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Exclusive: Healthtech startup Dozee to raise $10 Mn in debt

EntrackrEntrackr · 10d ago
Exclusive: Healthtech startup Dozee to raise $10 Mn in debt
Medial

Healthtech startup Dozee is set to raise $10 million (Rs 86 crore) in debt funding from Stockhausen International Pte Ltd, its second debt infusion in four months after a $7 million investment in March this year. The board at Dozee passed a resolution to offer 7,545 Series B optionally convertible debentures at a face value of Rs 1,14,074 each to raise the aforementioned amount, according to its regulatory filing with the Registrar of Companies (RoC). The proceeds from this funding will be used for business operations, development, and lending to subsidiaries outside India, the filing added. Founded in 2015, Dozee provides remote health monitoring solutions through devices that track heart health, respiration, sleep quality, and stress levels. Dozee’s offerings include Shravan, an AI-powered device for early hearing screening and rehabilitation, and smart mat, a contactless device placed under a mattress to monitor vital signs like heart rate, respiration, stress, and sleep patterns. Dozee is one of the fastest-growing players in Remote Patient Monitoring (RPM) and Early Warning Systems (EWS), and has recently earned the CE Mark under the EU MDR 2017/745, a global benchmark for medical device safety and efficacy. According to startup data intelligence platform TheKredible, the Prime Venture Partners-backed company has raised around $38 million to date, including debt, from investors such as Yournest, 3One4 Capital, and Prime Venture Partners. While the firm is yet to report FY25’s numbers, it reported Rs 5 crore in operating revenue for FY24. The Bengaluru-based company narrowed losses by nearly 20% to Rs 68 crore from Rs 84.4 crore in FY23.

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Exclusive: BharatPe receives $10 Mn debt from Trifecta and InnoVen

EntrackrEntrackr · 1y ago
Exclusive: BharatPe receives $10 Mn debt from Trifecta and InnoVen
Medial

Fintech firm BharatPe has raised Rs 85 crore (approximately $10 million) in debt through non-convertible debentures. This is the second debt infusion in the Peak XV and Coatue-backed company in 2024. The board at BharatPe has issued 500 Series E1 debentures at Rs 10,00,000 each and 3,500 Series F1 debentures at Rs 1,00,00 each to raise Rs 85 crore, its regulatory filing with the Registrar of Companies shows. Trifecta Venture debt pumped in Rs 50 crore while Innoven Capital participated with Rs 35 crore, shows filing. As per Entrackr’s sources, BharatPe completed its $100 million debt round early this year. InnoVen Capital was expected to pump in $60-70 million in BharatPe whereas Credit Saison invested the remaining capital in the Delhi-based company’s NBFC arm Trillion Loans. Debt from Innoven could be a part of the above amount. We have reached out to BharatPe to confirm if their investment is new or existing. Sources close to the fintech firm added that BharatPe chose debt as it is close to break-even and didn’t want to dilute equity. BharatPe raised its last equity round in August 2021 when it also checked into the unicorn club. It has raised over $650 million in equity and debt from the likes of Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others. According to TheArch report, BharatPe’s operating revenue increased by 16%, reaching Rs 1,370 crore in FY24, up from Rs 1,029 crore in FY23. The six-year-old company also reported a 70% reduction in losses, bringing them down to Rs 270 crore in the last fiscal year.

Exclusive: Slice concludes $30 Mn debt round from existing investor

EntrackrEntrackr · 1y ago
Exclusive: Slice concludes $30 Mn debt round from existing investor
Medial

Consumer lending and payments startup Slice has raised Rs 65 crore (nearly $8 million) in debt from Neo Markets. This is the second debt investment for the Bengaluru-based company this year. The board at Slice has passed a special resolution to issue 650 non-convertible debentures (NCD) at an issue price of Rs 10,00,000 each to raise Rs 65 crore, its regulatory filing accessed from the Registrar of companies (ROC) shows. The debt investment has a coupon rate of 15% with a tenure of 21 months, the filing further added. As per sources, this is the second tranche of its $30 million debt round. The company had raised Rs 170 crore or $20.5 million in debt from the same investors in June this year. Founded by Rajan Bajaj, Slice provides a physical and virtual card focused on millennials. It enables students and salaried professionals to buy collateral-free products and services online on estimated monthly installments (EMIs) through an app and helps them build credit scores. Slice has raised $340 million to date and was valued at over $1.5 billion during the Series C round in November 2021. As per data intelligence platform TheKredible, Gunosy Capital is the largest stakeholder in the company with a 14.84% stake. The company’s co-founder Rajan Bajaj holds 8.21% stake. The complete shareholding pattern can be checked here. In October 2023, Slice and North East Small Finance Bank (NESFB) announced their merger in a move to expand their financial accessibility. Initially, Slice acquired a 5% stake in the Guwahati-headquartered bank for about $3.42 million in March 2022. The Blume Ventures-backed company has demonstrated 3X growth, reaching a scale of Rs 843 crore during the fiscal year ending March 2023 with loss growing 59.8% to Rs 406 crore. The company is yet to file its annual results for FY24.

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