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Decoding Neysaโ€™s Series A round, valuation and shareholding pattern

EntrackrEntrackr ยท 1m ago
Decoding Neysaโ€™s Series A round, valuation and shareholding pattern
Medial

Generative AI startup Neysa raised $30 million in its Series A round led by NTT Venture Capital with the participation of Nexus Venture Partners, Z47, and others. The Neysaโ€™s board has allotted 1,11,532 Series A compulsory convertible preference shares at an issue price of Rs 20,430 and also allotted 12,592 equity shares to collectively raise Rs 252 crore or $30 million, according to its regulatory filing accessed from Registrar of Companies (RoC). NTT Ventures led the round with Rs 75.67 crore or $8.9 million, followed by Nexus Venture Partners and Z47 (formerly Matrix Partners India), each contributing Rs 67.26 crore ($7.9 million). Anchorage Capital invested Rs 16.8 crore, while Sharad Sanghi also allotted Rs 25.22 crore worth of equity shares. The new capital will help Neysa scale its AI infrastructure, enhance research and development, and prepare for the launch of its Gen AI acceleration cloud service. According to Entrackrโ€™s estimates, the company will be valued at around Rs 1,090 crore or $128 million (post-allotment). Neysa is an AI cloud and platform-as-a-service (PaaS) startup that enables users to manage and scale Generative AI projects in the cloud. Its offerings include Nebula, a platform for deploying and scaling AI workloads; Palvera, which streamlines network intelligence; and Aegis, designed to secure AI/ML ecosystems against emerging threats. Mumbai-based startup Neysa has raised $50 million to date, including its $20 million seed round. According to startup data intelligence platform TheKredible, Nexus Venture Partners and Z47 are the largest external shareholders in the company, each holding a 16.22% stake, with NTT VC and Anchorage Capital holding 14.83% and 4.32% respectively. The companyโ€™s founders, Sharad Sanghi and Aninya Das, collectively own a 43.09% stake. Neysa has not reported any operating revenue till FY24 but earned interest income from fixed deposits with banks and security deposits amounting to Rs 13.87 lakhs during the fiscal year ending March 2024. The company incurred a net loss of Rs 3.1 crore in the same period.

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Decoding Geniemodeโ€™s Series C funding round, latest valuation and captable

EntrackrEntrackr ยท 3m ago
Decoding Geniemodeโ€™s Series C funding round, latest valuation and captable
Medial

Decoding Geniemodeโ€™s Series C funding round, latest valuation and captable Geniemode, a business-to-business cross-border e-commerce startup, recently announced $50 million in its Series C round led by Multiples Equity, with participation from Fundamentum, Paramark Ventures, and existing investor Info Edge Ventures. Entrackr has gone through its regulatory filings to decode the round break up, captable, and current valuation. The board of Geniemode has passed a special resolution to issue 5,601 Series C compulsory convertible preference shares at an issue price of Rs 6,60,430 each, raising Rs 370 crore. Additionally, the company has issued 667 partially paid-up equity shares worth Rs 44 crore to its co-founders, bringing the total amount to Rs 414 crore, its regulatory filing accessed from RoC shows. Multiples Equity led the funding round with an investment of Rs 223 crore ($26.2 million), followed by Fundamentum and Paramark Ventures, which contributed Rs 88 crore ($10.3 million) and Rs 36.7 crore ($4.3 million), respectively. Existing investor Info Edge also participated, investing Rs 22 crore ($2.6 million). According to Fintrackrโ€™s estimates, the companyโ€™s post-money valuation has now reached Rs 1,800 crore or $212 million. Previously, it was valued at $160 million when it raised $28 million in a Series B round led by Tiger Global in April 2022. According to the data intelligence platform TheKredible, post-allotment co-founder Amit Sharma will hold 27.35% stake, existing investor Info Edge will be the largest external shareholder in the company with 23.2% stake in the company followed by new investor Multiples Equity holding 12.39% stake. See TheKredible for the complete shareholding pattern. Founded by Amit Sharma and Tanuj Gangwani, Geniemode is a B2B cross-border e-commerce startup specializing in furniture, home textiles, apparel, and accessories. It connects buyers with the right suppliers, streamlining the process from sample approval to shipping. Operating in more than 10 countries, Geniemode serves over 200 global buyers and suppliers. With offices in New York, London, Barcelona, China, Bangladesh, and India, it enables brands to source products internationally. For the fiscal year ending FY24, the Gurugram-based company reported a surge of over 2.6X in operating revenue to Rs 556 crore, while reducing losses marginally to Rs 77.62 crore.

Exclusive: Decoding Atherโ€™s unicorn round, Q1 FY25 numbers

EntrackrEntrackr ยท 10m ago
Exclusive: Decoding Atherโ€™s unicorn round, Q1 FY25 numbers
Medial

Electric scooter manufacturer Ather Energy has entered into a coveted unicorn club with $71 million in funding from existing investor National Investment and Infrastructure Fund last month. Entrackr has gone through its regulatory filings to decode round break up, shareholding pattern, and current valuation. The board at Ather Energy has passed a special resolution to issue 1,65,28,925 Series G compulsory cumulative preference shares at an issue price of Rs 363 each to raise Rs 600 crore or $72 million, its regulatory filing accessed from RoC shows. According to the data intelligence platform TheKredible, Hero MotoCorp remains the largest external stakeholder with 38.11% after this round, followed by Caladium Investment which holds 16.3%. NIIF, Tiger Global, and Zerodha brothers are other notable investors in Ather Energy. See TheKredible for the complete shareholding. The electric two-wheeler manufacturer was valued at $1.25 billion post-allotment, as per Fintrackrโ€™s estimates. Ather posted Rs 339 crore of revenue during the first quarter of the ongoing fiscal year with a net loss of Rs 183 crore in the same period, according to its internal document seen by Entrackr. In FY24, the firm reported a modest decline in its revenue which stood at Rs 1754 crore. Atherโ€™s rival Ola Electric, which went public last month, posted Rs 1,644 crore in revenue during the first quarter of the ongoing fiscal year, marking its net loss down by 17% to Rs 347 crore. According to Ather, its market share in the electric two-wheeler segment was 9% in the first quarter of FY25, down from 11% in FY24. Meanwhile, Ola Electricโ€™s market share increased to 42% in Q1 FY25, and TVS Electric secured the second position with a 19% share during the same period. Notably, Ola Electricโ€™s market share declined in the first two months of Q2 FY25 (July and August).

Decoding Ultrahumanโ€™s Series B: Deepinder Goyal pumped in $10 Mn

EntrackrEntrackr ยท 1y ago
Decoding Ultrahumanโ€™s Series B: Deepinder Goyal pumped in $10 Mn
Medial

Wearable tech startup Ultrahuman had raised $35 million in a mix of debt and equity in its Series B round led by Deepinder Goyal and existing investors Blume Ventures, Steadview Capital, Nexus VP, and Alpha Wave. While the company didnโ€™t disclose about Goyal leading the round, Entrackr has decoded his investment along with others including Ultrahumanโ€™s cap table and valuation through its regulatory filings. The board at Ultrahuman passed a special resolution to allot 6,979 Series B CCPS at an issue price of Rs 3,00,170 each to raise Rs 209.4 crore or $25 million, its regulatory filing accessed from the Registrar of Companies shows. Zomatoโ€™s co-founder Goyal led the round with Rs 83 crore while Alpha Wave and Blume Ventures infused Rs 66.34 crore and 29.86 crore, respectively. Nexus Venture Partners, Steadview Capital, and Panthera Capital participated with Rs 12.42 crore, Rs 13.77 crore, and Rs 4.14 crore. At the time of announcement, Ultrahuman said that the Series B round consisted of $25 million equity and $10 million debt. Itโ€™s worth noting that Ultrahumanโ€™s co-founders Mohit Kumar and Vatsal Singhal sold their first startup Runnr to Zomato in September 2017. Zomato leveraged Runnr which merged with Mumbai-based TinyOwl to raise its own delivery fleet. Ultrahuman has raised over $60 million, including $35 million in Series B and $17.5 million in Series A in October 2022. As per TheKredible estimates, the company has been valued at around Rs 1,039 crore or $125 million (post-allotment of Series B round). Following the fresh proceeds, Nexus emerged as the largest external stakeholder with 17.26% followed by Alpha Waveโ€™s 14.8% stake. Goyal holds 8.58% of the company. The company also has an ESOP pool of around 10.84% Head to TheKredible for the complete shareholding pattern. Ultrahuman is a self-quantification platform that provides a smart ring called Ring Air, a glucose monitoring wearable M1 Live, and a blood testing product called Blood Vision, among others. Ultrahuman demonstrated impressive financial performance in FY23 and its operating revenue flew 4X to Rs 30 crore. At the same time, the companyโ€™s losses grew only 21.4% to Rs 71 crore during the same period. Levels Health, Super Sapiens and Oura are the global peers of Ultrahuman.

Decoding Mswipeโ€™s latest funding round, valuation and cap table

EntrackrEntrackr ยท 1y ago
Decoding Mswipeโ€™s latest funding round, valuation and cap table
Medial

Digital payments company Mswipe Technologies recently announced $20 million in a new round led by existing backers. Apart from the name of investors, the company did not disclose further details. Entrackr has gone through its regulatory filings to decode details such as round break up, shareholding and current valuation. The board at Mswipe has passed a special resolution to allot 7,47,000 compulsory convertible debentures (CCD) at an issue price of Rs 2,000 each to raise Rs 149.4 crore or $18 million, its regulatory filing sourced from the Registrar of Companies shows. Alpha Wave has pumped in Rs 83 crore while B capital participated with Rs 66.4 crore in the fresh funding round. As per the filings, the companyโ€™s pre-money valuation stood at $290 million. This is a major slump in its valuation from $450 million during the last equity fundraise in 2019. Mswipe Technologies will use these funds to meet the working capital requirement and support the expansion of the business and for general corporate purposes, the filings added. Following the proceeds, Matrix Partners remains the largest external stakeholder with 21.46% while Alpha Wave and B Capital hold 10.43% and 11.4%, respectively. Its co-founder Manish Patel along with Sheetal Patel commands 14.21%of the company. Head to TheKredible for the complete shareholding pattern. In February, the Mumbai-based company received a payment aggregator (PA) license from the Reserve Bank of India (RBI) which enables Mswipe to offer full-stack payments to businesses. Mswipe provides point-of-sale devices, UPI, quick response codes and payment links. While the company is yet to file its financial statements for FY24, according to the startup data intelligence platform TheKredible, Mswipeโ€™s revenue from operations increased 13.69% to Rs 274 crore in FY23 compared to Rs 241 crore in FY22. Its losses contracted by 45.36% to Rs 49 crore in FY23 from Rs 90 crore in FY22.

Decoding Atlum Credoโ€™s $40 Mn primary and secondary round

EntrackrEntrackr ยท 1y ago
Decoding Atlum Credoโ€™s $40 Mn primary and secondary round
Medial

Digital payments company Altum Credo recently announced $40 million in its Series C round led by Z3Partners and Oikocredit. Apart from primary capital, the company also offered partial exit to its backers. While the company didnโ€™t disclose any details besides round size and investors, Entrackr has reviewed its regulatory filings to decode details such as round break up, shareholding, valuation, and secondary component in the deal. The board at Altum Credo has passed a special resolution to issue 300 equity and 1,99,99,700 Series C CCPS at an issue price of Rs 114 each to raise Rs 228 crore or $27 million as a primary capital, its regulatory filing accessed through the Registrar of Companies shows. Oikocredit and Z3 Partners (BII) invested Rs 80 crore and Rs 85 crore while British International Investment, Amicus Capital, and Avishkaar India pumped in Rs 26 crore, 12 crore, and 25 crore, respectively, in primary fundraising. According to the shareholder agreement between investors, there is also a secondary transaction where 1,03,96,040 shares have been sold worth Rs 118.5 or $14 million. Out of Rs 118.5 crore of secondary transactions, ABF (Avishkar Bharat Fund) sold Rs 79 crore worth of shares while promoters sold Rs 13.54 crore worth of shares. PS Pai and family purchased Rs 79 crore worth of shares in the secondary transactions from Avishakkar Bharat Fund and promoters. According to TheKredibleโ€™s estimates, the company has been valued at around Rs 1165 crore or $149 million post-allotment. Altum Credo provides financial accessibility for first-home buyers across semi-urban and rural areas of India. It provides home loans in the range of Rs 4 lakh to Rs 40 lakh for a tenure of 5-20 years. Following the fresh proceeds, Avishkaar remains the largest external stakeholder with 15.92% followed by Amicus Capital. Oikocredit and Z3 Partners command 7.62% and 8.09% stake of the company. Head to TheKredible for the complete shareholding pattern. While the company is yet to file its financial statements for FY24, Altum Credoโ€™s revenue from operations scaled 102.4% to Rs 67.2 crore in FY23. As per TheKredible, its profit shot up 99% to Rs 8.95 crore during FY23.

Decoding Rapidoโ€™s $120 Mn unicorn round

EntrackrEntrackr ยท 10m ago
Decoding Rapidoโ€™s $120 Mn unicorn round
Medial

Mobility startup Rapido recently turned unicorn after raising $120 million in a Series E funding round from WestBridge Capital through its various investment vehicles including SETU AIF and Konark. While the firm didnโ€™t announce the funding officially, Entrackr has sifted through its regulatory filings to decode every detail of the round which was entirely led by WestBridge โ€”an uncommon deal in the ecosystem. The board at Rapido has passed a special resolution to issue 10 equity, 95,479 Series E, and 95,489 Series E1 compulsory convertible preferred shares at Rs 52,467 each to raise Rs 1,002 crore (approximately $120 million) from WestBridge Capital through its 3 investment vehicles including SETU AIF, Konark, and MMPL Trust. Notably, shares issued worth Rs 501 crore were fully paid-up shares while the other 50% is partly-paid up. This essentially means that Rapido will receive the partly paid amount (Rs 501 crore) in tranches. Rapido will use the proceeds for expansion and growth, as per filings. According to the startup data intelligence platform, TheKredibleโ€™s estimates, Rapido was valued at around Rs 8,517 crore (approximately $1.02 billion) in the series E round. With this investment, WestBridge remained the largest external stakeholder with 32.88%, followed by Swiggy and Nexus Ventures, which own 12.32% and 8.19%, respectively. See TheKredibe for the complete shareholding pattern. Rapido also claimed to have left Ola behind and became the number two player after Uber in the overall ride-hailing space (bike, auto, and cabs). As of March 2024, Uber processed 19.3 lakh rides on a daily basis while Rapido did 16.5 lakh rides a day followed by Ola which did 13 lakh rides, as per Rapidoโ€™s internal documents reviewed by Entrackr. While Rapido is yet to disclose FY24 numbers, the firmโ€™s operating revenue surged 3X to Rs 443 crore during FY23. The steep growth in scale also caused a 54% spike in losses, which stood at Rs 675 crore in FY23.

Decoding Foxtaleโ€™s Series C funding round, latest valuation and captable

EntrackrEntrackr ยท 2m ago
Decoding Foxtaleโ€™s Series C funding round, latest valuation and captable
Medial

Foxtale, a direct-to-consumer (D2C) skincare brand, recently raised Rs 250 crore (approximately $30 million) in its Series C funding round, led by Japanese beauty products company Kose Corporation with the participation of existing investorsโ€”Z47 (formerly Matrix Partners India), Kae Capital, and Panthera Growth Partners. Entrackr has gone through its regulatory filings to decode details such as round break-up, shareholding, and current valuation. The board at Foxtale has issued 20 equity shares and 18,847 Series C compulsory convertible preference shares at an issue price of 1,32,237 each to raise Rs 250 crore or $30 million. Kose Corporation led the round with an investment of Rs 153 crore (approximately $18 million), followed by Z47 (formerly Matrix Partners India), which contributed Rs 45.95 crore (around $5.4 million). Panthera Growth Partners and Kae Capital, through the Kael Opportunities Fund, pumped in Rs 29.5 crore ($3.5 million) and Rs 21 crore ($2.5 million), respectively. According to Fintrackrโ€™s estimates, the companyโ€™s post-money valuation has surged to Rs 1,530 crore (approximately $180 million), nearly doubling from its previous valuation of Rs 795 crore (around $93.5 million). Following the fresh allotment of the Series C round, Z47 (formerly Matrix Partners India) remains the largest external shareholder with a 19.64% stake, followed by Kae Capital at 17.35% and Panthera Growth Partners at 12.62%. New investor Kose Corporation now holds a 10% stake in the company. Founder and CEO of the company, Romita Mazumdar holds a 34.38% stake. Founded in 2021, Foxtale is an affordable skincare brand that develops products specifically formulated for Indian skin types, targeting issues such as acne, aging, and hyperpigmentation. Its products are available on the brandโ€™s official website as well as popular marketplaces including Nykaa, Amazon, Blinkit, Flipkart, and Myntra. For the fiscal year ending FY24, the Mumbai-based D2C brand recorded a nearly six-fold increase in operating revenue to Rs 83 crore from Rs 14 crore in FY23. However, the company also reported a loss of Rs 55 crore during FY24.

Decoding SarvaGramโ€™s Series D round, valuation and captable

EntrackrEntrackr ยท 21d ago
Decoding SarvaGramโ€™s Series D round, valuation and captable
Medial

SarvaGram raises Rs 565 Cr ($67 Mn) in Series D round led by Peak XV, with the participation from existing investors Elevation, Elevar, Temasek, and TVS Capital. Rural-focused credit startup SarvaGram announced its Rs 565 crore (approximately $67 million) Series D funding round led by Peak XV Partners, along with the participation of existing investors Elevation Capital, Elevar Equity, Temasek, and TVS Capital. Entrackr has gone through its regulatory filing to decode the details such as round breakup, shareholding, and current valuation. In November last year, SarvaGramโ€™s board approved the allotment of 21,857 Series D CCPS and 20 equity shares at a price of Rs 2,51,431.22 each to raise Rs 550 crore (approximately $65.2 million). With the prior Rs 15 crore allotment, the total funding round stood at Rs 565 crore ($67 million), as per filings with the Registrar of Companies (RoC). Peak XV Partners spearheaded the round with an investment of Rs 340 crore ($40.3 million), followed by existing backers Elevation Capital and Elevar Equity, who contributed Rs 80.76 crore ($9.58 million) and Rs 68 crore ($8 million), respectively. Temasek and TVS Capital participated with Rs 45.48 crore ($5.4 million) and Rs 30.78 crore ($3.6 million). According to Entrackrโ€™s estimates, SarvaGramโ€™s valuation soared 2X to Rs 1,785 crore ($212 million), which stood at Rs 790 crore ($94 million) during its previous $35 million Series C round. Founded in 2019 by Utpal Isser and Sameer Mishra, SarvaGram offers a range of credit products to rural households, including business, farm, personal, home, and gold loans. The company also provides insurance and farm mechanization services through its SarvaMitra network, giving rural users affordable access to high-quality equipment such as cultivators, rotavators, and harvesters. According to the companyโ€™s website, it has served over 1.5 lakh households and more than 170 shops, along with 630+ SarvaMitra franchises spread across over 38,000 villages. According to startup data platform TheKredible, SarvaGram has raised over $116 million across multiple funding rounds. Following the latest injection, Elevar Equity is the largest external stakeholder with 23.78%, followed by Peak XV Partners and Elevation Capital, which command 19.05% and 18.40% respectively. Co-founders Utpal Isser and Sameer Mishra retain 11.00% and 7.05% stakes in the company. The Pune-based fintech company reported 2.3X year-on-year growth in its operating revenue to Rs 170 crore during the fiscal year ended March 2024, while it managed to narrow its losses by 30% to Rs 19.75 crore during the same period. SarvaGram competes with Jai Kisan, which last raised $50 million in a Series B round in July 2022. Another rival, agri-fintech startup Arya.ag, secured $30 million in debt funding in January.

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