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Coverstack set to raise $11 Mn in new round

EntrackrEntrackr · 1m ago
Coverstack set to raise $11 Mn in new round
Medial

Coverstack set to raise $11 Mn in new round Digital insurance company Coverstack, a B2B platform under the Coverfox Group, is set to raise Rs 95.7 crore (around $11 million) in a new round comprising both primary and secondary stake sales. The board at Coverstack has passed a special resolution to issue 19,216 preference shares and 3,187 share warrants at an issue price of Rs 33,827 each to raise Rs 75.78 crore in a primary round, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Vistra ITCL (India) Limited, acting as trustee of Elevar Ventures Partners, led the round with Rs 65 crore primary injection, while the founders, Sanjib Kumar Jha and Piyush Ranjan, cumulatively invested Rs 10.75 crore. According to Entrackr’s analysis, Elevar Ventures Partners also purchased 5,912 equity shares from existing investors in a secondary transaction worth Rs 20 crore, taking the total capital raised in the round to Rs 95.7 crore (about $11 million). Coverstack’s post-money valuation is estimated at around Rs 476 crore ($54 million), according to Entrackr’s estimates. With this round, the Mumbai-based firm has raised over Rs 465 crore across multiple rounds. Coverstack, the B2B arm of Coverfox, acts as its tech platform for digital insurance distribution, enabling fintechs, brokers, and other platforms to offer insurance products and supporting Coverfox’s shift to scalable, tech-based solutions. While the company has not disclosed its revenue for the fiscal year ending March 2025, Coverstack reported a loss of Rs 11.87 crore in FY25. In FY24, it had revenue from operations of Rs 2.63 crore and a loss of Rs 14.87 crore.

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Exclusive: Wondrlab to raise fresh funds at $90 Mn valuation

EntrackrEntrackr · 2m ago
Exclusive: Wondrlab to raise fresh funds at $90 Mn valuation
Medial

Exclusive: Wondrlab to Raise Fresh Funds at $90 Mn Valuation Martech platform Wondrlab is set to raise Rs 40.8 crore (around $4.6 million) in a fresh funding round led by Wildflower Private Trust with the participation of existing investors Pi Ventures, Tanas Capital, and others. This is the first funding in four years for the marketing firm since it raised $7 million in its seed round in October 2021. The Wondrlab’s board passed a resolution to approve the issue of 7,744 preference shares and 500 equity shares at an issue price of Rs 49,472 each to raise the mentioned sum, according to its regulatory filing from Registrar of Companies (RoC). Wildflower Private Trust will be leading the round with a Rs 12.5 crore investment, while existing investors Pi Ventures and Tanas Capital will infuse Rs 9.85 crore and Rs 6.7 crore, respectively. The rest of the amount will be contributed by a group of angel investors including Nazara’s promoters Nitish Mittersain and Vikash Mittersain. The company will also allot equity shares to the co-founders of its recently acquired firm, BigStep Tech. According to Entrackr’s estimates, the Mumbai-based company will be valued at around Rs 796 crore or $90 million post-money. Founded in 2020 by Saurabh Varma, Vandana Verma, and Rakesh Hinduja, Wondrlab is a platform-first martech startup specializing in technology, digital, and programmatic advertising. Following the latest allotment, Pi Ventures will hold an 11.5% stake, while Tanas Capital will own 7.82%. New investor Wildflower Private Trust will acquire 1.5%, and the promoters will collectively retain a 60.53% stake. For the fiscal year ended March 2024, Wondrlab’s operating revenue tripled to Rs 189 crore from Rs 63 crore in FY23, while profit surged to Rs 11 crore. It has yet to file its FY25 numbers.

Ultrahuman in talks to raise $120 Mn

EntrackrEntrackr · 6m ago
Ultrahuman in talks to raise $120 Mn
Medial

Ultrahuman is reportedly in talks to raise $120 million in a new round led by WestBridge Capital. The development comes a year after the Bengaluru-based company’s $35 million Series B round. Moneycontrol, which reported the development first, said that some private equity funds may also participate in the round at a valuation of $550–600 million. According to TheKredible's estimates, the company was valued at $125 million after its Series B round. It has raised over $60 million to date from investors including Zomato founder and chief executive Deepinder Goyal, Nexus Ventures, Blume Ventures, and Alpha Wave. Ultrahuman is a self-quantification platform that offers a smart ring called Ring Air, a glucose monitoring wearable called M1 Live, and a blood testing product called Blood Vision, among others. The company also launched its luxury Rare smart ring collection earlier this year. The Mohit Kumar-led company recorded a significant jump in its operating scale to $74.5 million (approximately Rs 620 crore) for the calendar year 2024 (CY24). It claimed to have reported an 11% profit before tax (PBT) and an 8% EBITDA during the same period.

Exclusive: Snabbit set to raise $30 Mn with over 2X valuation premium

EntrackrEntrackr · 19d ago
Exclusive: Snabbit set to raise $30 Mn with over 2X valuation premium
Medial

URL: https://entrackr.com/exclusive/exclusive-snabbit-set-to-raise-30-mn-with-over-2x-valuation-premium-10600876 Content: On-demand home services platform Snabbit is raising Rs 265.4 crore ($30 million) in a Series C round led by Bertelsmann, with participation from existing investors Lightspeed, Elevation, and Nexus Venture Partners. This marks the third funding round within 10 months of 2025 for the Bengaluru-based company, which last raised $19 million in its Series B round in May. Snabbit recently relocated its base from Mumbai to Bengaluru. The Snabbit’s board passed a special resolution to approve the issuance of 54,876 Series C CCPS at an issue price of Rs 48,377 apiece to raise the above-mentioned sum, its regulatory filing accessed from Registrar of Companies (RoC) shows. As per the filing, Bertelsmann will lead the round with an investment of Rs 135.39 crore ($15.38 million). Existing investors Lightspeed and Elevation Capital will each contribute Rs 53 crore ($6 million), while Nexus Venture Partners will invest Rs 23.89 crore to increase its stake in the company. The proceeds from the funding will be used to meet its working capital needs and capital expenditure to sustain growth, expand its user base in India, and address general corporate purposes, the filing added. According to Entrackr’s estimates, Snabbit’s valuation is set to surge over 2X to Rs 1,516 crore ($172 million) from $80 million in its Series B round. Notably, the company was valued at $23 million post its Series A round in January this year. Founded in 2024 by Aayush Agarwal, Snabbit is an on-demand home services platform that connects households with trained professionals for tasks such as cleaning, dishwashing, and laundry. Users can book experts by the hour, with service providers arriving within 10 minutes. According to startup data intelligence platform TheKredible, Snabbit had raised around $25 million prior to this round. Following the latest allotment, new investor Bertelsmann will hold an 8.5% stake in the company, while Nexus Venture Partners will remain the largest external shareholder with a 21.24% stake. Elevation Capital and Lightspeed will own 19.93% and 14.79% stakes, respectively. Snabbit directly competes with industry leader Urban Company, which was recently listed on Indian stock exchanges. It also faces competition from Pronto, a ten-minute house help service startup that raised $11 million in a round co-led by General Catalyst and Glade Brook Capital.

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