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Smallcase raises $50 Mn in Series D led by Elev8

EntrackrEntrackr · 3m ago
Smallcase raises $50 Mn in Series D led by Elev8
Medial

Smallcase raises $50 Mn in Series D led by Elev8 Wealthtech startup Smallcase has raised $50 million in its Series D round led by Elev8 Venture Partners, a $200 million growth-stage fund focused on high-potential Indian startups. The round also saw participation from State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures. The capital will be used to expand Smallcase’s investment product offerings across asset classes and strengthen its relationships with retail investors and ecosystem partners, Smallcase said in a press release. The new round is coming after a gap of more than 3.5 years. Smallcase has raised around $120 million to date, including $40 million in a Series C round led by Faering Capital in August 2021. According to the startup data intelligence platform TheKredible, Peak XV is the largest external stakeholder, followed by Faering Capital and Blume Ventures. Launched in 2016, Smallcase offers a model portfolio platform that has served over 10 million investors. It also provides technology solutions to more than 250 financial institutions, including research firms, advisors, wealth managers, and brokerages. The platform recently expanded its offerings through a joint venture with Zerodha to launch an asset management company focused on index funds and ETFs. Smallcase's revenue from operations surged to Rs 67.4 crore in FY24 from Rs 30.6 crore in FY23. A drop in advertising and employee benefits enabled the company to reduce its losses by 74.4% to Rs 34 crore in the last fiscal year. According to TheKredible, Indian wealthtech startups such as Neo, Dezerv, Centricity, Stable Money, Fisdom, InvestorAi, and Wealthy have garnered nearly $250 million in funding across 15 deals in the past 18 months. Elev8 Venture Partners, backed by South Korea’s KB Investment, focuses on B2B SaaS, enterprise tech, consumer tech, and fintech. This is its third investment after supporting identity verification platform IDfy and astrotech platform Astrotalk.

Exclusive: AstroTalk seeks unicorn valuation in new round

EntrackrEntrackr · 6d ago
Exclusive: AstroTalk seeks unicorn valuation in new round
Medial

Exclusive: AstroTalk seeks unicorn valuation in new round Noida-based AstroTalk closed a $14 million funding round in June last year. As of now, it has raised $34 million from Left Lane and Elev8 Capital. Astrology-focused platform AstroTalk is in mid stage talks to raise a new funding round in the range of $50-100 million, according to three sources aware of the development. The fresh funding talks have been initiated after a gap of 12 months for the Noida-based company. “The discussions are ongoing with multiple investors, including a few existing backers,” said one of the sources on condition of anonymity. “The new round is likely to be the final one before the company files its DRHP for a public listing by the first half of the next year.” As per sources, the firm will begin the IPO process in a few months. AstroTalk closed a $14 million funding round in June last year. As of now, it has raised $34 million from Left Lane and Elev8 Capital. “Astrotalk is seeking a valuation of $1.3 to $1.5 billion in the new round, which is expected to close in the next couple of months,” said another source, who requested anonymity as the discussions are private. This will be a substantial increase from its earlier $300 million valuation. If the firm achieves this valuation, Astrotalk will join the ranks of Jumbotail, Drools, Porter, Netradyne, and Juspay, all of which became unicorns in the ongoing calendar year (2025). For the uninitiated, AstroTalk is an online platform that enables users to consult with astrologers through the internet, phone calls, and chat. It claims to host a network of 45,634 professionals, including astrologers, tarot readers, numerologists, and Vastu experts. The platform offers services for personalized predictions and guidance on areas such as marriage, relationships, career, health, and more. The Puneet Gupta-led company has recorded strong growth over the past two fiscal years. As per an internal document reviewed by Entrackr, Astrotalk ended FY25 with Rs 1,182 crore in revenue and a profit of over Rs 250 crore. This follows a sharp rise in FY24, when it reported Rs 651 crore in revenue and Rs 100 crore in profit. AstroTalk declined to comment on the story. AstroTalk recently diversified its offerings with the launch of a D2C vertical focused on spiritual and wellness products. This includes services like puja bookings, gemstones, and astrological remedies. According to co-founder Anmol Jain, the D2C business is expected to contribute 25-30% of overall revenue while maintaining profitability. AstroTalk’s planned IPO comes at a time when profitable, consumer-tech startups are seeing renewed interest from investors. If successful, it would be the first venture-funded player in the online astrology segment to go public. The company faces competition from platforms like Astrosage, Astroyogi, GaneshaSpeaks, and InstraAstro.

ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week

Economic TimesEconomic Times · 9m ago
ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week
Medial

- Startups raised $77 million between September 28 and October 4, a 54.5% decrease from the same period last year. - This week, startups secured funding through 14 rounds, compared to 44 rounds in the year-ago period. - MStack, a specialty chemicals startup, raised $40 million in a funding round led by Lightspeed Venture Partners and Alpha Wave Global. - Basic Home Loan, a fintech startup, raised $10.6 million in a series B funding round led by Bertelsmann India Investments. - Troo Good, a snack brand, raised $8.6 million in a funding round led by Oaks Asset Management. - Str8bat, a sports technology startup, raised $3.5 million in a series A funding round led by Exfinity Venture Partners.

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