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

News on Medial

Classplus and Pravega to lead $6 Mn round in GyanDhan

EntrackrEntrackr · 1m ago
Classplus and Pravega to lead $6 Mn round in GyanDhan
Medial

GyanDhan, a platform in the education-finance space, is in the final stages of securing a funding round worth approximately $6 million. Pravega Ventures and Classplus are jointly leading the funding round. A few of GyanDhan’s existing investors are also expected to take part. Gray Matters Capital, Sundaram Finance, and individuals such as Satyen Kothari, Paula Mariwala, and Pravin Gandhi are early backers of the company. GyanDhan has facilitated over Rs 7,000 crore ($840 million) in cumulative loan originations and has established an on-ground presence across 30 cities in India. Founded in 2015 by Ankit Mehra and Jainesh Sinha, GyanDhan is eyeing a valuation of around $15-20 million. Regulatory filings reveal that Classplus and Pravega have already invested Rs 20 crore ($2.33 million) and Rs 10 crore ($1.16 million) respectively, with the remainder of the $6 million round expected to be finalized shortly. GyanDhan has seen rapid growth over the past few years. In FY24, the company posted an operating revenue of Rs 21.4 crore along with a profit of Rs 1.36 crore. Pravega has previously invested in a handful of edtech-focused ventures, while Classplus—a B2B edtech platform—has built a diverse portfolio of educational startups.

4

Related News

GyanDhan elevates Aman Jain to co-founder role

EntrackrEntrackr · 1m ago
GyanDhan elevates Aman Jain to co-founder role
Medial

Education financing platform GyanDhan has elevated Aman Jain to the role of Co-founder. This move acknowledges Aman’s early belief in the company’s mission and his pivotal contributions across marketing, brand building, and strategic growth over the years. Aman now joins Ankit Mehra and Jainesh Sinha as the third co-founder of GyanDhan. Aman joined GyanDhan before the company disbursed its first education loan. He took charge of marketing and branding, helping establish it as a trusted and student-centric name in education financing, transforming an opaque process into a transparent and empowering experience for thousands of students. In recent years, Jain has expanded his role to lead strategic partnerships, building GyanDhan’s B2B ecosystem across more than 30 cities and launching a SaaS+ platform that helps study abroad consultants manage and streamline the loan process for their students. “Being named Co-founder is a deeply meaningful recognition of a journey I’ve been grateful to be part of since the very beginning. Building GyanDhan alongside Ankit and Jainesh has been both fulfilling and inspiring, grounded in trust, shared purpose, and genuine friendship. I’m thankful for their support over the years and look forward to continuing this mission together,” said Aman Jain, co-founder, GyanDhan. Recently, it raised Rs 50 crore (around $5.8 million) in a Series A round from Classplus and Pravega Ventures. The company claims to have enabled over Rs 7,000 crore in loan originations and aims to triple this to Rs 18,000 crore over the next three years. It has seen rapid growth over the past few years. In FY24, the company posted an operating revenue of Rs 21.4 crore along with a profit of Rs 1.36 crore.

Pravega Ventures leads $3 Mn pre-Series A round in Constelli

EntrackrEntrackr · 6m ago
Pravega Ventures leads $3 Mn pre-Series A round in Constelli
Medial

Pravega Ventures leads $3 Mn pre-Series A round in Constelli Aerospace and defence tech startup Constelli has raised $3 million in a pre-Series A funding round led by Pravega Ventures. This is the company's first institutional funding round. The proceeds will be deployed towards capital expenditure and research and development (R&D) of new products, Constelli said in a press release. Co-founded in 2017 by Satya Gopal Panigrahi and Avinash Chenreddy, Constelli specializes in developing advanced signal processing solutions and tools that enhance the design, development, and testing of critical aerospace and defence systems. According to the Hyderabad-based company, it leverages modern technologies and advancements in hardware and software, modeling and simulation, and distributed computing to achieve transformation. The company focuses on enhancing technical sophistication and expediting the development lifecycle of payloads for airborne and ground defence platforms. Constelli says that its products and services are used globally by organizations developing radar and electronic warfare (EW) systems. The company claims that it serves India's Ministry of Defence, the Defence Research and Development Organisation (DRDO), and defence contractors in South Korea, Australia, and Singapore. The other notable players in this space are NewSpace Research & Technologies, IdeaForge, Garuda Aerospace, and others.

Fluid Analytics raises $1.6 Mn in pre-Series A round

EntrackrEntrackr · 1y ago
Fluid Analytics raises $1.6 Mn in pre-Series A round
Medial

Cleantech startup Fluid Analytics has raised $1.6 million in its pre-Series A round led by Pravega Ventures and joined by an angel investor. The proceeds will be used to execute a global scale-up expansion starting with a focus on North America, the company said in a press release. Founded by Nidhi Jain and Asim R. Bhalerao, Fluid Analytics monitors water infrastructure health, waterway conditions, and the spread of water-borne diseases at scale. The startup claims to have successfully deployed solutions, monitored over 400 million gallons (1.5 billion litres) of urban wastewater spills and enabled the treatment and reuse of over 200 million gallons (800 million litres) daily. It continues to monitor a population of over 17.5 million for water-borne diseases, as an indicator of sewage spills. Its business model helps cities to combat water pollution sustainably, collaborating with utilities, contractors, and engineering firms. Early stage venture capital fund Pravega Ventures focuses on providing seed and pre-Series A funding. Its portfolio includes Crofarm (now Otipy), Fyle, SalarySe, Cashinvoice, and GrayQuest, among others.

Classplus introduces stock appreciation rights for its customers

EntrackrEntrackr · 1y ago
Classplus introduces stock appreciation rights for its customers
Medial

B2B edtech company Classplus has announced stock appreciation rights (SARs) for its customers,vendors and partners. Dubbed as ‘Gratitude SARs’, the initiative aims to reward and show appreciation to content creators and educators who have helped shape Classplus, the company said in a press release. Stock Appreciation Rights (SARs) are a form of incentive that gives recipients the benefit of the growth of a company without needing to buy any shares. Traditionally, employee stock ownership plans (ESOPs) or stock options linked to a company’s valuation are reserved for permanent employees only. With this plan, Classplus customers will be able to take part in the company’s growth, having a deeper partnership between the company and its user base. Classplus had also announced an ESOP buyback for over 150 employees across roles and business verticals in February this year. This was the second buyback announcement by the company in 6 years since inception. Founded by Mukul Rustagi and Bhaswat Agarwal, six-year-old Classplus is a mobile-first SaaS platform that helps creators turn their skills into profitable online businesses through content monetisation. Since inception, it has raised around $150 million from investors like Tiger Global, AWI, RTP Global, Blume Ventures, Peak XV’s Surge, among others.

Exclusive: Elevation Capital to lead $5 Mn round in Rumik.ai

EntrackrEntrackr · 1m ago
Exclusive: Elevation Capital to lead $5 Mn round in Rumik.ai
Medial

Exclusive: Elevation Capital to lead $5 Mn round in Rumik.ai Rumik has developed Ira, an AI system built to analyze emotion, understand user intent, and converse in languages such as Hinglish, Bangla, and Marathi. Conversational AI platform Rumik.ai is raising a new round led by Elevation Capital with participation from existing investors, according to two people aware of the matter. "Rumik recently raised $1.5 million from Info Edge, and Elevation is now leading a fresh $5 million in a new round," said a person who requested anonymity, as the details of the deal aren’t public. Sources also indicated that Huddle Ventures and Info Edge invested in April and both are likely to participate in the new round as well. Incorporated in April 2024, Rumik AI focuses on providing its conversational AI platform to enterprises. It has developed Ira, an AI system built to analyze emotion, understand user intent, and converse in languages such as Hinglish, Bangla, and Marathi. The company emphasizes that Ira does more than just process data. It forms memories and experiences to develop human-like intelligence, aiming to bridge the gap between robotic responses and genuine understanding. “The term sheet has been signed, and the money is likely to move soon,” said a second source who requested anonymity. “Given the recent investor interest in conversational AI and speech recognition, Rumik may be targeting a valuation in the range of $25–30 million.” Queries sent to Elevation, Rumik, Info Edge and Huddle did not elicit a response by the time of publication. Last month, Elevation Capital led a $6 million seed funding round in Agentic AI startup Adopt AI, which also features a conversational AI interface that executes tasks using natural language. In December 2024, the venture capital firm appointed former Meta executive Krishna Mehra as a partner to lead investments in software-as-a-service (SaaS) and AI.

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