🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Amazon-backed Axio raises $20 Mn via right issue

EntrackrEntrackr · 1y ago
Amazon-backed Axio raises $20 Mn via right issue
Medial

Online lending platform Axio (formerly Capital Float) has raised Rs 167 crore (around $20 million) from existing investors via right issue. The board at Axio has passed a special resolution to issue 11,25,000 preference shares at an issue price of Rs 1,486 each to raise Rs 167 crore or $20 million, its regulatory filing accessed from the Registrar of Companies (RoC)shows. The rights issue will be offered to existing shareholders at a ratio of 0.51 shares for every 1 share they currently hold, the filing further added. While the firm didn’t disclose investors’ names, Amazon is likely to have participated with substantial contribution. Amazon was also in talks for complete acquisition of Axio. Entrackr exclusively reported this in July. Amazon is an investor in Axio which participated in the firm’s Rs 144 crore extended Series C round in 2018. Amazon used to own around 8% of the Bengaluru-based lending platform before the fresh round. According to the startup data intelligence platform TheKredible, Light Rock was the largest external shareholder with 19.42% before this round, followed by Elevation which owned 13.84%. Peak XV, Creation, Amazon, and Ribbit and QED Innovations are its other backers. In a recent statement to the media, Axio’s co-founder Sashank Rishyasringa said that the firm saw 50% jump in its revenue and 95% reduction in its losses in the last fiscal year (FY24). While Axio is yet to disclose the exact numbers of FY24, the Bengaluru-based company reported 2X growth in its revenue to Rs 220 crore in FY23 as compared to Rs 110 crore in FY22. The Lightrock-backed firm’s losses grew marginally to Rs 137 crore in the fiscal year ending March 2023.

Optical fiber tools startup Digital Striker raises $1 Mn from Foxhog Ventures

EntrackrEntrackr · 1m ago
Optical fiber tools startup Digital Striker raises $1 Mn from Foxhog Ventures
Medial

Digital Striker has raised $1 million (around Rs 8.5 crore) in a funding round from Foxhog Ventures. According to the startup, around Rs 5–6 crore from the funding will be deployed towards setting up a manufacturing facility, hiring talent, and establishing offices in major metro cities. The remaining capital will be used to continue import operations while local manufacturing is scaled up. Founded in 2021 by Priyanka, Digital Striker operates in the optical fiber tools and equipment segment, supplying products such as fiber strippers, cleavers, visual fault locators, power meters, and splicing machines. The firm currently imports these tools and distributes them through a reseller network across India. Digital Striker plans to begin local manufacturing with 5–7 products in the initial phase and gradually expand its portfolio. The startup claims to have built a network of over 450 resellers and end customers across India. It reported a turnover of Rs 8.85 crore over the last 40 months while operating as a bootstrapped company. The brand plans to scale its manufacturing operations over the next few years while expanding distribution across the country.

Mozark raises $40 Mn in Series B round led by IFC and RMB Capitalworks

EntrackrEntrackr · 9d ago
Mozark raises $40 Mn in Series B round led by IFC and RMB Capitalworks
Medial

Mozark raises $40 Mn in Series B round led by IFC and RMB Capitalworks Digital experience testing and measurement company Mozark has raised $40 million in Series B funding round led by IFC (International Finance Corporation) and RMB Capitalworks, with participation from Kalaari Capital. The startup had previously secured $10 million from VentureSoul Partners, BlackSoil, and others. The proceeds will be utilized for global expansion and strategic acquisitions, Mozark said in a press release. Co-founded in 2019 by Chandrasekar Ramamoorthy, Kartik Raja, and Fabien Ranaudineau, Mozark helps enterprises, telecom operators, public-sector organizations, and regulators run real-world digital experience tests at scale. By executing scripted critical user journeys on real devices across real networks and locations, Mozark generates synthetic experience telemetry to pinpoint performance gaps across the AI-native full stack—from applications and AI systems to the infrastructure that powers them. It supports sovereignty-ready deployments. Mozark currently serves over 50 enterprise and government clients across more than 20 countries, including regulators, telecom operators, financial institutions, and global digital-native organizations. Its deployments run concurrently on several thousand live devices, having already executed over 25 million tests supporting benchmarking and user-experience assurance analytics at scale.

Download the medial app to read full posts, comements and news.