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

News on Medial

Related News

Exclusive: Akshayakalpa Organic to raise Rs 175 Cr in primary capital led by Temasek’s ABC Impact

EntrackrEntrackr · 1d ago
Exclusive: Akshayakalpa Organic to raise Rs 175 Cr in primary capital led by Temasek’s ABC Impact
Medial

Exclusive: Akshayakalpa Organic to raise Rs 175 Cr in primary capital led by Temasek’s ABC Impact Organic dairy startup Akshayakalpa Organic is raising Rs 175 crore (around $19 million) in its Series D round led by ABC Impact Fund, with participation from existing investors. According to regulatory filings sourced from the Registrar of Companies (RoC), the company’s board has passed a special resolution to issue 36.81 lakh Series D compulsory convertible preference shares at an issue price of Rs 475 per share to raise the aforementioned amount. ABC Impact, through IMP2 Growth Pte Ltd, is set to lead the round with an investment of Rs 101 crore. Among other participants, Rainmatter will invest Rs 21 crore, while Asha Ventures and Catamaran Ventures will infuse Rs 16 crore each. Existing investors, including Waterfield Fund, Pratithi Growth Fund, and A91 Partners, are expected to contribute the remaining capital. As per Entrackr’s estimates, the round values the company at around Rs 1,600–1,700 crore on a post-money basis. The proceeds will be utilised for working capital requirements and expansion initiatives, as per the filings. Sources indicate that the round also includes a secondary component, with ABC Impact Asia facilitating exits for early investors such as Venture Dairy and others. Entrackr has reached out to Shashi Kumar, CEO of Akshayakalpa Organic, for comments, but the company declined to respond. The company is reportedly in talks to raise Rs 350 crore in the new round. Founded by GNS Reddy and Shashi Kumar, Akshayakalpa Organic delivers organic milk and dairy products to over 60,000 consumers daily across Bengaluru, Hyderabad, and Chennai via its direct-to-consumer platform. The company’s products are also available in more than 2,000 retail outlets and across major e-commerce and quick commerce platforms. During FY25, Akshayakalpa Organic reported 38% year-on-year growth to Rs 387 crore, while the net losses of the company remained stable at Rs 27.3 crore during the same period.

Rare Rabbit raises $18 Mn from A91 Partners, Zerodha founders’ fund, others

EntrackrEntrackr · 1y ago
Rare Rabbit raises $18 Mn from A91 Partners, Zerodha founders’ fund, others
Medial

New-age fashion brand Rare Rabbit has raised Rs 150 crore (approximately $18 million) in primary capital led by A91 Partners. This is the maiden institutional investment for a Bengaluru-based company since its inception in 2015. The board at Rare Rabbit has passed a special resolution to issue 69,230 compulsory convertible preference shares at an issue price of Rs 21,670 each to raise Rs 150 crore, its regulatory filings accessed from the Registrar of Companies show. A91 Partners led the round with Rs 102 crore while Zerodha’s founders NKSquared injected Rs 29 crore. Gruhas Proptech, Ravi Modi Family Trust, and Vendant Modi cumulatively participated with Rs 18.92 crore during the investment. As per TheKredible’s estimates, the company has been valued at around Rs 2,350 crore or $283 million post-allotment. Following the fresh proceeds, the A91 emerging fund will hold 9.65% of the capital while NKSquared and Ravi Modi Family Trust will get 4.15% and 2.13% of the stake in the company, the filing further added. This appears to be a part of a larger round as Rare Rabbit was in talks to raise Rs 500 crore led by A91 partners. Inc42 reported the development first. Rare Rabbit is a high-end fashion brand specializing in designer clothing for men and women. The brand operates more than 100 stores across India and offers collections through its online store. Rare Rabbit demonstrated rapid growth, which is evident from its revenue that scaled 72.3% to Rs 381 crore in FY23 with a positive bottom line of Rs 32 crore in FY23. The company reportedly clocked a revenue of Rs 600 crore in FY24. Rare Rabbit competes with brands like Souled Store, which raised around $29 million and achieved a revenue of Rs 235 crore in FY23. Its other competitors Snitch and WROGN also raised $13 million and $15 million in December 2023 and June respectively. In the past couple of months, a clutch of fashion and apparel brands have raised their maiden institutional round. In May, A91 Partners led a $21 million round in TechnoSport whereas Libas raised $18 million led by ICICI Venture’s fund.

A91 Partners closes $665 Mn Fund III

EntrackrEntrackr · 11m ago
A91 Partners closes $665 Mn Fund III
Medial

A91 Partners has announced the final close of its third fund at $665 million. With Fund III, A91 plans to continue backing growth-stage businesses and supporting founders with scale and strategic capital. “We started A91 in 2018 with the following beliefs - patient capital will play an important role in accelerating value creation in Indian businesses across sectors. We also believed in the opportunity to create a world-class Indian investment firm - for founders who are aiming to build large enduring businesses from India. All these beliefs have been strengthened over the last 6 years,” said A91 Partners in a Linkedin post. Founded in 2018 by former Peak XV partners Gautam Mago, Abhay Pandey, Kaushik Anand, and VT Bharadwaj, A91 Partners was created to support Indian entrepreneurs building long-term businesses. The firm focuses on investing across sectors such as consumer, healthcare, financial services, and technology. The firm said it remains committed to being a long-term partner to both founders and Limited Partners as it continues to grow its presence in the Indian private equity landscape. A91 Partners has also made investments in sectors like coffee, spices, and home appliances, including backing brands such as Atomberg. It led a $30 million Series B funding round in Blue Tokai Coffee Roasters. The firm’s portfolio includes companies like Digit Insurance, Inshorts, Sugar Cosmetics, Exotel, Healthkart, Paper Boat, and Plum, among others. Go Digit General Insurance, one of A91’s portfolio companies, went public last year. In a recent disclosure, the International Finance Corporation (IFC) said that it is considering an investment of up to $35 million in A91 Partners’ third fund, with the possibility of committing an additional $30 million for co-investment opportunities.

Exclusive: Country Delight raises $9 Mn through debt and equity

EntrackrEntrackr · 1y ago
Exclusive: Country Delight raises $9 Mn through debt and equity
Medial

Dairy brand Country Delight has raised Rs 76 crore ($9 million) through debt and equity from Alteria Capital. This is the second funding for the Gurugram-based company this year. The board at Country Delight has passed a special resolution to issue 70,000 debentures at an issue price of Rs 1,00,000 each and 3,160 Series E1 CCPS at an issue price of Rs 21,045 each to raise Rs 76.65 crore, its regulatory filing accessed from RoC shows. In January, Country Delight raised 20 million in its series E round from Temasek, Seviora Capital, Venturi Partners, and others. The company is close to becoming a unicorn as it was valued at around $820 million in the last equity round. It has raised around $175 million to date. Launched by Chakradhar Gade and Nitin Kaushal, Country Delight provides a range of dairy products, bakery goods, poultry, and farm produce to its customers. The company sources its products directly from dairy farms and caters to customers in 15 cities including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune. As per startup data intelligence platform TheKredible, Orios Venture Partners was the largest stakeholder in Country Delight with 21.35% stake followed by Matrix and Elevation with 16.59% and 9.38% stake respectively. In February, Orios Venture Partners made a partial exit from Country Delight by selling 3% stake for around Rs 225 crore. Orios sold its stake to Temasek-backed asset management group Seviora. As per media report, Country Delight’s operating revenue stood at Rs 650 crore in the first half of the ongoing financial year (FY24). In FY23, its revenue was estimated at around Rs 900 crore against Rs 542.6 crore in FY22. The firm is yet to report FY23 numbers officially. In January, Country Delight’s competitor Akshayakalpa Organic raised $12 million in its Series C round led by A91 Partners. The firm is in talks to close a larger round to the tune of $25 million.

Blue Tokai raises $25 Mn in a bridge funding round from existing investors

EntrackrEntrackr · 6m ago
Blue Tokai raises $25 Mn in a bridge funding round from existing investors
Medial

Blue Tokai raises $25 Mn in a bridge funding round from existing investors Speciality coffee chain Blue Tokai Coffee Roasters has raised $25 million (around Rs 220 crore) in a bridge funding round from existing investors A91 Partners, Anicut, Verlinvest, and 12 Flags. The proceeds will be used to scale retail operations, strengthen back-end infrastructure, and expand into international markets such as Dubai and Japan. In India, the funds will also support new store launches and the expansion of its roasteries and bakery facilities in Bengaluru and Gurugram. Blue Tokai currently operates cafes across multiple Indian cities and has positioned itself as a premium coffee brand. The founders said they are revising their growth targets upwards. Earlier, the plan was to achieve Rs 1,000 crore in revenue and Rs 100 crore EBITDA by 2027. Now, the company aims for over 800 stores and Rs 2,000 crore revenue within the next four years. Blue Tokai has raised over $105 million to date, including its $30 million Series C round led by Verlinvest in August last year. According to the startup data intelligence platform TheKredible, A91 Partners was the largest external stakeholder with 22.77% followed by Verlinvest. As per TheKredible, Blue Tokai Coffee Roasters achieved over five-fold growth in the past four fiscal years. The brand's revenue grew from Rs 41 crore in FY21 to Rs 75 crore in FY22, Rs 127 crore in FY23, and Rs 216 crore in FY24. It competes with Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

KaarTech raises $11 Mn led by Playbook Partners

EntrackrEntrackr · 11d ago
KaarTech raises $11 Mn led by Playbook Partners
Medial

News All Stories KaarTech raises $11 Mn led by Playbook Partners Digital transformation consulting company KaarTech has raised $11 million (about Rs 100 crore) in a funding round led by Playbook Partners. The round also saw participation from existing backer A91 Partners. Entrackr had exclusively reported the current round last week. According to Entrackr’s estimates, KaarTech is valued at around Rs 2,100 crore or around $231 million (post-money). In July 2023, KaarTech raised $30 million from A91 Partners. As per an ET report, the proceeds will be used to expand KaarTech’s presence in North America and Europe, strengthen hiring in those regions, and explore acquisitions that can enhance its product stack. Founded in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumaran M and Guardian George, the company helps enterprises migrate legacy systems to cloud-based infrastructure and build AI-ready technology stacks. KaarTech provides SAP-led digital transformation services to enterprises, including cloud migration, data platforms, AI and automation, analytics, and managed services. The company works with large global clients across sectors such as aviation, energy and government. The Chennai-based firm’s revenue grew 56.8% to Rs 718 crore in FY25 from Rs 458 crore in FY24. It also turned profitable in FY25, reporting a net profit of Rs 7.74 crore in FY25 compared to a loss of Rs 66.93 crore in FY24. The company primarily serves international markets, including the Gulf region, North America and Europe, and is targeting revenue of more than Rs 1,000 crore in FY26.

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