🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Exclusive: Eggoz to raise Rs 125 Cr led by Gaja Capital

EntrackrEntrackr · 2m ago
Exclusive: Eggoz to raise Rs 125 Cr led by Gaja Capital
Medial

Eggoz, a consumer brand for eggs, is raising Rs 125 crore, approximately ($14.7 million) in its Series C round led by Gaja Capital with the participation of existing investors IvyCap Ventures and Redbright Partners. The board at Eggoz has passed a special resolution to issue 1 equity and 15,334 Series C preference shares at an issue price of Rs 81,511 each to raise Rs 125 crore or $14.7 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Gaja Capital will spearhead the round with Rs 100 crore, while IvyCap Ventures and Redbright Partners will inject Rs 20.95 crore and Rs 4.05 crore, respectively. According to Entrackr’s estimates, the company will be valued at around Rs 480-500 crore or $55-58 million post-money. This marks a 60% increase in the valuation when compared to its last round. Founded in 2017 in Bihar by Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz operates an asset-light, farmer-led model that ensures fresh eggs reach retailers within 24 hours. The brand has scaled its presence across Delhi-NCR, Bengaluru, Kolkata, Jaipur, Lucknow, and several non-metro cities. In a bid to diversify, Eggoz has also forayed into ready-to-cook offerings such as momos, burger patties, nuggets, and more. Eggoz has raised over $27 million in total funding so far. This includes an $8.8 million Series B round led by IvyCap Ventures. Before this, the company had secured $3.5 million in its Series A round and Rs 3.7 crore during its seed stage. The company has yet to file its FY25 numbers. Eggoz has recorded a 33.6% year-on-year increase in its revenue to Rs 73.1 crore in FY24, while the losses of the firm reduced by 24% to Rs 25 crore in the same period.

1

Related News

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: Oxyzo secures Rs 100 Cr debt

EntrackrEntrackr · 6m ago
Exclusive: Oxyzo secures Rs 100 Cr debt
Medial

Exclusive: Oxyzo secures Rs 100 Cr debt Fintech unicorn Oxyzo has secured Rs 100 crore (approximately $12 million) in debt from AK Capital Finance, a subsidiary of merchant banker A.K. Capital Services Ltd. The boards at Oxyzo allotted 1,00,000 non-convertible debentures to AK Capital at an issue price of Rs 10,000 each to raise Rs 100 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned debentures are issued for a tenure of 24 months and carry an interest rate of 9.75% per annum, the filing added. The proceeds will be used to augment the long-term resources of the company and meet working capital requirements. Oxyzo is the lending arm of B2B e-commerce unicorn OfBusiness, providing customized credit solutions for SMEs. It offers a range of loan products, including term loans, working capital solutions, low-interest rates, and collateral-free credit options. According to data intelligence platform TheKredible, the Gurugram-based company reported operating revenue of over Rs 900 crore and a profit of Rs 290 crore for the financial year ending 2024. Oxyzo’s net profit grew 11.38% to Rs 82.89 crore and sales jumped 27.43% to Rs 282.80 crore in the quarter ended December 2024 (Q3 FY25), compared to Rs 221.93 crore in December 2023. The Ruchi Kalra-led firm achieved unicorn status by raising $200 million in its first external funding round, and it became the first startup to surpass a $1 billion valuation during its Series A round. As per TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the largest external stakeholder with 7.4% followed by Tiger Global.

Exclusive: Fintech startup CredAble scores $10 Mn in new round

EntrackrEntrackr · 1y ago
Exclusive: Fintech startup CredAble scores $10 Mn in new round
Medial

Fintech startup CredAble has raised $10 million in a new round from Singapore-based Equentia Natural Resources. The fresh investment has come after a gap of 15 months for the Mumbai-based company. The board at CredAble has passed a special resolution to issue 11,963 preference shares in November 2023, at an issue price of Rs 69,384 each to raise Rs 83 crore or $10 million, its regulatory filing sourced from the Registrar of Companies shows. The company will use these proceeds to meet the working capital requirements, growth/expansion, and general corporate activities, as per filings. CredAble has raised over $55 million across rounds including its last round of $9 million in August 2022, led by private sector lender Axis Bank and with the participation of Oaks Assets Management. As per TheKredible’s estimates, the company has been valued at $177 million post-allotment. Founded in 2017, CredAble provides working capital to large, mid, and emerging corporates, as well as micro, small, and medium enterprises (MSMEs), and financial institutions. According to the company website, it has over 125 enterprise customers and more than 3 lakh small business borrowers. The company also partnered with over 35 large financial institutions. It reportedly disbursed Rs 45,000 crore of working capital in the calendar year 2023, registering a 100% growth from the previous calendar year (FY22). The company is reportedly in talks to raise $50-70 million in its Series C round. CredAble’s revenue from operations grew 2.78X to Rs 13.94 crore in FY23 from Rs 4.92 crore in FY22. In pursuit of growth, the losses of the company surged 3.37X to Rs 22.40 crore in FY23 from Rs 6.53 crore in FY22.

Exclusive: Rupifi to raise Rs 1,215 Cr via right issue

EntrackrEntrackr · 5m ago
Exclusive: Rupifi to raise Rs 1,215 Cr via right issue
Medial

B2B payments platform Rupifi is raising Rs 1,215 crore ($144 million) from existing investors, including Quona and Tiger Global, marking its largest funding round and its first in three years. The board at Rupifi has passed a special resolution to issue 66427 compulsory convertible preference shares at an issue price of Rs 1,82,818 each to raise Rs 1,215 crore or $144 million, its regulatory filing accessed from the Registrar of Companies shows. The filings indicate that existing investors are expected to participate in the round. Rupifi plans to utilize the funds to support its business operations and address additional capital requirements, as per filings. Founded in 2020, Rupifi enables MSMEs to access multiple lenders on digital B2B platforms and marketplaces, similar to iSpirt’s Open Credit Enablement Network. It offers Line of Credit, Invoice Financing, and loans, focusing on seamless digital experiences and smart underwriting for banks, NBFCs, and service providers. Rupifi has raised over $35 million to date including its $25 million in Series A led by Tiger Global and Bessemer in 2022. According to the startup data intelligence platform TheKredible, Quona Capital is the largest external stakeholder followed by Tiger Global and Bessemer Venture Partners. The Bengaluru-based firm reported flat revenue at Rs 33.74 crore for the fiscal year ending March 2024. Meanwhile, the company reduced its losses by 22.8%, bringing them down to Rs 61.6 crore in the last fiscal year from Rs 79.8 crore in FY23.

Exclusive: Burger Singh scoops up Rs 47 Cr in fresh funding round

EntrackrEntrackr · 1m ago
Exclusive: Burger Singh scoops up Rs 47 Cr in fresh funding round
Medial

Exclusive: Burger Singh scoops up Rs 47 Cr in fresh funding round Burger Singh runs a hybrid model with both company-owned and franchise-led outlets, serving a range of burgers, momos, fries, beverages, and desserts. Homegrown quick service restaurant chain Burger Singh has raised Rs 47.15 crore (around $5.5 million) in a fresh round co-led by Negen Value Fund and Nine Rivers Capital. Rhodium Trust also participated alongside 19 other investors. As per regulatory filings accessed via the Registrar of Companies (RoC), the board approved a special resolution to issue 4,994 compulsory cumulative preference shares at an issue price of Rs 94,430 each to raise the funds. Negen Value Fund and Nine Rivers Capital contributed Rs 12 crore each, while Rhodium Trust invested Rs 8.5 crore. Turner Morrison and Thapar Family Trust pitched in with Rs 3.5 crore and Rs 2 crore, respectively. The round also saw participation from individual investors, including Vikas Kapur, Nomita Kapur, Sarfaraz Singh, and Rohit Khattar. The company plans to deploy the capital towards operations, capex, expansion, and general corporate purposes. As per Entrackr’s estimates, Burger Singh has been valued at around Rs 458 crore ($54 million) post-money. Queries sent to Kabir Singh (Founder of Burger Singh) didn't elicit any response till the publication of the story. The chain currently has over 175 outlets across 75 cities and aims to scale its footprint to more than 1,000 outlets by 2026. The company has yet to file its FY25 numbers. During the fiscal year ended March 2024, its revenue from operations grew 34% year-on-year to Rs 77.7 crore, up from Rs 57.8 crore in FY23. Burger Singh reported a net loss of Rs 27.91 crore during FY24. It competes with both global and local chain QSR (quick service restaurants) such as McDonald’s, Burger King, Wendy’s, Jumboking, Wat-a-Burger, Burgernama, and several others.

Exclusive: Baaz Bikes to raise fresh funds from existing investors

EntrackrEntrackr · 29d ago
Exclusive: Baaz Bikes to raise fresh funds from existing investors
Medial

Exclusive: Baaz Bikes to raise fresh funds from existing investors Founded by Anubhav Sharma and Shubham Srivastava, Baaz Bikes provides subscription-based scooters to gig workers at firms like Zomato, Zepto, Swiggy, and Amazon. Baaz Bikes is raising Rs 19 crore ($2.2 million) in its extended Series A round from its existing investors, including Big Capital, Rakuten Capital, and Kalaari Capital. The board at Baaz Bikes has passed a special resolution to issue 2,521 preference shares at an issue price of Rs 75,716 each to raise Rs 19.08 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Big Capital will be leading the round with an investment of Rs 8.36 crore, while Rakuten Capital and Kalaari Capital will be investing Rs 5.86 crore and Rs 4.35 crore, respectively. Preetinder Singh Panjrath (CFO of Big Capital) will also contribute Rs 50 lakhs during the fresh proceeds. According to the startup data intelligence platform TheKredible, the company will be valued at around Rs 278 crore or $32.29 million post-money. The company has raised $12 million to date, including its $8 million Series A round led by Big Capital in 2023. Kalaari Capital is the largest external stakeholder with 24.80%, followed by Big Capital and Rakuten Capital, which command 11.30% and 8.06% respectively. The subscription covers multiple battery swaps in a month. The company has yet to file its annual results for FY25. However, its revenue from operations was recorded at Rs 3.76 crore in FY24, with a loss of Rs 8.47 crore during the fiscal year ended in March 2024.

Download the medial app to read full posts, comements and news.