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Nordic-based Unconventional Ventures nears €30M fund close to back diverse European teams

TechCrunchTechCrunch · 2y ago
Nordic-based Unconventional Ventures nears €30M fund close to back diverse European teams
Medial

Unconventional Ventures (UV), a Nordic venture capital fund, is addressing the diversity issues prevalent in the tech startup and VC ecosystem. The fund, initially launched as an SPV "nano-fund" in 2018 by Thea Messel and Nora Bavey, has transitioned into a full-fledged VC structure. UV focuses on investing in impact tech companies in the Nordics with diverse founding teams and founders. They have secured over half of their targeted €30 million fund, with backing from notable LPs such as Atomico and the Export and Investment Fund of Denmark. UV's portfolio includes startups like Climate X, Ocean Oasis, SciFree, and Meela Health, with a significant emphasis on diversity and climate change solutions. The fund's uniqueness lies in its exclusive focus on diverse founders and its commitment to impact-driven investments. They also see untapped potential in women's health startups within the impact investment space.

Captain Fresh raises Rs 290 Cr from Blue Earth Capital

EntrackrEntrackr · 11d ago
Captain Fresh raises Rs 290 Cr from Blue Earth Capital
Medial

Captain Fresh raises Rs 290 Cr from Blue Earth Capital Seafood supply chain startup Captain Fresh has secured Rs 290 crore in sustainability-linked financing from global impact investor Blue Earth Capital. The funding will be used to expand Captain Fresh’s global distribution capabilities and strengthen sustainability initiatives across seafood value chains. Founded in 2020 by Utham Gowda, Captain Fresh operates a technology-driven platform that integrates seafood sourcing, processing and distribution. The company’s digital operating system focuses on improving traceability and efficiency across the fragmented seafood supply chain. Captain Fresh sells packaged seafood through a portfolio of brands including CenSea, Frime, Koral, Senecrus, ChopServe, Ocean Edge and Ocean Garden. Its customer base includes distributors and retailers across markets such as the US, Europe, the UAE and India. During FY25, the company claims to have served around 1,300 customers across more than 30 countries and traded in over 90 seafood species including shrimp, salmon, tuna and lobster. Its sourcing network spans more than 650 suppliers across 35 countries. Bengaluru-based Captain Fresh has expanded globally through acquisitions. Last week, it completed the acquisition of Spain-based tuna processor Frime. In 2024, it acquired Poland-based salmon company Koral. Earlier, it acquired US-based seafood importer CenSea and France-based seafood distributor Senecrus. According to its FY25 financials, Captain Fresh reported a 2.5X jump in gross merchandise value to Rs 3,421 crore in FY25 from Rs 1,395 crore in FY24. The company also posted a net profit of Rs 42 crore compared to a loss of Rs 229 crore in the previous year.

Talent marketplace FlexiBees raises pre-Series A round

EntrackrEntrackr · 1y ago
Talent marketplace FlexiBees raises pre-Series A round
Medial

Talent marketplace FlexiBees has raised its pre-Series A round led by Inflection Point Ventures for an undisclosed amount. The round also saw participation from Shan M S, COO of Namma Yatri, Reema Mahajan, founder of International Women in Dubai, and other notable investors. The proceeds will be used for expanding its technological infrastructure, refining its AI algorithms, and broadening its market presence to better meet the needs of both employers and talent. Founded by Shreya Prakash, Rashmi Rammohan, FlexiBees connects women professionals with part-time, project-based, and remote roles. It serves over 700 businesses globally, including major firms like Kimberly-Clark Professional and Tata Realty, as well as high-growth startups such as Qapita and Creditmantri. The startup claims to have a network of over 60,000 professionals and has placed over 1,400 women in flexible careers and impacted 20,000 women through returnship preparation and interview coaching. As of July 2024, FlexiBees has a team of over 30 professionals working remotely, all sourced from their own talent pool.

Blue Tokai raises $25 Mn in a bridge funding round from existing investors

EntrackrEntrackr · 6m ago
Blue Tokai raises $25 Mn in a bridge funding round from existing investors
Medial

Blue Tokai raises $25 Mn in a bridge funding round from existing investors Speciality coffee chain Blue Tokai Coffee Roasters has raised $25 million (around Rs 220 crore) in a bridge funding round from existing investors A91 Partners, Anicut, Verlinvest, and 12 Flags. The proceeds will be used to scale retail operations, strengthen back-end infrastructure, and expand into international markets such as Dubai and Japan. In India, the funds will also support new store launches and the expansion of its roasteries and bakery facilities in Bengaluru and Gurugram. Blue Tokai currently operates cafes across multiple Indian cities and has positioned itself as a premium coffee brand. The founders said they are revising their growth targets upwards. Earlier, the plan was to achieve Rs 1,000 crore in revenue and Rs 100 crore EBITDA by 2027. Now, the company aims for over 800 stores and Rs 2,000 crore revenue within the next four years. Blue Tokai has raised over $105 million to date, including its $30 million Series C round led by Verlinvest in August last year. According to the startup data intelligence platform TheKredible, A91 Partners was the largest external stakeholder with 22.77% followed by Verlinvest. As per TheKredible, Blue Tokai Coffee Roasters achieved over five-fold growth in the past four fiscal years. The brand's revenue grew from Rs 41 crore in FY21 to Rs 75 crore in FY22, Rs 127 crore in FY23, and Rs 216 crore in FY24. It competes with Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

KickCash crosses $1 Mn ARR in India, eyes rewarded UA space in developed markets

EntrackrEntrackr · 8m ago
KickCash crosses $1 Mn ARR in India, eyes rewarded UA space in developed markets
Medial

Gurugram-based KickCash has clocked over $1 million in annualised revenue, riding on a performance-first approach to user acquisition for mobile games and apps. In a cluttered market grappling with privacy regulation and ad fraud, KickCash is positioning itself as a “frequent flyer program for mobile gamers”, where time spent equals real cash rewards. The startup, currently available exclusively on Android, offers users real world payouts for their playtime & participation in in-game events and campaigns promoted by partnered gaming studios. The earned rewards are credited to the user’s KickCash wallet and can be withdrawn directly, a real-world hook that is already translating into repeat usage. KickCash operates on a unique three-sided flywheel model that benefits players, game developers, and the platform itself. Players earn real rewards for engaging with games they already enjoy, turning playtime into tangible value. Game developers only pay when players show genuine in-game engagement, leading to better retention and ROI. For KickCash, revenue comes from verified performance, aligning its growth with client outcomes rather than superficial metrics. According to KickCash, campaigns on the platform have driven a 52% jump in Day-30 ROAS and 24% better Day-21 retention compared to traditional UA benchmarks. Supported by marquee global gaming studios like Playtika, Potato Play, Felicity Games, and TripleDot Studios, KickCash claims to have built a fraud-proof and privacy-compliant acquisition engine in a post-cookie world. Having stress-tested its multi-reward engine in India’s fiercely competitive market, KickCash is now preparing to launch in mature markets that still lack a friction-free, cash-out model. The move is a natural next step, leveraging the company’s data-driven moat to unlock higher ROI for publishers and a smoother payout loop for players. "Crossing the $1 million ARR threshold is an inflection point - one that positions us for the next phase of scale," said Co-founder Pratyush Nishantkar, hinting at larger ambitions.

Karnataka HC issues notice to Centre on A23’s plea against gaming law

EntrackrEntrackr · 6m ago
Karnataka HC issues notice to Centre on A23’s plea against gaming law
Medial

The Karnataka High Court has stepped into the debate on India’s new Promotion and Regulation of Online Gaming Act, 2025, which bans all forms of online money games, including skill-based games like rummy and poker. The court, led by Justice B M Shyam Prasad, has issued notice to the Union government. It has asked the Centre to file its reply to a petition filed by Head Digital Works, the parent company of A23, which became the first gaming operator to challenge the new law. The petitioners, represented by senior advocates C. Aryama Sundaram and Dhyan Chinappa, argued that the new Act is misleading. Its title suggests “promotion and regulation,” but in effect, it imposes a blanket ban on all money games. They warned the court that the sudden implementation of the law could trigger a “huge backlash” across the country. According to them, the ban could destroy thousands of jobs, disrupt ongoing businesses, and impact a sector that has attracted heavy investment. They requested that the government either delay the notification of the law or at least provide seven days’ advance notice so that affected parties can seek legal remedies. On behalf of the Centre, Solicitor General Tushar Mehta opposed the plea. He argued that once the President has given assent to a bill, notifying it is a constitutional function. The courts, he said, cannot stop this process. However, Mehta also acknowledged that the notification could be issued soon and assured the court that he would seek instructions from the government. The next hearing is scheduled for September 8 at 2:30 PM. The petition by A23’s parent company marked the first major legal challenge to the new law. However, leading players like Dream11, Gameskraft, and MPL have chosen not to contest the legislation in court.

Emversity buys back Rs 6.5 Cr ESOPs from 20 employees

EntrackrEntrackr · 10d ago
Emversity buys back Rs 6.5 Cr ESOPs from 20 employees
Medial

Emversity buys back Rs 6.5 Cr ESOPs from 20 employees Higher-education embedded training and employability platform Emversity has bought back employee stock options worth Rs 6.5 crore from 20 employees as part of a liquidity programme. The buyback was extended to employees who joined the company on or before January 31, 2024. According to the company’s HR leadership, Emversity currently has more than 700 employees and operates across 24 states through over 60 locations in India. The development comes soon after Emversity’s $30 million Series A round led by Premji Invest. Emversity is operated by Beyond Odds Technologies, which was launched in April 2024 by Vivek Sinha, former COO of Unacademy, with an initial $11 million seed round led by Matrix Partners India and Lightspeed. Soon after the launch, Emversity had raised $5 million in a pre-Series A round led by Lightspeed and Z47. It also runs employer-linked skill centres, particularly in healthcare and hospitality, in affiliation with the National Skill Development Corporation (NSDC). In less than two years, Emversity claims to have scaled to 4,500 learners across 40 campuses. Its programs are designed with employers to create predictable talent pipelines, especially for sectors facing workforce shortages. The brand currently supports healthcare and hospitality roles, with learners placed across large hospital chains and hotel groups.

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