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StampMyVisa raises Rs 4 Cr in bridge round led by Unicorn India Ventures

EntrackrEntrackr · 3m ago
StampMyVisa raises Rs 4 Cr in bridge round led by Unicorn India Ventures
Medial

Snippets StampMyVisa raises Rs 4 Cr in bridge round led by Unicorn India Ventures B2B visa processing platform StampMyVisa (SMV) has raised Rs 4 crore in a bridge round led by existing investor Unicorn India Ventures (UIV). The fresh capital will be used for growth, marketing and to support the company’s recent acquisition of Kunal Shah backed Teleport, which expands its operations in South India. Unicorn India Ventures had earlier invested Rs 6.6 crore in StampMyVisa during its seed round last year. The company aims to use this bridge round to achieve key milestones before raising a larger Series A round in the next financial year. StampMyVisa said it has achieved 4 times growth in revenue while maintaining a 99.5% visa success rate, processing more than 75,000 visas in the past six months. Its proprietary AI engine Nucleus automates and validates visa documentation for over 80 countries. The company recently introduced new products including SMV Insure, which refunds the booking value if a visa is rejected, and SMV Global, an eSIM service offering international connectivity at lower cost than regular roaming. It plans to expand into GCC markets and build fintech infrastructure with embedded credit and payment solutions for small and medium businesses. The platform targets to process 80% of visa applications within five minutes, compared to the current industry average of two days. In August 2025, StampMyVisa acquired travel tech startup Teleport, a consumer facing player backed by founders including Kunal Shah, Vidit Aatrey and Phanindra Sama. It competes with Atlys, Visa2Fly and StampThePassport.

Unicorn India Ventures backs B2B Visa platform StampMyVisa

EntrackrEntrackr · 1y ago
Unicorn India Ventures backs B2B Visa platform StampMyVisa
Medial

Business-to-business (B2B) visa platform, StampMyVisa, has secured Rs 6.6 crore in a pre-Series A funding round led by Unicorn India Ventures. The fresh funds will be used to support rapid expansion, enhance AI capabilities, and enable the company to introduce innovative services that redefine how businesses manage international travel and visa processes for Indians traveling abroad, according to a press release from StampMyVisa. Launched by Rahul Borude and Pravin Wadekar, StampMyVisa is an AI-powered platform that simplifies the complex visa application process for businesses. Specializing in B2B travel, the platform assists corporates, travel agents, MICE companies, and OTAs in streamlining and automating visa processing, ensuring faster approvals, reduced errors, and enhanced global compliance. With its scalable and user-friendly technology, StampMyVisa aims to transform how businesses manage international travel documentation, empowering them to scale globally with ease. According to market research, the global e-Visa market is projected to grow at a CAGR of 11.1%, from $1,030.5 million in 2024 to $2,395.2 million by 2032. StampMyVisa claims to have grown more than sevenfold, handling hundreds of visas daily while ensuring complete compliance with global regulations over the last 12 months. The company also plans to introduce new offerings that will enhance the customer experience, positioning it as a one-stop solution for all international travel needs, from visa processing to travel insurance and eSIMs. StampMyVisa aims to reach one million visas processed annually within the next 12–18 months. Unicorn India Ventures has previously backed companies such as SmartCoin, Open Bank, Sequretek, and Pharmarack. Its current Rs 1,000 crore Fund III aims to support the next generation of innovative digital platforms.

Startup news and updates: Daily roundup (November 12, 2024)

YourStoryYourStory · 1y ago
Startup news and updates: Daily roundup (November 12, 2024)
Medial

StampMyVisa, an AI-powered visa processing platform, has raised Rs 6.6 crore in funding from Unicorn India Ventures. The company plans to use the capital to enhance its AI capabilities, introduce innovative services to manage international travel and visa processes, and expand its geographical footprint in India. DesignX, a manufacturing startup, has raised $1 million in pre-Series A funding from Piper Serica Angel Fund. The startup focuses on hyper-automation for manufacturing shop floors and aims to enhance productivity and sustainability through real-time data analytics. India IVF, a tech-enabled fertility platform, has secured $1.25 million in pre-Series A funding from Tomorrow Capital. The funding will support the company's expansion across North India and enable it to provide improved access to fertility care. Animation and VFX studio 88 Pictures has launched a gaming division called 88Games to bring Indian history and culture to the gaming industry. IT solutions provider Mphasis has appointed Mike Meyer as head of strategic sales to drive closure on large and strategic deals. IIT Madras's eXperiential Technology Innovation Centre (XTIC) is launching the 'XTIC-Academic Partnership Program' to support the growth of the XR sector in India and create highly-trained XR developers and designers for the global market.

Unicorn India Ventures closes Fund III at Rs 1,200 Cr

EntrackrEntrackr · 1d ago
Unicorn India Ventures closes Fund III at Rs 1,200 Cr
Medial

Unicorn India Ventures closes Fund III at Rs 1,200 Cr Deeptech-focused venture capital firm Unicorn India Ventures has closed its third fund at Rs 1,200 crore, surpassing its initial target of Rs 1,000 crore. LPs in Fund III include HNIs, UHNIs, family offices, and institutions. Backers include Sidbi, SBI, Nabard, and the state governments of Kerala, Madhya Pradesh, and Odisha. According to Unicorn India Ventures, the fund focuses on investments in semiconductors, spacetech, and AI infrastructure. The VC firm claims to have already seen strong early traction, with seven to eight portfolio companies witnessing substantial follow-on rounds. The fund will make 20 investments with an average ticket size of 10-15 crore. It plans to announce four investments in the coming months across quantum sensing, agritech, and spacetech. Across its three funds, the VC firm has built a portfolio of nearly 50 companies, with a total portfolio valuation of about $5 billion. The firm says that it is largely staying away from AI applications (SaaS) and focusing on AI infrastructure such as semiconductors, data centres, power, and enabling technologies. It is also actively exploring nuclear micro power generation as an enabler for AI. Another major trend playing out in the fund is the growing presence of academicians as startup founders. Four to five companies in Fund III are led by academicians, with one of them being a teaching academic. Unicorn India Ventures (UIV) is a Mumbai-based, SEBI-registered Alternative Investment Fund (AIF) launched in 2015 by Bhaskar Majumdar and Anil Joshi. It acts as an early-stage venture capital firm investing in technology-led startups, focusing on seed to pre-Series A rounds with investments ranging from Rs 1 to 10 crore. The firm supports B2B, SaaS, and DeepTech sectors, aiming to build, support, and scale companies, with over 60 investments to its credit.

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