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Exclusive: Decentro to kick off Series B round led by Info Edge

EntrackrEntrackr · 1m ago
Exclusive: Decentro to kick off Series B round led by Info Edge
Medial

Exclusive: Decentro to kick off Series B round led by Info Edge Y-Combinator-backed fintech startup Decentro is set to raise Rs 26.3 crore (around $3 million) in its Series B round led by Info Edge, with participation from Stargazer Ventures and Infinyte Club Angel Fund. This funding comes nearly 2.5 years after the company raised $4.7 million in a round led by Rapyd Ventures, Leonis VC, and Uncorrelated Ventures, with participation from Kunal Shah (Founder and CEO of CRED), Lalit Keshre (Co-founder and CEO of Groww), and other angel investors. The Decentro’s board passed a resolution to approve the issue of 2 equity shares and 14,260 Series B CCPS at an issue price of Rs 18,442 each, to raise Rs 26.3 crore or $3 million, its regulatory filings accessed from the Registrar of Companies (RoC) show. Info Edge is set to lead the round with an investment of Rs 25 crore, while Stargazer Ventures and Infinyte Club Angel Fund will contribute Rs 1 crore and Rs 30 lakh, respectively. Founded in 2020, Decentro is an API platform that simplifies banking integrations for businesses, enabling them to quickly launch and scale financial products. It offers a full-stack solution for onboarding, account creation, payments, and other banking services, allowing companies to focus on their core offerings. This will be the first instance for the Singapore-based company to raise funding via an Indian entity. As per its consolidated financial statements filed with the Registrar of Companies (RoC), Decentro reported a 47% year-on-year increase in operating revenue to Rs 17.7 crore in FY24, up from Rs 12 crore in FY23. However, the company slipped into a loss of Rs 2.46 crore during the same period, after posting a profit in the previous fiscal.

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Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge

EntrackrEntrackr · 1m ago
Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge
Medial

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge Feminine hygiene brand Plush to raise its Series B funding round, led by angel investor Ajay Kumar Aggarwal, with participation from Careernet Technologies, OTP Ventures, Blume Ventures, and 11 other investors. The board at Plush has passed a special resolution to issue 4,099 Series B preference shares to raise Rs 30.56 crore or $3.6 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows. Ajay Kumar Aggarwal will lead the round with an investment of Rs 6 crore, while existing investors Careernet Technologies, OTP Ventures, and Blume Ventures will contribute Rs 5 crore, Rs 3 crore, and Rs 4 crore respectively. The remaining amount will be collectively invested by Rahul Garg, Sumit Jalan, Blue Ashva Varenya Fund, Rahul Kayan, and seven other investors. According to Entrackr’s estimates, the company’s valuation is expected to reach around Rs 281 crore (approximately $33 million) post-allotment. This marks nearly a 3X spike in its valuation, compared to its previous pre-Series B round. Following the fresh proceeds, Angel Investor Ajay Kumar Aggarwal will hold 19.64% stake in the company followed by Careerner Technologies and Blume Ventures which holds 16.37% and 13.08% respectively. Founded in 2019, the Chennai-based startup focuses on feminine care products, offering a range that includes period care, hair removal, intimate wellness, and skincare solutions. According to the company, its products are currently available in 500 stores across Bengaluru, Chennai, Mumbai, Delhi, and Hyderabad, with plans to expand retail presence to 2,000 stores over the next six months. Plush reported an 84% year-on-year revenue growth to Rs 28.87 crore in the fiscal year ending March 2024. During the same period, the company posted a loss of Rs 4.4 crore. The startup is projected to close FY25 with Rs 60 crore revenue.

Decentro raises Rs 30 Cr in Series B, to shift domicile to India

EntrackrEntrackr · 1m ago
Decentro raises Rs 30 Cr in Series B, to shift domicile to India
Medial

Decentro raises Rs 30 Cr in Series B, to shift domicile to India Y-Combinator-backed fintech startup Decentro has raised Rs 30 crore in its Series B funding round led by InfoEdge Ventures, with participation from Stargazer Growth and existing investors such as Uncorrelated Ventures. Entrackr has exclusively reported the Series B round recently. The proceeds will be used to grow enterprise adoption, expand product capabilities, and strengthen go-to-market efforts across financial institutions. Co-founded by Rohit Taneja and Pratik Daudkhane, Decentro’s offerings cover consumer and business verification, payment infrastructure for collections and disbursals, and AI-driven debt recovery systems. The API banking platform, which processes over Rs 50,000 crore in annual payment volumes, plans to shift its parent entity from Singapore to India within the next 12 to 18 months. The company claims to be profitable and serves more than 1,300 businesses including NBFCs, digital lenders, banks, and fintech firms. Recently, it launched Scanner, a real-time risk assessment engine, and Neobot, a multilingual AI voice agent focused on debt collections. As per TheKredible, Decentro reported a 47% year-on-year increase in operating revenue to Rs 17.7 crore in FY24 from Rs 12 crore in FY23. However, the company slipped into a loss of Rs 2.46 crore during the same period, after posting a profit in the previous fiscal.

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.

Decoding Geniemode’s Series C funding round, latest valuation and captable

EntrackrEntrackr · 3m ago
Decoding Geniemode’s Series C funding round, latest valuation and captable
Medial

Decoding Geniemode’s Series C funding round, latest valuation and captable Geniemode, a business-to-business cross-border e-commerce startup, recently announced $50 million in its Series C round led by Multiples Equity, with participation from Fundamentum, Paramark Ventures, and existing investor Info Edge Ventures. Entrackr has gone through its regulatory filings to decode the round break up, captable, and current valuation. The board of Geniemode has passed a special resolution to issue 5,601 Series C compulsory convertible preference shares at an issue price of Rs 6,60,430 each, raising Rs 370 crore. Additionally, the company has issued 667 partially paid-up equity shares worth Rs 44 crore to its co-founders, bringing the total amount to Rs 414 crore, its regulatory filing accessed from RoC shows. Multiples Equity led the funding round with an investment of Rs 223 crore ($26.2 million), followed by Fundamentum and Paramark Ventures, which contributed Rs 88 crore ($10.3 million) and Rs 36.7 crore ($4.3 million), respectively. Existing investor Info Edge also participated, investing Rs 22 crore ($2.6 million). According to Fintrackr’s estimates, the company’s post-money valuation has now reached Rs 1,800 crore or $212 million. Previously, it was valued at $160 million when it raised $28 million in a Series B round led by Tiger Global in April 2022. According to the data intelligence platform TheKredible, post-allotment co-founder Amit Sharma will hold 27.35% stake, existing investor Info Edge will be the largest external shareholder in the company with 23.2% stake in the company followed by new investor Multiples Equity holding 12.39% stake. See TheKredible for the complete shareholding pattern. Founded by Amit Sharma and Tanuj Gangwani, Geniemode is a B2B cross-border e-commerce startup specializing in furniture, home textiles, apparel, and accessories. It connects buyers with the right suppliers, streamlining the process from sample approval to shipping. Operating in more than 10 countries, Geniemode serves over 200 global buyers and suppliers. With offices in New York, London, Barcelona, China, Bangladesh, and India, it enables brands to source products internationally. For the fiscal year ending FY24, the Gurugram-based company reported a surge of over 2.6X in operating revenue to Rs 556 crore, while reducing losses marginally to Rs 77.62 crore.

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