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Robotics startup DiFACTO raises $4.8 Mn

EntrackrEntrackr · 1y ago
Robotics startup DiFACTO raises $4.8 Mn
Medial

Robot automation solutions provider DiFACTO has raised Rs 40 crore (about $4.8 million) from private equity firm Stakeboat Capital in its first funding round. The proceeds will be used to expand across sectors such as cars, home appliances and electronics, the company said in a release. Founded in 2007 by Ajay Gopalswamy, Difacto operates across four key segments–welding systems, material handling systems, foundry and machine tending systems, and fluid dispensing systems. The company claims to have delivered more than 1,000 projects to 300 customers across 15 countries. It has three factories in Bengaluru and branches in Pune and Gurugram while it also operates globally with a wholly-owned subsidiary in Troy, Michigan, USA. Its client base includes the likes of Mahindra Group, Tata Group, Maruti Suzuki and Toyota India . In FY24, the company’s revenue touched Rs 175 crore and it is expected to grow to Rs 225 crore in FY25. India’s automotive industry is expected to experience a CAGR of 12.7%, reaching $512 billion by 2026.

Essar to invest Rs 30,000 cr in green hydrogen plant in Gujarat

YourStoryYourStory · 1y ago
Essar to invest Rs 30,000 cr in green hydrogen plant in Gujarat
Medial

The Essar Group is set to invest Rs 30,000 crore in a green hydrogen plant in Gujarat, as it aims to become a leader in clean energy. The conglomerate is also looking to decarbonize its UK oil refinery and develop a green steel plant in Saudi Arabia. Additionally, Essar plans to enter the mining of critical minerals for use in electric vehicle batteries and renewable energy. The company aims to generate 1 gigawatt of hydrogen capacity and 1 million tonnes of green molecules per year over the next four years. The investment will be used for producing green molecules for export rather than green ammonia. Essar is also expanding its coal-based electricity generation and building a renewable energy platform. Furthermore, the group is working on a liquefied natural gas (LNG) and electric ecosystem for heavy trucks to contribute to a cleaner transportation sector. It currently has a fleet of LNG-powered and electric trucks.

IPO-bound Ola Electric raises $50 Mn debt from EvolutionX

EntrackrEntrackr · 1y ago
IPO-bound Ola Electric raises $50 Mn debt from EvolutionX
Medial

Ola Electric has raised Rs 410 crore (approximately $50 million) via non-convertible debentures from EvolutionX. The board at Ola Electric has passed a resolution to issue 41,000 NCD (non-convertible debentures) at an issue price of Rs 100,000 each to raise Rs 410 crore, its regulatory filing sourced from RoC shows. This is the second debt financing for Ola Electric in the last six months. In October 2023, it received $385 million in a funding round mix of equity and debt from Temasek-led marquee investors and the State Bank of India (SBI). According to startup data intelligence platform TheKredible, the firm has raised more than $1 billion across equity and debt and was valued at $5.4 million during the last round. ET reported the development first. Ola Electric has been working on its lithium-ion cell manufacturing facility with an initial capacity of 5 gigawatt hours in phase I which will be further scaled up in phases to 100 gigawatt hours at full capacity. Besides focusing on electric scooters, the firm has also introduced its motorcycle line-up scheduled to be launched by the end of this year. In December 2023, Ola Electric filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs 5,500 crore ($660 million). As per the company, it will utilize the primary proceeds for the expansion of the capacity of its cell manufacturing plant, repayment or pre-payment of the indebtedness, investment into research and product development, and general corporate purposes. Ola Electric is the second IPO-bound company that raised debt financing in recent times. Last week, fintech firm MobiKwik raised Rs 50 crore ($6 million) in debt from BlackSoil Capital. Entrackr exclusively reported the development. Temasek-backed EvolutionX has backed notable companies like Udaan, Mensa Brands, PharmEasy and LendingKart.

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round

EntrackrEntrackr · 3m ago
MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round
Medial

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round Drone technology startup Garuda Aerospace has raised Rs 100 crore ($11.6 million) in its Series B funding round led by Venture Catalysts (VCAT) at a post-money valuation of $250 million. Previously, the firm had raised $22 million in its Series A round led by Venture Capital firm SphitiCap in February 2023. The fresh proceeds will be used to scale up drone manufacturing, enhance production capabilities, and complete an R&D and testing center focused on defense drone technology. Founded in 2015 by Agnishwar Jayaprakash, Garuda has grown to a team of over 200 members and manufactures 30 drone types while offering 50 services. Garuda currently holds over 20 patents and operates a fleet of over 400 drones with 500 trained pilots across 84 cities. It serves clients including government agencies and major corporations such as TATA, Reliance, and Adani. It has also partnered with global companies like Lockheed Martin and Elbit Systems. As per TheKredible, Garuda Aerospace’s revenue from operations grew by 2.3X to Rs 110 crore in FY24 from Rs 47 crore in FY23. Its net profit reached Rs 16 crore in FY24, a 2.7X increase from Rs 6 crore in the previous year. Garuda competes with the likes of ideaForge, Aarav Unmanned Systems, Throttle Aerospace Systems, General Aeronautics, and Omnipresent Robot Tech in the drone manufacturing and drone-as-a-service (DaaS) segment across defense, agriculture, and industrial applications.

Rangsons Aerospace raises Rs 300 Cr led by ValueQuest

EntrackrEntrackr · 4m ago
Rangsons Aerospace raises Rs 300 Cr led by ValueQuest
Medial

Rangsons Aerospace, a product technology firm for aerospace, defense and homeland security, has raised Rs 300 crore ($36.5 million) led by ValueQuest Investment Advisors and had Anand Rathi Advisors as the financial advisor for the transaction. The proceeds will be used to produce products and solutions for the commercial and military aviation markets globally, and drive growth into new business areas through strategic acquisitions. Rangsons Aerospace is part of NR Group, a business group based in Mysore. It has three facilities across Bangalore and Mysore. Its product lines include satellite communications systems, airborne thermal management, and fluid distribution solutions. Rangsons is a tier I partner to global aerospace majors such as Boeing, GE, and Honeywell, among others. It also supplies several critical systems to Indian majors such as ISRO, Indian Navy, HAL and others.

Content-commerce platform Lehlah raises Rs 12.5 Cr in seed round

EntrackrEntrackr · 3m ago
Content-commerce platform Lehlah raises Rs 12.5 Cr in seed round
Medial

Lehlah, a content-commerce platform that helps influencers earn money by recommending products, has raised Rs 12.5 crore ($1.46 million) in seed round led by Gruhas, an investment firm co-founded by Nikhil Kamath of Zerodha and Abhijeet Pai of Puzzolana Group. The proceeds will be used to introduce more features, grow its team, and strengthen its position in India’s booming influencer-led shopping space. Founded in December 2022 by Ashna Ruia, daughter of Essar Group director Prashant Ruia, Lehlah partners with major e-commerce platforms like Myntra, Meesho, Flipkart, and Nykaa, along with D2C brands such as Libas and Foxtale. The platform, which initially focused on fashion and beauty, is now expanding into home accessories and gadgets. The brand operates with a 50-member team, with its marketing division in Mumbai and the tech team in Bengaluru. Lehlah follows a commission-based model where brands pay the platform when sales happen through influencers. Influencers using Lehlah currently earn between Rs 50,000 and Rs 1,00,000 per month, showing the platform’s potential to create sustainable income for creators.

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