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Cava Athleisure secures Rs 40 Cr in Series A round led by Sharrp Ventures

EntrackrEntrackr · 3h ago
Cava Athleisure secures Rs 40 Cr in Series A round led by Sharrp Ventures
Medial

Cava Athleisure secures Rs 40 Cr in Series A round led by Sharrp Ventures Everyday-wear brand Cava Athleisure has raised Rs 40 crore in a Series A funding round led by Sharrp Ventures, which invested Rs 21 crore, with participation from V3 Ventures and existing investor Spring Marketing Capital. Following the funding round, Cava is valued at Rs 215 crore. The Bengaluru-based startup had earlier secured $1.14 million in a seed funding round from Spring Marketing Capital and others in June 2024. The proceeds will be deployed to accelerate new product development, strengthen brand building, expand omnichannel distribution, and deepen the leadership team, Cava Athleisure said in a press release. Co-founded in 2022 by Ria and Shreya Mittal, Cava Athleisure is a D2C premium, sustainable, and trendy athleisure brand catering to men and women. The company focuses on comfortable, high-quality, and versatile clothing such as leggings, joggers, and tops made using BCI cotton and recycled polyester, targeting young, fitness-conscious consumers. The brand aims to redefine everyday wear through a function-first, design-led approach. Built for the everyday athlete, it designs products with an emphasis on fabric quality, comfort, and India-relevant fits, catering to consumers seeking versatile apparel that transitions seamlessly across fitness, work, and daily life. Cava said it has scaled rapidly and is projected to close FY26 with Rs 40 crore in revenue. The company operates its own production facility, overseeing design, pattern-making, and quality control. The brand primarily targets Gen Z and millennials aged 15–30 who are seeking versatile, stylish, and sustainable loungewear or workout wear.

HexaHealth secures fresh funds led by Orios VP

EntrackrEntrackr · 9m ago
HexaHealth secures fresh funds led by Orios VP
Medial

Healthcare platform HexaHealth is set to raise Rs 37 crore (approximately $4.3 million) in its ongoing Series A round led by Orios Venture Partners with the participation of Enzia Ventures and existing investors including 3one4 Capital, Chiratae Ventures, and Omidyar Network. The board at HexaHealth passed a special resolution to issue 49,941 Series A3 compulsory convertible preference shares at an issue price of Rs 6,848 to raise the aforementioned sum, as per its regulatory filing. Orios Venture Partners will lead the round with an investment of Rs 12 crore, followed by Enzia Ventures contributing Rs 6 crore. Other investors, including 3one4 Capital, Chiratae Ventures, ITI Growth Opportunities Fund, and Omidyar Network, will each invest Rs 4 crore. The proceeds will be used for working capital, marketing, and general corporate purposes. Post-allotment, the company's estimated valuation is Rs 314 crore (approximately $37 million). Founded in 2021 by Vikas Chauhan, Ankur Girgas, and Aman Khanna, HexaHealth offers a full-stack solution for patients requiring surgery by partnering with leading hospitals. HexaHealth has raised $11.5 million to date, including a $4.5 million seed round in September 2021.

Exclusive: Eduvanz secures bridge round at 35% lower valuation

EntrackrEntrackr · 11m ago
Exclusive: Eduvanz secures bridge round at 35% lower valuation
Medial

Exclusive: Eduvanz secures bridge round at 35% lower valuation Education loan provider Eduvanz has secured Rs 25.52 crore in a bridge funding round co-led by Juvo Ventures and Capria Fund, with additional participation from Peak XV and Unitus Ventures. Eduvanz's board has approved a special resolution to issue 26,405 preference shares at an issue price of Rs 9,667 each, raising Rs 25.52 crore, according to a regulatory filing accessed from the RoC. Capria Fund and Juvo Ventures contributed Rs 8.65 crore and Rs 8.57 crore, respectively, while Peak XV and Unitus Ventures invested Rs 4.28 crore and Rs 4 crore. According to the filings, the newly raised funds will be utilized for working capital, product development, and marketing initiatives. Entrackr estimates Eduvanz's post-allotment valuation at approximately Rs 551 crore, reflecting a 35% decline from its last extended Series B round, where the company was valued at Rs 850 crore. Eduvanz provides loans to students to finance their school, coaching, and test prep fees. Salaried and self-employed individuals can also seek loans from it to fund their up-skilling expenses. After the bridge round, Peak XV Partners will hold a 31.72% stake in the company, while Juvo Ventures and Capria Fund will own 4.89% and 3.14%, respectively. The new funding is coming after a gap of more than two years for Eduvanz. In December 2022, it scooped up $12.6 million in its extended Series B round from new and existing backers. Entrackr exclusively reported the development. Eduvanz competes with well-funded firms such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Auxilo.

Bluestone secures debt ahead of IPO

EntrackrEntrackr · 8m ago
Bluestone secures debt ahead of IPO
Medial

Omnichannel jewellery retailer Bluestone has raised Rs 40 crore (approximately $4.7 million) in debt funding, led by BlackSoil with participation from Caspian Impact Investments, ahead of its planned initial public offering (IPO). The board at Bluestone allotted 800 non-convertible debentures at an issue price of Rs 5,00,000 each to raise the aforementioned sum, according to its regulatory filing with the Registrar of Companies (RoC). Blacksoil led the debt round with Rs 30 crore investment ($3.5 million) while Caspian Impact Investments participated with Rs 10 crore. Recently, in December 2024, Bluestone filed a draft red herring prospectus (DRHP) with SEBI for an IPO, which consists of a fresh issue of equity shares up to Rs 1,000 crore and an offer for sale (OFS) of up to 2.398 crore equity shares to provide a complete exit to Samma Capital, Ivycap Ventures, and Kalaari Capital. Founded in 2011, the omnichannel jewellery brand BlueStone specializes in high-value jewellery, offering a range of gold and diamond rings, pendants, chains, and earrings through its retail stores and online platform. According to the DRHP, it operates over 203 stores across 86 cities. According to startup data intelligence platform TheKredible, BlueStone has raised approximately $262 million across multiple funding rounds, including a Rs 900 crore pre-IPO round led by Prosus, out of which Rs 300 crore is secondary in August last year. In FY24, BlueStone recorded a 64% year-on-year increase in revenue, rising to Rs 1,266 crore from Rs 771 crore in FY23. During the same period, the company also narrowed its losses by 15%, reducing them to Rs 142 crore in FY24.

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