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

News on Medial

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.

1

Related News

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

EntrackrEntrackr · 3m 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: Subko Coffee raises Rs 80 Cr led by NKSquared

EntrackrEntrackr · 1y ago
Exclusive: Subko Coffee raises Rs 80 Cr led by NKSquared
Medial

Subko Coffee has raised Rs 80 crore in a new round led by Zerodha co-founders-backed NKSquared, said two sources aware of the investment. Several individuals along with Blume Ventures and Progressive LLP also participated in the financing round. “NKSquared has put in around Rs 70 crore whereas the remaining Rs 10 crore came from other investors,” said one of the sources requesting anonymity as talks are yet to be public. The company has received $5.5 million (Rs 45 crore) and NKSquared has already invested Rs 34.2 crore, according to the Subko Coffee regulatory filings with the Registrar of Companies (RoC). Blume Ventures and Progressive Strategies LLP collectively invested Rs 4.75 lakh. Pallavi Dempo, Suprapadh S Manohar, John Abraham, Kalpathi Ratna, and Suparna Gupta also took part in the financing round. As per sources, NKSquared has also acquired a 25% stake in the Mumbai-based firm. Subko Coffee has been valued at around $35-40 million (post-money), said the person quoted above. Queries sent to Subko Coffee NKSquared and Subko Coffee didn’t elicit any immediate response. We will update the story in case they respond. NKSquared was incorporated by Kamath brothers in 2019 but it became active last year and backed a few companies, including Nazara Games. Subko Coffee provides caffeinated drinks along with baked bread-pastries and coffee roasters. According to its filings, several celebrities such as Gauri Khan, Tiger Shroff, and others invested in the company between June 2022 to December 2023. Subko Coffee has been growing at a rapid clip and this could be evident from its growth in the last fiscal year. Its revenue spiked 94% to Rs 13.57 crore in FY23 from Rs 7 crore in FY22 while the firm’s losses stood at Rs 9.86 crore in the same period. Subko Coffee competes with Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co. Notably, Third Wave Coffee is also backed by Zerodha’s co-founder Nikhil Kamath.

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

EntrackrEntrackr · 3m 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.

Exclusive: Wealthy raises fresh capital from Alpha Wave

EntrackrEntrackr · 1y ago
Exclusive: Wealthy raises fresh capital from Alpha Wave
Medial

Wealth management platform Wealthy has raised Rs 45 crore ($5.4 million) in a new round led by Falcon Edge’s Alpha Wave Incubation Fund. This is the first round of investment for the Bengaluru-based company this year. The board at Wealthy has passed a special resolution to issue 47,222 compulsory convertible preference shares at an issue price of Rs 9,556 each to raise Rs 45 crore or $5.4 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Alpha Wave led the round with Rs 20.7 crore while Savrola Lakshmi LLC put in Rs 16.38 crore. Good Capital and other individual investors cumulatively participated with Rs 7.92 crore. According to the filings, Wealthy will use these proceeds for expansion and general working capital purposes. As per startup data intelligence platform TheKredible’s estimates, the company has been valued at around Rs 278 crore or $33.5 million post-money. Wealthy has raised over $16 million to date including $7.5 million Series A funding led by Alpha Wave in early 2022. It looks like an ongoing round and the company may raise more capital. Founded in 2015, Wealthy offers investment management and tracking tools to retail investors. It also provides advisory and access to wealth management professionals. According to its website, the firm has facilitated over Rs 4,500 crore of investments through its marketplace. Following the fresh proceeds, existing backer Alpha Wave remains the largest external stakeholder with 24.16% followed by Good Capital which holds 9.69%. Its co-founders Aditya Agarwal and Prashant Gupta jointly command 36.64% of the company. Head to TheKredible for the complete shareholding pattern. Wealthy bled profusely in FY23 as its losses blew 8X to Rs 24 crore while its revenue grew 57.2% to Rs 11.82 crore during the same period. The company is yet to disclose its financial numbers for FY24. It competes with a clutch of wealthtech platforms including Stable Money, Deserv, Cube Wealth and many others.

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

EntrackrEntrackr · 9m 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.

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

EntrackrEntrackr · 5d 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.

Exclusive: Agnikul raises Rs 60 Cr in Series new round

EntrackrEntrackr · 29d ago
Exclusive: Agnikul raises Rs 60 Cr in Series new round
Medial

Space-tech startup Agnikul Cosmos has raised Rs 60 crore ($6.7 million) in a fresh funding round after a gap of two years. The company secured Rs 30 crore each from Advenza Global Ltd and Atharva Green Ecotech Pvt Ltd. According to regulatory filings sourced from the Registrar of Companies (RoC), the company has issued 225 Series C1 compulsory convertible preference shares (CCPS) at an issue price of Rs 13,33,393.74 per share to Advenza Global Ltd and Atharva Green Ecotech Pvt Ltd each. The object of raising the investment is mainly to meet the strategic growth plans and expansion of its business, as well as to address working capital requirements, according to the regulatory filing. Founded in 2017 by Srinath Ravichandran and Moin SPM, Agnikul is developing customizable small satellite launch vehicles. The startup gained attention for Agnibaan, its 3D-printed rocket engine, and operates from the National Center for Combustion R&D at IIT Madras. Prior to this, Agnikul raised Rs 200 crore (around $26.7 million) in its Series B round in 2022 led by Celesta Capital and Rocketship.vc, Artha Venture Fund, Artha Select Fund, and Mayfield India. While Agnikul is yet to file its FY25 numbers, the Chennai-based startup recorded Rs 9 crore revenue in FY24 with losses nearing Rs 43 crore in the same period. Its competitor, Skyroot Aerospace, posted a revenue of Rs 29 crore while its losses touched Rs 55 crore in FY24.

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

EntrackrEntrackr · 9d 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.

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