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Exclusive: BiofuelCircle raises Rs 45 Cr led by Spectrum Impact

EntrackrEntrackr · 1y ago
Exclusive: BiofuelCircle raises Rs 45 Cr led by Spectrum Impact
Medial

Biomass and biofuel marketplace BiofuelCircle raised Rs 45 crore ($5.3 million) in funding led by Spectrum Impact with the participation of a few angels as well as the promoters of the company. The board at BiofuelCircle has passed a resolution to issue 3,27,551 compulsory convertible preference shares to raise Rs 45 crore (approximately $5.3 million), its regulatory filing accessed from RoC shows. The company has received Rs 24.3 crore till now while the rest of the sum is yet to be rolled out by the investors. Before this round, it has raised $2 million from Spectrum Capital, Better Capital and others. As per the Kredible’s estimates, the company has been valued at around Rs 282 crore or $34 million pos-allotment. Launched in 2020, BiofuelCircle focuses on building an organized and reliable supply chain for biomass and biofuels. The platform identifies farmers who need to sell their agricultural residue and then it connects them with the storage facilities nearby. The platform further connects these storage companies with factories or refineries where the biomass would be sold. Additionally, these refineries are connected to industrial consumers who purchase the biomass. It also offers buyers to subscribe to the BiofuelCircle marketplace through either prepaid or postpaid subscription plans which also provides access to value-added services. BiofuelCircle directly competes with Buyofuel, which is backed by Inflection Point Venture and Venture Catalysts. The Pune-based company recorded a 5x growth in its operating revenue to Rs 11 crore during the fiscal year ended 2023. However, its losses surged by 80% to Rs 6.8 crore during the same period. The company is yet to file its annual statement for FY24. Lead investor Spectrum has invested in several growth stage startups such as Atomberg, Falcon Labs, Dozee, Miko, Log9, Turno, Blue Sky Analytics, Kreedo and others.

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Exclusive: BiofuelCircle to raise Rs 70 crore at 86% valuation surge

EntrackrEntrackr · 4m ago
Exclusive: BiofuelCircle to raise Rs 70 crore at 86% valuation surge
Medial

Biomass and biofuel marketplace BiofuelCircle is set to raise Rs 70 crore ($8.2 million) in a new funding round from existing investor Spectrum Impact, along with a group of angel investors and company promoters. This funding follows the $5.4 million Series A round raised in August last year, led by Spectrum Impact. The board at BiofuelCircle passed a resolution to issue 2,90,798 non-cumulative compulsory convertible preference shares at an issue price of Rs 2,407 each to raise the above-mentioned amount, as per its filing with the Registrar of Companies (RoC). The company has already received Rs 7.25 crore, with the remaining amount expected to be infused shortly. According to Entrackr estimates, the Pune-based company is expected to be valued at around Rs 525 crore (approximately $62 million), representing an 86% increase from its previous valuation of Rs 282 crore ($34 million). Founded in 2020, BiofuelCircle is a digital marketplace for biomass and biofuels that connects farmers, suppliers, and industries. Working on a subscription and transaction model, it enables price discovery, logistics, and trade finance while helping farmers monetize agri-residue. The company has raised around $9 million to date from investors, including Spectrum Impact and Mumbai Angels. BiofuelCircle nearly tripled its operating revenue to Rs 29 crore in FY24, while reducing losses by 28% to Rs 4.9 crore during the same period. BiofuelCircle competes directly with Buyofuel, which is backed by Inflection Point Ventures and LetsVenture.

Exclusive: D2C brand Ecosoul secures Rs 45 Cr debt from Bajaj

EntrackrEntrackr · 4m ago
Exclusive: D2C brand Ecosoul secures Rs 45 Cr debt from Bajaj
Medial

Exclusive: D2C brand Ecosoul secures Rs 45 Cr debt from Bajaj Ecosoul, a D2C eco-friendly home essentials startup, has raised Rs 45 crore (approximately $5.2 million) in fresh debt funding from Bajaj Financial Securities. The company last raised a major funding round in October 2022, securing $10 million led by Accel and Singh Capital Partners. The Ecosoul’s board has issued 7,500 compulsory convertible debentures at a face value of Rs 60,000 each to secure Rs 45 crore from Bajaj Financial, according to its regulatory filing accessed from Registrar of Companies (RoC). The proceeds will be used to meet working capital needs and other general corporate purposes, according to the filing. Founded in 2020 by Rahul Singh and Arvind Ganesan, EcoSoul offers eco-friendly home essentials made from sustainable materials such as palm leaves, bamboo, sugarcane bagasse, and PLA. Its product range includes items like bamboo chopping boards, biodegradable cups, and palm leaf plates. The company boasts a portfolio of over 1,800 products, available across 50+ retail stores in more than seven countries, including India, the USA, Vietnam, and China. EcoSoul reported over 40% year-on-year revenue growth, reaching Rs 26.8 crore in FY24, as per its India filings. The company, however, posted a loss of Rs 4.6 crore during the same period. Noida and US-based Ecosoul competes with other sustainable home essentials startups such as CHUK, Delhi-based Ecoware, and Mumbai-based Dinearth, among others.

Space tech startup Ulook raises Rs 19 Cr led by growX and InfoEdge Ventures

EntrackrEntrackr · 2m ago
Space tech startup Ulook raises Rs 19 Cr led by growX and InfoEdge Ventures
Medial

Space-tech startup Ulook has raised Rs 19 crore (approximately $2.3 million) in a funding round co-led by GrowX Ventures and InfoEdge Ventures. Ulook develops autonomous satellite swarms designed for radio-frequency (RF) sensing and spectrum awareness. The technology enables detection, tracking, and analysis of activity on the Earth’s surface and in contested environments where traditional optical or radar methods may not function effectively. The proceeds will be used to further its satellite and sensor development, expand its RF-sensing platform capabilities, and accelerate go-to-market efforts for data intelligence services. Ulook competes with other space-tech and earth-observation firms such as Pixxel, Satsure, Astrome, and Skyroot Aerospace, particularly in areas of sensor innovation, satellite deployment, and data-as-a-service models. The company plans to deploy its first satellite swarms within the next 12-18 months and target clients in defense, security, infrastructure monitoring, telecommunications, and national spectrum-management segments.

Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation

EntrackrEntrackr · 11m ago
Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation
Medial

Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation Wealth management platform Waterfield Advisors is raising Rs 123 crore (approximately $14.6 million) in a new funding round, led by Jungle Ventures. The company’s board has approved a special resolution to issue 10,92,362 preference shares at an issue price of Rs 1,126 each, raising Rs 123 crore ($14.6 million), according to its regulatory filing accessed from the Registrar of Companies. Jungle Ventures is leading the funding round with an investment of Rs 100 crore. The remaining amount is being contributed by co-founder and CEO Soumya Rajan, along with individual investors, including Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh. The company plans to utilize the proceeds for growth, expansion, marketing, and general corporate purposes, as determined by the board. According to Entrackr estimates, Waterfield Advisors will be valued at approximately Rs 723 crore ($86 million) post-allotment. The company is reportedly raising Rs 130 crore in this round. Founded in 2011 by Soumya Rajan, Waterfield Advisors is a fee-based multi-family office and wealth advisory firm, that ensures unbiased financial, investment, and succession planning services. Waterfield advisors had raised over $25 million in funding to date including $6 million from family offices, and ultra-high net worth individuals. According to the startup data intelligence platform TheKredible, Jungle Ventures will be the largest external stakeholder with 13.83%. Its co-founders Soumya Jain along with Sanjay Teli will cumulatively hold 40.07% of the company. Waterfield Advisors has recorded a 33.2% year-on-year increase in its revenue to Rs 45.7 crore in the fiscal year ended March 2024. Moreover, it managed to decrease losses by 9.5% to Rs 28.6 crore in FY24.

Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC

EntrackrEntrackr · 7m ago
Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC
Medial

Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC Sneaker brand Gully Labs has raised Rs 8.7 crore in a seed funding round — comprising Rs 7.6 crore in equity and Rs 1.1 crore in venture debt. The equity round was led by Zeropearl VC along with participation from Untitled Ventures, Atrium Ventures, and other prominent angel investors including Bounce co-founder & CEO Vivekananda Hallekere, Suhasini Sampath, Nishchay AG, Renee Cosmetics founder Ashutosh Valani, Anurag Ramadasan, and Rahul Seth, while Stride Ventures led the debt investment. Prior to this, the company had secured Rs 1.1 crore in equity during its pre-seed round in 2024. The fresh capital will be deployed towards diversifying the product mix, expanding sales channels, and opening physical retail stores, Gully Labs said in a press release. Co-founded in 2023 by Arjun Singh and Animesh Mishra, Gully Labs crafts handmade sneakers, blending premium materials with culturally rich design stories — from Phulkari-embroidered trainers to Onam-inspired silhouettes. Gully Labs sells its products through its website and in select partner stores across Indian metros. The company plans to build a larger production facility, broaden its product line across diverse sneaker styles, and deepen its reach across India and global markets. It also plans to launch exclusive retail outlets as part of its omni-channel strategy.

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation

EntrackrEntrackr · 2m ago
Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation
Medial

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation Modular furniture maker Spacewood Furnishers has raised Rs 300 crore ($36 million) from A91 Partners at a valuation of Rs 1,200 crore ($135 million). The investment gives A91 Partners a minority stake and will support expansion, brand building, and operations. Spacewood plans to scale from 35 exclusive stores to 100 stores across India over the next few years. Founded by Kirit Joshi and Vivek Deshpande, Spacewood manufactures modular furniture for homes and offices. The company works through an omnichannel model with exclusive stores, a dealer network, and online platforms. The company runs a manufacturing facility of about 1 million sq. ft. with panel processing and sheet metal capabilities. Its dealer network covers over 500 partners across 150 towns and cities. In 2011, Nitin Sudame set up the office furniture division under Spacewood Office Solutions (SOS). SOS has supplied office furniture to over 1,000 corporates and developers. Spacewood targets group revenue of Rs 700 crore for FY26. It aims to grow 25–30% annually over the next five years with a focus on profitability. Its clients include Accenture, Capgemini, HDFC, Adani Group, and several educational institutions. Sumai Doors works with over 200 real estate developers, including Godrej Properties, DLF, Lodha, M3M, and Kolte Patil. Spacewood operates in the modular furniture market competing with brands such as Godrej Interio, IKEA, Homelane, Pepperfry, Wurfel, and Urban Ladder.

Exclusive: Atomberg raises Rs 212 Cr in Series C extension led by Temasek

EntrackrEntrackr · 1m ago
Exclusive: Atomberg raises Rs 212 Cr in Series C extension led by Temasek
Medial

Exclusive: Atomberg raises Rs 212 Cr in Series C extension led by Temasek Consumer appliances brand Atomberg has secured Rs 212 crore ($24 million) in an extension of its Series C round led by Jongsong Investments (Temasek), with participation from its co-founders and existing backers. As per regulatory filings sourced from the Registrar of Companies (RoC), the board approved the issuance of 10,006 Series C1 and C2 preference shares at Rs 2,11,835 per share to raise the fresh capital. Temasek led the tranche with an infusion of Rs 132 crore, while Jungle Ventures and Inflexor Fund contributed Rs 17.8 crore and Rs 17.9 crore, respectively. Co-founders Manoj Kumar Meena and Sibabrata Das together invested Rs 44 crore during this round. This appears to be part of a larger ongoing funding round, and Atomberg is expected to raise additional capital for the secondary transactions. As per Entrackr’s estimates, the latest allotment values the company at around $500 million post-money. With this, Atomberg has raised over $150 million to date, including the $86 million Series C round led by Temasek and Steadview Capital in May 2023. Sibabrata Das, co-founder of Atomberg, declined to comment on the queries sent by Entrackr. Founded in 2012 by Meena and Das, Atomberg has built a strong R&D-led product portfolio featuring energy-efficient BLDC and smart fans, mixer grinders, and smart locks. The brand claims a retail footprint spanning more than 15,000 touchpoints across India. Atomberg initially entered the market in 2015, catering to B2B customers such as the Tata Group, Infosys, and Indian Railways before expanding into B2C via Flipkart and Amazon, and later scaling offline distribution from 2018 onward. The company is yet to file its FY25 financials. In FY24, its revenue from operations grew 31% year-on-year to Rs 848 crore, while losses narrowed by 31.7% during the same period.

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures

EntrackrEntrackr · 8m ago
Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures
Medial

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures Battery technology startup Volt14 has secured $1.87 million in its pre-Series A funding round led by Blume Ventures. Beyond Next Ventures, Spectrum Impact. Shashank Pathak 05 May 2025 11:12 IST Follow Us New Update Battery technology startup Volt14 has secured $1.87 million in its pre-Series A funding round led by Blume Ventures. Beyond Next Ventures, Spectrum Impact, Supermorpheus, and returning investor Cocoon Capital have also participated. The total funding raised by the Bengaluru-based startup now stands at $4.02 million. The proceeds will be used to scale up manufacturing and expand its team. Founded in 2019 by Animesh Kumar Jha, Volt14 focuses on developing silicon-based anode materials for lithium-ion batteries. It has also developed an in-house cylindrical battery cell format demonstrating energy density enabled by its silicon anode. Volt14 claims that its technology increases silicon content in anodes while maintaining performance levels and is currently being evaluated by multiple battery cell manufacturers. According to market research, the lithium-ion battery sector is projected to exceed $300 billion by 2034, driven by electric vehicle adoption and energy storage expansion. Blume Ventures, the lead investor in this round, is also one of the early backers of Battery Smart, which is the most funded startup in the space.

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

EntrackrEntrackr · 1m 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.

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