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Exclusive: HyugaLife’s parent Pratech Brands raises $6.3 Mn in Seed round

EntrackrEntrackr · 1y ago
Exclusive: HyugaLife’s parent Pratech Brands raises $6.3 Mn in Seed round
Medial

Pratech Brands, a digital-first retailer and parent entity of HyugaLife, has raised Rs 52 crore or $6.3 million in a seed funding round led by Spring Marketing Capital and Stride Ventures. The round also saw participation from Peak XV Partners’ Surge Ventures among others. The board at Pratech Brands has passed a special resolution to issue 21,77,817 Seed compulsory convertible preference shares (Seed CCPS) at an issue price of Rs 168.15 each for a consideration of Rs 36.62 crore or $4.4 million. In a separate resolution, the company also issued 29,735 partly paid CCPS at Rs 168.15 per share and 1,500 non-convertible debentures (NCDs) Rs 1,00,000 each to Stride Ventures to raise Rs 15.5 crore, the company’s regulatory filings with the Registrar of Companies show. Stride Venture and Spring Marketing Capital led the funding round with Rs 15.5 crore and Rs 12.5 crore investments, respectively. This was followed by Surge Ventures which infused Rs 10 crore. Oorumane Mercantile, Patni Wealth Advisors, Eco Power Systems, AS Desaai Consultants, AMD Consultancy Services and individuals namely Nihir Parikh, Dhaval Parikh, Sandhya Shah, Rohan Mehta, Suhagi Parikh, Nimish Shah, Prakash Shah, Nitesh Jha, Simraan Teckchandani, Priya Ujgaonkar and Karan Jindal invested the remaining sum. As per startup intelligence platform TheKredible’s estimates, Pratech Brands has been valued at around Rs 160 crore or a little over $19 million. To date, the company has raised around $9.3 million. Note: The information is based on the three separate regulatory filings filed in June, October and December 2023. Pratech Brands is a tech-first house of brands that focuses on products relating to home and health by uncovering consumer needs and building consumer brands. Its health and wellness brand HyugaLife recently raised $1 million from Stride Ventures, and Getvantage in January. The brand is also backed by Indian cricketer K L Rahul and actress Katrina Kaif. For context, HyugaLife operates under Hyuga Health & Wellness Private Limited and Hyuga Ecommerce Ventures Private Limited, the both entities are subsidiaries of Pratech Brands Private Limited. Additionally, Pratech Brands also owns Neesan Ventures and a natural healthcare brand for female hormones, Inaari. Following the fresh capital infusion, promoters of the company Neehar Modi, Sandhya Shah, Sachin Parikh, Shruti Parikh and Anvi Shah collectively own over 52% of the company. Surge Ventures owns an 18.6% stake while Spring Marketing Capital has a 9.4% stake in the company. For the complete shareholding pattern, click here. Pratech Brands’ revenue from operations grew to Rs 4.87 crore in FY23 from Rs 1.71 lakh in FY22. As per TheKredible, the company’s losses soared to Rs 25.39 crore during FY23 as compared to Rs 99 lakh in FY22.

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Culture Circle raises $2 Mn from Info Edge Ventures

EntrackrEntrackr · 10m ago
Culture Circle raises $2 Mn from Info Edge Ventures
Medial

Culture Circle, a marketplace for sneakers and streetwear, has raised $2 million in its seed round led by Info Edge Ventures, along with participation from angel investors. The proceeds will be used to expand its collection further, strengthen our authentication technology, and continue building the luxury fashion community. Founded in 2023 by Devansh Jain Nawal and Ackshay Jain, Culture Circle is a luxury e-commerce platform boasting a network of over 3,500 sellers and a catalog of 3.5 million listings. The platform specializes in premium products, including sneakers, streetwear, and high-end fashion items such as bags, blazers, backpacks, and cardholders. Culture Circle features offerings from iconic brands like Nike, Yeezy, Dior, Supreme, Common Projects, and Louis Vuitton, among others. Headquartered in Delhi NCR, the startup has recently ventured into six international markets—Qatar, Oman, the UAE, Singapore, the UK, and Thailand—through a pilot program aimed at global expansion. Through its proprietary SourceX platform, Culture Circle enables users to compare prices and access exclusive deals on brands like Nike, Adidas, Jordans, On, Yeezy, Supreme, Balenciaga, and Dior.

ShopClues co-founder Radhika Ghai’s startup kindlife.in raises $8 Mn in Series A

EntrackrEntrackr · 1y ago
ShopClues co-founder Radhika Ghai’s startup kindlife.in raises $8 Mn in Series A
Medial

Kindlife.in, a platform for beauty, wellness and health, has raised $8 million in its Series A round led by JB-Dooeun TK Fund and MIXI Global Investments, with participation from Kalaari Capital and some angel investors. Previously, Kindlife had raised $2.5 million in seed funding from Kalaari Capital, Titan Capital, Java Capital, and others in November 2021. This capital will enable Kindlife to build a strong connection between Korea, Japan, and India, the company said in a press release. Its community includes thousands of beauty creators who share recommendations and take a content-first approach, educating consumers on the latest K-beauty trends. Entrackr had exclusively reported about Kindlife’s launch back in September 2021. Founded by ShopClues co-founder Radhika Ghai, Vidit Jain, and Manasa Garemella, kindlife uses proprietary AI technology to help Gen Z consumers discover personalised skincare and wellness routines and products. The platform also provides exclusive and priority access to popular and trending global beauty brands, including Korean and Japanese brands. Capitalising on the surging popularity of K-beauty, fueled by the Hallyu wave, Kindlife aims to cater to India’s rapidly growing K-beauty market. In the ongoing calendar year, the firm plans to launch over 20 Korean and Japanese beauty brands on its platform.

Consuma raises $1.3 Mn in seed round led by Equirus InnovateX Fund

EntrackrEntrackr · 13d ago
Consuma raises $1.3 Mn in seed round led by Equirus InnovateX Fund
Medial

Consuma raises $1.3 Mn in seed round led by Equirus InnovateX Fund Consuma, a startup that aims to disrupt traditional research methods like surveys and focus-groups, has raised $1.3 million (about Rs 11.16 crore) in seed funding round led by Equirus InnovateX Fund, along with participation from prominent angel investors such as Abhishek Goyal, Mekin Maheshwari, Bhavik Dholakia, Harsh Shah, Arnav Kumar, Shiv Kapoor, Biswa Kalyan Rath, and several others. The Bengaluru-based startup had previously raised $200K in the same round from Expert DOJO and others. The proceeds will be allocated for technology development and market expansion - both domestically and globally, Consuma said in a press release. Launched in 2021 by Abhilash Madabhushi, Consuma is an AI startup that aims to revolutionize how brands conduct consumer research. By replacing traditional surveys and focus groups with AI-driven analysis of digital behaviour, Consuma enables brands to access faster, richer, and more cost-effective insights. “Consumers are changing faster than ever before, and brands need research methods that keep up with this rate of change. We are building technology to bring consumer research into the age of AI - driving differential insights in minutes, not months,” said Abhilash Madabhushi, founder of Consuma. According to Consuma, brands can perform research in 30 minutes instead of 2-3 months, at 1/10th the cost, all while analysing 1000x more data. In less than six months since its public launch, the company claims that it already works with over 35 global brands, including Godrej and Britannia.

Indya and FabAlley’s parent High Street Essentials raises $6 Mn

EntrackrEntrackr · 1y ago
Indya and FabAlley’s parent High Street Essentials raises $6 Mn
Medial

High Street Essentials (HSE), the parent company of women’s fashion brands Indya and FabAlley, has raised Rs 50 crore ($6 million) in equity and debt round led by Sangita Jindal, Chairperson of JSW Foundation. The round also saw participation from family offices of SRF Group, Krishna Bodanapu of Cyient Technologies and Timmy Sarna from Pure Home + Living. Earlier to this round, HSE had raisedRs 40 crore from Stride Ventures in May 2022. This proceeds will be used to enable Indya to undertake strategic business expansion of its premium occasion wear range “Weddings By Indya”, the company said in a press release. Established in 2012 by Shivani Poddar and Tanvi Malik, High Street Essentials has two women-focused brands – Indya and FabAlley. Indya specializes in offering ethnic clothing and accessories for women, whereas FabAlley caters to women’s Western apparel and loungewear needs. Indya has plans to expand its business presence across the country with 10 new wedding stores in this financial year. Indya is currently retailed through 12 exclusive brand outlets in 8 cities, and 150 large format retail outlets, including Lifestyle, Shoppers Stop, Centro and Ethnicity. Its global retail footprint continues to expand with a second store in Malaysia with plans to also open outlets in the USA and South Africa within the next 18 months. However, its largest volumes come from its international direct-to-consumer ecommerce business spanning more than 43 countries. According to startup data intelligence platform TheKredible, High Street has raised Rs 180 crore ($21.6 million) so far (excluding rhe current round) and was valued at Rs 700 crore ($84 million). High Street Essentials’ revenue from operations increased 17.8% to Rs 185 crore in FY23 from Rs 157 crore in FY22. Losses for the company remained constant at Rs 45 crore in FY23.

Two Point O Capital raises $6.3 Mn in seed round

EntrackrEntrackr · 1y ago
Two Point O Capital raises $6.3 Mn in seed round
Medial

Climate financing platform Two Point O Capital has raised $6.3 million in its seed round led by Omnivore, with participation from Multiply Ventures, RTP Global, GrowX, Spectrum Impact, and a group of marquee angels. The proceeds will be used to improve its tech-enabled platform for sourcing, financing, and monitoring distributed projects in clean energy sectors, and to hire a top-tier team. Founded in 2024 by Archit Mehrotra, Karan Bhutani, Manya Ranjan, and Shashidhar Reddy, Two Point O Capital offers flexible financing solutions for distributed clean energy projects in the commercial and industrial sectors. The Gurugram-based startup focuses on solar rooftops, energy efficiency, and wastewater treatment, offering leasing and capex financing options. It also plans to collaborate with various operating and financial partners to develop and manage a high-quality portfolio on a platform.

Fragaria Fruits raises $2 Mn in seed round led by WEH Ventures

EntrackrEntrackr · 13d ago
Fragaria Fruits raises $2 Mn in seed round led by WEH Ventures
Medial

Fragaria Fruits raises $2 Mn in seed round led by WEH Ventures Farming company Fragaria Fruits has raised $2 million in a seed funding round led by WEH Ventures, along with participation from Rainmatter, Spiral Ventures, and angel investors such as Sashi Kumar. The startup had previously raised Rs 1.5 crore in a pre-seed funding round. The fresh funds will be utilized to scale its operations in Bengaluru, expand its premium fruit portfolio to include blueberries and raspberries, and provide a year-round supply of high-quality, sustainable produce to the Indian market, Fragaria said in a press release. Co-founded in 2024 by Harish Varadharajan, Timothy Chad Van Niekerk, and Damian López-Salazar, Fragaria Fruits aspires to address a critical gap in India’s fruit industry: the lack of consistently high-quality, fresh fruit available year-round. It aims to redefine the fruit-eating experience for Indian consumers by delivering premium, sustainably grown produce using world-class farming techniques. According to the Chennai-based startup, its flagship brand, Oh! Fruits, offers European strawberries grown in Chennai using advanced vertical farming technology, which are twice as sweet as conventional Indian varieties, pesticide-free, and have a shelf life up to three times longer than typical market options. The company’s commitment to sustainability is reflected in its water recycling systems, solar power integration, and efforts to reduce the environmental footprint of farming while maintaining affordability. By using Controlled Environmental Agriculture (CEA) and vertical farming, Fragaria has built a sustainable and scalable model to grow premium strawberries year-round. It plans to expand production in Bengaluru, increasing daily output from 2–3 kg to 120–150 kg. The startup doesn't have any local brands to compete with for fruits, but there are limited imported fruit brands in India, such as Driscoll’s (berries), Zespri (kiwi), and Rockit (apples).

Mosaic Wellness raises $20 Mn at $400 Mn valuation

EntrackrEntrackr · 6m ago
Mosaic Wellness raises $20 Mn at $400 Mn valuation
Medial

Exclusive: Mosaic Wellness raises $20 Mn at $400 Mn valuation Mosaic Wellness, the parent firm of Man Matters, Boywise, and Little Joys, has raised Rs 175 crore (approximately $20 million) from Think Investment in a new round. The board at Mosaic Wellness has passed a special resolution to issue 16,279 compulsory convertible preference shares at an issue price of Rs 1,07,500 each to raise Rs 175 crore or $20 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The filings further noted that the company plans to utilize the fresh capital for growth, expansion, and general corporate purposes. According to Entrackr estimates, the company has been valued at around $400 million post-allotment. Following the fresh proceeds, Think Investment will hold 5.04% of the company. Founded in 2020 by Revant Bhate and Dhyanesh Shah, Mosaic Wellness is a digital-first consumer health platform that runs three separate brands for men, women, and kids. Its flagship brand ManMatters offers solutions across derma, sexual health, hygiene, and nutrition. Mosaic Wellness has raised over $65 million to date, including its $24 million Series A led by Peak XV along with existing investors Elevation Capital and Matrix Partners India in 2021. As per the startup data intelligence platform TheKredible, Elevation Capital is the largest external stakeholder, followed by Peak XV and Matrix Partners. The company has recorded a 61.7% year-on-year growth to Rs 333 crore during the fiscal year ended March 2024, compared to Rs 206 crore in FY23. Moreover, the firm managed to control its losses by 37.1% to Rs 39 crore in the same period.

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