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Exclusive: Dale Vaz’s stock trading app Sahi dilutes 40% stake after Series A

EntrackrEntrackr · 23d ago
Exclusive: Dale Vaz’s stock trading app Sahi dilutes 40% stake after Series A
Medial

Former Swiggy chief technology officer (CTO) Dale Vaz’s stock trading app Sahi recently raised $10.5 million or Rs 88.7 crore in its Series A round from Accel and Elevation Capital. While the company did not disclose key details such as valuation and dilution, Entrackr has analysed regulatory filings to uncover this information, including round-wise breakup and shareholding structure. The startup, which operates under Aartiya Technologies Private Limited, raised Rs 88.65 crore (around $10.5 million) through the allotment of 36,568 Series A compulsory convertible preference shares at an issue price of Rs 24,245 each, according to its filing with the Registrar of Companies (RoC). Accel India and Elevation Capital each invested Rs 44.3 crore (approximately $5.2 million each). According to Entrackr’s estimates, Sahi was valued at Rs 514 crore or $60.5 million post-allotment in the Series A. Following the latest allotment, Elevation Capital and Accel each hold a 20% stake in the company, while co-founders Dale Vaz and Manish Jain collectively retain 47.17%. The ESOP pool accounts for 12.41%, and notably, Swiggy co-founder and CEO Sriharsha Majety also holds a 0.10% stake in the company. Founded in 2023 by Dale Vaz and Manish Jain, Sahi is a trading platform for stocks and options, designed for fast and easy F&O trading. It offers a chart-based interface with real-time data, open interest, technical indicators, and one-click order execution. According to startup data intelligence platform TheKredible, Sahi has raised approximately Rs 146 crore (around $17 million) to date, including a Rs 56.5 crore seed round from Accel and Elevation in September 2023. Sahi operates as a registered broker on both NSE and BSE through Aartiya Broking Private Limited and had 12,632 active users as of June 2025, according to NSE data. In the fiscal year ended March 2024, Sahi reported no operating income but generated Rs 74 lakh in other income. The company posted a net loss of Rs 11.35 crore during the period.

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Former Swiggy CTO’s stock trading app Sahi raises $10.5 Mn led by Accel and Elevation

EntrackrEntrackr · 2m ago
Former Swiggy CTO’s stock trading app Sahi raises $10.5 Mn led by Accel and Elevation
Medial

Bengaluru-based stock trading platform Sahi has raised $10.5 million in a funding round led by Accel and Elevation Capital. The proceeds will be used to accelerate product innovation, scale its team, and deepen its presence across India. Founded in December 2024 by former Swiggy CTO Dale Vaz and ex-Kotak Securities executive Manish Jain, Sahi offers a chart-first interface with features like real-time Greeks, open interest tracking, technical indicators, and one-click execution. With over 200,000 app downloads, the platform claims to have seen 50% monthly growth in active traders. According to the company, around 20% of users have executed over 500 trades in five months. Sahi charges Rs 10 per trade, roughly 50% less than larger incumbents with its AI-powered infrastructure and lean team. Sahi plans to roll out new tools such as no-code strategy builders and multi-leg options execution, ahead of SEBI’s new rules enabling retail participation in algorithmic trading from August 1, 2025. Its trading website is also set to go live this week, adding to its mobile and desktop platforms. Earlier in January last year, Vaz announced the launch of his new startup operated under Aaritya Technologies, which raised seed funding in September 2023. Vaz joined Swiggy as the head of engineering and data science in 2018 and became the group chief technology officer in early 2020. During his tenure, he managed technology for various Swiggy services, including Food, Instamart, Dineout, SuprDaily, Genie, Minis, Meat, and the alcohol delivery business. In April, amid a series of exits and broader restructuring ahead of its IPO, Vaz left Swiggy. Before joining Swiggy, Vaz served as the director of software engineering at Amazon India and started his career at Infosys.

Exclusive: Lokal launches Dostt, Eaze and Gyan TV; plans 40 more apps

EntrackrEntrackr · 6m ago
Exclusive: Lokal launches Dostt, Eaze and Gyan TV; plans 40 more apps
Medial

Hyperlocal social media platform Lokal has introduced a new app called Dostt, which offers 1-to-1 voice and video calling while maintaining user anonymity. This is one of the several dozen apps which the firm is set to launch over the next year, as per the company’s co-founder Jani Pasha. The Dostt app is designed as a secure and private platform featuring verified profiles and a diverse community. It aims to provide a safe space for conversations on topics such as relationships, love, career, and more. It caters to native language speaking users between the ages of 18 and 45. “We are rapidly expanding our app portfolio across multiple categories and are now preparing to launch 40 new apps in categories like astrology, emotional wellness, matrimony, and legal services in 2024,” said Pasha. Besides Dosst, Lokal has recently launched Eaze, an app focused on emotional wellness, and Gyan TV, a skill-based learning app similar to Seekho, offering courses on stock trading, photography, and more.

Exclusive: Kunal Shah-backed Punch to raise fresh funds

EntrackrEntrackr · 5m ago
Exclusive: Kunal Shah-backed Punch to raise fresh funds
Medial

Stock broking platform Punch is raising Rs 26 crore (approximately $3 million) in its extended seed round from new and existing investors. This comes just after 7 months of its $7 million seed round. The board at Punch has passed a special resolution to issue 1,27,650 pre-Series A4 CCPS at an issue price of Rs 2,036 each to raise Rs 26 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Existing investors Stellaris Venture Partners and SIG Venture Partners will invest Rs 8.66 crore each, while new investor Four SB Ltd (Mauritius-based) will also participate with Rs 8.66 crore during the round. The company will use the proceeds for growth, expansion, and general corporate activities, as per filings. Entrackr estimates that Punch will be valued at around Rs 157 crore or $18.5 million (post-money). According to the startup data intelligence platform TheKredible, existing investors Stellaris Venture Partners and SIG Venture Partners will each hold a 15.9% stake in the company, while Four SB will own 5.5% (post-allotment). Punch is a mobile-first stock trading platform designed to make options trading seamless for both beginners and seasoned traders. It enables users to trade index options, stock options, and equities on the NSE and BSE exchanges. Punch has raised over $13 million to date across rounds including its $7 million seed round from Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners, and Innoven Capital. Its notable angel investors include Kunal Shah (Cred), Vatsal Singhal (Ultrahuman), and Nitish Mittersain (Nazara). For the fiscal year ending March 2024, Punch reported an operating revenue of Rs 7.2 crore, up from Rs 6.96 crore in FY23, while incurring a loss of Rs 1.68 crore during the last fiscal year.

Exclusive: Altum Credo to raise Rs 100 Cr in Series C round

EntrackrEntrackr · 1m ago
Exclusive: Altum Credo to raise Rs 100 Cr in Series C round
Medial

Housing finance company Altum Credo is raising Rs 100 crore (approximately $11.8 million) in its ongoing Series C round from existing investor British International Investment. This will follow its $40 million Series C round in April last year, which comprised $27 million in primary capital and $13 million in secondary transactions, providing a partial exit to its early investors. The board at Altum Credo passed a resolution to issue 57,80,347 Series C1 CCPS at an issue price of Rs 173 each to raise Rs 100 crore, according to its regulatory filing accessed from Registrar of Companies (RoC). The proceeds from this funding will be used to expand the company’s lending operations and geographic reach, filling added. According to Entrackr’s estimates, the company will be valued at Rs 1,694 crore (approximately $200 million) post-allotment, reflecting a 60% increase from its $124 million valuation in the previous fundraise. Founded in 2016, Altum Credo provides housing finance to economically weaker and low-income groups, offering home loans ranging from Rs 4 lakh to Rs 40 lakh for tenures of 5–20 years. It focuses on first-time homebuyers in semi-urban and rural India. According to startup data intelligence platform TheKredible, the Pune-based company has raised $70 million since inception. Following the allotment of this round, British International Investment will be holding a 9.04% stake in the company while its promoters Ganesh Rao, Ashish Tiwari and Vikrant Bhagwat will collectively retain a 18.26% stake. In the fiscal year ended March 2024, Altum Credo posted a 67% increase in operating revenue to Rs 112.87 crore, while its profit more than doubled to Rs 20 crore during the same period. Apart from Altum Credo, players like Aviom, Easy Home Finance, Basic Home Loan, and Andromeda also operate in the same space.

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