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Exclusive: Chai Shots to raise $5 Mn from General Catalyst and InfoEdge

EntrackrEntrackr · 7m ago
Exclusive: Chai Shots to raise $5 Mn from General Catalyst and InfoEdge
Medial

Exclusive: Chai Shots to raise $5 Mn from General Catalyst and InfoEdge Hyderabad-based microdrama over the top (OTT) platform Chai Shots is raising $5 million in its maiden funding round, two sources aware of the development told Entrackr. “General Catalyst along with Info Edge are in advanced stages of closing a new funding round in Chai Shots,” said a source requesting anonymity. “A few angel investors may also participate.” Chai Shots is a short-video streaming platform with episodes under two minutes, available in several Indian languages. The platform is created by the team behind Chai Bisket, a popular digital media and storytelling company. The Chai Bisket team has built a content ecosystem over nine years, covering reels, podcasts, films, and regional stories through platforms like First Show, Mutiny Talent, Studio Panchatantra, and Chai Shots. The Chai Shots platform is still being developed and is expected to launch soon. “The official launch and funding announcement might take a few weeks,” said another source. The person also mentioned that interest in this space is growing, and a few more startups are likely to raise funds soon. Earlier this week, Flick TV, a similar startup, raised $2.3 million in seed funding led by Stellaris Venture Partners, with participation from Gemba Capital and Titan Capital. Chai Shots will also face competition from Kuku FM’s Kuku TV, ShareChat’s QuickTV, Reel Saga, and Reelies. Queries sent to Chai Shots, General Catalyst, and Info Edge did not elicit a response until publication of the story.

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Exclusive: FarMart set to raise $30-40 Mn in new round

EntrackrEntrackr · 2m ago
Exclusive: FarMart set to raise $30-40 Mn in new round
Medial

Exclusive: FarMart set to raise $30-40 Mn in new round B2B food supply startup FarMart is in advanced discussions to raise up to $40 million in a fresh funding round from new and existing investors. "FarMart has been in talks for this round for a while, and although discussions earlier were for a much larger raise, it is now close to being settled in the $35–40 million," said a source. Impact Fund Denmark and Greater Pacific are set to lead the round, while existing investors General Catalyst and Matrix Partners are also expected to participate. Earlier in April, FarMart raised $10 million in a mix of debt and equity. FarMart’s B2B platform digitizes the supply chain for agricultural inputs and produce by connecting nearby buyers and sellers, helping reduce logistics costs. It has built a strong retail presence across central and northern India, though its footprint in the southern states and Jammu & Kashmir remains limited. FarMart has so far raised more than $60 million, including its $32 million Series B round led by General Catalyst. The company’s operating revenue grew 30% year-on-year to Rs 1,341 crore in FY24, while it posted a net loss of Rs 68 crore. FarMart competes with Gramophone (now merged with Unnati), Agrim, Krishify, and several other players in the agri-supply ecosystem.

Chai Kings bags $3 Mn in Series A round

EntrackrEntrackr · 10m ago
Chai Kings bags $3 Mn in Series A round
Medial

Snippets Chai Kings bags $3 Mn in Series A round Chennai-based chai retail chain Chai Kings has raised $3 million (Rs 24 crore) in its Series A funding round from A.V. Thomas and Co. (AVT). Chennai-based chai retail chain Chai Kings has raised $3 million (Rs 24 crore) in its Series A funding round from A.V. Thomas and Co. (AVT). Earlier in January 2020, the tea brand had raised $1 million in its seed round from Chennai Angels (TCA), Hyderabad Angels and TiE India Angels. As part of this round, The Chennai Angels (TCA) are making a partial exit with substantial returns. The proceeds will be used to accelerate its expansion plans, enhance its product offerings, and further strengthen its supply chain. It will also be used in customer engagement and operational efficiencies. Founded by Jahabar Sadique and Balaji Sadagopan, Chai Kings offers a premium and hygienic chai experience, serving a diverse range of tea blends with a focus on quality, sustainability, and customer delight. Since its inception in 2016, Chai Kings claims to have operated 57 stores across Chennai, Hyderabad, and Coimbatore. The brand is known for its quality tea offerings, sustainable packaging, and customer-centric approach. Chai Kings claims that it will close FY25 with a revenue of Rs 48 crore with a positive EBITDA. The firm has plans to double its revenue over the next two years while maintaining profitability.

Exclusive: CityMall to raise $38 Mn in Series D round at flat valuation

EntrackrEntrackr · 5m ago
Exclusive: CityMall to raise $38 Mn in Series D round at flat valuation
Medial

Exclusive: CityMall to raise $38 Mn in Series D round at flat valuation Grocery-focused social e-commerce platform CityMall is set to raise Rs 334 crore ($38 million) in a Series D round from existing investors led by Accel with the participation of Waterbridge Ventures, Elevation Capital, Norwest Capital, Citius, and General Catalyst. This is the first major funding for the Gurugram-based company in 3.5 years since it raised $75 million in the Series C round in March 2022. The board at CityMall passed a resolution to approve the issuance of 7,278 Series D CCPS and an equity share at an issue price of Rs 4,58,716 each to raise the aforementioned sum, its regulatory filing accessed from Registrar of Companies (RoC) shows. Accel will lead the round with an investment of Rs 173.2 crore ($19.7 million), followed by Waterbridge Ventures at Rs 52 crore ($5.9 million). Citius and Norwest Capital will participate with Rs 48.38 crore ($5.5 million) and Rs 25.96 crore ($2.95 million), respectively. Elevation Capital (Rs 21.65 crore), General Catalyst (Rs 8.67 crore), and angel investor Rohit Agarwal (Rs 4 crore) will also join the round. The proceeds will be used for capital expenditure, marketing, and other general corporate purposes, the filing added. According to Entrackr’s estimates, the company’s valuation remained flat at Rs 2,780 crore or $316 million. The company might raise more funds in this round and its valuation will vary accordingly. Founded in 2020, Grocery-focused social commerce startup CityMall offers daily essentials including grocery, FMCG, and home and kitchen products, and plans to expand into new categories such as beauty and accessories through its network of community resellers in tier II and III cities. According to the startup data intelligence platform TheKredible, Citymall has so far raised over $110 million across multiple funding rounds. The Accel-backed company has not yet filed its FY25 financials. In FY24, it reported over 23% year-on-year growth in gross revenue (GMV) to Rs 427 crore compared to Rs 346.4 crore in FY23. However, its losses rose 10% during the same period to Rs 159 crore.

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