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Exclusive: Deepika Padukone’s D2C startup 82°E set to raise new capital

EntrackrEntrackr · 1y ago
Exclusive: Deepika Padukone’s D2C startup 82°E set to raise new capital
Medial

Direct to consumer personal care startup 82°E is set to mop up Rs 50 crore or $6 million in the extension of its seed round from new and existing investors. This will be the first round of investment for the Deepika Padukone-led company this year. The board at 82°E passed a special resolution to issue 50,00,000 series seed 2 CCPS at an issue price of Rs 100 each to raise 50 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. KA Enterprises LLP, an investment entity owned by Deepika Padukone and her family, is slated to participate in the round, while other investors may join them. According to the filings, the new funds will be allocated for expansion, growth, and general corporate purposes. The company last raised $7.5 million in its seed round led by DSG Partner and IDEO Ventures along with Padukone’s family office in December 2022. According to startup data intelligence platform TheKredible, Padukone along with her family office holds 59.6% followed by actor Ranveer Singh who commands 5.32% of the company. Launched in 2022 by Padukone and Jihar Shah, 82°E is a skin and body care brand for both men and women that offers a wide range of products including cleansers, face masks, moisturizers, sunscreen, and more. 82°E displayed significant growth during the first nine months of FY24. Its revenue from operations stood at Rs 22.82 crore between March 2023 and December 2023. For context, the company collected Rs 11 crore in its operating income in FY23. The firm remained in the red with Rs 25.1 crore at EBITDA level in the same period (March 2023 to Dec 2023). 82°E competes with many brands including Plum, mCaffeine, Wow Skin Science and public company Mamaearth.

Brainbees arm to acquire KA Hygiene in Rs 57.74 Cr share swap deal

EntrackrEntrackr · 7d ago
Brainbees arm to acquire KA Hygiene in Rs 57.74 Cr share swap deal
Medial

Pune-based Brainbees Solutions, the parent company of FirstCry, has announced the acquisition of K.A. Enterprises (Hygiene) through its subsidiary Swara Baby, as the company expands its presence in the hygiene products segment. In a regulatory filing dated December 23, Brainbees said Swara Baby will acquire 100% equity ownership in KA Hygiene through a share swap transaction valued at Rs 57.74 crore. As part of the deal, Swara Baby will issue 38,49,572 equity shares to the existing shareholders of KA Hygiene. The transaction does not involve any cash consideration. Following the issuance of shares, Brainbees’ holding in Swara Baby will reduce from 87.29% to 75.92%. The acquisition is expected to be completed by the end of the year. Incorporated in 2019, KA Hygiene manufactures and trades hygiene products. The company recently took over the business operations of a related entity operating in the same segment. On a consolidated basis, the hygiene business reported revenue of Rs 84.01 crore in FY25, compared with Rs 80.42 crore in FY24 and Rs 58.45 crore in FY23. The firm reported a profit after tax of Rs 5.22 crore in FY25. KA Hygiene has only recently commenced standalone operations, and its individual financials are currently negligible. Separately, Brainbees has earlier incorporated Swara Corp in the United States through Swara Baby Products as part of its overseas expansion plans in the hygiene and disposable products category. Brainbees recently reported consolidated revenue from operations of Rs 2,099 crore in Q2 FY26, while posting a positive EBITDA of Rs 111 crore for the quarter ended September 30, 2025.

Exclusive: WorkIndia to raise $13 Mn in new funding round

EntrackrEntrackr · 20d ago
Exclusive: WorkIndia to raise $13 Mn in new funding round
Medial

Exclusive: WorkIndia to raise $13 Mn in new funding round Blue and grey-collar job portal WorkIndia is all set to raise Rs 114.35 crore (approximately $13 million) from Aavishkaar Capital, existing investor Beenext and the company’s co-founders Nilesh Dungarwal and Moiz Arsiwala. This is the first funding for the company in nearly 3 years since it raised $12 million in January 2023, led by SBI Holdings, Nintendo founding family and others. The board at WorkIndia passed a resolution to approve the issuance of 3,067 compulsory convertible preference shares and 100 equity shares at an issue price of Rs 2,27,369 each to raise Rs 72 crore, according to its filing with the Registrar of Companies (RoC). New investor Aavishkaar will join WorkIndia’s cap table with a Rs 50 crore investment, while existing backer BEENEXT will add Rs 22 crore. The company also approved a resolution to issue 1,869 partly paid-up CCPS worth Rs 42.35 crore to co-founders Nilesh Dungarwal and Moiz Arsiwala. With this, the total capital to be raised in the round stands at Rs 114.35 crore ($13 million). According to Entrackr’s estimates, the BEENEXT-backed company’s valuation is expected to surge over 35% to Rs 803 crore or $91.25 million from Rs 590 crore in its previous round. Co-founded by Kunal Patil, Nilesh Dungarwal, and Moiz Arsiwala, WorkIndia is a job platform focused on blue- and grey-collar workers, offering opportunities across 50 categories including tele-calling, field sales, delivery roles, and more. According to startup data platform TheKredible, WorkIndia has raised around $30 million to date from investors such as BEENEXT, Xiaomi, SBI Holdings, Insitor, and others. BEENEXT is the largest external shareholder, holding an 11.31% stake before this round, followed by Xiaomi at 7.3%. The co-founders collectively hold a 32.1% stake in the company. For the fiscal year ended March 2025, WorkIndia posted a 25% year-on-year increase in operating revenue to Rs 78.7 crore, while narrowing its losses by 25% to Rs 23.06 crore.

Smartworks raises more than $20 Mn from Keppel and others

EntrackrEntrackr · 1y ago
Smartworks raises more than $20 Mn from Keppel and others
Medial

Co-working space solutions provider Smartworks has raised Rs 168 crore ($20.24 million) from a group of investors including Keppel, Ananta Capital Ventures Fund I, Plutus Capital, family trusts, and HNIs. The capital from the fundraise will be deployed towards growth and expansion of the business and meet general corporate expenses, Smartworks said in a statement. To date, the co-working space firm has raised over $50 million, including a $25 million raise from the Singapore-based Keppel Land in 2019. Smartworks provides managed office spaces by leasing properties from real estate developers and subsequently subleasing them to enterprises or companies. The company has a presence across Delhi-NCR, Kolkata, Bengaluru, Chennai, Pune, Hyderabad, and others. As of March 2024, Smartworks has a presence in as many as 13 cities including Bengaluru, Kolkata, Delhi NCR, Mumbai, and Pune, and a portfolio of 41 centers spanning across 8 million square feet. As per startup data intelligence platform TheKredible, NS Niketan LLP, which includes founder Neetish Sarda, among others, controls more than 45% stake in the company as of the last funding round. Smartworks also said that promoters continue holding majority shareholding in the company. Smartworks’ revenue from operations surged 97.5% to Rs 711 crore in FY23 from Rs 360 crore in FY22. The firm also saw a 44.29% surge in losses which rose to Rs 101 crore in FY23 as compared to Rs 70 crore in the previous fiscal year. Recently, co-working firm Awfis got listed on the stock exchange and became the first company from this space to do so.

Curefoods to raise debt from Blacksoil and Binny Bansal

EntrackrEntrackr · 9m ago
Curefoods to raise debt from Blacksoil and Binny Bansal
Medial

Exclusive: Curefoods to raise debt from Blacksoil and Binny Bansal Cloud kitchen startup Curefoods is raising Rs 56.4 crore (approximately $6.6 million) in debt, led by BlackSoil Group and with participation from existing backer Binny Bansal. This will be the first debt round for the Bengaluru-based firm this year. The board at Curefoods has passed a special resolution to issue 1,000 non-convertible debentures at an issue price of Rs 5,00,000 each to BlackSoil, raising Rs 50 crore, and 595 compulsory convertible debentures to Binny Bansal worth Rs 6.4 crore, according to a regulatory filing accessed from the Registrar of Companies (RoC). The proceeds will be used for the company's working capital requirements and business expansion, as per filings. Curefoods is a cloud kitchen platform operating brands such as EatFit, Sharief Bhai, Olio Pizza, Krispy Kreme, Nomad Pizza, and others. Currently, it runs over 100 kitchens in over 200 locations in India. According to startup data intelligence platform TheKredible, Curefoods has raised $125 million across rounds from the likes of Binny Bansal-backed Three State Capital, Iron Pillar, and Chiratae Ventures, among others. Curefoods has also raised Rs 37 crore from Landmark Group in February via equity. Curefoods demonstrated notable financial performance in FY24, reporting a surge of over 50% in operating revenue to Rs 585 crore, while reducing losses by 50% to Rs 172.6 crore during the same period. The Ankit Nagori-led firm is reportedly planning to launch its $300–400 million initial public offering (IPO) in the latter part of FY26.

Exclusive: Electric mobility startup Matter raises $10 Mn

EntrackrEntrackr · 1y ago
Exclusive: Electric mobility startup Matter raises $10 Mn
Medial

Electric mobility startup Matter has raised Rs 82.6 crore (approximately $10 million) in a new round. This is the maiden round of equity funding for the Ahmedabad-based e-bike manufacturer. The board at Matter has issued 1,12,837 CCPS at an issue price of Rs 7,320 each to raise Rs 82.6 crore (approximately $10 million), its regulatory filing accessed from the Registrar of Companies shows. Japan Airlines & Translink Fund invested Rs 25 crore while Info Edge backed Capital 2B Fund poured in Rs 10.8 crore. Helena Special Investments Fund and Abhay P Shah, on behalf of Miracle Carriers are likely to participate in the fundraising. As per TheKredible estimates, the company has been valued at around Rs 1,690 crore or $204 million post-allotment. The e-bike manufacturer was reportedly in talks to raise $200 million to expand its operations, distribution and factory setup. Matter launched its maiden bike in early 2023 and began its pre-orders in May 2023. A year-old firm was in the pre-revenue stage during the fiscal year ended March 2023 while the losses for the firm stood at Rs 25 crore in the same period. It’s yet to file its annual results for FY24. Matter positions itself as a premium brand and this could be evident from its price-range which starts from Rs 1.7 lakh. Unlike Ola Electric and Ather, Matter is not targeting a mass audience and doesn’t compete with the two and other traditional manufacturers. In the e-bike segment, Matter competes with Bharat Forge-backed Tork Motors, TVS-backed Ultraviolette and RattanIndia Enterprises controlled Revolt. Tork Motors raised $6 million from Maxis Capital in January this year whereas Ultraviolette has been reportedly in talks to raise a larger round to the tune of $100 million. Ola Electric, which currently manufactures electric scooters, is also planning to enter the e-bike segment by FY26.

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