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Vivriti Asset Management raises $20 Mn from Development Bank of Austria

EntrackrEntrackr · 1m ago
Vivriti Asset Management raises $20 Mn from Development Bank of Austria
Medial

Vivriti Asset Management raises $20 Mn from Development Bank of Austria Launched in March 2023, VIRAF is the country’s first asset-backed securitization (ABS) fund. It aims to boost funding for small loans to micro and small businesses, especially those led by women. Vivriti Asset Management, a credit investment strategies platform, has secured an additional $20 million in senior debt commitments for its Vivriti India Retail Assets Fund (VIRAF) from the Development Bank of Austria (OeEB). The latest investment from OeEB raises total commitments in VIRAF to $165 million, moving it closer to its $250 million target. Launched in March 2023, VIRAF is the country’s first asset-backed securitization (ABS) fund. It aims to boost funding for small loans to micro and small businesses, especially those led by women. The platform focuses on investing in asset-backed securities that are backed by granular retail and MSME loans, thereby supporting NBFCs and other financial institutions serving underserved borrower segments. As of March 2025, VIRAF has grown its assets under management (AUM) to around $140 million. Since launch, it has disbursed $200 million through 25 NBFCs, reaching over 350,000 individuals and 100,000 MSMEs — with more than 75% of the beneficiaries being women. Over the next ten years, VAM plans to invest over $1 billion in retail ABS. OeEB supports impact investments in developing countries by financing private sector projects that foster sustainable economic growth, particularly in green finance, SME development, and financial inclusion.

Exclusive: Snack brand Troo Good raises Rs 72 Cr in new round

EntrackrEntrackr · 9m ago
Exclusive: Snack brand Troo Good raises Rs 72 Cr in new round
Medial

Troo Good, a millet-based snack brand, has raised Rs 72 crore (approximately $8.6 million) from Oaks Asset Management, with participation from Puro Wellness and V Ocean Investments. The board at Troo Good has passed a resolution to issue 10,176 equity shares to raise the aforementioned sum, its regulatory filing accessed by Entrackr from Registrar of Companies shows. Existing investor Oaks Asset Management contributed Rs 37 crore, while V Ocean Investments and Puro Wellness invested Rs 10 crore and Rs 25 crore, respectively. The filing also mentioned that the company will use these funds to meet its working capital requirements. The company has raised around Rs 132 crore 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. Following the recent funding, Oaks Asset Management will hold a significant 28.89% of the capital, while Puro Wellness and V Ocean Investments will command stakes of 7.75% and 14.28%, respectively. 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.

Student housing startup Your-Space raises $8.2 Mn debt

EntrackrEntrackr · 3m ago
Student housing startup Your-Space raises $8.2 Mn debt
Medial

Exclusive: Student housing startup Your-Space raises $8.2 Mn debt Student housing startup Your-Space has raised Rs 70 crore (approximately $8.2 million) in debt led by existing investor Shantanu Rastogi, Managing Director of General Atlantic. The round also includes participation from other existing investors, including Castle Investments and Ajax Capital. The board at Your-Space has passed a special resolution to issue 10,14,493 compulsory convertible debentures (CCDs) at an issue price of Rs 690 each to raise Rs 70 crore, according to its January regulatory filing accessed from the RoC. Shantanu Rastogi led the round with an investment of Rs 25 crore, followed by new investor Ashish Kacholia, who will contribute Rs 10 crore. Other notable investments include Rs 7.5 crore each from Satyadharma Investments and Castle Investments, while Ajay Gupta’s family office, Ajax Capital, and Holy Basil Consultancy will invest Rs 5 crore each. The company has already received approximately Rs 51 crore out of Rs 70 crore while the rest of the amount will follow soon. The fresh proceeds will be used for working capital requirements, creditor payments, and other general business operations, the filings added. Notably, the conversion of debentures into equity shares will be done at the valuation of Rs 185 crore against the above-mentioned sum at a later date, the filings further added. Your-Space is a student housing company offering affordable PGs, hostels, and co-living spaces for both girls and boys. With over 60 smart spaces, the company integrates tech-enabled safety features, including facial recognition, biometrics, and digital locks. According to startup data intelligence platform TheKredible, the company has raised around $17.6 million in funding including both debt and equity including a $10 million Series A round raised in January 2022 led by Shantanu Rastogi. The Delhi-based company reported over 20% year-on-year growth in operating revenue to Rs 142.7 crore in FY24, compared to Rs 117.2 crore in FY23. The Delhi-based company also posted a loss of Rs 30.7 crore during the same period.

Smartworks raises more than $20 Mn from Keppel and others

EntrackrEntrackr · 1y ago
Smartworks raises more than $20 Mn from Keppel and others
Medial

Co-working space solutions provider Smartworks has raised Rs 168 crore ($20.24 million) from a group of investors including Keppel, Ananta Capital Ventures Fund I, Plutus Capital, family trusts, and HNIs. The capital from the fundraise will be deployed towards growth and expansion of the business and meet general corporate expenses, Smartworks said in a statement. To date, the co-working space firm has raised over $50 million, including a $25 million raise from the Singapore-based Keppel Land in 2019. Smartworks provides managed office spaces by leasing properties from real estate developers and subsequently subleasing them to enterprises or companies. The company has a presence across Delhi-NCR, Kolkata, Bengaluru, Chennai, Pune, Hyderabad, and others. As of March 2024, Smartworks has a presence in as many as 13 cities including Bengaluru, Kolkata, Delhi NCR, Mumbai, and Pune, and a portfolio of 41 centers spanning across 8 million square feet. As per startup data intelligence platform TheKredible, NS Niketan LLP, which includes founder Neetish Sarda, among others, controls more than 45% stake in the company as of the last funding round. Smartworks also said that promoters continue holding majority shareholding in the company. Smartworks’ revenue from operations surged 97.5% to Rs 711 crore in FY23 from Rs 360 crore in FY22. The firm also saw a 44.29% surge in losses which rose to Rs 101 crore in FY23 as compared to Rs 70 crore in the previous fiscal year. Recently, co-working firm Awfis got listed on the stock exchange and became the first company from this space to do so.

Cybersecurity asset management startup Axonius raises $200M led by Accel, Lightspeed

IndianStartupNewsIndianStartupNews · 1y ago
Cybersecurity asset management startup Axonius raises $200M led by Accel, Lightspeed
Medial

Cybersecurity asset management and SaaS management startup, Axonius, has raised $200 million in a Series E extension funding round led by Accel and Lightspeed Venture Partners. The funding will be used to support the company's global expansion and innovation in response to the increasing demand for its platform. Axonius provides a unified platform for managing digital infrastructure components, boasting over 1,000 platform integrations and offering a comprehensive view of assets, relationships, and business context. The company recently launched its Axonius 6.0 platform, which combines Cyber Asset Attack Surface Management, SaaS Security Posture Management, and SaaS Management Platforms.

Co-working startup Incuspaze raises $8 Mn in maiden funding

EntrackrEntrackr · 11m ago
Co-working startup Incuspaze raises $8 Mn in maiden funding
Medial

Workspace solution provider Incuspaze has raised around $8 million led by the India Inflection Opportunity Fund (IIOF) and other financial institutions in its maiden funding round. This strategic investment will beef up Incuspaze’s capabilities to provide top-tier workspace solutions to enterprises, MSMEs, and startups, the company said in a statement. Incuspaze claims that it has a portfolio of 3 million square feet in 18 cities across 44 locations. The firm recently leased 220,000 square feet of space in Gurugram’s M3M Urbana project. Led by Sanjay Choudhary, the eight-year-old firm aims to expand its portfolio in southern India, with a focus on Bengaluru, Chennai and Hyderabad. PhonePe, Byju’s, Flipkart, and Girnarsoft, among others are its top clients. For the fiscal year ending in March 2023 (FY23), Incuspaze reported a more than three fold jump in its operating revenue to Rs 50 crore against Rs 14.84 crore in FY22. During FY23, it managed to cut losses to Rs 98 lakh from Rs 5 crore. Incuspaze is yet to file its annual report for the last fiscal year (FY24). According to a June 2024 report by property consultancy Colliers, the flexible office space segment across the top-6 cities in India registered its highest ever quarterly demand in the April-June period. Bengaluru and Delhi-NCR alone accounted for 65% of the overall demand. In November last year, Pantomath Financial Services Group closed its pre-IPO fund called the India Inflection Opportunity Fund (IIOF) at $60 million. While Incuspaze has not commented on its IPO plans, the strategic money from the IIOF hints at a definitive public listing roadmap as the investment firm majorly invests in IPO-bound companies. In the co-working space, Awfis became the first Indian startup to get listed on the stock exchange. Recently, another co-working startup Smartworks took a step towards potential public listing and converted itself into a public company. Entrackr exclusively reported the development in the first half of July.

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