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Beacon.li raises $7 Mn in Series A round

EntrackrEntrackr · 4m ago
Beacon.li raises $7 Mn in Series A round
Medial

Enterprise tech startup Beacon.li has raised $7 million in its Series A round led by Sorin Investments, with participation from Athera Venture Partners, JAFCO Asia, Unicorn India Ventures, and angel investors including Capillary Technologies founder Aneesh Reddy, Rapido co-founder Aravind Sanka, and Kapil Bharti. The proceeds will be used to expand AI capabilities, increase global presence, and boost enterprise automation. Founded in 2023 by Silus Reddy and Rakesh Vaddadi, Beacon.li offers AI-driven product assistants for enterprise software support, integrating with systems to automate processes and answer queries. Customers include Darwinbox, Zluri, Keka HR, and Planful. Co-founded by former KKR India head Sanjay Nayar, Sorin Investments closed its maiden fund at Rs 1,350 crore in May last year.

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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.

D2C brand Zouk raises $10 Mn led by Aavishkaar Capital

EntrackrEntrackr · 8m ago
D2C brand Zouk raises $10 Mn led by Aavishkaar Capital
Medial

Zouk, a direct-to-consumer bags and luggage brand, has raised $10 million in its Series B funding round, led by Aavishkaar Group. This round also saw participation from Stellaris Venture Partners, Titan Capital, Sharrp Ventures, and the JJ Family, bringing Zouk’s total funding to $14.5 million. Entrackr reported on October 7 about Zouk's new funding round. With the fresh capital, Zouk will focus on expanding its network of exclusive brand outlets, aiming for a total of 75 stores. The firm also plans to enhance its marketing efforts and supply chain while investing in talent across various verticals. Founded in 2015 by Disha Singh and Pradeep Krishnakumar, Zouk specializes in handmade products, including laptop bags, tote handbags, sling bags, and wallets, all crafted from 100% vegan leather sourced in India. With over 700,000 customers served, the startup is also venturing into the luggage segment with new backpacks and trolley bags, anticipating strong growth in this area. Sources indicate that Zouk will be valued in the range of $50 million (approximately Rs 400 crore). According to the startup data intelligence platform TheKredible, the Mumbai-based startup was valued at around $7 million during its last round. At the time of the last funding round, co-founders Disha Singh and Pradeep Krishnakumar each held a 31% stake in the company, while Stellaris was the largest external shareholder with a 19.63% stake. For the fiscal year ending in March 2023, Zouk reported a revenue of Rs 47.41 crore, up from Rs 21.82 crore in FY22. However, the company’s losses increased to Rs 10.55 crore, compared to Rs 77 lakh in the previous year. Zouk has yet to file its numbers for FY24. Lead investor Aavishkaar Capital has previously backed several startups, including AgroStar, Altum Credo, Ergos, GoDesi, Milk Mantra, and Newtrace.

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