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Darwinbox seeks fresh funding upto $150 mn

Inshorts · 7m ago

Darwinbox seeks fresh funding upto $150 mn

HR tech platform DarwinBox is reportedly in talks to raise $120-150 million in a fresh funding round to be led by global private equity firms KKR and Partners Group. As per a Mint report, the round, which will be a mix of primary and secondary infusion, is expected to value the company at around $950 million.

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Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees

Entrackr

Entrackr · 11d ago

Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees

Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 186.6 crore (around $21 million), taking the total ESOP pool to Rs 426 crore ($48.4 million). HR tech platform Darwinbox has expanded its existing ESOP plan by adding additional employee stock options worth over $20 million. The board at Darwinbox has passed a resolution for approval to add 64,377 options to its existing plan, bringing the total ESOP pool to 1,46,908 options, its regulatory filing with the Registrar of Companies (RoC) shows. According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 186.6 crore (around $21 million), taking the total ESOP pool to Rs 426 crore ($48.4 million). In addition, the company holds 1,13,903 equity shares in its ESOP trust worth about Rs 330 crore ($37.5 million). In total, Darwinbox’s ESOP pool is valued at around Rs 756 crore ($86 million). This ESOP expansion comes on the heels of its Rs 86 crore ($10 million) ESOP buyback in June this year. Hyderabad-based Darwinbox offers a cloud-based HR management platform that covers recruitment, payroll, engagement, talent, and analytics. The company serves more than 1,000 clients, managing 4 million employees across 130 countries. According to the firm, the majority of its revenue comes from Southeast Asia and India. According to startup data intelligence platform TheKredible, Darwinbox has so far raised over $290 million across multiple funding rounds, including its $140 million in March co-led by Partners Group and KKR. The Peak XV-backed Darwinbox reported a 48% increase in operating revenue to Rs 333 crore in FY24, while its net losses widened to Rs 191.8 crore. The company is yet to disclose its FY25 financials.

AltiusHub Bags $2.25 Mn To Offer Supply Chain Security To Manufacturers

Inc42 · 1y ago

AltiusHub Bags $2.25 Mn To Offer Supply Chain Security To Manufacturers

Hyderabad-based supply chain visibility software AltiusHub has raised $2.25 Mn in a seed funding round led by Endiya Partners. Co-founded by ex-Darwinbox executives Siddharth Reddy and Abiram Vijaykumar, AltiusHub focuses on preventing counterfeit medicines from entering the supply chain through advanced tracking and ensuring regulatory compliance. The funding will be used to strengthen the engineering team and onboard sector-specific senior talent.

Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente

Inc42 · 1y ago

Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente

Healthtech unicorn Innovaccer is reportedly in talks with US-based health and insurance major Kaiser Permanente to raise a funding round of $200 million to $250 million. Innovaccer last raised $150 million in December 2021 at a valuation of $3.2 billion. If the latest funding talks materialize, the valuation could be lower, ranging between $2.5 billion and $3 billion. The fresh capital will be raised through a mix of primary and secondary funding. Innovaccer, founded in 2014, provides healthcare data analysis to healthcare providers, hospitals, insurance companies, and other organizations.

Partners Group, KKR lead $140-mn investment in Darwinbox

VCCircle

VCCircle · 6m ago

Partners Group, KKR lead $140-mn investment in Darwinbox

Partners Group and KKR are leading a $140 million investment round in Indian HR tech startup Darwinbox to support its international expansion. This round includes Gravity Holdings and involves both primary and secondary capital. Founded in 2015, Darwinbox offers automation services across the employee lifecycle. The company has previously raised $72 million at a $1 billion valuation and expanded into North America and other markets, achieving significant international revenue growth.

Darwinbox elevates CTO Vineet Singh to cofounder

Economic Times

Economic Times · 1y ago

Darwinbox elevates CTO Vineet Singh to cofounder

Hyderabad and Singapore-based SaaS unicorn Darwinbox has promoted its chief technology officer, Vineet Singh, to co-founder status. Singh, who has experience in the consumer and SaaS tech industries, will play a key role in driving the company's technology strategy forward, particularly in the areas of artificial intelligence and delivering contextual intelligence to customers. Darwinbox provides human resources services, including hiring and onboarding, attendance management, and employee management. The company achieved unicorn status in January 2022 after raising $72m in funding. Darwinbox is backed by investors such as Microsoft, Salesforce Ventures, and Lightspeed.

With Tech Frenzy On Card, Darwinbox Unveils Platform To Help Enterprises Streamline Payroll Processes

Inc42 · 1y ago

With Tech Frenzy On Card, Darwinbox Unveils Platform To Help Enterprises Streamline Payroll Processes

HR tech company Darwinbox has launched a payroll platform with a four-step framework called RIVeR (review, initiate, verify & e-approve, release & report). The platform aims to digitize payroll processing, making it more accurate, user-friendly, and audit-ready. Darwinbox, founded in 2015, offers cloud-based HCM software and has received funding from investors such as TCV, Microsoft, Salesforce Ventures, and Lightspeed.

Darwinbox’s early investors look to exit at a 10-15% discount amid SaaS slowdown

Livemint

Livemint · 1y ago

Darwinbox’s early investors look to exit at a 10-15% discount amid SaaS slowdown

Early investors in HR technology platform Darwinbox, such as Lightspeed Ventures and Endiya Partners, may exit the company partially or completely in a secondary funding round. Other early investors, including Peak XV and StartupXseed, may also exit depending on the deal. Darwinbox became a unicorn in 2022 after a $72 million Series D funding round and received additional funding in January 2023. The company aims to become profitable and go public by 2025. However, the SaaS industry has seen a slowdown, leading to changes in pricing models and lower valuation multiples.

Aarvee Engineering, Deon Energy file DRHPs with Sebi to raise Rs 202 crore and Rs 150 crore via fresh issue

Economic Times

Economic Times · 3d ago

Aarvee Engineering, Deon Energy file DRHPs with Sebi to raise Rs 202 crore and Rs 150 crore via fresh issue

Aarvee Engineering Consultants and Deon Energy have filed draft red herring prospectus with India's SEBI to raise Rs 352.5 crore via IPOs. Aarvee, aiming for Rs 202.5 crore, plans to use the funds for debt repayment and technological investments. Deon Energy seeks Rs 150 crore focusing on renewable energy projects. The issues include both fresh capital and offer for sale components. The IPO aims to support debt reduction, expansion, and sectoral growth in renewable energy solutions.

Exclusive: Infra.Market raises $27 Mn in equity and debt

Entrackr

Entrackr · 1y ago

Exclusive: Infra.Market raises $27 Mn in equity and debt

Construction goods and services platform Infra.Market is raising up to Rs 150 crore (approximately $18 million) in its Series E2 funding round. The new money hit the company’s coffers just three months after the announcement of $50 million from the Mars Fund. The board at Infra.Market has passed a resolution to issue 7,028 Series E2 preference shares at an issue price of Rs 213438.7 each to raise Rs 150 crore or $18 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Out of the total sum of Rs 150 crores, the company has already received Rs 76.3 crores. Amit Vijaysinh Barad and Barad Sanjay Amarsinh have invested Rs 45 crores together, with the remaining funds contributed by various individual shareholders. Importantly, the Tiger Global-backed company also secured Rs 75 crore ($9 million) in debt funding from Innoven Capital. The firm also closed its Rs 150 crore debt round Yubi In July. According to TheKredible estimates, the company has been valued at around $2.6 billion post-allotment. The new funding seems to be part of a $150-200 million round that the company is eyeing. The firm is also preparing for an initial public offering (IPO), and may file its draft red herring prospectus (DRHP) soon. Infra.Market has raised around $540 million across equity and debt To date. According to the startup intelligence data platform TheKredible, Tiger Global remains the largest external stakeholder followed by Accel and Nexus Ventures after the allotment of the fresh infusion. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market sells construction materials, infrastructure goods, and technical equipment. It is targeting the growing construction materials market, with a strong focus on the infrastructure sector. While the company is yet to file its annual statements for FY24, Infra.Market’s gross revenue rose 89% to Rs 11,846 crore in FY23. Its profit slipped 17% to Rs 155 crore in the same period (FY23). Infra.Market’s competition includes OfBusiness, Moglix, and Zetwerk, MetalBook, among others. Notably, OfBusiness is also eyeing to get listed on stock exchanges in the next fiscal year (FY26).

Darwinbox secures $40 million funding from Canada's OTPP - The Economic Times

Economic Times

Economic Times · 1m ago

Darwinbox secures $40 million funding from Canada's OTPP - The Economic Times

Darwinbox, a Hyderabad-based HR software firm, raised $40 million from Teachers’ Venture Growth, a branch of Ontario Teachers’ Pension Plan. This follows a $140 million funding round earlier in the year, valuing the company at $1 billion. The investment allowed early investors like Peak XV Partners significant returns. Darwinbox, serving over 1,000 enterprises, reported a 58% revenue increase and aims to expand further into the US market, targeting significant revenue growth.

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