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Crion Technologies raises Rs 3.5 Cr led by SIG Tattva

EntrackrEntrackr · 2d ago
Crion Technologies raises Rs 3.5 Cr led by SIG Tattva
Medial

Crion Technologies, a company developing advanced digital solutions in IoT, AI, AR/VR, and cloud technologies, has raised Rs 3.5 crore in a funding round led by SIG Tattva, the corporate venture capital arm of Somany Impresa Group. According to Crion, its flagship digital twin platform, Clonos, aims to redefine asset management by providing real-time insights and predictive capabilities, helping enterprises drive efficiency, reduce downtime, and make smarter decisions. Co-founded in 2016 by Rahul K, Karthik Pondugula and Rathees Paneerselvam, Crion Technologies specializes in digital twin solutions and other advanced digital technologies, including AI, IoT, and AR/VR, to optimize industrial asset management, maintenance, and operational efficiency for the manufacturing and process industries. The company's offerings include its Clonos™ platform for 3D digital twin creation and the "Augmented Workforce" vision for training, maintenance, and efficiency. “What excites us most is working with an industry group that truly understands how transformative technologies can reshape manufacturing, utilities, and infrastructure. Together, we can unlock meaningful impact at scale,” said Vishnuvardhan Jayachandran, CEO of Crion Technologies. Alongside the investment, SIG Tattva also launched its flagship ‘Pilot Before Pitch (PBP)’ program.

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Proptech startup Spintly raises Rs 3.5 Cr in extended seed round

EntrackrEntrackr · 8m ago
Proptech startup Spintly raises Rs 3.5 Cr in extended seed round
Medial

Proptech startup Spintly has raised Rs 3.5 crore in an extended seed funding round led by Spyre VC, along with participation from Accel India, Chakra Growth Fund, Alumni Ventures, and Doctor Technology. The company had previously raised $5.36 million from Letsventure, Riso Capital, Sucseed Indovation, and Accel Nest. The proceeds will be utilized to accelerate its market reach, increase its presence in different countries, strengthen senior management functions, and expand the scope of its smart building solutions by leveraging AI and machine learning, Spintly said in a press release. Co-founded in 2017 by Rohin Parkar and Malcolm Dsouza, Spintly leverages cutting-edge technologies to empower the way buildings operate by providing wireless, cloud-based access control solutions and smart building systems. With a focus on simplicity, scalability, and innovation, it eliminates the need for legacy systems by leveraging IoT, Edge AI, and smartphone-based technology to create seamless and efficient user experiences.

CollegeDekho raises Rs 30 Cr from Lighthouse Canton

EntrackrEntrackr · 5m ago
CollegeDekho raises Rs 30 Cr from Lighthouse Canton
Medial

CollegeDekho, an online platform that helps students choose the right college, has raised Rs 30 crore (around $3.5 million) from Lighthouse Canton. Earlier in December 2021, CollegeDekho closed a $35 million Series B round led by Winter Capital, ETS Strategic Capital, Calega, and Man Capital. With the latest fundraise, the company will enhance its technological infrastructure, expand its reach, and ensure seamless operations during the upcoming admission season. Founded by Ruchir Arora, CollegeDekho has helped over two lakh students gain admission into Indian colleges over the last seven years. It also partners with universities to offer skill-based degree programs. To strengthen its leadership, the company recently hired two experienced professionals. Arshad Mumtaz joined as chief operating officer of the retail business, bringing nearly 30 years of experience. Deep Prakash joined as Head of Sales—retail Business and GetMyUni, with over 20 years of expertise in sales and growth. As per TheKredible, CollegeDekho’s revenue from operations increased to Rs 216 crore in FY24 from Rs 163 crore in FY23. Its losses remained flat at Rs 129 crore in the last fiscal year.

Nazara raises Rs 495 Cr from Arpit Khandelwal and Mithun Sacheti-led Axana Estates

EntrackrEntrackr · 7m ago
Nazara raises Rs 495 Cr from Arpit Khandelwal and Mithun Sacheti-led Axana Estates
Medial

Nazara raises Rs 495 Cr from Arpit Khandelwal and Mithun Sacheti-led Axana Estates Nazara Technologies Limited has raised Rs 495 crore (nearly $60 million), led by Axana Estates LLP, whose designated partners include Arpit Khandelwal, founder and managing partner of Plutus Wealth Management LLP, and Mithun Sacheti, founder of Caratlane. This strategic partnership aims to propel Nazara toward global gaming leadership by leveraging the collective expertise and resources of its new investors alongside its existing promoters, Vikash and Nitish Mittersain. Post-investment, Axana Estates will acquire approximately a 5.40% stake in Nazara, subject to shareholder and regulatory approvals. Moreover, Plutus Wealth Management LLP and Axana Estates LLP, in collaboration with Persons Acting in Concert (PACs), have announced plans to launch a public open offer to acquire an additional 26% stake in Nazara Technologies Limited. The new investment will support the company's growth through strategic acquisitions and market expansion. The transaction also strengthens Nazara's mobile gaming portfolio with the acquisition of two popular mobile game IPs, 'CATS: Crash Arena' and 'King of Thieves,' from ZeptoLab for $7.7 million (Rs 67 crore). This move bolsters Nazara's position in the global mobile gaming market, with the titles to be published under the "Nazara Publishing" banner. In the September quarter (Q2 FY25), Nazara Technologies reported a 7.3% year-on-year increase in revenue to Rs 318.94 crore, while its profit grew by 10.85% to Rs 21.97 crore.

EV two-wheeler manufacturer BGauss raises Rs 161 Cr

EntrackrEntrackr · 8m ago
EV two-wheeler manufacturer BGauss raises Rs 161 Cr
Medial

EV two-wheeler manufacturer BGauss raises Rs 161 Cr Electric two-wheeler manufacturer BGauss has raised Rs 161 crore ($18.6 million) in funding from Bharat Value Fund (BVF). The round includes a mix of primary and secondary capital. Earlier in April 2022, BGaus had raised Rs 52 crore (around $6 million) from a group of investors led by Darshan Patel, founder of Vini Cosmetics Pvt. Ltd. The proceeds will be used to expand its presence in India and overseas. It also plans to allocate the funds toward capital expenditures, marketing efforts, and enhancing in-house research and development (R&D) for upcoming product launches. Founded in 2020 by Hemant Kabra, BGauss scooters integrate design with AI-enabled technology, providing comfort, low maintenance, power, fast charging, IoT integration, and convenience. The Pune-based startup currently claims to serve around 45,000 customers and plans to expand its dealership network from 120 to 500, with a target of establishing over 1,000 touchpoints across India. BGauss’s manufacturing capacity, currently at 100,000 units per year, is also set to scale as demand increases. BGauss plans to launch two new products this year. In June 2024, the company introduced the RUV 350 scooter, featuring a 3.5-kilowatt motor, 165 Nm peak torque, and a top speed of 75 km/h. For the fiscal year ending in March 2024, BGauss reported Rs 177 crore in revenue from operations against Rs 110 crore in FY23. During the period, its lossed also jumped nearly two-fold to Rs 49.65 crore. BVF, a Category II Alternative Investment Fund managed by Madhu Lunawat of Pantomath Capital Management, invests in growth-stage, profitable businesses like Haldiram Bhujiawala, Aniket Metals, and Millennium Babycares.

Otipy raises $2 Mn in venture debt from Nuvama

EntrackrEntrackr · 6m ago
Otipy raises $2 Mn in venture debt from Nuvama
Medial

Otipy, a farm-to-fork company, has raised $2 million in venture debt from Nuvama Asset Management Limited. This raise comes ahead of its $10 million equity round as reported by Entrackr earlier. Otipy will use these funds for general corporate purposes. Otipy operates a farm-to-fork delivery model by procuring directly from farmers and delivering fresh produce to consumers every morning. Currently, it operates in Delhi-NCR and Mumbai, with plans to launch in Hyderabad, Bengaluru, and Chennai. The Varun Khurana-led company has raised $46 million to date, including its $32 million Series B round led by Westbridge Capital in 2022. According to the startup data intelligence platform TheKredible, SIG Global is the largest external stakeholder in the firm, followed by WestBridge Capital. Recently, Otipy introduced electric carts in Gurugram as part of a pilot project to sell fruits and vegetables offline. The firm plans to organize the pushcarts through a franchise model and expand its services to other cities, including Mumbai. For the fiscal year ending in March 2024 (FY24), Otipy claims to register Rs 175 crore in topline.

CredAble raises Rs 30 Cr from SIDBI

EntrackrEntrackr · 1y ago
CredAble raises Rs 30 Cr from SIDBI
Medial

Fintech startup CredAble has raised Rs 30 crore ($3.6 million) in debt funding from SIDBI. The fund will be used to scale up its operations and extend affordable financing solutions to MSMEs and women-led businesses in India, CredAble said in a press release. Founded in 2017 by Nirav Choksi and Ram Kewalramani, CredAble provides working capital to large, mid, and emerging corporates, as well as micro, small, and medium enterprises (MSMEs), and financial institutions. Beyond traditional banking and loan products, the company has built a comprehensive working capital infrastructure for digitising corporate-led financing and underwriting needs. CredAble’s platform hosts over 125 corporate customers, over 3,50,000 small business borrowers, and more than 35 large financial institutions and banks. The company recently had dedicated Rs 200 crore to back women-led enterprises and has supported more than 50 such businesses across India over the course of 10 months. In March, CredAble raised $10 million in a new round from Singapore-based Equentia Natural Resources. It has raised nearly $60 million to date. CredAble’s revenue from operations grew 2.78X to Rs 13.94 crore in FY23 from Rs 4.92 crore in FY22. In pursuit of growth, the losses of the company surged 3.37X to Rs 22.40 crore in FY23 from Rs 6.53 crore in FY22.

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