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Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool

EntrackrEntrackr · 1m ago
Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool
Medial

Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool Loyalty management firm Capillary Technologies is inching closer towards its public listing as the Bengaluru-based firm received board nod to float its Rs 2,250 crore or $265 million Initial Public Offering (IPO). The board at Capillary Technologies has passed a special resolution to raise up to Rs 500 crore ($59 million) via fresh issue of equity of shares and an offer for sale of up to an aggregate amount of Rs 1,750 crore ($205 million), its regulatory filing accessed from the Registrar of Companies show. In a separate move ahead of the IPO, the firm has expanded its employee stock ownership plan (ESOP) pool by 123%, increasing it from 32.6 lakh to 72.91 lakh options, which now account for 9.04% of its total share capital. According to Entrackr’s estimates, the expanded ESOP pool is valued at around Rs 212 crore, out of a total pool size of Rs 384 crore. Founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, Capillary Technologies is a SaaS company that helps brands strengthen customer loyalty. Its platform provides insights that enable brands to offer real-time, personalized, and consistent experiences across multiple channels. As per the company, it operates across the US, India, the Middle East, and Asia, supporting over 100 loyalty programs and partnering with more than 250 brands, including Tata, PUMA, Shell, and Al-Futtaim, among others. Capillary Technologies has raised more than $240 million so far, including a $140 million Series D round completed in February last year. From this amount, $20 million is allocated for employee payouts through its stock ownership plan (ESOP). Earlier this month, the company expanded its presence in North America by acquiring Kognitiv, a provider of omnichannel loyalty solutions, as part of its strategic growth plan.

Filter Capital makes final close of Fund I Rs 800 Cr

EntrackrEntrackr · 1y ago
Filter Capital makes final close of Fund I Rs 800 Cr
Medial

Filter Capital, a technology-focused investment firm, has made the final close of its first fund at Rs 800 crore (approximately $96 million). The Mumbai-based fund received around 60% of the capital commitments from domestic limited partners (LPs), with the rest coming from international investors. According to an ET report, the LPs in the round included institutional investors and family offices such as HDFC Fund of Funds, Small Industries Development Bank of India, DSP family office, Amansa Capital founder Akash Prakash and Dream Sports cofounder Harsh Jain. Launched by Nithin Nayar and Sumit Sinha in 2018, Filter Capital will invest in Series B and C rounds in the range of $15-20 million. Filter Capital India Fund I has so far invested about Rs 225 crore from its corpus in four entities — enterprise loyalty software provider Capillary Technologies, bus mobility platform Chalo Mobility, e-commerce logistics services firm LoadShare Networks and healthcare enterprise software company THB. Recently, its portfolio firm Capillary Technologies extended its Series D round to $140 million, raising $95 million in secondary transactions to provide exits to existing investors and employees.

Capillary Technologies set to raise $90-100 Mn via secondary

EntrackrEntrackr · 1y ago
Capillary Technologies set to raise $90-100 Mn via secondary
Medial

Customer loyalty and engagement technology solutions provider Capillary Technologies is all set to raise $90-100 million in a secondary round, sources aware of the development told Entrackr. “Existing investors are selling their stakes in Capillary and this is an extension to the previous round,” said one of the sources requesting anonymity. In June 2023, Capillary announced the closure of its $45 million series D round from Avataar Ventures along with its LPs (Pantheon, 57Stars, and Unigestion), Filter Capital, and Innoven Capital. Capillary offers a comprehensive view of consumers, and unified, cross-channel strategies that deliver a real-time omnichannel, personalised, and consistent experience for customers. It has a presence across the United States, India, the Middle East, Asia, et al. Founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, the company works with over 100 loyalty programs, and over 250 brands including the likes of Tata, PUMA, Shell, Al-Futtaim among others. As per sources, Capillary is likely to close this transaction soon. Queries sent to Capillary did not elicit an immediate response. We’ll update the story in case we hear from them. Earlier, Capillary had claimed that the US accounts for more than a third of its revenue. The firm also acquired three companies in the US – Persuade, Brierley+Partners, and Tenerity’s Digital Connect. While Capillary is yet to disclose its FY23 financial results, it reported Rs 223 crore in revenue from operations during FY22. The firm’s losses also jumped from Rs 22.8 crore to Rs 100 crore during FY22.

Exclusive: Peak XV-backed Jupiter expands ESOP pool

EntrackrEntrackr · 11m ago
Exclusive: Peak XV-backed Jupiter expands ESOP pool
Medial

Neobanking platform Jupiter has expanded its employee stock option plan (ESOP) pool by Rs 40 crore (nearly $5 million). With this, the firm has joined a host of growth and late-stage companies which have expanded their ESOP pool in the ongoing calendar year. Jupiter has approved the issuance of 21,665 ESOP options to the “Jupiter Employee Welfare Trust, its regulatory filing accessed from the Registar of Companies (RoC) shows. Each equity share is priced at Rs 18,826.29, including premium, making the total ESOP worth Rs 40.7 crore. In March 2022, Jupiter had its last ESOP buyback worth $4 million for 21 employees. According to the filing, Jupiter’s total ESOP pool formed 7.89% of the total share capital. The development comes at a time when Jupiter is expanding its product portfolio and it recently received wallet licence from the Reserve Bank of India (RBI). The firm also scooped up strategic funding from its existing investor for its non-banking financial (NBFC) business Amica Finance. Entrackr had exclusively reported the development in June. Jupiter was last valued at around $710 million during a $86 million Series C round in December 2021. It has raised over $160 million to date from QED Investors, Peak XV and Matrix Partners among others. As per startup data intelligence platform TheKredible, Jupiter achieved a total revenue of Rs 56 crore but reported a loss of Rs 327 crore in FY23. Jupiter competes with the likes of Niyo, Slice, and Fi among others.

From Shadowfax To Capillary Technologies — Indian Startups Raised $381 Mn This Week

Inc42Inc42 · 1y ago
From Shadowfax To Capillary Technologies — Indian Startups Raised $381 Mn This Week
Medial

Funding in the Indian startup ecosystem surged in the last week of February, with a total of $381.4 million raised across 27 deals. Logistics startup Shadowfax secured a $100 million Series E funding round led by TPG NewQuest. SIDBI emerged as the most active investor, investing in NewSpace Research & Technologies and Digantara. E-commerce was the most funded sector, with seven deals raising $55.4 million. Enterprisetech also performed well, with Capillary Technologies securing $104 million in a secondary funding round. Other news includes IPO plans for Digital Insurance, developments at BYJU'S, and a joint venture between RIL, Viacom18, and Disney. Kedaara Capital aims to raise India's largest private equity fund, Rockstud Capital closes its second alternative investment fund, and Peak XV announces the third cohort of its women entrepreneurs-focused Spark program. Finally, Koo is rumored to be acquired by Dailyhunt, and healthcare fintech startup QubeHealth plans to raise $6-9 million in a Series A funding round.

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