series B round. It has raised over $60 million to date from investors including Zomato founder and chief executive Deepinder Goyal, Nexus Ventures, Blume Ventures, and Alpha Wave. Ultrahuman is a self-quantification platform that offers a smart ring called Ring Air, a glucose monitoring wearable called M1 Live, and a blood testing product called Blood Vision, among others. The company also launched its luxury Rare smart ring collection earlier this year. The Mohit Kumar-led company recorded a significant jump in its operating scale to $74.5 million (approximately Rs 620 crore) for the calendar year 2024 (CY24). It claimed to have reported an 11% profit before tax (PBT) and an 8% EBITDA during the same period.

Fast Fashion brand Newme to raise $12 Mn at $112 Mn valuation

EntrackrEntrackr · 3m ago
Fast Fashion brand Newme to raise $12 Mn at $112 Mn valuation
Medial

Women-focused fast fashion brand Newme has kicked off a Series B round with Rs 108.66 crore (approximately $12 million) co-led by existing investors Accel India, Fireside Ventures, and with the participation of new investor Point72 Ventures and others. Newme had secured $18 million in a Series A round led by Accel in July last year. The Newme’s board passed a special resolution to issue 3,447 Series B CCPS at an issuance price of Rs 3,15,231 per share to raise the amount as mentioned earlier, according to its regulatory filing with the Registrar of Companies (RoC). Accel India and Fireside Ventures will each invest Rs 36.94 crore ($4 million), while Point72 Ventures will join the captable with Rs 26.38 crore ($3 million). AUM Ventures, 2am Ventures, and A, Paul SRC SPV V, LLC will contribute the remaining amount. According to Entrackr’s analysis, the D2C firm’s valuation is set to rise by about 41% to Rs 988 crore ($112 million), compared to its earlier valuation of Rs 700 crore during the Series A funding round. Founded by Shivam Tripathi, Sumit Jasoria, Himanshu Chaudhary, and Vinod Naik, the Bengaluru-based startup sells women-centric products targeting Gen Z, across both online channels and offline stores. According to its website, the company’s app has more than 7 million downloads, and it operates 16 offline outlets across cities, including Bengaluru, Mumbai, New Delhi, Chandigarh, Pune, and Hyderabad, among others. According to startup data intelligence platform TheKredible, Newme has raised over $23 million across two funding rounds, including its seed round in January 2024. Following the latest infusion, Fireside Ventures will become the largest external shareholder with a 19.27% stake, followed by Accel India at 17.06%, while new investor Point72 Ventures will hold 2.67%. The company’s co-founders will collectively retain 31.45% ownership. Financially, Newme reported Rs 48.28 crore in operating revenue for the fiscal year ended March 2024, with a loss of Rs 35.75 crore. The company has yet to disclose its FY25 financials.

D2C luggage brand uppercase raises $9 Mn led by Accel

EntrackrEntrackr · 1y ago
D2C luggage brand uppercase raises $9 Mn led by Accel
Medial

D2C luggage brand Uppercase (Acefour Accessories) has raised $9 million in a Series B round led by venture capital firm Accel. As per uppercase, it has raised the new round at a post money valuation of $60 million. In 2022, the company had raised $7 million in apPre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners. The funding will support business expansion, aiming to increase its customer base across India, uppercase said in a press release. Founded by Sudip Ghose, uppercase sells travel gear online and through 1,800 multi-brand stores across India. Its products are priced in the range of Rs 3,500-5,000. The Mumbai-based company aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, uppercase also competes with Assembly, Nasher Miles and EUME. While Nasher miles raised $4 million in July, EUME bagged $1.7 million in June. As per startup data intelligence platform TheKredible, uppercase reported an operating revenue of Rs 10.65 crore in FY23 with Rs 21 crore loss. The company is targeting to more than double its revenue to Rs 150 crore by FY25, up from Rs 70 crore in FY24.

Dogsee Chew raises $8 Mn in Series B round

EntrackrEntrackr · 1y 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,” said Bhupendra Khanal. According to data intelligence platform TheKredible, Dogsee Chew’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.

Battery Smart raises $65 Mn in Series B round

EntrackrEntrackr · 1y ago
Battery Smart raises $65 Mn in Series B round
Medial

Battery tech startup Battery Smart has scooped up $65 million in Series B round led by LeapFrog Investments. The equity round also saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment (BII). While Battery Smart did not disclose its current valuation, it was valued at around $340 million during the first tranche of Series B worth $45 million. This was a significant surge in valuation from the $210 million in the pre-Series B round in November last year. The startup will use the capital to scale its battery-swapping network across the country and drive more electric mobility adoption, Battery Smart said in a press release. Battery Smart provides advanced lithium-ion batteries for electric two and three-wheelers which can be swapped in quick time at any of its swapping stations. Its battery-as-a-service (BaaS) solution helps customers to save high upfront costs. Currently, it claims to have 1,000 battery-swapping stations across 30 cities, completing over 35 million swaps with over 45,000 active customers. The firm has a presence in Haryana, NCR, Karnataka, Rajasthan, Telangana, Uttar Pradesh, and Maharashtra. Recently, Battery Smart tied up with quick commerce platform Zepto to deploy 1,000 electric vehicles in the next financial year of FY25. The partnership will allow Zepto’s EV delivery partners to use Battery Smart’s battery-swapping network. As per startup data intelligence platform TheKredible, Battery Smart saw a seven-fold jump in its revenue to Rs 55.8 crore from Rs 7.95 crore in FY22. Meanwhile, its losses also surged 4.9X to Rs 64.51 crore from Rs 13.08 crore. As per the latest data, Tiger Global controls 23% stake in Battery Smart followed by co-founders Pulkit Khurana and Siddharth Sikka with 14.28% stake each. Blume Venture holds more than 12% stake in the company. Check TheKredible for more details.

Zomato-backed AdOnMo raises $7 Mn

EntrackrEntrackr · 1y ago
Zomato-backed AdOnMo raises $7 Mn
Medial

Ad-tech firm AdOnMo has raised Rs 58.21 crore (around $7 million) in its Series B1 round. This is the first major infusion in the Hyderabad-based company after its Series A round led by Zomato last year. The board at AdOnMo has passed a special resolution to issue 36 equity and 4,156 CCPS at an issue price of Rs 1,38,850 each to raise Rs 58.21 crore or $7 million, its regulatory filing with the RoC shows. Healthcare veteran Ravindranath Kancherla and his son Kancherla Pruthvinath injected Rs 16.6 crore while Qatar Insurance Company and ZNL Growth (Z Nation Lab) pumped in Rs 8 crore and Rs 1.80 crore, respectively. Three dozen individual investors including Manish Kailash Chhabra, Vindhya Guduru, Vikram Malhotra, Usha Reddy Chigarapalli, and Desireddy Srinivasa Reddy also invested in AdOnMo’s Series B round. The company will use these investments for business expansion and to meet working capital requirements, according to the filing. According to the startup data intelligence platform TheKredible, AdOnMo has been valued at around Rs 858 crore or $105 million (post-money). During the ongoing fiscal year, the company also raised Rs 20 crore in debt from Northern Arc and Alteria Capital. Founded in 2016 by Sandeep Bommireddi and Sravanth Gajula, AdOnMo is an ad-tech company which provides targeted digital advertising to outdoor digital screens (residential & corporate parks) across 21 cities. As of now, the company has raised around $25 million across rounds including its $15 million round led by Zomato last year. Before this round, Zomato was the largest external stakeholder with a 17.49% stake followed by BAce Capital and Astarc Ventures. AdOnMo grew at a rapid clip in the last fiscal year as its revenue from operations surged four-fold to Rs 75 crore in FY23. Meanwhile, the company’s losses stood at Rs 38 crore in the same period.

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