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Exclusive: Bellatrix Aerospace to raise Rs 107 Cr at 2.7X valuation premium

EntrackrEntrackr · 7d ago
Exclusive: Bellatrix Aerospace to raise Rs 107 Cr at 2.7X valuation premium
Medial

Exclusive: Bellatrix Aerospace to raise Rs 107 Cr at 2.7X valuation premium Spacetech startup Bellatrix Aerospace is set to raise Rs 107 crore (approximately $11.7 million) in its Series B round from a mix of new and existing investors. The Bengaluru-based company is raising fresh capital after a gap of nearly 12 months. The board of Bellatrix Aerospace has passed a special resolution to issue 10 equity shares and 8,337 Series B preference shares at Rs 127,695 each to raise the aforementioned amount, according to regulatory filings reviewed by Entrackr. Cactus Partners Fund will lead the round with an investment of Rs 28.5 crore, followed by Hero Enterprise Partner Ventures with Rs 25 crore. GrowX Ventures and 35 North India Growth will invest Rs 16.26 crore and Rs 13 crore, respectively. The remaining amount will be contributed by other existing investors. According to Entrackr’s estimates, the company will be valued at around Rs 870 crore, representing a 2.7X jump compared to its previous round. Founded in 2015, Bellatrix Aerospace builds advanced propulsion systems for satellites. Its technology enables the deployment of small satellites into orbit and the transportation of large communication satellites to geostationary orbit. Last year, the company also announced the expansion of its operations to the US and unveiled plans to set up a propulsion systems manufacturing unit in Delaware to cater to the American market. Bellatrix has raised a total of $24.2 million to date, including its $3 million pre-Series B round in April 2025 and an $8 million Series A round in 2022. The BASF Venture Capital-backed firm remained in the pre-revenue stage, reporting a modest revenue of Rs 1.75 crore while its losses stood at Rs 25.27 crore during the same period.

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Bellatrix Aerospace to secure fresh funds at flat valuation

EntrackrEntrackr · 11m ago
Bellatrix Aerospace to secure fresh funds at flat valuation
Medial

Spacetech startup Bellatrix Aerospace is set to raise Rs 26 crore (approximately $3 million) in a pre-Series B round from existing investors including Inflexor Ventures, StartupXseed Ventures, Pavestone VC, Survan Partners, and others. Previously, the company raised $8 million in its Series A round led by BASF Venture Capital in June 2022. According to regulatory filings accessed from the Registrar of Companies (RoC), the board at Bellatrix approved a resolution to issue 4,873 pre-Series B compulsorily convertible preference shares (CCPS) at an issue price of Rs 53,450 each to raise the aforementioned amount. The company has already received Rs 10.8 crore and is expected to receive the remaining funds soon. As per Entrackr’s estimates, the company’s valuation stood at Rs 314 crore or $37 million, reflecting flat valuation compared to the previous round. Founded in 2015, Bellatrix Aerospace develops advanced propulsion systems for missions ranging from deploying nanosat constellations to ferrying heavy communication satellites to geostationary orbit. It created the world’s first commercial Microwave Plasma Thruster using water as fuel and secured an order from ISRO. Recently, Bellatrix Aerospace announced the expansion of operations to the US and plans to set up manufacturing facilities in Delaware. According to startup data intelligence platform TheKredible, the Bengaluru-based startup has raised approximately $12.5 million to date from StartupXseed Ventures, Pavestone VC, Inflexor Ventures, and others. For the financial year ended 2024, the spacetech startup reported Rs 2 crore in operating revenue, while incurring Rs 12.35 crore loss during the same period. Bellatrix Aerospace competes with other prominent spacetech startups such as Agnikul, Skyroot Aerospace, Pixxel, Dhruva Space, Digantara, and others. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Exclusive: Credilio kicks off Series A; valuation jumps 2.7X

EntrackrEntrackr · 16d ago
Exclusive: Credilio kicks off Series A; valuation jumps 2.7X
Medial

Exclusive: Credilio kicks off Series A; valuation jumps 2.7X Fintech startup Credilio has raised around Rs 30 crore (approximately $3.3 million) in its Series A round led by existing investor Cornerstone Ventures, with participation from Ashra Private Equity Fund. The company’s board has passed a resolution to allot 2,481 compulsory convertible cumulative preference shares (CCCPS) at an issue price of Rs 1,20,880 per share to raise the aforementioned amount. Cornerstone Ventures led the round with an investment of Rs 20 crore, followed by Ashra Private Equity Fund, which infused Rs 10 crore. According to Entrackr’s estimates, Credilio’s valuation has jumped 2.7X to Rs 330 crore (approximately $36.5 million) post-money, compared with its last seed round, which was at Rs 120 crore valuation. According to the filing, the proceeds from the issue will be used for growth, expansion, and general corporate purposes. The company may raise additional capital as the round progresses. Following the latest proceeds, Cornerstone Ventures and Ashra Private Equity Fund hold 17.90% and 3.03%, respectively, on a fully diluted basis. Its cofounders, Aditya Gupta, Anand Kapadia, and Sandeep Ghule hold 12.21% each in the company. Mumbai-based firm had previously raised $4 million (around Rs 30 crore) in its pre-Series A round from Cornerstone Venture Partners Fund (CSVP Fund), Exfinity Venture Partners, and Param Capital founder Mukul Agarwal in his personal capacity. Founded in 2020 by Aditya Gupta, Sandeep Ghule, and Anand Kapadia, Credilio is a digital platform that connects financial advisors, lenders, and consumers, enabling seamless distribution of credit cards and loan products. Credilio reported flat revenue at Rs 79.79 crore in FY25 compared to Rs 79.67 crore in FY24, while its losses declined slightly to Rs 19.35 crore in the same period.

Exclusive: Good Monk to top up pre-Series A at 2.7X valuation premium

EntrackrEntrackr · 2m ago
Exclusive: Good Monk to top up pre-Series A at 2.7X valuation premium
Medial

Exclusive: Good Monk to top up pre-Series A at 2.7X valuation premium Good Monk, the flagship brand of Superfoods Valley, is set to top up its pre-Series A round with Rs 25 crore ($2.7 Mn) in funding, led by existing investor RPSG Capital Ventures, with participation from Sharrp Ventures and others. This will be an extension of the company’s pre-Series A round, following its $2 million raise in April last year led by RPSG Ventures, with participation from Multiply Ventures, Sharrp Ventures, and ThinKuvate. The Good Monk’s board has passed a resolution to approve the issuance of 3,334 pre-Series A4 CCPS at an issue price of Rs 74,652.86 per share, to raise the aforementioned sum, according to its filings with the Registrar of Companies (RoC). RPSG Capital Ventures will lead the infusion with Rs 15.8 crore, followed by Sharrp Ventures, which will invest Rs 4.5 crore. The remaining amount will be contributed by Aashray Family Trust and angel investors Manmohan Singh, Srivar Harlalka, and Narinder Sawhney. According to Entrackr’s analysis, the company’s valuation will jump over 2.7X to Rs 175 crore, from Rs 64 crore in the previous round. The proceeds will be used to scale operations and expand the business. Founded by husband-and-wife duo Amarpreet Singh Anand and Sahiba Kaur, Good Monk offers nutrition products, including multivitamin and probiotic mixes and fiber supplements for kids and adults. It retails through its own website as well as leading e-commerce platforms, including Amazon, Flipkart, Blinkit, and Zepto. The Bengaluru-based company had raised nearly $3 million prior to this round. The startup recently appeared on Shark Tank Season 4 and secured a deal from Vineeta Singh, co-founder of Sugar Cosmetics. Following the infusion, RPSG Capital Ventures will hold a 19.78% stake in the company, while Sharrp Ventures will own 6.81%. The co-founders will collectively retain around a 40.18% stake. RPSG Capital is a notable investor in the health and wellness space and has backed several startups, including Nutrabay, Plix, and True Elements.

Exclusive: Robotics startup Miko to raise $155 Mn at $550 Mn valuation

EntrackrEntrackr · 7m ago
Exclusive: Robotics startup Miko to raise $155 Mn at $550 Mn valuation
Medial

Exclusive: Robotics startup Miko to raise $155 Mn at $550 Mn valuation Child companion robot maker Miko is raising Rs 1,325 crore ($155 million) in its Series D round from AMDG-PAX Foundation, a US-based non-profit organisation. The board of RN Chidakashi Technologies Private Limited, which operates under the brand name Miko, has passed a special resolution to issue 22,465 preference shares at an issue price of Rs 5.9 lakh each to raise the sum, its regulatory filing with the Registrar of Companies (RoC) shows. According to the filing, the fresh proceeds will be utilized to meet business requirements and other general corporate purposes. Entrackr estimates the company’s post-money valuation at around $550 million, a 2.7X increase from its previous round. Queries sent to Miko on Friday did not receive any response until the story was published. Miko.ai runs on a hybrid model, selling AI-powered robots such as Miko Mini and Miko 3 priced in the Rs 15,000–25,000 range, while also pushing its premium subscription Miko Max to drive recurring revenues beyond device sales. The company claims to serve customers in over 140 countries, including the US, Europe, and the Middle East. So far, Miko has raised over $75 million (excluding this round), including a $29 million Series B round led by IvyCap Ventures. According to the filing, AMDG-PAX Foundation will hold 27.87% (post-allotment) of the firm. While Miko’s Indian entity has yet to file its FY25 annual report, its revenue from operations grew 58% to Rs 358 crore in FY24, compared to Rs 225 crore in FY23. Its losses stood at Rs 120 crore in FY24. Miko competes with PlayShifu, Avishkaar, and WitBlox, among others.

Exclusive: Wealthtech firm Neo to raise $19 Mn at 2.7X valuation surge

EntrackrEntrackr · 7m ago
Exclusive: Wealthtech firm Neo to raise $19 Mn at 2.7X valuation surge
Medial

Exclusive: Wealthtech firm Neo to raise $19 Mn at 2.7X valuation surge Consumer facing wealth and asset management firm Neo is in final stages to raise Rs 162 crore (approximately $19 million) through equity shares, led by VT Capital and with participation from 17 other investors. The board of Neo has passed a special resolution to issue 1,887 equity shares at Rs 8,60,410 each, to raise Rs 162.3 crore ($19 million), according to its regulatory filing sourced from the Registrar of Companies (RoC). VT Capital will lead the round with Rs 50 crore, while individual investor Ramesh Kunhikannan will contribute Rs 20 crore. Sattva Family Office, Biological E Ltd, Usha Reddy Chigarapalli, and Akshat Greentech Private Limited will invest Rs 10 crore each in the round. VT Capital is a Mumbai-based proprietary trading platform that has also invested in startups such as hygiene products maker Noble, beauty and personal care platform Purplle, and AI firm Fractal Analytics. According to Entrackr’s estimates, the company would be valued at around $686 million post-money. This seems to be over a 2.7X jump in the valuation, compared to its last round when it was valued at $250 million. Before this, Neo raised $120 million, including a $48 million round in August 2024 and $35 million Series B funding in October 2023. Mumbai-based Neo helps wealthy individuals and family offices invest their money. It focuses on credit and real estate, and also runs funds that give companies capital while aiming for safe returns for investors. It claims to manage nearly Rs 35,000 crore in wealth management assets and over Rs 6,000 crore in alternative asset management. According to the filings, before the round, Peak XV was the largest external stakeholder with 19.29%, followed by Crystal Investment Advisors LLP (Artha Group) at 6.74%. Among co-founders, Nitin Jain held 30.09%, Varun Bajpai 15.04%, and Hemant Daga 4.51%. Earlier this year, Neo Assets marked its first close of its second private credit fund at Rs 2,000 crore. The fund is registered with SEBI and provides credit solutions to unlisted companies and acquires their secondary stakes. The company is yet to file its annual results for FY25. During the fiscal year ended March 2024, it reported a 2.4X year-on-year increase in its revenue to Rs 149 crore, while the losses grew to Rs 13.7 crore in the same period.

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation

EntrackrEntrackr · 3m ago
Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation
Medial

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation Wint Wealth is raising Rs 120 crore (approximately $13.3 million) in its Series B funding round led by Vertex Ventures. This marks the Bengaluru-based startup’s first major fundraise in over three and a half years. Wint Wealth’s board has passed a special resolution to issue 94,047 Series B compulsory convertible preference shares at an issue price of Rs 12,804 each to raise Rs 120 crore or $13.3 million, according to the filings sourced from the Registrar of Companies. Vertex Ventures will lead the round with an investment of Rs 77.52 crore, while Unitary Fund, Eight Roads Ventures, and 3one4 Capital will infuse Rs 18.7 crore, Rs 13 crore, and Rs 8.16 crore, respectively. Zerodha’s incubation arm, Rainmatter, will also participate in the Series B with a Rs 3 crore investment. As per filings, the company plans to utilise the proceeds towards capital expenditure, marketing, and general corporate purposes. Based on Entrackr’s estimates, the wealth management startup is raising fresh capital at a post-money valuation of around Rs 707 crore (nearly $80 million). The company may raise additional capital as part of the Series B round, which could lead to changes in its valuation and shareholding structure. Post this round, Vertex Ventures will hold a 10.96% stake in Wint Wealth, while 3one4 Capital, Unitary Fund, Rainmatter, and ERVI Technology, an arm of Eight Roads Ventures, will own 8.54%, 8.32%, 2.55%, and 1.84%, respectively, according to the filings. Wint Wealth is yet to file its FY25 numbers. In FY24, the company posted Rs 17.2 crore operating revenue with a loss of Rs 18 crore.

Exclusive: Palmonas set to raise Rs 200 Cr at 4X valuation premium

EntrackrEntrackr · 1m ago
Exclusive: Palmonas set to raise Rs 200 Cr at 4X valuation premium
Medial

Exclusive: Palmonas set to raise Rs 200 Cr at 4X valuation premium Palmonas is set to raise Rs 200 crore (approximately $22 million) in its Series B round led by XPONENTIA Capital, with participation from existing investor Vertex Ventures, according to the company’s internal documents reviewed by Entrackr. Palmonas last raised Rs 55 crore from Vertex Ventures in May last year. Entrackr exclusively reported the fundraise at the time. The company’s filings with the Registrar of Companies (RoC) indicate the fundraise, as its board is set to issue 815 Series B CCPS at an issue price of Rs 13,59,434 each to raise Rs 110 crore. The remaining Rs 90 crore is expected to be raised through a separate filing shortly. XPONENTIA Capital will lead the round with Rs 179 crore, or nearly $20 million, while existing backer Vertex Ventures will invest Rs 21 crore. According to the documents, Palmonas’ valuation is expected to jump 3.8X to Rs 1,950 crore (around $217 million) post-money, compared to over Rs 500 crore in its previous round. New investor XPONENTIA Capital will hold a 10.68% stake after the allotment of the new round. Existing investor Vertex Ventures will command a 14.25% stake whereas the company’s co-founders Pallavi Mohadikar, Amol Patwari, and Shraddha Kapoor will collectively retain around 65% ownership. Queries sent to Palmonas did not elicit a response till the time of publication. We will update the story as and when the company responds. Founded in 2022 by Amol Patwari and Pallavi Mohadikar, Palmonas specialises in demi-fine jewellery such as necklaces, rings, bracelets, earrings, and mangalsutras made from stainless steel with 18k gold vermeil coating. In February last year, Palmonas raised Rs 1.26 crore on Shark Tank India Season 4 from investors Namita Thapar and Ritesh Agarwal, valuing the company at Rs 126 crore post-money. Prior to this, the brand had secured Rs 6 crore in an angel round. In March 2024, it also brought on board Bollywood actress Shraddha Kapoor as a co-founder. For the fiscal year ended March 2025, Palmonas reported a significant jump in its operating revenue, which surged over 40X to Rs 39 crore from Rs 97 lakh in FY24. During the same period, the company also turned profitable, posting a profit of Rs 4.3 crore. Palmonas competes with larger players in the segment, including GIVA, which is raising $12 million in a new round; BlueStone, which went public last year; and Firefly Diamonds, which raised $3 million in a seed round led by WestBridge Capital in March last year. Other competitors include COLUXE, Fiona Diamonds, Limelight Lab Grown Diamonds, and Jewelbox.

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

EntrackrEntrackr · 11m 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.

Exclusive: Neo raises $25 Mn led by Crystal Investment

EntrackrEntrackr · 4m ago
Exclusive: Neo raises $25 Mn led by Crystal Investment
Medial

Exclusive: Neo raises $25 Mn led by Crystal Investment Consumer-facing wealth and asset management firm Neo has raised Rs 221 crore (about $25 million) in a follow-on round led by Crystal Investment Advisors. This is the second fundraise for the Mumbai-based company in the past four months. According to a regulatory filing sourced from the Registrar of Companies (RoC), Neo’s board approved a board resolution to allot 2,571 equity shares at Rs 8,60,410 each, to raise the above-mentioned amount. Crystal Investment Advisors led the tranche with Rs 193 crore, while Morde Foods Private Limited contributed Rs 28 crore. The firm plans to deploy the capital towards growth initiatives and operational requirements. As per Entrackr’s estimates, the latest infusion values Neo at around $700 million post-money. The new raise lands barely three months after Neo mopped up Rs 162 crore ($19 million) through equity shares in a round led by VT Capital, with participation from 17 other investors. The development was earlier exclusively reported by Entrackr. During that $19 million round, Neo clarified to Entrackr that it had also raised $20 million in February (Q1 CY2025) from MUFG, Peak XV Partners, Euclidean Capital, and a large Indian family office at a pre-money valuation of Rs 5,500 crore (around $640 million). The current tranche has also been closed at the same valuation. Neo offers advisory and yield-based investment products to high-net-worth and ultra-high-net-worth individuals, including family offices. Earlier this year, Neo Assets marked the first close of its second private credit fund at Rs 2,000 crore. Registered with SEBI, the fund provides credit solutions to unlisted companies and acquires secondary positions. The company is yet to file its financials for FY25. For the fiscal year ended March 2024, Neo recorded a 2.7X year-on-year jump in revenue to Rs 177 crore, even as its losses widened to Rs 13.7 crore during the period.

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