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BeyondSquare raises $4 Mn in Series A led by Avant Global

EntrackrEntrackr · 4m ago
BeyondSquare raises $4 Mn in Series A led by Avant Global
Medial

IT product enterprise BeyondSquare Solutions has raised $4 million in Series A funding round led by Avant Global Corporation. The investment will be executed in three stages, beginning with the issuance of new and convertible shares, followed by additional subscriptions from existing shareholders, and ultimately, the conversion of warrants upon achieving defined performance milestones. The proceeds will be utilized to strengthen FinAlyzer’s core capabilities by expanding automation, deepening compliance intelligence, and enhancing scalability for enterprises with complex reporting structures, BeyondSquare Solutions said in a press release. Co-founded by Karthik Ganeshan, Venkatachalam PK, and Rangan Varadan, BeyondSquare Solutions built FinAlyzer — a financial consolidation and reporting solution that automates close, consolidation, and compliance, bringing global-class accuracy and transparency to CFOs. It integrates seamlessly with diverse ERP and accounting systems, FinAlyzer delivers real-time insights, strengthens governance and reduces operational risks for Finance teams. As per market research, the global financial consolidation software segment is projected to double from $3.2 billion in 2024 to $6.4 billion by 2032, at a CAGR of around 11–11.4%. BeyondSquare claims that its FinAlyzer is already trusted by over 100 enterprises across more than 25 industries in more than 45 countries, including several Fortune 500 India companies and Fortune 2000 global enterprises, and aspires to extend its international footprint, particularly in the Middle East, Europe and South East Asia.

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Ace Turtle raises $5 Mn in bridge round led by Vertex Holdings

EntrackrEntrackr · 1m ago
Ace Turtle raises $5 Mn in bridge round led by Vertex Holdings
Medial

Tech-led retail firm Ace Turtle has raised $5 million in a bridge funding round led by its existing investor Vertex Holdings. The company’s co-founders Berry Singh and Nitin Chhabra also participated in the round. The new round has come after a gap of two years for the Bengaluru-based company. It has raised $48 million to date, including a $34 million round led by Vertex Ventures in May 2023 and a $4 million pre-Series B round in July 2019. The proceeds will be used to support working capital needs, expand the company’s offline retail presence, and extend runway as Ace Turtle prepares for a larger fundraising round next year. Ace Turtle operates and distributes global apparel brands in India, including Lee, Wrangler, and G-Star Raw, across online and offline channels. The firm has been expanding its physical store network while tightening costs amid slower demand in discretionary retail. The company is targeting EBITDA breakeven by December 2025 and aims to turn EBITDA positive over the next few financial years as it scales its omnichannel retail operations.

Metalbook raises $15 Mn in Series A round

EntrackrEntrackr · 1y ago
Metalbook raises $15 Mn in Series A round
Medial

Metalbook, a platform for the global metals supply chain, has raised $15 million in its Series A funding round led by Rigel Capital, with participation from FJ Labs, as well as existing investors, Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital, and others. Axilor had led $5 million seed round in Metalbook in August last year. Metalbook is poised to deepen its impact on the manufacturing and infrastructure supply chains, metal sourcing, logistics, and financing solutions for large-scale global projects, the company said in a press release. Founded in 2021, Metalbook helps enterprise & SME customers through their entire metal manufacturing and procurement cycle, including buying, selling, excess inventory liquidation, customization, logistics, financing, e-auctioning, scrap recycling, credit and project management solutions. “..We want to make sure that there is enough of a track record for market investors to look at before we plan for an Initial Public Offer (IPO) in 4-5 years,” said Raghavendra Pratap Singh, co-founder, Metalbook. The Delhi-based startup claims to work with over 500 global metal manufacturers, dealers and suppliers across the value chain and currently caters to more than 1,000 customers. The company works with global steel players such as ArcelorMittal Nippon Steel, Tata Steel, JSW, EU Metals, JSPL et al and several enterprise customers such as DLF, BL Kashyap, Bygging, etc. It recently launched new categories across Copper, Aluminium, and metal scrap and has built out a global footprint of processing centers, and more than 1,000 suppliers across 80 geographies. Metalbook is anticipated to achieve an annualized revenue run rate of $200 million by the end of FY24, a growth of over 15 times in the past two years.

Myelin Foundry raises $4 Mn led by SIDBI Venture Capital

EntrackrEntrackr · 1y ago
Myelin Foundry raises $4 Mn led by SIDBI Venture Capital
Medial

Deep tech AI startup Myelin Foundry has raised $4 million in a new round from SIDBI Venture Capital Limited (SVCL). Other investors include Endiya Partners, Pratithi Investment Trust, and Subh Labh. Last year, the Bengaluru-based startup had raised $3 million in its Series A round led by Visteon Corporation and others. The proceeds will be used to strengthen Myelin’s AI platforms, support its expansion into international markets, and solidify its position as a leader in the edge AI space. Founded in January 2019 by Dr. Gopichand Katragadda and Ganesh Suryanarayanan, Myelin Foundry’s platforms deploy artificial intelligence in real-time at the edge to provide unparalleled video and audio experiences and outcomes. Its customer base includes leading global automotive and OTT (over-the-top) players eager to use AI’s power in their automotive and customer devices. The global artificial intelligence market size was estimated at $200 billion in 2023 and is projected to grow at a CAGR of 36.6% from 2024 to 2030. Myelin is positioned to be a key player in this space.

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.

IndiGrid raises $4 Mn led by Cactus Venture Partners

EntrackrEntrackr · 4m ago
IndiGrid raises $4 Mn led by Cactus Venture Partners
Medial

IndiGrid raises $4 Mn led by Cactus Venture Partners Electric vehicle (EV) component maker IndiGrid Technology has raised $4 million (about Rs 35.2 crore) as part of a strategic funding round from existing investor Cactus Partners. Electronics systems design and manufacturing startup IndiGrid Technology has raised $4 million (about Rs 35.2 crore) as part of a strategic funding round from existing investor Cactus Partners. The proceeds will be allocated towards expanding production capacity and offerings, enhancing automation, ramping up hiring and broadening presence both in India and other global markets, IndiGrid Technology said in a press release. Co-founded in 2015 by Sameer Narang and Rishab Puri, IndiGrid Technology is a full stack electronics component manufacturer with in-house design and manufacturing capabilities. The electronics system design and manufacturing (ESDM) startup makes battery packs, motor controllers, vehicle control units, components for EV drivetrains, among others. “Having matured in the automotive industry, we have diversified to increase our product portfolio by acting on the evidently growing market traction in the consumer goods sector where we began acquiring some key clients,” said Sameer Narang, co-founder of IndiGrid Technology. The latest round comes more than a year after Cactus Partners led IndiGrid’s $5 million Series A round in June 2024. Since then, the company has diversified into consumer electronics and now also caters to companies like Hella, Rosenberger, Sensetek, Sandhar, IFB, Revolt, among others. IndiGrid reported a revenue of Rs 108.5 crore in the fiscal year 2024-25 (FY25) and it is targeting a top line of Rs 350 crore to Rs 380 crore in FY26. It claims to operate at high single-digit EBITDA margin and projects to clock double-digit EBITDA margin growth in the next couple of years.

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