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Exclusive: Fireside invests in lab grown jewellery brand Aukera

EntrackrEntrackr · 11m ago
Exclusive: Fireside invests in lab grown jewellery brand Aukera
Medial

Lab-grown jewellery brand Aukera has raised Rs 26.7 crore (approximately $3.2 million) in its Series A round led by Fireside Ventures. This is the first institutional investment for a year-old omnichannel brand, which mostly deals in diamonds. The board at Aukera Jewellery has passed a special resolution to issue 10 equity and 8,155 Series A CCPS at an issue price of Rs 32,713 each to raise Rs 26.7 crore, its regulatory filing sourced from the Registrar of Companies (RoC) shows. Fireside Ventures spearheaded the Series A round with Rs 23.75 crore while Sparrow Capital and Eternal Emerging Enterprises participated with Rs 1.39 crore and 1.57 crore, respectively. The company will use these funds for expansion and general corporate business, as decided by the board, the filing further added. As per TheKredible’s estimates, the company has been valued at around Rs 124 crore or $15 million post-allotment. This round appears to be an ongoing one and it may raise more capital. Following the fresh proceeds, Fireside Ventures holds a significant 19.20% stake in the company while Sparrow Capital and Eternal Enterprises will command 7.59% and 5.89% of Aukera Jewellery. With the fundraise, the company has also expanded its employee stock options pool with addition of 1,180 options. At present, its total ESOP pool consists of 1,896 options. According to TheKredible estimates, Aukera’s overall ESOP pool is worth Rs 6.20 crore. Founded in 2023, Aukera is a women-centric jewellery brand that offers lab-grown diamond jewellery in white, rose, yellow gold, and platinum. It sells its products through its website and has 2 stores in Bengaluru. The Bengaluru-based firm competes with a clutch of firms including Fiona Diamonds, Limelight Lab Grown Diamonds, and Jewelbox. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line.

Nabhdrishti Aerospace raises $3 Mn led by Accel

EntrackrEntrackr · 3m ago
Nabhdrishti Aerospace raises $3 Mn led by Accel
Medial

Nabhdrishti Aerospace raises $3 Mn led by Accel Aerospace startup Nabhdrishti Aerospace has raised $3 million (around Rs 25 crore) in a funding round led by Accel, along with participation from IIMA Ventures and its existing investors. The proceeds will be used to boost the development and testing of its engine prototypes, as well as talent acquisition, Nabhdrishti Aerospace said in a press release. Co-founded in 2023 by Chouhan, Arjun Srivatsa, and Antanu Sadhu, Nabhdrishti Aerospace is building small gas turbines that will cater to hybrid urban air mobility, unmanned aerial vehicles (UAVs), and decentralized power generation appliances. The company claims its engine serves a dual purpose — propulsion and power. It can cater to hospitals, heavy vehicles, manufacturing segments, as well as light aircraft, helicopters, and hybrid electric flights. According to the Bengaluru-based company, it is developing cutting-edge technologies designed to run on sustainable fuels, including green hydrogen, to power everything from UAVs to next-generation air mobility platforms. Nabhdrishti Aerospace focuses on building sustainable, indigenous propulsion systems to reduce India’s reliance on imported aerospace technology. It aims to generate early revenue while expanding its team, with new hires expected across engineering, production, and customer support by the end of the year. Over the next few years, the company plans to steadily scale its workforce to support its growing product portfolio and customer base. Other notable startups in this space include Garuda Aerospace, Bellatrix Aerospace, and Agnikul.

T-Hub Launches Funding Programme For Defence And Aerospace Innovation

OutlookIndiaOutlookIndia · 7m ago
T-Hub Launches Funding Programme For Defence And Aerospace Innovation
Medial

T-Hub, a start-up incubator, has launched the SIDBI-T-Hub Funding Programme to support the domestic defence and aerospace sectors. The company has also signed strategic MoUs with key industry players, including KAVACHH, IISSR, BDL, Collins Aerospace, and more. These collaborations aim to facilitate knowledge exchange, technological progress, and create an ecosystem for innovation. The funding programme will bridge the financial gap for emerging start-ups in these sectors, nurturing innovation and addressing national security needs. The National Defence and Aerospace Innovation Summit (DIAS) provided a platform for start-ups to showcase disruptive technologies and pitch ideas to experts and investors in the field.

IndiGo Ventures makes first close of debut fund at Rs 450 Cr, invests in Jeh Aerospace

EntrackrEntrackr · 8d ago
IndiGo Ventures makes first close of debut fund at Rs 450 Cr, invests in Jeh Aerospace
Medial

IndiGo Ventures makes first close of debut fund at Rs 450 Cr, invests in Jeh Aerospace IndiGo Ventures, the corporate venture capital arm of airline company IndiGo, announced the first close of its maiden fund at Rs 450 crore. Launched in August 2024 with regulatory approval from SEBI to raise Rs 600 crore, the fund focuses on investing in early-stage startups driving innovation in aviation and allied sectors. It targets companies at the pre-Series A to Series B stages, emphasizing long-term strategic alignment. With the first close completed, the firm approved an investment in Jeh Aerospace, a company operating in aerospace and defense manufacturing, for an undisclosed amount. This step is part of IndiGo’s innovation agenda, which combines operational expertise with capital to support entrepreneurs addressing challenges in aerospace and related domains. “This investment also strengthens the Indo-U.S. aerospace ties, advances Make-in-India and accelerates innovation, contributing to realising India’s potential to become a global aerospace and aviation hub,” said Pieter Elbers, chief executive officer at IndiGo. Jeh Aerospace will use the investment to scale its digital manufacturing infrastructure, enhance its AI-driven production optimization and supply chain integration platforms, and attract engineering and production talent. Founded by industry veterans Vishal Sanghavi and Venkatesh Mudragalla, Jeh Aerospace provides manufacturing, engineering, and supply chain management solutions to the global aerospace and defense industry. Within its first year of operations, Jeh Aerospace has scaled to a 100-member team of engineers and technicians, delivered 100,000 flight-critical aeroengine components and precision tools meeting AS9100 standards, and secured $100 million in long-term contracts with global aerospace companies. In January last year, the Hyderabad-based startup raised $2.75 million in a seed funding round led by General Catalyst, along with participation from angel investors like Pratyush Kumar and Dwarkanath Srinivas.

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