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Smallcase raises $50 Mn in Series D led by Elev8

EntrackrEntrackr · 3m ago
Smallcase raises $50 Mn in Series D led by Elev8
Medial

Smallcase raises $50 Mn in Series D led by Elev8 Wealthtech startup Smallcase has raised $50 million in its Series D round led by Elev8 Venture Partners, a $200 million growth-stage fund focused on high-potential Indian startups. The round also saw participation from State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures. The capital will be used to expand Smallcase’s investment product offerings across asset classes and strengthen its relationships with retail investors and ecosystem partners, Smallcase said in a press release. The new round is coming after a gap of more than 3.5 years. Smallcase has raised around $120 million to date, including $40 million in a Series C round led by Faering Capital in August 2021. According to the startup data intelligence platform TheKredible, Peak XV is the largest external stakeholder, followed by Faering Capital and Blume Ventures. Launched in 2016, Smallcase offers a model portfolio platform that has served over 10 million investors. It also provides technology solutions to more than 250 financial institutions, including research firms, advisors, wealth managers, and brokerages. The platform recently expanded its offerings through a joint venture with Zerodha to launch an asset management company focused on index funds and ETFs. Smallcase's revenue from operations surged to Rs 67.4 crore in FY24 from Rs 30.6 crore in FY23. A drop in advertising and employee benefits enabled the company to reduce its losses by 74.4% to Rs 34 crore in the last fiscal year. According to TheKredible, Indian wealthtech startups such as Neo, Dezerv, Centricity, Stable Money, Fisdom, InvestorAi, and Wealthy have garnered nearly $250 million in funding across 15 deals in the past 18 months. Elev8 Venture Partners, backed by South Korea’s KB Investment, focuses on B2B SaaS, enterprise tech, consumer tech, and fintech. This is its third investment after supporting identity verification platform IDfy and astrotech platform Astrotalk.

Content-commerce platform Lehlah raises Rs 12.5 Cr in seed round

EntrackrEntrackr · 3m ago
Content-commerce platform Lehlah raises Rs 12.5 Cr in seed round
Medial

Lehlah, a content-commerce platform that helps influencers earn money by recommending products, has raised Rs 12.5 crore ($1.46 million) in seed round led by Gruhas, an investment firm co-founded by Nikhil Kamath of Zerodha and Abhijeet Pai of Puzzolana Group. The proceeds will be used to introduce more features, grow its team, and strengthen its position in India’s booming influencer-led shopping space. Founded in December 2022 by Ashna Ruia, daughter of Essar Group director Prashant Ruia, Lehlah partners with major e-commerce platforms like Myntra, Meesho, Flipkart, and Nykaa, along with D2C brands such as Libas and Foxtale. The platform, which initially focused on fashion and beauty, is now expanding into home accessories and gadgets. The brand operates with a 50-member team, with its marketing division in Mumbai and the tech team in Bengaluru. Lehlah follows a commission-based model where brands pay the platform when sales happen through influencers. Influencers using Lehlah currently earn between Rs 50,000 and Rs 1,00,000 per month, showing the platform’s potential to create sustainable income for creators.

CapGrid Solutions raises $5 Mn led by Anicut Capital

EntrackrEntrackr · 5m ago
CapGrid Solutions raises $5 Mn led by Anicut Capital
Medial

CapGrid Solutions raises $5 Mn led by Anicut Capital B2B manufacturing startup CapGrid Solutions has raised $5 million (around Rs 45 crore) in a funding round led by Anicut Growth Fund. The round also saw participation from existing investors Nexus Venture Partners and Axilor Ventures. Earlier in January 2023, CapGrid had raised $7 million led by Nexus Venture Partners. The round closed at a valuation of Rs 305 crore after the investment, according to an ET report. The proceeds will be used for global expansion and investments in technology to improve supply chain and operational efficiencies. Founded in 2020 by Tiwari and Himanshu Singh Raghuvanshi, CapGrid helps car part makers and suppliers by making it easier to find and buy the materials they need. It helps OEMs procure precision parts and components from suppliers that it has tied up with. CapGrid currently operates around 11 fulfilment centres and has 50 strategic supply manufacturing partners. The Gurugram-based startup claims to have recorded a revenue of around Rs 99 crore in the last fiscal year and expects to reach Rs 220 crore in FY25.

FIITJEE-backed PlanetSpark raises fresh funds in ongoing round

EntrackrEntrackr · 1y ago
FIITJEE-backed PlanetSpark raises fresh funds in ongoing round
Medial

Edtech platform PlanetSpark has raised Rs 141.8 crore or $17 million in an extended Series B round led by Prime Venture Partners via Seabright. The round also saw the participation of InnoVen Capital, Alteria Capital, myPat, GGT3 Ventures, Ashish Gupta, and IAN Investors. Its co-founders Maneesh Dhooper and Kunal Malik also invested in the firm. The fresh funding for the Gurugram-based edtech company has come after a gap of 26 months. The funding also includes Rs 30 crore debt while the rest is in the form of equity. The board at PlanetSpark has passed a special resolution to issue 887 compulsory convertible preference shares (CCPS) at an issue price of Rs 3,10,000 per share and 2,271 CCPS & 1,974 equity shares at an issue price of Rs 1,51,462.32 a piece for a consideration of Rs 91.8 crore or $11 million. The company also issued 5,000 non-convertible debentures (NCDs) to raise Rs 50 crore or $6 million in debt from InnoVen Capital and Alteria Capital, per the company’s regulatory filings with the Registrar of Companies. Note: The information is based on the four separate regulatory filings filed in October and November of 2022 and May and November of 2023. Prime Venture Partners led the equity round with Rs 49.7 crore followed by InnoVen Capital and Alteria Capital which invested Rs 43.6 crore and Rs 10.9 crore, respectively. Co-founders Maneesh Dhooper and Kunal Malik also joined with Rs 14.95 crore each. FIITJEE powered myPAT (Edfora Infotech), GGT3 Ventures, Ashish Gupta, and IAN Investors poured in the remaining sum. As per the startup intelligence platform TheKredible. the company has mopped up over $34 million to date in debt and equity capital across several rounds. Previously, it raised $13.5 million in the Series B round in December 2021. While the company’s financial picture in the ongoing fiscal year would be known when it discloses FY24 results, PlanetSpark’s revenue from operations grew 41.3% to Rs 42.4 crore during FY23 as compared to Rs 30 crore in FY22. As per TheKredible, the firm managed to control its losses by 18% to Rs 89.5 crore in FY23 against Rs 109.4 crore in FY22. PlanetSpark offers live 1:1 classes in public speaking, creative writing, storytelling, debate, podcasting, stand-up comedy, and poetry for the K8 generation.

illumine raises $2.5 Mn seed funding round led by Prime Venture Partners

EntrackrEntrackr · 28d ago
illumine raises $2.5 Mn seed funding round led by Prime Venture Partners
Medial

illumine, a startup transforming early childhood education through AI, has raised $2.5 million in a seed funding round led by Prime Venture Partners. The Bengaluru-based company had previously raised $779K in the same round. The proceeds will be utilized to accelerate its product development and international expansion. Co-founded in 2018 by Navneet Rastogi, Purva Goyal, and Sourabh Agarwal, illumine is a full-stack childcare management platform. It addresses the hassles of disjointed systems and outdated manual processes associated with childcare education. The company solves this by offering a vertical AI SaaS platform built specifically for childcare. The startup claims that its platform has been used by more than 3,000 centres across 56 countries, including the U.S., UAE, Southeast Asia, Europe, and India.

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