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Stable Money raises $20 Mn led by Fundamentum

EntrackrEntrackr · 1m ago
Stable Money raises $20 Mn led by Fundamentum
Medial

Bengaluru-based wealthtech platform Stable Money has raised $20 million (Rs 173 crore) in a funding round led by Fundamentum Partnership and participation from existing investors Z47, RTP Global, and Lightspeed. Aditya Birla Ventures also joined the round. The company had previously raised $20 million across Series A and Seed rounds. The proceeds will be used to expand its product suite, onboard new banking partners, and scale distribution. The company aims to add at least eight more banks and NBFCs in 2025. Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money enables users to invest in fixed-return products like fixed deposits (FDs), recurring deposits, secured credit cards, and bonds. It currently partners with eight banks and two NBFCs, including IndusInd Bank, South Indian Bank, Slice SFB, Ujjivan SFB, Unity SFB, and Suryoday SFB. The platform has over 150,000 users and more than Rs 3,000 crore in assets under management. For the fiscal year ended March 2024, it reported an operating income of Rs 35.3 lakh and a net loss of Rs 12.29 crore.

FabHotels reports Rs 219 Cr revenue and Rs 5 Cr loss in FY23

EntrackrEntrackr · 1y ago
FabHotels reports Rs 219 Cr revenue and Rs 5 Cr loss in FY23
Medial

Casa2 Stays-owned FabHotels has been keeping itself under the radar for the past couple of years and the firm’s sheer focus on execution appears to have paid off well in the last fiscal year. The 10-year-old company registered 48% growth in its income during FY23 and reduced losses, inching closer to profitability. FabHotels’ revenue from operations spiked to Rs 219 crore in the fiscal year ending March 2023 from Rs 148 crore in FY22, its annual financial statements filed with the Registrar of Companies show. FabHotels is a chain of budget hotels with more than 600 properties in over 50 cities in India. Revenue from bookings formed 75% of the firm’s total operating collection which grew by 30.2% year-on-year to Rs 164 crore in FY23. The rest of the income came from sales and marketing fees. The company also has an income of Rs 12 crore from non-operating activities. Head to TheKredible for a detailed revenue breakup. The cost of accommodation formed 59% of the overall expenditure which increased by 30.8% to Rs 140 crore in FY23 from Rs 107 crore in FY22. Its employee benefits, commissions, brokerage, website development, legal/professional, and other overheads pushed FabHotels’ total cost by 47.5% to Rs 236 crore in FY23. Check TheKredible for a complete expense breakdown. The notable growth in scale and controlled cost mechanism helped FabHotels reduce its losses by 16.7% to a mere Rs 5 crore in FY23. Its ROCE and EBITDA margin improved to -33% and -1.7% respectively. On a unit level, the firm spent Rs 1.08 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -4% -1.7% Expense/₹ of Op Revenue ₹1.08 ₹1.08 ROCE -40% -33% FabHotels has raised $65 million across rounds and was last valued at around $141 million. According to data intelligence platform TheKredible, Accel is the largest external shareholder with 21.39% followed by Goldman Sachs and Panthera Growth Partners which command 20.52% and 10.64% respectively. Its co-founders Vaibhav Aggarwal and Adarssh Mnpuria together own 25.84%. FabHotels directly competes with Oyo, Treebo and several mid-segment independent chains. IPO-bound Oyo posted a revenue of Rs 5,464 crore in the last fiscal year while its losses stood at Rs 1,286 crore. Accor-funded Treebo Hotels reported Rs 89 crore income and Rs 3.6 crore loss during the fiscal year ending March 2023. Small is beautiful acquires a whole new meaning to FabHotels and its improving financials. The firm has had to build and survive challenges like the pandemic the hard way, and deserves credit for making it this far. Without the benefit of a generous backer like Softbank, Fabhotels has clearly made every rupee sweat harder to get where it has. With enough headroom for growth with its model, we believe the firm will see much better days ahead.

Deep-tech startup Contineu raises $1.2 Mn led by SenseAI Ventures

EntrackrEntrackr · 1m ago
Deep-tech startup Contineu raises $1.2 Mn led by SenseAI Ventures
Medial

Deep-tech startup Contineu has raised $1.2 million in a seed funding round led by SenseAI Ventures along with participation from Piper Serica Angel Fund. The proceeds will be used to build the AI-powered vertical data infrastructure stack for the construction industry, automating quality monitoring, compliance checks, and site-level visibility at scale, Contineu said in a press release. Co-founded in 2023 by Harshil Naik and Kanao Ramesh, Contineu eliminates the need for manual data entry on job sites through a proprietary platform that combines helmet-mounted 360° cameras with 3D computer vision models. The system automatically captures on-site visuals and converts them into structured insights, beginning with QA/QC detection and documentation. According to Contineu, its AI pipeline consistently exceeds state-of-the-art (SOTA) benchmarks on construction datasets, enabling high-accuracy defect and non-compliance detection, automated documentation, and execution insights—without human input. The platform claims that it is already seeing early enterprise adoption in India and abroad, with a growing sales pipeline and product-market fit signals emerging. Contineu aims to build the vertical AI data stack for construction, and it is enabling global infrastructure players to make smarter, faster decisions on-site.

Stride Green raises $3.5 Mn in seed round

EntrackrEntrackr · 1m ago
Stride Green raises $3.5 Mn in seed round
Medial

Stride Green raises $3.5 Mn in seed round Gurugram-based climate-tech platform Stride Green has raised $3.5 million in a seed funding round led by Micelio Technology Fund and Incubate Fund Asia, along with participation from other strategic investors. The proceeds will be used to expand the team, enhance its technology platform, and support its growth across India's clean energy transition sectors, including electric mobility, battery storage, and renewable energy. Founded by Ishpreet Gandhi and Vivek Jain, Stride Green provides asset financing and lifecycle management solutions tailored for sustainable businesses. It uses its proprietary tech stack to offer real-time analytics, alerts, and operational insights aimed at improving asset performance and longevity. The platform currently manages over 3,000 cleantech assets and collaborates with original equipment manufacturers and logistics firms. Stride Green facilitates leasing and financing solutions for these sectors, enabling companies to scale sustainably. Stride Green is also planning geographical and vertical expansion to deepen its role within the climate-tech space.

Wooden Street raises $43 Mn in Series C round from Premji Invest

EntrackrEntrackr · 7m ago
Wooden Street raises $43 Mn in Series C round from Premji Invest
Medial

Wooden Street, a furniture and home decor brand, has raised Rs 354 crore (approximately $43 million) in its Series C round from Premji Invest. Before this, the company had raised $30 million led by Westbridge in April 2022 and the latest round takes the total funding to $78 million to date. According to the company’s co-founder Dinesh Pratap Singh, the proceeds will be used to fuel business expansion, scale retail footprint by opening new stores in tier-II and tier-III cities and enhancing the omni-channel presence. Besides funding, Premji Invest will support Wooden Street with strategic insights to help scale its operations. Founded in 2015, Wooden Street operates on a company-owned, company-operated (COCO) model and boasts a network of more than 100 experience stores nationwide. Operating across both online and offline channels, the company has 102 experience stores, over 20 warehouses, and a 15 lakh sq ft manufacturing facility spread across India. For the fiscal year ending in March 2024, Wooden Street reported more than Rs 260 crore in revenue while its losses stood at only Rs 10.9 crore.

Healthify raises $20 Mn, aims for US expansion

EntrackrEntrackr · 8m ago
Healthify raises $20 Mn, aims for US expansion
Medial

Health and fitness platform Healthify (formerly HealthifyMe) has raised $20 million in fresh capital as part of a $45 million equity round. This round was led by Khosla Ventures and LeapFrog Investments, with new participation from Claypond Capital, the family office of Indian healthcare billionaire Dr. Ranjan Pai. In June 2023, Healthify raised $30 million in a pre-Series D round, which included $5 million in venture debt The fresh capital will fuel Healthify’s expansion into the US market and enhance its AI-driven nutrition and fitness coaching capabilities, the company said in a press release. Healthify has raised a total of $125 million in equity financing to date. Prior to this, the company secured $75 million in Series C in July 2021 from Khosla Ventures, LeapFrog Investments, Sistema Asia Fund, and Chiratae Ventures. Launched by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, Healthify uses a combination of software, wearable devices, and fitness trainers to help people reach their fitness goals. It claims to have served over 40 million users and is expanding its presence across 300 cities in India. According to Healthify, its AI capabilities are being tailored for new markets like the US, with features that accommodate local languages, food preferences, and cultural habits. In addition to its consumer app, Healthify has a B2B vertical focused on corporate wellness, with partnerships in the diagnostics, insurance, and pharmaceutical industries. On the financial front, Healthify’s Indian operations have reached operational profitability, and the company expects to be EBITDA-positive by the end of the fiscal year. While the firm has yet to file its annual report for FY24, it registered Rs 229.71 crore in revenue for FY23 with a Rs 142 crore loss.

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