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Exclusive: Fabric maker Jain Cord raises Rs 200 Cr in Series A from Lohia family office

EntrackrEntrackr · 1d ago
Exclusive: Fabric maker Jain Cord raises Rs 200 Cr in Series A from Lohia family office
Medial

Exclusive: Fabric maker Jain Cord raises Rs 200 Cr in Series A from Lohia family office Jain Cord, a Gurugram-based manufacturer of cotton and linen fabrics, has raised its first institutional funding of Rs 200 crore in a Series A round from the Lohia Family Office, operated under Indorama Capital Holdings Pte. Ltd. Jain Cord Industries’ board has issued 31,79,550 compulsorily convertible preference shares (CCPS) and 100 equity shares at an issue price of Rs 629 per share to raise a total of Rs 200 crore, according to its regulatory filing with the Registrar of Companies (RoC). According to Entrackr’s estimates, Jain Cord Industries is valued at around Rs 829 crore ($94.75 million) on a post-money basis. The fresh funds will be utilised for working capital requirements, repayment of unsecured borrowings, capital expenditure, and business expansion, along with supporting general operating expenses, as per the RoC filing. Founded in 1960, Jain Cord Industries is a vertically integrated textile manufacturer engaged in the production and processing of fabrics and garments. The company offers end-to-end capabilities across weaving, knitting, dyeing, finishing, and garment manufacturing, supported by modern production technologies and process-driven operations. Jain Cord is known for its woven fabrics, including corduroy and velveteen, and serves domestic and international apparel brands. It operates manufacturing facilities in Gurugram and Kosi near Mathura, with large-scale fabric and garment production capacity and a focus on quality and compliance standards. After the fresh allotment, Indorama Capital Holdings Pte. Ltd will hold a 24.13% stake in Jain Cord Industries, while the promoters’ shareholding will decline to 75.87% from 100% on a fully diluted basis. Jain Cord Industries reported revenue of Rs 783.33 crore in FY25, up from Rs 537.37 crore in FY24. Its profit reached Rs 19.97 crore in FY25 compared to Rs 12.52 crore in the previous fiscal.

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Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation

EntrackrEntrackr · 3m ago
Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation
Medial

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation Modular furniture maker Spacewood Furnishers has raised Rs 300 crore ($36 million) from A91 Partners at a valuation of Rs 1,200 crore ($135 million). The investment gives A91 Partners a minority stake and will support expansion, brand building, and operations. Spacewood plans to scale from 35 exclusive stores to 100 stores across India over the next few years. Founded by Kirit Joshi and Vivek Deshpande, Spacewood manufactures modular furniture for homes and offices. The company works through an omnichannel model with exclusive stores, a dealer network, and online platforms. The company runs a manufacturing facility of about 1 million sq. ft. with panel processing and sheet metal capabilities. Its dealer network covers over 500 partners across 150 towns and cities. In 2011, Nitin Sudame set up the office furniture division under Spacewood Office Solutions (SOS). SOS has supplied office furniture to over 1,000 corporates and developers. Spacewood targets group revenue of Rs 700 crore for FY26. It aims to grow 25–30% annually over the next five years with a focus on profitability. Its clients include Accenture, Capgemini, HDFC, Adani Group, and several educational institutions. Sumai Doors works with over 200 real estate developers, including Godrej Properties, DLF, Lodha, M3M, and Kolte Patil. Spacewood operates in the modular furniture market competing with brands such as Godrej Interio, IKEA, Homelane, Pepperfry, Wurfel, and Urban Ladder.

EV battery manufacturer Neuron Energy raises Rs 31 Cr in pre-Series B round

EntrackrEntrackr · 2m ago
EV battery manufacturer Neuron Energy raises Rs 31 Cr in pre-Series B round
Medial

EV battery manufacturer Neuron Energy has raised Rs 31 crore ($3.5 million) in a pre-Series B funding round co-led by Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, and Chona Family Office, along with participation from other family offices and HNI investors. The Mumbai-based company had previously raised Rs 20 crore in a Series A round co-led by the Chona Family and Capri Global Family Office in August last year. With this pre-Series B investment, Neuron Energy has raised a total of Rs 80 crore to date. The fresh capital will be used to expand its manufacturing capacity to 3 GWh and establish a fully automated, state-of-the-art facility for electric four-wheelers and buses. It will also be used to strengthen R&D capabilities, accelerate domestic growth, and expand the company’s footprint in international markets, Neuron Energy said in a press release. Founded in 2018 by Pratk Kamdar, Neuron Energy manufactures electric vehicle (EV) batteries and offers a wide range of mobility solutions powered by advanced lithium-ion technologies. The company is also actively developing next-generation sodium-ion solutions. It focuses on quality, innovation, and sustainability, aiming to drive the next wave of growth in India’s clean mobility sector. Neuron Energy said it has developed smart battery management systems and innovation-led products, and that its new facility reinforces its leadership in the two-wheeler EV battery segment. The company also plans a strategic entry into heavier vehicle categories. Neuron Energy added that it operates on a low-CapEx and low-OpEx business model, enabling strong operating leverage. The company claims to have been growing profitably year-on-year and is on track to achieve Rs 200 crore in revenue this year. It aspires to surpass Rs 900 crore in sales, with continued profitability, over the next few years.

Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation

EntrackrEntrackr · 11m ago
Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation
Medial

Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation Wealth management platform Waterfield Advisors is raising Rs 123 crore (approximately $14.6 million) in a new funding round, led by Jungle Ventures. The company’s board has approved a special resolution to issue 10,92,362 preference shares at an issue price of Rs 1,126 each, raising Rs 123 crore ($14.6 million), according to its regulatory filing accessed from the Registrar of Companies. Jungle Ventures is leading the funding round with an investment of Rs 100 crore. The remaining amount is being contributed by co-founder and CEO Soumya Rajan, along with individual investors, including Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh. The company plans to utilize the proceeds for growth, expansion, marketing, and general corporate purposes, as determined by the board. According to Entrackr estimates, Waterfield Advisors will be valued at approximately Rs 723 crore ($86 million) post-allotment. The company is reportedly raising Rs 130 crore in this round. Founded in 2011 by Soumya Rajan, Waterfield Advisors is a fee-based multi-family office and wealth advisory firm, that ensures unbiased financial, investment, and succession planning services. Waterfield advisors had raised over $25 million in funding to date including $6 million from family offices, and ultra-high net worth individuals. According to the startup data intelligence platform TheKredible, Jungle Ventures will be the largest external stakeholder with 13.83%. Its co-founders Soumya Jain along with Sanjay Teli will cumulatively hold 40.07% of the company. Waterfield Advisors has recorded a 33.2% year-on-year increase in its revenue to Rs 45.7 crore in the fiscal year ended March 2024. Moreover, it managed to decrease losses by 9.5% to Rs 28.6 crore in FY24.

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