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

EntrackrEntrackr · 10m 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: Info Edge to back ShipGlobal again at 3X higher valuation

EntrackrEntrackr · 5m ago
Exclusive: Info Edge to back ShipGlobal again at 3X higher valuation
Medial

Exclusive: Info Edge to back ShipGlobal again at 3X higher valuation Cross-border logistics startup ShipGlobal is set to raise a pre-Series A round from existing investor InfoEdge Ventures. The funding comes nearly two years after its seed round. The board at ShipGlobal has passed a special resolution to issue 2,143 pre-Series A preference shares at an issue price of Rs 70,000 each to raise Rs 15 crore, according to its regulatory filing with the Registrar of Companies (RoC). ShipGlobal will deploy the funds towards capital expenditure, marketing, and general corporate purposes, as per the filing. According to Entrackr’s estimates, the company’s post-money valuation would be around Rs 315 crore ($36 million), representing a 3X increase from its seed round of $3.5 million. Following the fresh infusion, Info Edge Ventures will hold 23.81% of the company, while its co-founders Aayush Anand, Angad Arora, and Vaibhav Kapur will each command 21.89%, the filings show. The round may see participation from new investors and the valuation and shareholding will vary accordingly. Founded in 2022, ShipGlobal provides cost-effective logistics solutions to Indian SMEs, simplifying cross-border shipping with services such as customs clearance, tracking, and real-time pricing. According to the website of the company, Shipglobal has over 25,000 exporters and has shipped more than 1 crore orders across 220 countries. The New Delhi-based company is yet to file its annual statements for FY25. During the fiscal year ended March 2024, it recorded a 5X year-on-year increase in its revenue to Rs 40.6 crore, while the losses stood at only 1.37 crore in the same period.

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

EntrackrEntrackr · 8m 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 · 1y 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.

TraqCheck raises bridge round at $17 Mn valuation

EntrackrEntrackr · 4m ago
TraqCheck raises bridge round at $17 Mn valuation
Medial

Snippets TraqCheck raises bridge round at $17 Mn valuation TraqCheck, an AI enterprise startup focused on HR systems, has raised a bridge round at a $17 million valuation, for an undisclosed amount. The round was led by angel investors Alok Oberoi (Chairman, Everstone Capital) and Siddharth Mehta (Founder, Bay Capital), with participation from Sivaramakrishnan S. Iyer (Advisor, Bay Capital). The proceeds will be used to scale its background verification product in India and Europe, launch new AI-based HR tools, and strengthen teams in product, engineering, and growth. Founded by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, TraqCheck builds AI agents for enterprises, starting with background verification. Its product uses deterministic LLM frameworks to automate screening processes and reduce turnaround times, helping HR teams improve compliance and efficiency. It has scaled across India and recently expanded into Europe. TraqCheck raised its last round in 2023 at a $14 million valuation. Since then, it has grown rapidly, serving over 200 enterprise clients across BFSI, staffing, healthcare, and the gig economy. The firm is targeting a 3x revenue increase in 2025 as demand for automated HR solutions rises. TraqCheck competes with global background verification and HR tech players like HireRight, First Advantage, and Checkr.

IndiaGold turns profitable, secures NBFC licence as gold-loan demand soars

EntrackrEntrackr · 4d ago
IndiaGold turns profitable, secures NBFC licence as gold-loan demand soars
Medial

IndiaGold, the gold-loan fintech operated by Flat White Capital, has turned profitable at the profit-after-tax (PAT) level in the current financial year and has also secured a non-banking financial company (NBFC) licence, according to two sources aware of the company’s details. The development comes amid strong momentum in gold-backed credit across the country, as both borrowers and lenders increasingly favour secured lending. Industry data from CRIF High Mark shows that retail loans grew 18% year-on-year in Q2 FY26, with gold loans expanding 35.8% YoY. During the quarter, gold-loan originations surged 53% year-on-year to Rs 6.05 lakh crore. The data also points to a clear shift towards higher-ticket gold loans. Loans above Rs 5 lakh now account for over 30% of total gold-loan originations by value, while the Rs 2.5–5 lakh segment has steadily gained share over the past two years. In contrast, the contribution of loans below Rs 1 lakh has declined, a sign of wider usage beyond small, emergency-driven borrowing. While smaller-ticket loans continue to dominate volumes, gold loans are increasingly being used for business-linked needs, particularly by self-employed individuals and micro-entrepreneurs. The category also remains a key entry product for first-time borrowers, with new-to-credit customers accounting for around 15% of origination value in Q2 FY26. Geographically, gold-loan adoption is becoming more evenly distributed. Nearly two-thirds of originations now come from cities beyond the top nine metros, underscoring the category’s expanding pan-India footprint. According to sources, NBFC licence and its first profitable year would support the next phase of growth for its regulated lending business. While the company declined to comment on the story, a company’s spokesperson said that the focus will remain on strengthening risk management, operations, and customer experience as the Gurugram-based firm scales its gold-backed credit offerings. On the funding front, IndiaGold has raised $24 million to date, with its latest funding round coming in November 2022. It competes with digital-first players such as Rupeek, as well as traditional brick-and-mortar lenders including Muthoot Finance and Manappuram Finance.

Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25

EntrackrEntrackr · 6m ago
Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25
Medial

Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25 Quick commerce unicorn Zepto clocked Rs 11,110 crore (nearly $1.3 billion) in turnover in FY25, a sharp 150% jump from Rs 4,454 crore in FY24, according to regulatory filings reviewed by Entrackr. Zepto’s FY25 performance comes on the back of aggressive execution and disciplined expansion. According to earlier Aadit Palicha’s post, the company was at $3 billion in annualized gross order value (GOV) and halved its losses over the last year. In FY24, Zepto incurred losses of Rs 1,248 crore on revenue of Rs 4,454 crore. That means the startup spent Rs 1.29 to earn every Rs 1 of revenue in FY24, a figure it has reportedly improved in FY25 with better unit economics, higher fill rates, and stronger contribution margins. We are not comparing Zepto's FY25 numbers with Instamart and Blinkit due to differences in their business models and accounting practices. However, the NOV (net order value) of Blinkit stood at Rs 22,731 crore in FY25, while Swiggy’s quick commerce biz Instamart GOV was recorded at Rs 14,600 crore in the same period. Zepto's founder Aadit Palicha did not comment on the story. As per a recent report, Zepto is in talks to raise $500 million at a potential $7 billion valuation, a significant jump from its previous valuation of $5 billion when it raised $350 million in November 2024. The fresh round is expected to bolster Zepto’s runway ahead of a potential IPO in 2026, as the company pushes toward EBITDA break-even in the next 12–15 months.

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