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Exclusive: Brick&Bolt valuation soars 3X in new round

EntrackrEntrackr · 4m ago
Exclusive: Brick&Bolt valuation soars 3X in new round
Medial

Tech-enabled construction company Brick&Bolt is raising Rs 16.6 crore (approximately $1.95 million) in its pre-Series B round from Foundamental. Foundamental is a US-based investment firm that has previously invested in Indian companies, including Infra.Market in its Series A round in 2020. The board at Brick&Bolt has passed a special resolution to issue 369 pre-Series B compulsory convertible preference shares at an issue price of Rs 4,50,087 to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. As per filings, the proceeds will be utilized for immediate working capital and long-term funding requirements for the business. Brick&Bolt provides construction solutions such as complete construction, carpentry, woodwork, kitchen renovations for land and home owners. It operates in Bengaluru, Mysuru, Hyderabad, Chennai, Delhi-NCR and Pune. According to startup data intelligence platform TheKredible, the Bengaluru-based firm has raised approximately $16.5 million to date, led by Surge Ventures, Accel, and Celesta Capital. This includes a $10 million Series A round secured in January 2023 from Accel and Celesta Capital. According to Entrackr’s estimates, the firm will be valued at approximately Rs 891 crore ($105 million) post-allotment, marking a nearly 2.9X increase from around Rs 310 crore ($36.5 million) in its Series A round. Participating investor Foundamental will hold an 8.28% stake. It’s likely to raise additional funds in this round, which may further impact its valuation. The company reported an 81% surge in operating revenue, standing at Rs 42.25 crore for the fiscal year ending March 2024. Notably, it managed to curb losses, which declined by 10% to Rs 31 crore in the last fiscal year (FY24).

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Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge

EntrackrEntrackr · 1m ago
Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge
Medial

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge Feminine hygiene brand Plush to raise its Series B funding round, led by angel investor Ajay Kumar Aggarwal, with participation from Careernet Technologies, OTP Ventures, Blume Ventures, and 11 other investors. The board at Plush has passed a special resolution to issue 4,099 Series B preference shares to raise Rs 30.56 crore or $3.6 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows. Ajay Kumar Aggarwal will lead the round with an investment of Rs 6 crore, while existing investors Careernet Technologies, OTP Ventures, and Blume Ventures will contribute Rs 5 crore, Rs 3 crore, and Rs 4 crore respectively. The remaining amount will be collectively invested by Rahul Garg, Sumit Jalan, Blue Ashva Varenya Fund, Rahul Kayan, and seven other investors. According to Entrackr’s estimates, the company’s valuation is expected to reach around Rs 281 crore (approximately $33 million) post-allotment. This marks nearly a 3X spike in its valuation, compared to its previous pre-Series B round. Following the fresh proceeds, Angel Investor Ajay Kumar Aggarwal will hold 19.64% stake in the company followed by Careerner Technologies and Blume Ventures which holds 16.37% and 13.08% respectively. Founded in 2019, the Chennai-based startup focuses on feminine care products, offering a range that includes period care, hair removal, intimate wellness, and skincare solutions. According to the company, its products are currently available in 500 stores across Bengaluru, Chennai, Mumbai, Delhi, and Hyderabad, with plans to expand retail presence to 2,000 stores over the next six months. Plush reported an 84% year-on-year revenue growth to Rs 28.87 crore in the fiscal year ending March 2024. During the same period, the company posted a loss of Rs 4.4 crore. The startup is projected to close FY25 with Rs 60 crore revenue.

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

EntrackrEntrackr · 5m 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. “Lightspeed Venture Partners and B Capital are leading the new round in Data Sutram as the deal is expected to close soon,” said one of the sources. “Existing investors will also participate.” Founded in 2018 by Rajit Bhattacharya, Aisik Paul, and Ankit Das, Data Sutram’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 suite—Find, Authenticate, and Grow—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: Euler Motors’ valuation remains flat in Series D round

EntrackrEntrackr · 2m ago
Exclusive: Euler Motors’ valuation remains flat in Series D round
Medial

Exclusive All Stories Exclusive: Euler Motors’ valuation remains flat in Series D round Commercial electric vehicle manufacturer ​​Euler Motors is raising Rs 638 crore (around $75 million) in its Series D round led by Hero MotoCorp. The company has already announced a $60 million investment from Hero MotoCorp, and the round is expected to see further participation from other existing investors. While the investment will provide a much-needed breather for Euler, which has been seeking funds for some time, the Delhi-based company will have to settle for a flat valuation in this round. To delve deeper into Euler’s latest funding round, Entrackr has reviewed the company’s regulatory filings to uncover details such as the round's breakdown, shareholding structure, and current valuation. The board at Euler Motors has passed a special resolution to approve the issue of 8,33,047 Series D Cumulative Compulsorily Convertible Preference Shares and 10 equity shares at an issue price of Rs 7,659 to raise Rs 638 crore or $75 million. Hero MotoCorp led the round with an investment of Rs 510 crore ($60 million) whereas British International Investment and Caladium Investment (GIC) will contribute Rs 96 crore ($11.3 million), Rs 32 crore ($3.76 million), respectively. As per Entrackr’s estimates, the Saurav Kumar-led company is expected to be valued at approximately Rs 1,496 crore ($176 million) post-allotment, reflecting a flat valuation compared to the previous round. According to startup data intelligence platform TheKredible, Euler Motors has raised around $128 million prior to this round including debt and equity. Following the allotment of Series D round, Hero MotoCorp will be the largest external shareholder in the company with 34.10%. Caladium Investment (GIC) and British International Investment will hold 18.00% and 10.40% stakes respectively. Launched in 2018, Euler Motors is a commercial electric vehicle startup specializing in the production of three-wheelers. The company has deployed its EV fleets for major clients such as BigBasket, Ecom Express, Amazon, and Udaan. On a year-on-year basis, Euler recorded over a 3X jump in its operating revenue, reaching Rs 189 crore in FY24 from Rs 62 crore in FY23. However, it also incurred a loss of Rs 227 crore during the same fiscal. The firm has yet to disclose last fiscal year numbers (FY25). It competes with Altigreen, along with established players such as Mahindra Electric, Piaggio, Kinetic Green, Tata, and others. The three-wheeler market is perhaps the one market that has evolved at its own pace. It has been the same story in the electric version, with nothing like the horde that entered the two-wheeler space hoping to strike it big. Margins are way healthier for the established players, and Euler has done enough to show it can punch its weight or even above as well. That explains the continued interest from Hero MotoCorp, albeit at the flat valuation to reflect the rising challenges or Euler’s present situation. With EV mandates only spreading faster to more and more states and some of the biggest buyers known to be open to a better deal, Euler certainly has a better than even chance of gaining further traction and enjoying a good ride. The key will be the ability to produce newer products for a market with a variety of needs by size and features.

Exclusive: AstroTalk seeks unicorn valuation in new round

EntrackrEntrackr · 5d ago
Exclusive: AstroTalk seeks unicorn valuation in new round
Medial

Exclusive: AstroTalk seeks unicorn valuation in new round Noida-based AstroTalk closed a $14 million funding round in June last year. As of now, it has raised $34 million from Left Lane and Elev8 Capital. Astrology-focused platform AstroTalk is in mid stage talks to raise a new funding round in the range of $50-100 million, according to three sources aware of the development. The fresh funding talks have been initiated after a gap of 12 months for the Noida-based company. “The discussions are ongoing with multiple investors, including a few existing backers,” said one of the sources on condition of anonymity. “The new round is likely to be the final one before the company files its DRHP for a public listing by the first half of the next year.” As per sources, the firm will begin the IPO process in a few months. AstroTalk closed a $14 million funding round in June last year. As of now, it has raised $34 million from Left Lane and Elev8 Capital. “Astrotalk is seeking a valuation of $1.3 to $1.5 billion in the new round, which is expected to close in the next couple of months,” said another source, who requested anonymity as the discussions are private. This will be a substantial increase from its earlier $300 million valuation. If the firm achieves this valuation, Astrotalk will join the ranks of Jumbotail, Drools, Porter, Netradyne, and Juspay, all of which became unicorns in the ongoing calendar year (2025). For the uninitiated, AstroTalk is an online platform that enables users to consult with astrologers through the internet, phone calls, and chat. It claims to host a network of 45,634 professionals, including astrologers, tarot readers, numerologists, and Vastu experts. The platform offers services for personalized predictions and guidance on areas such as marriage, relationships, career, health, and more. The Puneet Gupta-led company has recorded strong growth over the past two fiscal years. As per an internal document reviewed by Entrackr, Astrotalk ended FY25 with Rs 1,182 crore in revenue and a profit of over Rs 250 crore. This follows a sharp rise in FY24, when it reported Rs 651 crore in revenue and Rs 100 crore in profit. AstroTalk declined to comment on the story. AstroTalk recently diversified its offerings with the launch of a D2C vertical focused on spiritual and wellness products. This includes services like puja bookings, gemstones, and astrological remedies. According to co-founder Anmol Jain, the D2C business is expected to contribute 25-30% of overall revenue while maintaining profitability. AstroTalk’s planned IPO comes at a time when profitable, consumer-tech startups are seeing renewed interest from investors. If successful, it would be the first venture-funded player in the online astrology segment to go public. The company faces competition from platforms like Astrosage, Astroyogi, GaneshaSpeaks, and InstraAstro.

Exclusive: Rupeek raises fresh funds at 60% valuation cut

EntrackrEntrackr · 1y ago
Exclusive: Rupeek raises fresh funds at 60% valuation cut
Medial

Online gold loan platform Rupeek has raised Rs 50 crore from 360 One Large Value Fund (formerly IIFL Wealth Management). Significantly, the company’s valuation nosedived by 60% in the new round. The board at Rupeek has passed a board resolution to issue 1,307 compulsory convertible preference shares at an issue price of Rs 3,82,492 each to raise Rs 50 crore, its regulatory filing shows. The company will use these funds for growth, expansion, and general corporate activities, as the company’s board decides. During FY24, the company also raised around Rs 43 crore from existing investors such as Peak XV, Bertelsmann, Accel India, and GGV Investments, the filing further shows. According to Fintrackr‘s estimates, the company has been valued at around Rs 2,050 crore or $250 million post-allotment. This implies that the company raised new money at a 60% haircut in its valuation as compared to Rupeek’s peak valuation of $634 million in January 2022. Recently, an ET report said that Rupeek was in talks to raise funds from Ranjan Pai’ investment office Claypond Capital and Axis Bank at a valuation of $200-250 million. Rupeek provides gold loan services and claims to streamline the entire processing from underwriting to disbursal in 30 minutes. The Binny Bansal-backed company has raised around $150 million to date. As per startup data intelligence platform TheKredible, PeakXV is the largest external stakeholder followed by Accel and Bertelsmann. Its new investor 360 One Large Value Fund holds 2.44% (post-allotment). The Bengaluru-based company is yet to report FY24 numbers but its revenue from operations declined 27.6% to Rs 89 crore in FY23 while the losses stood at Rs 281 crore in the fiscal year ending March 2023. The Sumit Maniyar-led firm directly competes with Oro Money, Ruptok, Yellow Metal, and to some extent with PayU-backed Indiagold. There should be no issues on the valuation haircut for Rupeek, considering that its peak valuation was not just at the peak of the funding cycle, but subsequent performance has also failed to justify those numbers. There are far too many founders who get hung up on a specific valuation number, before it is too late to raise fresh funding. Rupeek has clearly focused on the next steps, rather than dwell on the past too much. That it found backers at the new valuation figure also speaks about the credibility the founders retain, despite the tough times in the recent past.

Exclusive: Eduvanz secures bridge round at 35% lower valuation

EntrackrEntrackr · 5m ago
Exclusive: Eduvanz secures bridge round at 35% lower valuation
Medial

Exclusive: Eduvanz secures bridge round at 35% lower valuation Education loan provider Eduvanz has secured Rs 25.52 crore in a bridge funding round co-led by Juvo Ventures and Capria Fund, with additional participation from Peak XV and Unitus Ventures. Eduvanz's board has approved a special resolution to issue 26,405 preference shares at an issue price of Rs 9,667 each, raising Rs 25.52 crore, according to a regulatory filing accessed from the RoC. Capria Fund and Juvo Ventures contributed Rs 8.65 crore and Rs 8.57 crore, respectively, while Peak XV and Unitus Ventures invested Rs 4.28 crore and Rs 4 crore. According to the filings, the newly raised funds will be utilized for working capital, product development, and marketing initiatives. Entrackr estimates Eduvanz's post-allotment valuation at approximately Rs 551 crore, reflecting a 35% decline from its last extended Series B round, where the company was valued at Rs 850 crore. Eduvanz provides loans to students to finance their school, coaching, and test prep fees. Salaried and self-employed individuals can also seek loans from it to fund their up-skilling expenses. After the bridge round, Peak XV Partners will hold a 31.72% stake in the company, while Juvo Ventures and Capria Fund will own 4.89% and 3.14%, respectively. The new funding is coming after a gap of more than two years for Eduvanz. In December 2022, it scooped up $12.6 million in its extended Series B round from new and existing backers. Entrackr exclusively reported the development. Eduvanz competes with well-funded firms such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Auxilo.

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