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Exclusive: CapGrid to raise fresh funds from Anicut, Nexus and Axilor

EntrackrEntrackr · 12m ago
Exclusive: CapGrid to raise fresh funds from Anicut, Nexus and Axilor
Medial

B2B cloud manufacturing startup CapGrid is raising Rs 29.16 crore (approximately $3.5 million) in an extension of its Series A round led by Anicut Capital with the participation of Nexus Ventures and Axilor Technology Fund. The board at CapGrid has passed a special resolution to issue 2,452 Series A2 CCPS at an issue price of Rs 1,18,940 each to raise Rs 29.16 crore or $3.5 million, its regulatory filing accessed from the Registrar of Companies shows. Anicut Capital pumped in Rs 22.4 crore while Nexus Ventures and Axilor Technology Fund participated with Rs 3.3 crore and Rs 3.4 crore respectively. CapGrid will use these funds for expansion/growth and to fulfill the additional capital requirements, the filing stated. Caprid has raised over $10 million to date including its $7 million Series A led by Nexus Ventures in 2023. According to Entrackr’s estimates, the company has been valued at around Rs 285.5 crore (approximately $34 million) post-allotment. Founded in July 2020 by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi, CapGrid is an AI-powered platform that serves a spectrum of industries across the automotive industry, agricultural equipment, earthmoving equipment, aerospace, oil and gas, consumer durables, and electric vehicles (EVs). It claims to have over 30,000 manufacturers across 15 countries. Within just three years of operation, CapGrid has surpassed the Rs 100 crore revenue milestone. The company achieved a 2.3X year-on-year growth to Rs 101 crore in FY24 from Rs 44.3 crore in FY23. However, its bottom line reflected a loss of Rs 26.14 crore in the same period.

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CapGrid Solutions raises $5 Mn led by Anicut Capital

EntrackrEntrackr · 11m ago
CapGrid Solutions raises $5 Mn led by Anicut Capital
Medial

CapGrid Solutions raises $5 Mn led by Anicut Capital B2B manufacturing startup CapGrid Solutions has raised $5 million (around Rs 45 crore) in a funding round led by Anicut Growth Fund. The round also saw participation from existing investors Nexus Venture Partners and Axilor Ventures. Earlier in January 2023, CapGrid had raised $7 million led by Nexus Venture Partners. The round closed at a valuation of Rs 305 crore after the investment, according to an ET report. The proceeds will be used for global expansion and investments in technology to improve supply chain and operational efficiencies. Founded in 2020 by Tiwari and Himanshu Singh Raghuvanshi, CapGrid helps car part makers and suppliers by making it easier to find and buy the materials they need. It helps OEMs procure precision parts and components from suppliers that it has tied up with. CapGrid currently operates around 11 fulfilment centres and has 50 strategic supply manufacturing partners. The Gurugram-based startup claims to have recorded a revenue of around Rs 99 crore in the last fiscal year and expects to reach Rs 220 crore in FY25.

Exclusive: Waycool to raise $13 Mn debt from Grand Anicut

EntrackrEntrackr · 1y ago
Exclusive: Waycool to raise $13 Mn debt from Grand Anicut
Medial

Exclusive: Waycool to raise $13 Mn debt from Grand Anicut B2B food and agritech platform Waycool raises Rs 110 crore (approximately $13 million) in debt from Grand Anicut. This will be the second debt round for the Chennai-based company in the last four months. The board at Waycool has passed a special resolution to issue 1,100 non-convertible debentures at an issue price of Rs 1,00,000 each to raise Rs 100 crore or $13 million, its regulatory filing accessed from the Registrar of Companies shows. The debt investment will come with an annual coupon rate of 18% and a tenure of 18 months. In addition to the 18% interest, an additional 4% interest, mutually agreed upon by the company and the lender, will also be applied, according to the explanatory statement filed by the company. According to the filings, Waycool plans to use the funds for general corporate business purposes. These back-to-back loans with high interest rates indicate that the company is facing challenges in securing an equity round and urgently needs capital. Waycool has raised around $160 million in funding to date from Lightrock, International Finance Corporation, FMO, and 57 Stars, among others. It was also negotiating for more than $50 million which could have propelled its valuation in the range of $900 million to $1 billion. However, the talks did not go through. The firm was valued at $700 million in its last equity round. Founded by Karthik Jayaraman and Sanjay Dasari, Waycool buys fresh produce, including dairy products, from farmers and sells them to retailers and restaurants. It also runs private label brands and handles distribution for fast-moving consumer goods or FMCG companies. Waycool registered 62% growth in its operating revenue to Rs 1,251 crore in FY23 whereas losses of the firm surged 89% to Rs 685 crore during the same period. The company has yet to file its annual report for FY24.

Exclusive: Footwear brand Neeman’s raising fresh funding from multiple investors

EntrackrEntrackr · 19d ago
Exclusive: Footwear brand Neeman’s raising fresh funding from multiple investors
Medial

Exclusive: Footwear brand Neeman’s raising fresh funding from multiple investors For the fiscal year ended March 2024, Neeman’s reported an 11.4% year-on-year increase in revenue from operations to Rs 76.94 crore from Rs 69.05 crore in FY23. Sustainable footwear startup Neeman’s has raised fresh funding from new and existing investors. This appears to be part of a Series B round that kicked off in June 2022. Neeman’s board issued 54,915 Series B2 compulsorily convertible preference shares (CCPS) at an issue price of Rs 6,465 per share to raise Rs 35.50 crore, according to its regulatory filing with the Registrar of Companies (RoC). The filing also shows that the company issued 5,414 partly paid-up equity shares to founders Taranjeet Singh Chhabra and Amar Preet Singh at the same issue price, with both founders investing equally. The Series B2 round saw participation from multiple investors, led by Snam Solutions (Muralidhar Dhuddu) with an investment of Rs 16 crore, followed by Grand Anicut at Rs 7 crore and Sharrp Ventures at Rs 5 crore, while other institutional and individual investors collectively infused Rs 7.5 crore, as per the RoC filing. As per Entrackr’s estimates, the company will be valued at around Rs 439 crore ($49 million) on a post-money basis. The fresh funds will be utilised for the working capital and business operations of the company. Neeman’s is a Hyderabad-based Indian footwear brand founded in 2017 by Taranjeet Singh Chhabra and Amar Preet Singh. The company focuses on eco-friendly, comfortable shoes made from sustainable materials and follows a direct-to-consumer (D2C) model, with a growing online presence and an increasing focus on offline expansion. According to startup data intelligence platform TheKredible, the company has raised over $17 million to date. Following the latest allotment, Grand Anicut holds an 8.63% stake in Neeman’s, while Enam Investments Pvt Ltd, Snam Solutions (Muralidhar Dhuddu), and Sharrp Ventures hold 4.76%, 3.64%, and 3.51% stakes, respectively. For the fiscal year ended March 2024, Neeman’s reported an 11.4% year-on-year increase in revenue from operations to Rs 76.94 crore from Rs 69.05 crore in FY23. During the year, the company narrowed its net loss by 14% to Rs 29.23 crore, compared to a loss of Rs 33.98 crore in FY23. The company is yet to file its financial statements for FY25.

Exclusive: Shark Tank India-backed P-Tal to raise fresh funds in pre-Series A round

EntrackrEntrackr · 5m ago
Exclusive: Shark Tank India-backed P-Tal to raise fresh funds in pre-Series A round
Medial

P-TAL is raising Rs 23 crore (approximately $2.7 million) from Rainmatter Capital, Anicut Capital, Venture Catalyst, RealTime Angel Fund, and 14 other investors. P-TAL featured in Season 3 of Shark Tank India and secured Rs 1 crore funding from Aman Gupta, Anupam Mittal, Amit Jain, Namita Thapar, and Vineeta Singh. The board at P-TAL to issue pre-Series A compulsory convertible preference shares to raise the aforementioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The company has received Rs 2.3 crore from Anicut Capital. According to Entrackr’s estimates, the company will be valued at Rs 116 crore ($13.6 million) post-money. Founded in 2019 by Agrawal, Kirti Goel, and Gaurav Garg, P-TAL (Punjab Thathera Art Legacy) sells handcrafted copper, brass, and kansa cookware, drinkware, and home decor. It caters to health-conscious consumers and fans of traditional Indian cooking and sustainable living. The company last raised Rs 4.33 crore in a seed round in October 2023, led by Titan Capital, with participation from Anicut Capital, Ghazal Aggarwal, Sandeep Aggarwal, Ashutosh Valani, and others. For the fiscal year ended March 2024, the Amritsar-based company reported revenue of Rs 5 crore and a net loss of Rs 1 crore during the same period.

Exclusive: Virtual credit card app Kiwi set to raise around $23 Mn in Series B

EntrackrEntrackr · 5m ago
Exclusive: Virtual credit card app Kiwi set to raise around $23 Mn in Series B
Medial

Exclusive: Virtual credit card app Kiwi set to raise around $23 Mn in Series B Fintech startup Kiwi is raising $23 million from new and existing investors, according to two sources aware of the matter. The fresh funding is coming at a gap of nearly two years for the Mumbai-based startup. “Vertex Ventures has issued a term sheet to lead the round,” said one of the sources, requesting anonymity as the talks are private. “Kiwi is likely to be valued at over $100 million (post-money) in this round, which will also see participation from existing investors Stellaris VP and Nexus VP.” This fresh fundraise follows Kiwi’s Series A round in November 2023, when it secured $13 million led by the above-mentioned existing backers. At the time of the earlier round, the startup was valued at around $65 million. Entrackr has also confirmed the fundraise through regulatory filings. Founded in 2022 by former Freecharge executive Anup Agrawal along with Satyam Kumar and Siddharth Mehta, Kiwi enables users to make UPI payments via RuPay credit cards. The company works with Axis Bank and has tied up with NPCI to push the adoption of credit on UPI. Unlike traditional credit cards, Kiwi issues a virtual RuPay card that can be directly linked to UPI apps such as Google Pay and PhonePe. The firm competes with Slice, OneCard and Uni among a few others. Kiwi declined to comment on the story while queries sent to Vertex, Omidyar, Nexus, and Stellaris did not elicit any response. Investor interest in Kiwi is in line with the broader push by the Reserve Bank of India and NPCI to enable wider adoption of credit on UPI. Since the feature was introduced in 2022, the product has gained traction with both banks and fintech companies experimenting with solutions to increase credit usage in digital payments. The firm claims to be the first to launch credit on UPI with a full-stack offering. According to startup data intelligence platform TheKredible, Siddharth Mehta, Anup Agarwal, and Mohit Bedi each hold about 16.2% stake in Kiwi as of the Series A round, while Nexus is the largest external stakeholder in the three-year-old startup.

Exclusive: 60-min fashion delivery startup Slikk to raise $10 Mn led by Nexus

EntrackrEntrackr · 10m ago
Exclusive: 60-min fashion delivery startup Slikk to raise $10 Mn led by Nexus
Medial

Exclusive: 60-min fashion delivery startup Slikk to raise $10 Mn led by Nexus Slikk, a fashion delivery platform promising 60-minute delivery, is all set to raise another funding round following its recent seed investment, sources familiar with the matter told Entrackr. "Nexus is spearheading a $10 million funding round at a $40 million valuation," said one of the sources. "The deal has already been finalized, and existing investors are expected to participate." On Tuesday, Slikk announced $3.2 million seed round led by Lightspeed with participation from Multiply Ventures and angel investors including Abhishek Goyal (Tracxn), Abhinav Pathak (Perpule), Madhav Tandan, Nikhil (Panthera), and Saurabh Gupta (DST Global). Slikk targets young, impulse-driven shoppers, including students, professionals, and trend-savvy urbanites influenced by social media. Over the next five years, it plans to expand into tier I and tier II cities, offering 60-minute fashion delivery while diversifying into seven-plus lifestyle categories. The startup features more than 80 brands, including Snitch, The Souled Store, Freakins, Uptownie, Off Duty, Bonkers, and Bewakoof. "Quick commerce is trending, and investors have recently shown strong interest in the fashion segment. With Myntra introducing a 30-minute delivery service for fashion and beauty products, more startups are likely to follow suit and seek funding,” said another source. Slikk declined to comment on the story while queries sent to Nexus did not elicit an immediate response.

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