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Exclusive: Data Sutram to raise $10-12 Mn led by Lightspeed and B Capital

EntrackrEntrackr ยท 11m ago
Exclusive: Data Sutram to raise $10-12 Mn led by Lightspeed and B Capital
Medial

Exclusive: Data Sutram to raise $10-12 Mn led by Lightspeed and B Capital B2B SaaS company Data Sutram is in advanced stages of securing $10-12 million in a new funding round, according to sources familiar with the development. The new round is coming within 15 months for the Mumbai-based startup. โ€œLightspeed Venture Partners and B Capital are leading the new round in Data Sutram as the deal is expected to close soon,โ€ said one of the sources. โ€œExisting investors will also participate.โ€ Founded in 2018 by Rajit Bhattacharya, Aisik Paul, and Ankit Das, Data Sutramโ€™s proprietary AI and ML-driven data engine automatically converts raw unstructured data from satellites, mobile phones, POS machines, and several other sources. Its product suiteโ€”Find, Authenticate, and Growโ€”has gained significant traction among major banks, NBFCs, and fintechs worldwide. The company asserts that its data insights drive a 3X boost in sales, reduce fraud cases by 45%, and enhance customer lifetime value (CLTV) by 1.5X. In September 2023, Data Sutram secured $3 million in funding, led by Singularity Growth Fund and other investors. Earlier, in February 2022, the company raised $2.07 million in a funding round spearheaded by Varanium Capital and Yatra Angel Network. As per sources, Data Sutram is looking for a valuation of $60-70 million (post money). Queries sent to Data Sutram, Lightspeed and B Capital remained unanswered until publication of the story. For the fiscal year ended in March 2024 (FY24), Data Sutram reported Rs 5.6 crore in revenue with a loss of Rs 10.8 crore.

Exclusive: Elevation Capital to lead $5 Mn round in Rumik.ai

EntrackrEntrackr ยท 6m ago
Exclusive: Elevation Capital to lead $5 Mn round in Rumik.ai
Medial

Exclusive: Elevation Capital to lead $5 Mn round in Rumik.ai Rumik has developed Ira, an AI system built to analyze emotion, understand user intent, and converse in languages such as Hinglish, Bangla, and Marathi. Conversational AI platform Rumik.ai is raising a new round led by Elevation Capital with participation from existing investors, according to two people aware of the matter. "Rumik recently raised $1.5 million from Info Edge, and Elevation is now leading a fresh $5 million in a new round," said a person who requested anonymity, as the details of the deal arenโ€™t public. Sources also indicated that Huddle Ventures and Info Edge invested in April and both are likely to participate in the new round as well. Incorporated in April 2024, Rumik AI focuses on providing its conversational AI platform to enterprises. It has developed Ira, an AI system built to analyze emotion, understand user intent, and converse in languages such as Hinglish, Bangla, and Marathi. The company emphasizes that Ira does more than just process data. It forms memories and experiences to develop human-like intelligence, aiming to bridge the gap between robotic responses and genuine understanding. โ€œThe term sheet has been signed, and the money is likely to move soon,โ€ said a second source who requested anonymity. โ€œGiven the recent investor interest in conversational AI and speech recognition, Rumik may be targeting a valuation in the range of $25โ€“30 million.โ€ Queries sent to Elevation, Rumik, Info Edge and Huddle did not elicit a response by the time of publication. Last month, Elevation Capital led a $6 million seed funding round in Agentic AI startup Adopt AI, which also features a conversational AI interface that executes tasks using natural language. In December 2024, the venture capital firm appointed former Meta executive Krishna Mehra as a partner to lead investments in software-as-a-service (SaaS) and AI.

Exclusive: Spinny in talks to mop up over $100 Mn in internal round

EntrackrEntrackr ยท 11m ago
Exclusive: Spinny in talks to mop up over $100 Mn in internal round
Medial

Exclusive: Spinny in talks to mop up over $100 Mn in internal round Tiger Global-backed Spinny is in talks to raise over $100 million in a new round mostly financed by existing investors, said three sources aware of the contours of the deal. Used car platform Spinny is preparing for a new round almost after a gap of over three years. The Tiger Global-backed company is in talks to raise over $100 million in a new round mostly financed by existing investors, said three sources aware of the contours of the deal. โ€œSpinny could raise up to $120 million from internal investors including Elevation Capital, Abu Dhabi Growth Fund, General Catalyst and Accel among others,โ€ said one of the sources on condition of anonymity. Sources assert that the talks are in an early stage and it may take a quarter to materialize. If the deal gets through, Spinny would be the first used car platform to raise a new round since late 2021. As per sources, its valuation more or less remains unchanged in the potential round. Market analysts point out that Spinny has emerged as a clear leader with a large delta in the used car retail space as the company appears to have cracked demand first transaction model. It has achieved this on the back of one of the lowest consumer acquisition costs and better gross margin. The Gurugram-based company also scaling auction-based verticals for dealers and car-financing businesses. Most of the money from the new round is likely to be deployed to grow the lending biz, said sources. โ€œSpinny sells close to 7,000 cars every month with an average transaction size of around 6 lakhs. It also sells around 5000 more cars every month on its B2B auction platform,โ€ said the source mentioned above. Queries sent to Spinny, Accel, Elevation and General Catalyst did not elicit an immediate response. According to startup data intelligence platform TheKredible, Spinny has raised around $500 million to date. Tiger Global and Accel are its largest stakeholders with 14.25% and 13.25% holding respectively. For the fiscal year ended in March 2024, Spinnyโ€™s revenue from operations increased to Rs 3,725.02 crore from Rs 3,259.78 crore in FY23โ€‹. During the period, its losses reduced by 28% to Rs 590.37 crore.

Exclusive: Spinny to raise $165 Mn as Accel Leaders Fund doubles down

EntrackrEntrackr ยท 14d ago
Exclusive: Spinny to raise $165 Mn as Accel Leaders Fund doubles down
Medial

Exclusive: Spinny to raise $165 Mn as Accel Leaders Fund doubles down Used car retailing platform Spinny is in late-stage talks to raise a $160โ€“165 million round co-led by its existing investor, Accel Leaders Fund, according to three people aware of the development. With this, the Gurugram-based company will end up raising over $320 million in 2025. โ€œThis will be a fresh round, separate from the $160 million raised earlier this year including the $30 million top up,โ€ said one of the sources, requesting anonymity. โ€œA significant portion of the primary infusion is earmarked for payouts related to Spinnyโ€™s recent acquisition of GoMechanic and to support its smooth operations.โ€ According to sources, about $90 million of the new round will be primary capital, while the remaining proceeds will facilitate complete or partial exits for some early and mid-stage investors. Entrackr has reviewed the companyโ€™s latest regulatory filings, which show Spinnyโ€™s board approving the issuance of 10.45 lakh Series G preference shares to raise Rs 395 crore. As indicated earlier, the primary capital from the broader $160โ€“165 million round is expected to land soon. As per sources, the round also keeps Spinnyโ€™s valuation flat at $1.5 to $1.8 billion post-money. โ€œApart from Accel Leaders Fund, a new investor is likely to participate in the round,โ€ said the person quoted above. Messages to Spinny CEO Niraj Singh went unanswered, and Accel did not offer an immediate response. The company operates a full stack model covering inspection, refurbishment, documentation and financing of used cars. Spinny currently sells more than 12,000 cars a month, combining both B2B and B2C, with an average transaction value of about Rs 6 lakh. Data sourced from the startup data intelligence platform TheKredible shows Spinny has raised about $676 million prior to this round. Tiger Global and Accel are its largest shareholders. Spinnyโ€™s operating revenue rose by 25% to Rs 4,657 crore from Rs 3730 crore in the fiscal year ending March 2025, while its losses narrowed 28% to Rs 423 crore during the last fiscal year.

Exclusive: Bluecopa kicks off Series A with a 2.3X valuation surge

EntrackrEntrackr ยท 1m ago
Exclusive: Bluecopa kicks off Series A with a 2.3X valuation surge
Medial

url: https://entrackr.com/exclusive/exclusive-bluecopa-kicks-off-series-a-with-a-23x-valuation-surge-10788821. Content: FinOps automation platform Bluecopa to begin its Series A round with a Rs 64.7 crore (around $7.35 million) fundraise led by Valorshield Pte Ltd (Analog), with participation from existing investors Blume Ventures and Dallas Venture Capital. This investment follows the companyโ€™s $1.8 million pre-Series A round secured in September last year. The Bluecopaโ€™s board has issued 4,562 Series A compulsory convertible preference shares at an issue price of Rs 1,41,849.13 per share to raise the above-mentioned amount, according to its filing with the Registrar of Companies (RoC). Valorshield Pte Ltd led (Analog) the round with Rs 38.8 crore ($4.4 million) investment, while the existing investors Blume Ventures and Dallas Venture Capital participated with Rs 12.93 crore each. According to Entrackrโ€™s analysis, Bluecopaโ€™s valuation surged 2.3X to Rs 306 crore or approximately $35 million post money, compared to Rs 133 crore valuation in its previous $1.8 million round. Co-founded in 2021 by Nilotpal Chanda, Raghavendra Reddy, and Satya Prakash Buddhavarapu, Bluecopa uses AI and data analytics to help CFOs automate and optimize financial operations. Its cloud-native platform offers a unified system for modern finance teams, enabling autonomous processes that streamline workflows and improve overall efficiency. According to startup data intelligence platform TheKredible, the Hyderabad-based company has raised around over $11 million to date including its seed round of $2.3 million raised in August 2022. Financially, for the fiscal year ended March 2024, the Blume-backed company reported operating revenue of just Rs 5.2 lakh and non-operating income of Rs 27.38 lakh. It posted a net loss of Rs 7.2 crore during the period. The company has yet to disclose its FY25 financials.

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