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Entellus Industries raises Rs 50 Cr from ZeroW

EntrackrEntrackr · 5h ago
Entellus Industries raises Rs 50 Cr from ZeroW
Medial

Entellus Industries raises Rs 50 Cr from ZeroW Chennai-based Entellus Industries has raised Rs 50 crore (about $5.5 million) in its second funding round led by ZeroW. Entellus had earlier raised $12 million from Silicon Valley–based Social Capital to establish its NdPr metal and bonded powder alloy plants. The proceeds will be used primarily for capital expenditure to expand Entellus’ manufacturing capabilities into sintered alloys and to commercialise its existing rare earth products. With this expansion, the firm expects to support a production capacity of around 2,000 tonnes of magnets annually. Founded in 2022, Entellus focuses on manufacturing rare earth metals and alloys, including neodymium-praseodymium (NdPr) metal, bonded powders, and strip-cast alloys. These materials are key inputs for permanent magnets used across electric vehicles, wind energy, defence systems, and advanced electronics. The brand is setting up its manufacturing operations in Tamil Nadu. ZeroW is backed by the Mekapati Family Office, promoters of the KMC Group, described as one of India's largest infrastructure conglomerates. The firm specializes in investments in deep-tech and emerging sectors.

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Exclusive: Cleantech firm Hygenco raises Rs 50 Cr debt

EntrackrEntrackr · 1y ago
Exclusive: Cleantech firm Hygenco raises Rs 50 Cr debt
Medial

Cleantech startup Hygenco has raised Rs 50 crore (approximately $6 million) via non-convertible debentures from Trifecta. This is the first debt investment for the Gurugram-based company this year. The board at Hygenco has passed a special resolution to issue 500 debentures at an issue price of Rs 1,00,000 each to raise Rs 50 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned dentures are issued for a tenure of 24 months and carry an interest rate of 14.5% per annum, the filing added. Hygenco specializes in developing and deploying commercial systems for green hydrogen and ammonia production. Its solutions cater to large-scale process industries, marine and terrestrial transportation, and personal mobility sectors. Hygenco secured its first investment of $25 million from the SBI through (Neev II Fund) in October 2022. Media reports suggest the company aims to raise a total of $100 million by the end of this year. The company also partnered with Jindal Stainless to set up the country's first green hydrogen plant. According to startup data intelligence platform TheKredible, SBI, through its Neev II Fund, holds a 49.6% stake in Hygenco. The company's co-founders—Amit Bansal, Anshual Gupta, and Aashish Gupta—collectively own 46.1% of the company. The company was in the pre-revenue stage till the financial year ended March 2023 with a loss of Rs 6.3 crore. Hygenco has yet to file annual results for the previous fiscal year (FY24).

Exclusive: Edu-fintech company Auxilo raises Rs 225 Cr debt

EntrackrEntrackr · 2m ago
Exclusive: Edu-fintech company Auxilo raises Rs 225 Cr debt
Medial

Exclusive: Edu-fintech company Auxilo raises Rs 225 Cr debt Auxilo, an education-focused non-banking financial company (NBFC), has secured Rs 225 crore (around $25.5 million) in debt funding from Neo Group, Nuvama Wealth, Dezerv, and The South Indian Bank. Earlier this year in February, Motilal Oswal invested Rs 50 crore in Auxilo through a debt round, as exclusively reported by Entrackr. The Auxilo’s board has issued 22,500 non-convertible debentures (NCDs) at a face value of Rs 1,00,000 each to raise the above-mentioned sum, according to its filing with the Registrar of Companies (RoC). Neo Group led the debt round with a Rs 100 crore ($11.36 million) investment, while Nuvama Wealth and Dezerv contributed Rs 50 crore each, and The South Indian Bank added Rs 25 crore. The debentures carry an interest rate of 9.7% per annum with a three-year tenure, while those issued to The South Indian Bank come at a 10% annual interest rate. Founded in 2016, Auxilo provides education loans to students for higher studies in India and abroad and to educational institutes for infrastructure modernization. Its educational loans include all the expenses related to the course, including classroom expenditures, pre-visa approvals, and airfares. For the fiscal year ended March 2025, Auxilo’s operating revenue rose nearly 50% to Rs 528 crore from Rs 357 crore in FY24. During the same period, the company’s profit surged 62% to Rs 112 crore.

3ev Industries raises Rs 120 Cr in Series A led by Mahanagar Gas

EntrackrEntrackr · 2m ago
3ev Industries raises Rs 120 Cr in Series A led by Mahanagar Gas
Medial

3ev Industries raises Rs 120 Cr in Series A led by Mahanagar Gas Electric vehicle (EV) OEM company 3ev Industries has raised Rs 120 crore in Series A funding round led by Mahanagar Gas. The round also witnessed participation from Equentis Angel Fund and Thackersey Group. MGL committed Rs 96 crore as the lead investor, while other participants included the Thackersey Group with Rs 10.46 crore and Equentis with Rs 8.15 crore. Additional contributions came from a group of HNIs, UHNIs, and family offices amounting to Rs 4.82 crore. The proceeds will be utilized to expand its manufacturing capabilities, powering the launch of its pioneering 3C division (charging, care & conversions), and accelerate advancements in supply chain integration and research across regenerative braking systems, advanced materials, and solar-enabled cold chain EV technologies, 3ev Industries said in a press release. Co-founded in 2019 by Peter Hartmut and CG Krishna Bhupathi, 3ev Industries is a Bengaluru-based electric vehicle OEM focused on delivering affordable, reliable, and scalable mobility solutions for India’s growing last-mile and urban transport needs. Alongside its Battery-as-a-Service (BaaS) platform, it integrates manufacturing, financing, and aftermarket support to make EV adoption seamless for customers. As per market research, the urban mobility segment is projected to grow at a 19.5% CAGR, reaching $18.7 billion by 2035 and achieving over 60% penetration in total three-wheeler sales. "This investment initiated in FY25 marked a defining milestone for 3ev Industries. With this funding, we have strengthened our build quality, after-market capability and tailored financing solutions that make EV adoption seamless for our customers. Our mission has always been to transform last-mile connectivity with sustainable mobility through an Ecosystem approach, and this partnership gave us the resources and strategic support to target that,” said Peter Voelkner, MD, 3ev. 3ev has demonstrated traction through the receipt of this funding, nearly doubling vehicle sales from 438 in FY24 to a projected 834 in FY25, with revenues rising from Rs 17.8 crore in FY24 to Rs 54.7 crore in FY25. By FY26, the company targets a revenue of Rs 65 crore with a positive EBITDA margin.

Flipspaces raises Rs 50 Cr from Asiana Fund

EntrackrEntrackr · 7m ago
Flipspaces raises Rs 50 Cr from Asiana Fund
Medial

Flipspaces raises Rs 50 Cr from Asiana Fund Commercial interior design startup Flipspaces has raised Rs 50 crore (around $5.9 million) from Asiana Fund. The round is an extension of a $35 million round raised last month. The fresh capital will be used to scale operations across India, the US, and the UAE, strengthen its proprietary technology platform, and evaluate strategic acquisitions in related sectors. Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan, Flipspaces provides full-stack interior design and execution services for commercial spaces. The company’s tech-enabled offering includes space visualization, project management tools, and product sourcing capabilities. Kunal Sharma, Co-founder and CEO of Flipspaces, said, “Asiana’s decades of experience in building operational scale and customer-first brands will be of immense value to us. Their insights will help our leadership team sharpen strategy and execution.” Flipspaces claims to have delivered over 8 million sq. ft. of commercial spaces for over 1,000 clients globally, including SMBs, large enterprises, co-working spaces, and retail brands. Its proprietary tools enable immersive visualizations and remote project monitoring through 360-degree views, enhancing client experience and operational efficiency. While Flipspaces has yet to file its annual financial report for FY25, the company registered an operating revenue of Rs 190 crore in FY24, a 90% increase from Rs 100 crore in FY23. The company reduced its losses to Rs 8 crore in FY24 from Rs 19 crore in FY23.

CredAble raises Rs 30 Cr from SIDBI

EntrackrEntrackr · 1y ago
CredAble raises Rs 30 Cr from SIDBI
Medial

Fintech startup CredAble has raised Rs 30 crore ($3.6 million) in debt funding from SIDBI. The fund will be used to scale up its operations and extend affordable financing solutions to MSMEs and women-led businesses in India, CredAble said in a press release. Founded in 2017 by Nirav Choksi and Ram Kewalramani, CredAble provides working capital to large, mid, and emerging corporates, as well as micro, small, and medium enterprises (MSMEs), and financial institutions. Beyond traditional banking and loan products, the company has built a comprehensive working capital infrastructure for digitising corporate-led financing and underwriting needs. CredAble’s platform hosts over 125 corporate customers, over 3,50,000 small business borrowers, and more than 35 large financial institutions and banks. The company recently had dedicated Rs 200 crore to back women-led enterprises and has supported more than 50 such businesses across India over the course of 10 months. In March, CredAble raised $10 million in a new round from Singapore-based Equentia Natural Resources. It has raised nearly $60 million to date. CredAble’s revenue from operations grew 2.78X to Rs 13.94 crore in FY23 from Rs 4.92 crore in FY22. In pursuit of growth, the losses of the company surged 3.37X to Rs 22.40 crore in FY23 from Rs 6.53 crore in FY22.

Arthan Finance raises Rs 50 Cr in Series B round

EntrackrEntrackr · 1y ago
Arthan Finance raises Rs 50 Cr in Series B round
Medial

Non-banking financial company (NBFC) Arthan Finance has raised Rs 50 crore ($6 million) from investors such as Incofin India Progress Fund and the Michael and Susan Dell Foundation. Till date, Arthan Finance has raised Rs 83 crore ($10 million). Previous funding rounds saw participation from the founders, angel investors, and the Michael & Susan Dell Foundation. The proceeds will be used to boost the firm’s expansion and technological progress. This will also help Arthan Finance grow its Assets Under Management (AUM), expand its geographic footprint, and invest in advanced AI and ML-based underwriting systems, the company said in a press release. Founded by Kunal Mehta, Arthan Finance is a new age lending tech NBFC specializing in loans for self-employed nano and micro entrepreneurs. The firm currently operates in Maharashtra, Odisha, Andhra Pradesh, and Telangana, providing growth capital to self-employed nano and micro enterprises in tier II, III, and IV cities. The company claims to have disbursed over Rs 500 crore to more than 20,000 borrowers, with loan amounts ranging from Rs 2,000 to Rs 20 lakhs.

Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures

EntrackrEntrackr · 1y ago
Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures
Medial

Small and medium enterprises focused digital lending platform Lendingkart has secured Rs 100 crore ($12 million) in debt and Rs 8 crore (nearly $1 million) in equity from Stride Ventures. This is the second major debt closure by the Ahmedabad-based firm in the past year. The board at Lendingkart has passed a board resolution to issue 10,000 non-convertible debentures and 454 Series D5 CCPS to raise Rs 108 crore or $13 million, its regulatory filing accessed from the RoC shows. As per the filings, the Temasek-backed company has raised Rs 318 crore ($38 million) in debt to date. Lendingkart will receive the debt fund in two tranches of Rs 50 crore ($6 million) each and it will carry a coupon rate of 14% per annum. According to the startup data intelligence platform TheKredible, the company has been valued at around $690 million post-allotment. Just last month, LendingKart raised $10 million through external commercial borrowing (ECBs) from a fund managed by BlueOrchard. As of now, Lenskart has mopped up Rs 1,050 crore ($126 million) in equity capital from investors like Fullerton, Bertelsmann, Mayfield India, Saama Capital, Sistema Asia and India Quotient. Lendingkart disburses loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSME business owners. As per its website, it has disbursed over Rs 18,700 crore to over 300,000 businesses present in 4,100 cities. Lendingkart performed well in FY23 as its revenue from operations grew by 33.4% to Rs 858 crore. Meanwhile, the firm also posted Rs 119 crore profit in the same period. It’s yet to file annual financial results for FY24. As per a media report, the company is planning for an initial public offering (IPO) by next year. Lenskart is targeting to cross Rs 10,000 crore in assets under management before going public.

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