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Amazon likely to face investigation under EU tech rules next year

Economic TimesEconomic Times ยท 7m ago
Amazon likely to face investigation under EU tech rules next year
Medial

Amazon is expected to face an investigation by EU regulators in 2022 over allegations of favoring its own brand products on its platform. The investigation will be conducted under the European Union's Digital Markets Act, which aims to regulate the power of Big Tech companies. If Amazon is found guilty of breaching the Act, it could face a fine of up to 10% of its global annual turnover. The decision on whether to proceed with the investigation will be made by incoming EU antitrust chief Terera Ribera, who is set to replace Margrethe Vestager next month. Amazon has stated that it is compliant with the Act and has been engaging constructively with the Commission. Other tech companies, including Apple, Google, and Meta Platforms, are also being investigated under the Act.

Powerhouse91 hits Rs 100 Cr ARR and EBITDA profitability with just $2.5 Mn funding

EntrackrEntrackr ยท 2m ago
Powerhouse91 hits Rs 100 Cr ARR and EBITDA profitability with just $2.5 Mn funding
Medial

Powerhouse91 hits Rs 100 Cr ARR and EBITDA profitability with just $2.5 Mn funding Powerhouse91 secured just $2.5 million in funding from Titan Capital and a group of angel investors, including Haresh Chawla, FJ Labs, Crossbeam Venture Partners, and Mamaearth co-founder Varun Alagh. While many wellness-focused startups aim for rapid growth through broad product diversification, some like Mosaic Wellness and Innovist adopt a more focused approachโ€”scaling a select set of high-potential brands by identifying underserved consumer needs and driving deep category innovation. This strategy allows them to maintain operational efficiency while building strong brand equity in niche but growing segments of personal care and wellness. One such example is Powerhouse91, which crossed Rs 100 crore in annual recurring revenue (ARR) in the last month of March, sources told Entrackr. โ€œBesides breaching into the three digits ARR figure, Powerhouse91 achieved EBITDA profitability in April 2025," said one of the sources. โ€œThe company accomplished this through its focused efforts on two core brands and a strong commitment to financial discipline.โ€ Launched in early 2022 by Aqib Mohammed and Shashwat Diesh, the company runs two consumer brands: Azah, focused on feminine hygiene and wellness, and Slovic, a brand centered around fitness. โ€œThis approach of not raising venture capital and focusing on organic growth potentially sets the company apart in a market where many D2C brands have struggled with high burn rates and poor capital efficiency,โ€ pointed out a source. Unlike many D2C brands, Powerhouse91 relies entirely on online distribution, with most of its sales driven by quick commerce and e-commerce platforms such as Blinkit, Zepto, and Amazon. "In March, the company processed around 2.4 lakh orders, and its monthly volume is growing at a healthy double-digit rate,โ€ said another source. According to startup data intelligence platform TheKredible, Powerhouse91 reported nearly Rs 40 crore in revenue along with Rs 5.97 crore in losses during the fiscal year ending March 2024 (FY24). Powerhouse91 declined to comment on the story. Wellness-led digital-first brands have steadily grown over the past few years, even as the broader D2C landscape faced headwinds in funding and customer acquisition.

Fast&Up-parent Fullife Healthcare controls losses by 39% in FY24

EntrackrEntrackr ยท 3m ago
Fast&Up-parent Fullife Healthcare controls losses by 39% in FY24
Medial

Fullife Healthcare, the parent company of sports nutrition brands Fast&Up and Chicnutrix, recorded a modest 10% year-on-year revenue growth for the fiscal year ending in March 2024. However, the companyโ€™s core focus appeared to be on improving profitability, as it reduced its losses by 38.8% during the same period. Fullife Healthcareโ€™s revenue from operations grew to Rs 188 crore during the last fiscal year from Rs 171 crore in FY23, its consolidated annual results sourced from the Registrar of Companies (RoC) show. Fullifeโ€™s Fast&Up offers active nutrition, including protein, workout supplements, and immunity boosters. Chicnutrix, another brand by Fullife launched in 2019, focuses on womenโ€™s wellness with products for skincare, haircare, PCOS, UTI care, and more. Sales from these products were the companyโ€™s sole revenue source in the last fiscal year. The company also earned an additional Rs 3.8 crore from non-operating sources, bringing its total revenue to Rs 191 crore in FY24. Procurement costs for the sports nutrition brand made up 39% of total expenses, which increased by 3.6% to Rs 87 crore in FY24. Meanwhile, Fullife managed to reduce its advertising spend by 22% to Rs 46 crore. The employee cost for the firm grew by 15.6% to Rs 37 crore in FY24. Its freight, online selling cost, legal, and other overheads brought the total expenditure to Rs 222 crore in FY24. Despite the modest growth, the controlled cost mechanism helped Fullife to reduce its losses by 38.8% to Rs 30 crore in FY24, compared to Rs 49 crore in FY23. On a unit level, it spent Rs 1.18 to earn a rupee in the last fiscal year. By the end of FY24, Fullife ROCE, and EBITDA margin improved to -30.7% and -13.09%, respectively. The Mumbai-based company reported a total current asset of Rs 111 crore. Fullife Healthcare has raised over $40 million to date including its $22 million from Morgan Stanley in 2021. According to the startup data intelligence platform TheKredible, Morgan Stanley was the largest external stakeholder with 27.35% followed by Rakesh Jhunjhunwala.

Exclusive: Tata Digital-backed Cult.fit tops up Series F with $10 Mn funding

EntrackrEntrackr ยท 1y ago
Exclusive: Tata Digital-backed Cult.fit tops up Series F with $10 Mn funding
Medial

Health and wellness platform Cult.fit (formerly Cure.fit) has scooped Rs 84.5 crore or $10.2 million in an extended Series F round led by existing backer Valecha Investments. The funding comes after a gap of nearly two years for the Bengaluru-based company. The board at Cult.fit has passed special resolutions to issue 1,55,080 equity shares to Extreme Brands LLP and 15,92,157 Series C compulsory convertible preference shares (CCPS) to other investors at an issue price of Rs 483.62 per share to raise Rs 84.5 crore, as per the companyโ€™s regulatory filings with the Registrar of Companies. Valecha Investments spearheaded the round with Rs 36.36 crore followed by Gul Advani who invested Rs 28.26 crore. Extreme Brands LLP (Exceed Entertainment), L&K Wellness Services (Reset Life) and individuals namely Surendra Kedia, Sangeeta Mansharmani, Shraddha Sheth, Nikhil Kakkar, and Prashant Machwe joined the round with the remaining sum. The company also raised nearly Rs 300 crore in the last quarter of FY22 (Jan-Mar 2022) from Accel, IIFL, Valecha Investments, and other individuals, as per TheKredible. The fundraise, however, missed the headlines. Overall, Cult.fit has raised over $670 million to date from the likes of Zomato, Tata Digital, Temasek, Kalaari Capital and South Park Commons among others. As per startup intelligence platform TheKredible, Cult.fit has been valued at Rs 12,400 crore (post-money). Post-allotment of the round, Accel Partners stands as the largest stakeholder in the company with 17.25% shares whereas its founder & CEO Mukesh Bansal owns a 10.5% stake. For more information, visit here. Cult.fit turned unicorn in November 2021 when Deepinder Goyal-led Zomato acquired a 6.4% stake in the company in a $100 million deal. Last month, the Tata Digital-backed company laid off around 150 employees to improve productivity and achieve profitability by FY25. Cult.fitโ€™s revenue from operations surged 3.2X to Rs 694 crore in FY23 from Rs 216 crore in FY22. While it managed to reduce losses by 20% to Rs 551 crore (excluding the exceptional items or non-cash expenses) in FY23 from Rs 688 crore in FY22.

Exclusive: HyugaLifeโ€™s parent Pratech Brands raises $6.3 Mn in Seed round

EntrackrEntrackr ยท 1y ago
Exclusive: HyugaLifeโ€™s parent Pratech Brands raises $6.3 Mn in Seed round
Medial

Pratech Brands, a digital-first retailer and parent entity of HyugaLife, has raised Rs 52 crore or $6.3 million in a seed funding round led by Spring Marketing Capital and Stride Ventures. The round also saw participation from Peak XV Partnersโ€™ Surge Ventures among others. The board at Pratech Brands has passed a special resolution to issue 21,77,817 Seed compulsory convertible preference shares (Seed CCPS) at an issue price of Rs 168.15 each for a consideration of Rs 36.62 crore or $4.4 million. In a separate resolution, the company also issued 29,735 partly paid CCPS at Rs 168.15 per share and 1,500 non-convertible debentures (NCDs) Rs 1,00,000 each to Stride Ventures to raise Rs 15.5 crore, the companyโ€™s regulatory filings with the Registrar of Companies show. Stride Venture and Spring Marketing Capital led the funding round with Rs 15.5 crore and Rs 12.5 crore investments, respectively. This was followed by Surge Ventures which infused Rs 10 crore. Oorumane Mercantile, Patni Wealth Advisors, Eco Power Systems, AS Desaai Consultants, AMD Consultancy Services and individuals namely Nihir Parikh, Dhaval Parikh, Sandhya Shah, Rohan Mehta, Suhagi Parikh, Nimish Shah, Prakash Shah, Nitesh Jha, Simraan Teckchandani, Priya Ujgaonkar and Karan Jindal invested the remaining sum. As per startup intelligence platform TheKredibleโ€™s estimates, Pratech Brands has been valued at around Rs 160 crore or a little over $19 million. To date, the company has raised around $9.3 million. Note: The information is based on the three separate regulatory filings filed in June, October and December 2023. Pratech Brands is a tech-first house of brands that focuses on products relating to home and health by uncovering consumer needs and building consumer brands. Its health and wellness brand HyugaLife recently raised $1 million from Stride Ventures, and Getvantage in January. The brand is also backed by Indian cricketer K L Rahul and actress Katrina Kaif. For context, HyugaLife operates under Hyuga Health & Wellness Private Limited and Hyuga Ecommerce Ventures Private Limited, the both entities are subsidiaries of Pratech Brands Private Limited. Additionally, Pratech Brands also owns Neesan Ventures and a natural healthcare brand for female hormones, Inaari. Following the fresh capital infusion, promoters of the company Neehar Modi, Sandhya Shah, Sachin Parikh, Shruti Parikh and Anvi Shah collectively own over 52% of the company. Surge Ventures owns an 18.6% stake while Spring Marketing Capital has a 9.4% stake in the company. For the complete shareholding pattern, click here. Pratech Brandsโ€™ revenue from operations grew to Rs 4.87 crore in FY23 from Rs 1.71 lakh in FY22. As per TheKredible, the companyโ€™s losses soared to Rs 25.39 crore during FY23 as compared to Rs 99 lakh in FY22.

Troo Good raises $9 Mn led by Puro Wellness

EntrackrEntrackr ยท 8m ago
Troo Good raises $9 Mn led by Puro Wellness
Medial

Troo Good, a millet-based snack brand, has raised $9 million in a new round led by Puro Wellness. Existing investors Oaks Asset Management and V Ocean Investments have also participated. Entrackr had exclusively reported about the funding earlier this month. The company has raised around Rs 132 crore (around $15.7 million) to date including its Rs 55 crore in a Series A led Oaks Management in November 2021. According to the startup data intelligence platform TheKredible, Troo Good will be valued at Rs 322 crore or $38 million post-allotment. The proceeds will be used to support the companyโ€™s efforts in expanding infrastructure, enhancing distribution capabilities, and driving product innovation. Founded in 2018 by Raju Bhupati, Troo Good is a Hyderabad-based company that sells millet-based snacks, including chikkis, protein bars, and nutri bars. The company claims to sell over 2 million millet chikkis and other millet snacks every day. While the firm has yet to report FY24 numbers, Troo Good recorded a modest 7% growth in revenue, rising to Rs 52.7 crore in the fiscal year ending March 2023. However, effective cost management enabled Troo Good to achieve profitability during the same period. It competes with Slurrp Farm, which raised $7.2 million in January this year, as reported exclusively by Entrackr.

F&B startup Nuvie raises $450K in pre seed round led by PedalStart

EntrackrEntrackr ยท 18d ago
F&B startup Nuvie raises $450K in pre seed round led by PedalStart
Medial

Snippets F&B startup Nuvie raises $450K in pre seed round led by PedalStart F&B startup Nuvie has raised $450K (about Rs 3.8 crore) in its maiden pre seed funding round led by startup accelerator PedalStart, along with participation from Mukesh Bansal (founder of Myntra, Cult.fit, and Nurix), Ayyappan R, Chanakya Gupta, and Arun Sharma. The proceeds will be allocated towards new product development, brand building initiatives, content creation, expanding distribution, and unlocking growth opportunities. Co founded in May 2024 by Prashant Paliwal and Hem Narayan, Nuvie aims to redefine healthy eating in India with โ€œbetter for youโ€ products such as improved milkshakes and chocolates that make wellness enjoyable and accessible. Its approach is to break the stigma and seriousness often associated with health, making it feel effortless, enjoyable, and part of a natural lifestyle. Having launched its lactose free Ready to Drink Protein Shake in three flavours, it is now introducing five new shake variants. The product pipeline also includes innovative offerings like a protein chocolate bar, a healthier spin on traditional chocolates, and protein infused cold coffee, or โ€œProffee.โ€ Nuvie says it has expanded its footprint and is now available in more than 100 premium retail stores across major metros like Delhi, Mumbai, Hyderabad, and Chennai. Its products are also present in over 200 gyms and are reaching customers nationwide through key quick commerce platforms such as Blinkit, Instamart, and BigBasket. The brand is focused on scaling its online presence via its own website and quick commerce channels. The Bengaluru based startup claims to have seen strong early traction, clocking over Rs 10 lakh in monthly revenue from its very first month of launch. It is now aiming to close CY 2025 at an ARR of Rs 10 crore.

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