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Routematic raises $40 Mn led by Fullerton Carbon Action Fund and Shift4Good

EntrackrEntrackr · 9m ago
Routematic raises $40 Mn led by Fullerton Carbon Action Fund and Shift4Good
Medial

Routematic raises $40 Mn led by Fullerton Carbon Action Fund and Shift4Good Routematic, a provider of employee fleet management and transport automation solutions, has secured $40 million in a Series C funding round led by Fullerton Carbon Action Fund and Shift4Good. Routematic previously raised approximately $6 million across investment rounds led by Blume Ventures, VAMM Ventures, and Bosch between 2015 and 2021. In November 2020, it raised $2 million from Bosch Limited at a valuation of $28 million. The company's current valuation could not be ascertained. Routematic’s next phase includes setting up city-level command centers to manage fleet operations based on demand. It also plans to convert 30% of its fleet to EVs to support clients' ESG goals. Routematic offers a full range of services for corporate mobility, including technology for transport, transport as a service using its own fleet, and transport operations management. Currently present in over 23 cities across India servicing more than 300 clients and 300K monthly users. India’s employee transportation market is expected to reach $13.2 billion by 2030, driven by business growth, employee needs, and sustainability. Routematic plans to grow its corporate commute services and expand its fleet to over 10,000 vehicles in the top five cities by March 2026.

IDfy raises $53 Mn led by Neo Secondaries Fund

EntrackrEntrackr · 8d ago
IDfy raises $53 Mn led by Neo Secondaries Fund
Medial

IDfy raises $53 Mn led by Neo Secondaries Fund Trust and regtech platform IDfy has raised Rs 476 crore (around $53 million) in a Series F funding round comprising both primary and secondary transactions. The round was led by Neo Asset Management through its Neo Secondaries Fund, with participation from existing investors Blume Ventures, Analog Capital, Elev8, IndiaMART, and Kae Capital. The proceeds from the primary capital will be used for strategic acquisitions, expansion into new international markets, and further development of its product offerings. The secondary portion of the round will provide liquidity to early investors and employees. Founded in 2011, IDfy offers an integrated TrustStack platform covering digital onboarding, risk mitigation, fraud detection, and privacy governance. The company serves over 500 enterprise clients across more than 10 sectors and conducts over 500 million verification checks annually. IDfy has operations across seven countries, including India, Southeast Asia, and the Middle East. The funding comes amid increasing demand for identity verification, fraud detection, and privacy compliance solutions globally, driven by rising digital transactions and evolving regulatory requirements. In India, the rollout of the Digital Personal Data Protection (DPDP) Act and higher budgetary allocation for digital infrastructure have contributed to the growth of the regtech ecosystem. According to Entrackr, IDfy has raised over $120 million to date, including a $27 million round comprising primary and secondary transactions from Elev8, KB Investment, and Tenacity. On the financial front, IDfy reported operating revenue of Rs 186 crore in FY25, compared to Rs 145 crore in FY24. The company also reported a net profit of Rs 1.6 crore during the year, compared to a loss in the previous fiscal year.

EduFund raises $6 Mn Series A round led by Cercano Management

EntrackrEntrackr · 7m ago
EduFund raises $6 Mn Series A round led by Cercano Management
Medial

EduFund, a full-stack education-planning and financing platform, has raised $6 million (Rs 50 crore) in a Series A round led by Cercano Management and MassMutual Ventures, taking its total funding to $12 million. The proceeds will be used to roll out an AI-powered personalized planning engine, expand loan access for undergraduate students, and strengthen its presence in tier-II and tier-III cities, where education costs are rising faster than income. Founded in 2020, the platform offers Indian families a complete toolkit to fund domestic and international education, combining investment plans, education loans, visa and forex services, and on-demand expert counselling. EduFund supports over 250,000 families and partners with more than 40 asset management firms and over 15 lending institutions, including public and private sector banks, NBFCs, and global lenders. It also collaborates with consumer brands such as Hamleys, Prisms (school ERP), and DTDC.

Ethereal Machines raises $13 Mn led by Peak XV and Steadview

EntrackrEntrackr · 1y ago
Ethereal Machines raises $13 Mn led by Peak XV and Steadview
Medial

Advanced manufacturing startup Ethereal Machines has raised $13 million in a Series A round led by Peak XV Partners and Steadview Capital. Existing investors Blume Ventures, Enam Investments, and Sandeep Singhal also participated in this round. The funds raised will be utilized for R&D, building multi-axis CNC controllers and constructing its second smart factory in the next 12 months, Ethereal said in a press release. This new factory will span 250,000 square feet on the outskirts of Bengaluru. Founded by Kaushik Mudda and Navin Jain, decade-old Ethereal Machines produces precision engineering components via its proprietary multi-axis CNC machines. Its machines enable precision engineering components to be produced at fast and cost-effective rates. Ethereal caters to customers from the USA, Europe, Israel, and India. As per the company, it has manufactured precision components for numerous emerging companies in the deep-tech sector, including space-tech, drones, medical diagnostics, and thermal imaging. On average, Ethereal’s manufacturing solutions claim that it reduces costs for their customers by 30% and production lead times by 40%. The company also launched two new machines, Aura and Nimbus. The Bengaluru-based startup claims that it has seen a 4x increase in revenue and a 3x increase in production capacity in the last 12 months. Ethereal Machines had raised $7.3 million from Peak XV’s Surge, Blume Ventures and others in July last year. As per startup data intelligence platform TheKredible, Blume was the largest external stakeholder in the company as of the last funding round with over 18% stake followed by Surge Ventures which controls more than 17% stake. Ethereal Machines reported Rs 2.30 crore in revenue from operations in FY23 against Rs 60 lakh in FY22. According to TheKredible, The company’s losses also increased to Rs 4.69 crore in FY23 from Rs 2.6 crore in the previous fiscal year.

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