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Pronto raises $25 Mn in Series B led by Epiq Capital

EntrackrEntrackr · 9d ago
Pronto raises $25 Mn in Series B led by Epiq Capital
Medial

Pronto raises $25 Mn in Series B led by Epiq Capital Home services startup Pronto has raised $25 million (around Rs 228.9 crore) in its Series B round led by Epiq Capital. Existing investors Glade Brook Capital, General Catalyst, and Bain Capital Ventures also participated in the round. The round comes six months after Pronto raised an $11 million Series A round. The proceeds will be used to hire and train more professionals and strengthen operations across existing markets and service categories over the next 12 to 18 months. Founded in 2025 by Anjali Sardana, Pronto offers 10-minute on-demand home services, connecting urban households with trained and background-verified domestic workers. The platform provides services such as sweeping, mopping, utensil washing, kitchen and bathroom cleaning, laundry assistance, and other routine chores through instant, scheduled, or recurring bookings. The startup operates in Delhi NCR, Bengaluru, and Mumbai, among other cities. It claims its daily bookings have increased from around 1,000 to over 18,000 in the past seven months and says it is growing at more than 20% week-on-week. Pronto currently works with nearly 3,000 professionals and has a core team of about 60 employees. The brand recently shifted its headquarters to Bengaluru while retaining customer support operations in Gurugram. In the instant home services segment, it faces competition from Snabbit and Urban Company’s Insta Help. Snabbit secured $30 million in a Series C round in October last year. Urban Company recently claimed that Insta Help surpassed 50,000 daily bookings within a year of its launch, while Snabbit recorded over 8 lakh bookings in February alone.

Bhanzu reports 3.7X growth in FY25; losses trims 42%

EntrackrEntrackr · 16h ago
Bhanzu reports 3.7X growth in FY25; losses trims 42%
Medial

Bhanzu reports 3.7X growth in FY25; losses trims 42% Bhanzu posted strong growth in the fiscal year ended March 2025, as its operating revenue jumped nearly fourfold. Despite the sharp rise in scale, the company kept expenses stable, which helped its losses reduce by 42% during the period. Hyderabad-based Bhanzu’s revenue from operations jumped over 3.7X year-on-year to Rs 109.5 crore in FY25 from Rs 29.4 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2020, Bhanzu provides experiential math learning courses that enable cognitive abilities among children aged between 5 to 16 years. According to its website, the company has trained over 50,000 students through its bouquet of courses. The sale of these courses was the sole source of its operating revenue in FY25. The company also has a presence in the US, the UK, and the Middle East. According to the filing, international markets contributed over 69% of total revenue at Rs 75.7 crore, a 4.3X jump compared to FY24. Meanwhile, the Indian market contribution stood at Rs 33.9 crore, with nearly 3X year-on-year growth. For the edtech firm, employee benefits formed the largest cost head, with 50% share of total expenditure. This cost fell 17% to Rs 96.3 crore in FY25 from Rs 115.4 crore in FY24. The decline came largely due to lower ESOP cost (non-cash), which dropped to Rs 11.7 crore from Rs 25.8 crore in the previous fiscal. The Lightspeed-backed company also spent heavily on sales and marketing expenses, which formed over 20% of the total expenditure. This cost rose 46% year-on-year to Rs 40.8 crore in the last fiscal year. Training and recruitment expenses also surged 2.4X to Rs 28.6 crore. IT expenses, legal and professional fees, rent, and other overheads added Rs 27.9 crore to the overall expenditure. As a result, total expenses rose 11% to Rs 193.6 crore in FY25, compared to Rs 174.4 crore in FY24. In the end, the 3.7X growth led the company to cut its losses by 42% to Rs 79 crore in FY25, compared to Rs 135.5 crore in FY24. Its EBITDA margin improved to -75.8%, while EBITDA (loss) stood at Rs 83 crore in the previous fiscal. At the unit level, Bhanzu spent Rs 1.77 to earn every rupee of operating revenue in FY25. As of March 2025, the firm reported current assets of Rs 179.5 crore, including cash and bank balances of Rs 167.5 crore. The strong cash position followed the $16.5 million Series B round led by Epiq Capital during the financial year.

After securing PA license, Mswipe raises $20 Mn in Alpha Wave-led round

EntrackrEntrackr · 2y ago
After securing PA license, Mswipe raises $20 Mn in Alpha Wave-led round
Medial

Mswipe Technologies has closed a $20 million growth equity round led by Alpha Wave Global along with the participation of existing investors. The digital payments company recently received a payment aggregator (PA) license from the Reserve Bank of India (RBI). It’s worth noting that the funding has come after a gap of almost five years for the Mumbai-based company. To date, the startup has raised over $125 million from several marquee investors, including Matrix Partners, B Capital, DSG Consumer Partners, Epiq Capital, UC-RNT, and Ola. Fresh capital will help Mswipe expand its merchant payment network, and further strengthen product development and technological infrastructure, the company said in a press release. Mswipe provides a host of offline and online payment acceptance solutions, including point-of-sale devices, UPI, quick response codes and payment links to help offline merchants receive payments digitally. As mentioned above, Mswipe was recently granted the PA licence, which now enables the firm to provide full-stack payment technology providing omni-channel solutions. The PA license solidifies the company’s objective to enhance its suite of offerings while delivering secure payment technology to banking partners, enterprises, and merchants across categories, Mswipe had said in a statement. Mswipe has now joined the likes of Zomato, Decentro, Zoho, Juspay, Razorpay, Cashfree, Open and Enkash which recently received a nod from RBI to operate as an online payment aggregation platform. As per startup data intelligence platform TheKredible, Mswipe’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. The company claims that it has been profitable at an EBITDA level for the last five quarters.

Exclusive: GIVA raising $12 Mn in extended Series C round

EntrackrEntrackr · 21d ago
Exclusive: GIVA raising $12 Mn in extended Series C round
Medial

Omnichannel jewelry startup Giva is set to raise Rs 110 crore (around $12 million) in its Series C extension round led by HPV CC1 ltd, with the participation from Premji Invest, Kenro Capital, and Titan Capital. The fresh investment came nine months after GIVA raised Rs 530 crore ($61.5 million) in its Series C round led by Creaegis, with participation from Premji Invest, Epiq Capital, and Edelweiss Discovery Fund. The board at Giva passed a resolution to approve the issuance of 94,01,710 Series C1 CCPS at an issue price of Rs 117 each to raise the aforementioned sum, its regulatory filing accessed from RoC shows. HPV CC1 Ltd will lead the tranche with Rs 74.25 crore ($8.25 million), followed by Kenro Capital, which will invest primary capital of Rs 13.75 crore. Premji Invest via PI Opportunities Fund II and Titan Capital via Winners Fund will be injecting Rs 11 crore each. The company will use the proceeds for operational expenses, including hiring, marketing, and other general corporate purposes, as per filings. According to Entrackr’s estimates, the firm’s valuation will rise to around Rs 4,900 crore ($545 million), which represents a 22% increase from its previous valuation of about Rs 4,000 crore when it raised Rs 530 crore. Founded in 2019, Giva originally launched as an affordable jewelry brand, has expanded into gold jewelry and lab-grown diamonds. Led by Ishendra Agarwal, the company now operates around 150 physical stores across India, alongside its website and app, and has adopted a franchise-led model to further expand its reach. The Bengaluru-based firm has raised over $146 million to date, including its Rs 255 crore Series B round, which was a mix of primary and secondary transactions led by Premji Invest and Epiq Capital. For the fiscal year ended March 2025, the jewelry brand’s operating revenue jumped 89% to Rs 518 crore from Rs 274 crore in FY24. However, its losses also grew 22% to Rs 72 crore during the same period.

GIVA to raise $53 Mn led by Creaegis at $465 Mn valuation

EntrackrEntrackr · 9m ago
GIVA to raise $53 Mn led by Creaegis at $465 Mn valuation
Medial

GIVA to raise $53 Mn led by Creaegis at $465 Mn valuation Omnichannel jewelry startup Giva is set to raise Rs 450 crore or $53 million in its Series C round led by Creaegis with the participation from Premji Invest, Epiq Capital, and others. The board at Giva passed a resolution to issue 1,73,430 Series C CCPS at an issue price of Rs 25,947 each to raise the aforementioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Creaegis through the CIF II Scheme will lead the round with Rs 235 crore or $27.6 million, followed by Premji Invest, which will invest Rs 125 crore ($14.7 million). Epiq Capital and Edelweiss Discovery Fund will be injecting Rs 45 crore and Rs 35 crore, respectively, and the remaining Rs 10 crore will be invested by Usha Dalmia Trust. The company will use the proceeds to cover operational costs, including hiring, marketing, general corporate purposes, and other expenses as outlined in the business plan, as per the filing. Apart from equity capital, Giva also raised Rs 30 crore in debt from Alteria Capital, a separate filing shows. The company has also increased its ESOP pool by 15,853 equity shares worth Rs 41 crore, taking the total pool value to Rs 203 crore ($24 million). According to Entrackr’s estimates, the company’s valuation will stand at around Rs 3,950 crore ($465 million), marking a 2X increase from the previous funding round of Rs 255 crore. Founded in 2019, Giva originally launched as an affordable jewelry brand, has expanded into gold jewelry and lab-grown diamonds. Led by Ishendra Agarwal, the company now operates around 150 physical stores across India, alongside its website and app, and has adopted a franchise-led model to further expand its reach. According to startup data intelligence platform TheKredible, the Bengaluru-based company has raised over $85 million to date. Prior to this round, founder Ishendra Aggarwal held a 25.10% stake, while Premji Invest owned 17.13%, India Quotient 13.38%, and A91 Partners 9.58%. For the fiscal year ended March 2024, the jewelry brand’s operating revenue grew 66% to Rs 274 crore from Rs 165 crore in FY23. However, its losses grew over 30% to Rs 59 crore during the same period. Giva competes with several notable players, including Bluestone, which filed its DRHP for Rs 1,000 crore IPO, CaratLane, Melorra, and a range of other funded and family-led physical and omnichannel brands.

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