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Exclusive: Durlabh Darshan set to raise $2 Mn led by Prime VP

EntrackrEntrackr · 1m ago
Exclusive: Durlabh Darshan set to raise $2 Mn led by Prime VP
Medial

Exclusive: Durlabh Darshan set to raise $2 Mn led by Prime VP Spiritual startup Durlabh Darshan is set to raise $2 million in its first institutional funding round, according to sources familiar with the matter. The Bhopal-based company will join a growing list of startups in the spiritual tech space that have secured funding in recent years. “Prime Venture Partners is in late-stage talks to lead a new funding round in Durlabh Darshan,” said one of the sources, requesting anonymity. “The terms of the deal have been finalised.” Earlier in 2022, Durlabh Darshan had raised Rs 7.45 crore from individual investors, including Saurav Jindal, Deepak Garg, Gaurav Raizada, Jasvir Singh, and Nitesh Gupta, according to regulatory filings. Founded in 2024 by Prashan Kumar Mishra, Durlabh Darshan creates 3D 360° darshan journeys of major Hindu temples and rituals—such as Kashi Vishwanath in Varanasi, Mahakaleshwar in Ujjain, and Vaishno Devi in Katra. According to the company’s website, its journey began with a patent for a low-cost XR controller for smartphones. The company offers Durlabh Darshan Kendras—physical centers in temple towns—and online services that provide VR headset sessions and home-viewing kits, with bookings available for in-person VR shows like the Bhasma Aarti in Ujjain or home sessions starting at Rs 150–250. As per sources, Durlabh Darshan will be valued at under $10 million post money. Entrackr has reached out to Prime VP and Durlabh Darshan for comments. Its competitors include Temple 360, Who VR, and the Pilgrimage Tour app. Data from TheKredible reveals that startups in the astro and spiritual tech sector, including AstroTalk, Vama, Ustav App, DevDham, InstaAstro, and Melooha, have collectively raised more than $75 million over the past two and a half years. The sector also saw consolidation, as BrahmVeda acquired Vedvaani and Melooha took over Munitalks.

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Exclusive: Neo kicks off Series B with $26.5 Mn

EntrackrEntrackr · 11m ago
Exclusive: Neo kicks off Series B with $26.5 Mn
Medial

Wealth and asset management company Neo has raised Rs 220 crore or $26.5 million in its Series B led by Crystal Investment. This is the second significant round for the Mumbai-based company in the past 9 months. The board at Neo has approved issuing Series B preference shares at an issue price of Rs 3,12,421 each to raise $26.5 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Crystal investments pumped in Rs 140 crore (approximately $16.8 million) while Mufg Bank and individual investor Deepak Agarwal participated with Rs 78 crore and Rs 2 crore, respectively. This seems to be part of an ongoing round and the firm may raise more funds.. As per TheKredible’s estimates, the company has been valued at around Rs 1,920 crore or $231 million post-allotment. Neo has raised around $104 million to date including its $35 million Series B round led by Peak XV in October last year. According to the startup data intelligence platform TheKredible, Peak VV was the largest external shareholder, holding 22.22% of the company. Meanwhile, its co-founders—Nitin Jain, Varun Bajpai, and Hemant Dogra—collectively held 63.81% prior to this funding round. Neo provides advisory and yield-based investment solutions to high and ultra-high net worth individuals including indigenous family offices. The three-year-old firm demonstrated supper growth in the fiscal year ending March 2023 as its revenue ballooned 9X to Rs 65.1 crore. Neo achieved such growth with a mere loss of Rs 3.6 crore during FY23. The company is yet to disclose its FY24 results.

Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris

EntrackrEntrackr · 2m ago
Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris
Medial

Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris Propelld, an education-focused lending platform, is set to secure Rs 260 crore (around $30.5 million) in its Series D round led by WestBridge Capital with the participation of Stellaris Venture Partners. Propelld’s board passed a special resolution to allot 20,732 Series D compulsory convertible preference shares (CCPS) at an issue price of Rs 1,25,408 each to raise the aforementioned sum, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Westbridge Capital will invest Rs 240 crore ($28 million) via Setu AIF Trust, Konark Trust, and MMPL Trust while Stellaris Venture Partners will contribute Rs 20 crore. The investment will be utilized to meet the company’s working capital needs and capital expenditure for business expansion, the filing added. According to Entrackr’s estimates, the company is valued at around Rs 860 crore or $101 million post-allotment. Founded in 2019 by Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray, Propelld provides education loan financing through 'Study Now, Pay Later' products and Income Sharing Agreements (ISA) via its NBFC arm. The company also offers collateral-free education financing options. Following the latest fundraise, WestBridge will hold a 46.9% stake in the company while Stellaris Venture Partners will hold a 15.69% stake. Propelld competes with other education loans-focused fintech startups like Leap Finance and Grayquest.

Exclusive: EatClub to raise $22 Mn led by Tiger Global

EntrackrEntrackr · 1d ago
Exclusive: EatClub to raise $22 Mn led by Tiger Global
Medial

Exclusive: EatClub to raise $22 Mn led by Tiger Global EatClub operates a multi-brand cloud kitchen model. It operates sixteen brands, including Box8 and Mojo Pizza, Bhatti Chicken, NH1 Bowls, ZAZA Biryani, and others. EatClub, which owns and operates several popular cloud kitchen brands such as Box8 and Mojo Pizza, is raising Rs 185 crore (nearly $22 million) led by Tiger Global with the participation of A91 Partners and 360 ONE Asset Management. The board at EatClub has passed a special resolution to issue 11,830 preference shares to potential investors to raise the aforementioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows. As per the filing, Tiger Global is set to lead the round with an investment of Rs 126 crore, followed by A91 Partners with Rs 37.5 crore. 360 One Asset Management, through its Monopolistic and Opportunity Fund, will contribute Rs 21.2 crore. The company may raise more capital in this round. The company will use these proceeds for the growth and expansion of the company, the filing further added. According to Entrackr’s estimates, the company will be valued at around Rs 4,585 crore or $540 million post-money. This marks an 80% increase in the valuation when compared to its last fundraise of $40 million at $300 million in December 2021. EatClub also concluded a $30 million secondary transaction at an undisclosed valuation in March 2022. Founded by Anshul Gupta and Amit Raj, the company operates a multi-brand cloud kitchen model. It operates sixteen brands, including Box8 and Mojo Pizza, Bhatti Chicken, NH1 Bowls, ZAZA Biryani, and others. For the fiscal year ended March 2024, EatClub reported an operating revenue of Rs 515.5 crore and reduced its losses by around 77% to Rs 15.77 crore from Rs 69 crore in the previous year. The company has yet to file its annual report for FY25. EatClub stands out as one of the rare startups to receive a Tiger Global-led round in 2025. Prior to this, the investment firm had led a $125 million tranche in Infra.Market in January. EatClub directly competes with Rebel Foods, which raised $210 million last year through a mix of primary and secondary funding and reported Rs 1,420 crore in revenue with a loss of Rs 378 crore in FY24. Other notable rivals include Freshmenu, Curefoods’ Eatfit, and BBK. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Exclusive: Consumer lending startup Fibe raises $66 Mn

EntrackrEntrackr · 1y ago
Exclusive: Consumer lending startup Fibe raises $66 Mn
Medial

Digital lending platform Fibe (formerly EarlySalary) has raised Rs 547 crore or $66 million in Series E round led by TPG’s The Rise Fund and Kabira Holdings. This is the first round of investments for the Pune-based company in the past two years. The board at Five has passed a special resolution to issue 5,46,75,600 Series E CCPS at an issue price of Rs 100 each to raise Rs 547 crore, its regulatory filing accessed from the RoC shows. The Rise Fund led the round with Rs 133 crore while Kabira Holdings put in Rs 125 crore. Eight Road Ventures, Norwest Capital, and Trifecta participated with Rs 41.6 crore, Rs 62.5 crore and Rs 55 crore, respectively. Amara Partners and Chirate also invested Rs 29.17 crore and Rs 100 crore. According to filings, the company will use these funds for expansion and growth as per the business plan duly adopted by the board. This is a developing story…

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.

Exclusive: 60-min fashion delivery startup Slikk to raise $10 Mn led by Nexus

EntrackrEntrackr · 4m ago
Exclusive: 60-min fashion delivery startup Slikk to raise $10 Mn led by Nexus
Medial

Exclusive: 60-min fashion delivery startup Slikk to raise $10 Mn led by Nexus Slikk, a fashion delivery platform promising 60-minute delivery, is all set to raise another funding round following its recent seed investment, sources familiar with the matter told Entrackr. "Nexus is spearheading a $10 million funding round at a $40 million valuation," said one of the sources. "The deal has already been finalized, and existing investors are expected to participate." On Tuesday, Slikk announced $3.2 million seed round led by Lightspeed with participation from Multiply Ventures and angel investors including Abhishek Goyal (Tracxn), Abhinav Pathak (Perpule), Madhav Tandan, Nikhil (Panthera), and Saurabh Gupta (DST Global). Slikk targets young, impulse-driven shoppers, including students, professionals, and trend-savvy urbanites influenced by social media. Over the next five years, it plans to expand into tier I and tier II cities, offering 60-minute fashion delivery while diversifying into seven-plus lifestyle categories. The startup features more than 80 brands, including Snitch, The Souled Store, Freakins, Uptownie, Off Duty, Bonkers, and Bewakoof. "Quick commerce is trending, and investors have recently shown strong interest in the fashion segment. With Myntra introducing a 30-minute delivery service for fashion and beauty products, more startups are likely to follow suit and seek funding,” said another source. Slikk declined to comment on the story while queries sent to Nexus did not elicit an immediate response.

Exclusive: M2P Fintech to raise $80 Mn at $900 Mn valuation

EntrackrEntrackr · 12m ago
Exclusive: M2P Fintech to raise $80 Mn at $900 Mn valuation
Medial

Application programming interface (API) infrastructure platform M2P Fintech (formerly Yap) is in the final stage to raise a new round from new and existing investors, three sources aware of the details told Entrackr. The new round will come for the Bengaluru-based company after two and a half years. It raised $56 million in an equity round led by Insight Partners at a valuation of $650 million (post-money). “M2P is closing a $80 million new round of funding led by a new investor. Existing investors including Insight Partners are likely to join the round,” said one of the sources requesting anonymity. Sources assert that funding will be used to beef up tech infrastructure and accelerate growth pedal in India and overseas markets among others. For the uninitiated, M2P Fintech’s API enables businesses to offer their own branded financial services through partnerships with fintech companies while ensuring regulatory compliance. Apart from India, it operates in Nepal, UAE, Australia, New Zealand, the Philippines, Bahrain and Egypt among several other countries. “M2P will be valued at around $880 to $900 million (post-money) in the new round,” said another source requesting anonymity. “The company has already received the term sheet and the deal is set to be public soon.” Queries sent to M2P Fintech and Insight Partners did not elicit an immediate response. To strengthen its offerings, the Tiger Global-backed firm has acquired six companies to date including Goals101, Syntizen and BSG ITSOFT. According to startup data intelligence platform TheKredible, M2P has raised Rs 864 crore till date. Beenext is the largest stakeholder in the company with over 13% holding. Its co-founders Madhusudhan R, Muthukumar A and Prabhu R collectively own 34% of the firm. M2P is yet to disclose its FY24 numbers but its operating revenue surged 2.26X to Rs 440.7 crore in FY23 from Rs 194.74 crore in FY22. The growth triggered the firm’s losses by 3.35X to Rs 134.26 crore in FY23. M2P Fintech is a leader in the API infrastructure business which counts Setu, Signzy and Decentro as other key players.

Exclusive: upGrad raises $35 Mn debt from EvolutionX

EntrackrEntrackr · 1y ago
Exclusive: upGrad raises $35 Mn debt from EvolutionX
Medial

Edtech unicorn upGrad has raised Rs 287.5 crore (approximately $35 million) from EvolutionX. This is the first debt funding for the Mumbai-based company this year. The board at upGrad has passed a special resolution to issue 28,75,000 debentures at an issue price of Rs 1,000 each to raise Rs 287.5 crore or $35 million, its regulatory filing accessed from the Registrar of Companies shows. The company will use these funds for growth, operating expenses, and general corporate purposes, according to the filings. upGrad has raised over $650 million to date including $36.5 million via right issue from Teamsek, founder Ronnie Screwala, and other in March last year. The Temasek-backed company was reportedly in talks to raise $100 million to close the acquisition of online education firm Udacity. According to the startup data intelligence platform TheKredible, Temasek is the largest external stakeholder with 20.7% while Upgrad’s co-founder and chairperson Ronnie Screwvala holds a major 22.4% of the company. upGrad forayed into the offline higher education space in 2022 and invested $30 million to set up ten global campuses across India, the US, and other regions. upGrad experienced notable growth as its operational revenue increased by 72% to Rs 1,194 crore in FY23, up from Rs 692 crore in FY22. However, alongside this growth, the company’s losses also rose by 82% to Rs 1,114 crore in FY23. The company is yet to file its annual results for FY24.

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