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Exclusive: Deeptech IoT startup Datoms to raise Rs 25 Cr in Series A

EntrackrEntrackr · 29d ago
Exclusive: Deeptech IoT startup Datoms to raise Rs 25 Cr in Series A
Medial

Snippets Exclusive: Deeptech IoT startup Datoms to raise Rs 25 Cr in Series A Datoms is raising $2.77 million (approximately Rs 25 crore) in a Series A funding round led by BIG Global Investments JSC, with participation from existing investors YourNest Innovative Products VC Fund and IvyCap Ventures. Datoms has passed a special resolution to issue 58,349 Series A compulsorily convertible preference shares (CCPS) and two equity shares at an issue price of Rs 4,274 per share, aggregating to a total fundraise of Rs 25 crore, according to regulatory filings accessed from the Registrar of Companies (RoC). BIG Global Investments JSC will lead the round with an investment of Rs 15 crore, followed by YourNest Innovative Products VC Fund with Rs 6 crore and IvyCap Ventures with Rs 4 crore, taking the total round size to Rs 25 crore. As per Entrackr’s estimates, the company will be valued at around Rs 110 crore ($12.18 million) on a post-money basis. The fresh capital will be used to support growth and expansion, meet operational requirements, and fund general corporate purposes. Previously, the startup had raised $1.2 million led by Yournest VC in October 2023. Co-founded by Amiya Samantaray, Nataraj Sahoo, Amrit Biswal, and Asish Sahoo, Datoms is a Bhubaneswar-based deeptech startup building a connected operations cloud that unifies people, processes, and machines on a single platform. Its industrial IoT solutions help sectors such as construction, warehousing, agriculture, mining, and ports improve efficiency, automate workflows, and optimise asset management. Following the Series A round, BIG Global Investments JSC will hold a 12.00% stake in Datoms, while YourNest Innovative Products VC Fund and IvyCap Ventures will hold 14.74% and 3.20% stakes, respectively. For the fiscal year ended March 2025 (FY25), Datoms reported operating revenue of Rs 5.57 crore, up from Rs 3.09 crore in FY24. The company’s losses widened to Rs 5.82 crore in FY25 from Rs 4.38 crore in the previous fiscal year.

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Deeptech IoT startup DATOMS raises Rs 25 Cr in Series A led by Big Capital JSC

EntrackrEntrackr · 18d ago
Deeptech IoT startup DATOMS raises Rs 25 Cr in Series A led by Big Capital JSC
Medial

Indian industrial deeptech IoT startup DATOMS has raised Rs 25 crore (around $2.76 million) in a Series A funding round led by Big Capital JSC. The round also saw participation from IvyCap Ventures and follow-on investment from YourNest Venture Capital. Entrackr had exclusively reported the current round this month. Previously, the startup had raised $1.2 million led by Yournest VC in October 2023. As per Entrackr’s estimates, the company will be valued at around Rs 110 crore ($12.18 million) on a post-money basis. The proceeds will be used to strengthen product and technology, expand into new markets and hire across engineering, data science and enterprise sales. The firm will also enhance its AI-driven predictive maintenance and energy management capabilities. Founded in 2021 by Amiya Samantaray, Asish Sahoo, Nataraj Sahoo and Amrit Biswal, DATOMS builds an industrial IoT platform that connects physical machines and turns them into trackable assets across their lifecycle. Its platform enables enterprises and OEMs to monitor performance in real time, predict failures, optimize energy usage and manage service operations. DATOMS currently monitors over 25,000 machines across sectors including logistics, healthcare, manufacturing, cement, steel and mining. It plans to scale this to 1 lakh machines within a year. The brand operates from Bhubaneswar and Bengaluru and serves more than 100 customers globally. For the fiscal year ended March 2025 (FY25), Datoms reported operating revenue of Rs 5.57 crore, compared to Rs 3.09 crore in FY24. The company’s losses widened to Rs 5.82 crore in FY25 from Rs 4.38 crore in the previous fiscal year.

Deeptech IoT start-up Datoms raises $1.2 million led by Yournest VC

Business TodayBusiness Today · 2y ago
Deeptech IoT start-up Datoms raises $1.2 million led by Yournest VC
Medial

Indian industrial deeptech IoT start-up Datoms has raised $1.2 million in a pre-Series A funding round led by Yournest Venture Capital. The Bhubaneswar-based company has developed a connected operations cloud platform that consolidates people, processes, and machine operations. Datoms plans to use the funding to enhance its product offerings, strengthen AI/ML capabilities, and expand its market presence in India and the Middle East. The platform enables sectors such as construction, warehousing, agriculture, mining, and ports to achieve higher efficiency and automate processes. Datoms aims to disrupt the $600 billion global connected machine market and has already connected over 5,000 machines with clients including Mahindra & Mahindra and Tata Motors.

Exclusive: Ecozen to raise Rs 95 Cr debt from Momentum Capedge

EntrackrEntrackr · 2m ago
Exclusive: Ecozen to raise Rs 95 Cr debt from Momentum Capedge
Medial

Exclusive: Ecozen to raise Rs 95 Cr debt from Momentum Capedge Climate-focused deeptech startup Ecozen is raising Rs 95 crore (approximately $10.7 million) in debt funding from Momentum Capedge Limited. This is the third debt injection for the Pune-based company in the past 12 months. Before this, Ecozen had raised $12.5 million in debt from UTI International and Spark Capital, as well as $23 million from responsAbility Investments AG, Northern Arc Capital Limited, and others. The board at Ecozen has passed a special resolution for approval to issue 950 Series E non-convertible debentures (NCDs) at a face value of Rs 10 lakh each to raise Rs 95 crore, including a green shoe option of up to Rs 25 crore, according to its filing with the Registrar of Companies (RoC). According to the filing, the debentures carry an interest rate of 11.5% per annum with a tenure of 27 months, and the debt proceeds will be used for immediate capital requirements to aid the growth of the business. Founded by Devendra Gupta, Ecozen provides climate-smart deep-tech solutions built on core technology stacks such as motor controls, IoT, and energy storage, leveraging solar power. The company's key products include Ecotron (solar pump controller), Ecofrost (solar cold storage), solar AC, solar panels. According to startup data intelligence platform TheKredible, Ecozen has raised over $76 million to date through a mix of debt and equity. Nuveen Global and Omnivore are the company’s lead investors. For the fiscal year ended March 2025, the Pune-based company’s operating scale expanded over 2.3X to Rs 889 crore from Rs 377 crore in FY24, while profits surged 4.7X to Rs 95 crore. Ecozen competes with Powerflex, Inficold, and Khetworks.

Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B

EntrackrEntrackr · 6m ago
Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B
Medial

Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B NBFC startups GrowXCD Finance is set to kick off Series B round with Rs 200 crore ($22.7 million) led by Swiss-based Blue Earth Capital with participation from Prosus and existing investors including Lok Capital and UC Impower. Earlier this year, GrowXCD raised Rs 50 crore in its pre-Series B round from Lok Capital and UC Impower. The board at GrowXCD passed a resolution to approve the issue of 1,56,92,344 Series B CCCPS at an issue price of Rs 127.61 each to raise Rs 200.25 crore, according to its regulatory filing accessed from Registrar of Companies (RoC). Blue Earth Capital will lead the round with Rs 105 crore ($12 million), followed by Prosus with Rs 69.4 crore ($7.9 million). Existing investor Lok Capital will invest Rs 21.3 crore ($2.4 million), while UC Impower will join with Rs 4.26 crore and Anshul Agarwal with Rs 25 lakh. A separate filing showed an addition of 10,00,000 options worth Rs 12.76 crore to the ESOP pool, taking its total size to about Rs 43 crore. According to Entrackr’s estimates, the NBFC’s valuation has nearly tripled to around Rs 630 crore ($71.5 million), compared to Rs 215 crore in the previous round. Founded in 2022 by Arjun Muralidharan and Sathish Kumar Vijayan, GrowXCD extends credit to two key segments: micro, small and medium enterprises (MSMEs) and low-income households. Its offerings include small property-backed mortgage loans and short-term unsecured business loans. According to startup data intelligence platform TheKredible, the Chennai-based firm had raised around $12 million prior to this round. Following the latest allotment, Blue Earth Capital will hold 16.7% stake, Prosus 11.04%, while existing investor Lok Capital remains the largest shareholder with 30.84%. For the fiscal year ended March 2025, GrowXCD’s revenue jumped over 7X to Rs 27 crore from Rs 3.73 crore in FY24. During the same period, its losses also widened to Rs 8.17 crore.

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation

EntrackrEntrackr · 2m ago
Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation
Medial

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation Wint Wealth is raising Rs 120 crore (approximately $13.3 million) in its Series B funding round led by Vertex Ventures. This marks the Bengaluru-based startup’s first major fundraise in over three and a half years. Wint Wealth’s board has passed a special resolution to issue 94,047 Series B compulsory convertible preference shares at an issue price of Rs 12,804 each to raise Rs 120 crore or $13.3 million, according to the filings sourced from the Registrar of Companies. Vertex Ventures will lead the round with an investment of Rs 77.52 crore, while Unitary Fund, Eight Roads Ventures, and 3one4 Capital will infuse Rs 18.7 crore, Rs 13 crore, and Rs 8.16 crore, respectively. Zerodha’s incubation arm, Rainmatter, will also participate in the Series B with a Rs 3 crore investment. As per filings, the company plans to utilise the proceeds towards capital expenditure, marketing, and general corporate purposes. Based on Entrackr’s estimates, the wealth management startup is raising fresh capital at a post-money valuation of around Rs 707 crore (nearly $80 million). The company may raise additional capital as part of the Series B round, which could lead to changes in its valuation and shareholding structure. Post this round, Vertex Ventures will hold a 10.96% stake in Wint Wealth, while 3one4 Capital, Unitary Fund, Rainmatter, and ERVI Technology, an arm of Eight Roads Ventures, will own 8.54%, 8.32%, 2.55%, and 1.84%, respectively, according to the filings. Wint Wealth is yet to file its FY25 numbers. In FY24, the company posted Rs 17.2 crore operating revenue with a loss of Rs 18 crore.

Exclusive: Ecozen to raise Rs 111 Cr debt from UTI and Spark Investment

EntrackrEntrackr · 4m ago
Exclusive: Ecozen to raise Rs 111 Cr debt from UTI and Spark Investment
Medial

Exclusive: Ecozen to raise Rs 111 Cr debt from UTI and Spark Investment Climate-focused deeptech startup Ecozen has raised Rs 111.6 crore (around $12.5 million) in debt funding from UTI International Wealth Creator and Spark Alternative Investment fund. According to its filing sourced from the Registrar of Companies (RoC), Ecozen’s board approved the issuance of 500 non-convertible debentures (NCDs) to Spark Alternative Investment Firm and 616 non-convertible debentures (NCDs) to UTI International Wealth Creator at a face value of Rs 10 lakh each to raise the amount as mentioned above. The proceeds will be used for immediate capital requirements for aiding the growth of the business. Founded by Devendra Gupta, Ecozen offers climate-smart deep tech solutions and core technology stacks, including motor controls, IoT, and energy storage that leverage solar power. The company has two core products, Ecotron and Ecofrost. Ecozen claims to have recorded a CAGR of over 83% in revenue growth over the past three years. The company has manufactured over 300,000 Ecotron solar pump controllers to date, with 100,000 units produced between March and December 2024 alone. Ecozen has raised $76.4 million in funding to date, with Nuveen as its lead investor. The company raised $23 million in debt in January this year from responsAbility Investments AG, Northern Arc Capital Limited, Maanaveeya Development & Finance Private Limited, and others. The company is yet to file its financial results for FY25. However, in FY24, Ecozen’s revenue from operations grew to Rs 458 crore as compared to Rs 293 crore in FY23. At the same time, the firm’s profit increased to Rs 20 crore in FY24. Ecozen competes with Powerflex, Inficold, and Khetworks. Its diverse product portfolio includes Ecotron, Ecofrost, Eco-Freeze, Ecozen atta chakki, Ecotron Omni, and e-bike controllers, catering to a range of industries and needs.

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