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

News on Medial

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.

Related News

Exclusive: AstroTalk raises $9.5 Mn at a valuation of $300 Mn

EntrackrEntrackr · 1y ago
Exclusive: AstroTalk raises $9.5 Mn at a valuation of $300 Mn
Medial

Online astrology platform AstroTalk has raised Rs 78.3 crore or $9.5 million in an extension of its Series A round from existing investors Left Lane Capital and Elev8 Capital. The board at AstroTalk has passed a special resolution to issue 5,067 compulsory Convertible preference shares to raise Rs 78.3 crore or $9.5 million, its regulatory filing accessed from the RoC shows. Left Lane Capital pumped Rs 58.3 crore while Elev8 Capital participated with Rs 20 crore. This seems to be the tranche of a larger round. AstroTalk is reportedly in talks to raise $30 million. As per TheKredible’s estimates, the company has been valued at around Rs 2,478 crore or $300 million post-money which is a 33.3% increase from its last round. The valuation will go up with the flow of funds. AstroTalk has raised Rs 172 crore to date including Rs 166 crore or $20 million in its Series A round in February. Entrackr was the first to report the development. AstroTalk is a platform to consult astrologers via the internet, call, and chat and claims to have 13,000 astrologers, tarot readers, numerologists, and Vastu experts. The platform lets users connect with the aforementioned experts for future predictions related to marriage, love life, career, and health among others. Left Lane Capital baked firm had demonstrated strong financial performance in FY23 as its revenue grew 146% to Rs 283 crore. At the same time, AstroTalk’s profits spiked 41.7% to Rs 8.5 crore. As per the current average revenue run rate, the company is projected to end FY24 with Rs 650 crore in revenue and Rs 100 crore in profit. The company is yet to file its audited financial results for FY24. As per data compiled by TheKredible, astro and spiritual tech startups have raised around $25 million in the past 12 months. The notable names include Ustav App, DevDham, InstaAstro, AstroTalk, Vama, and Melooha also raised decent funding during the period. SriMandir’s parent company AppsForBharat is also in talks to raise $15 million in a new round. Entrackr exclusively reported the development last month.

Exclusive: Giva raises $12 Mn from Premji Invest in extended Series B

EntrackrEntrackr · 9m ago
Exclusive: Giva raises $12 Mn from Premji Invest in extended Series B
Medial

Omnichannel jewelry startup Giva has raised Rs 100 crore ($12 million approximately) in an extended Series B round from Premji Invest. With this, the company has marked its first fundraise in 2024. Giva’s board has passed a resolution to offer and issue 68,028 Series B1 compulsorily convertible preference shares (CCPS) at a price of Rs 14,700 per share to PI Opportunities Fund II (Premji Invest). This marks the third investment by Premji Invest in the Bengaluru-based Giva. The family office of Wipro founder Azim Premji had previously led a Rs 270 crore Series B round in Giva in July last year. According to TheKredible’s estimates, Giva has been valued at approximately Rs 2,000 crore. This appears to be part of an ongoing funding round, and with the infusion of additional capital, the company’s valuation is expected to adjust accordingly. Following the fresh capital, the company has raised over $60 million to date from the likes of Aditya Birla Venture, A91 Partners and others. Giva, which initially launched as an affordable jewelry brand, has since expanded its offerings to include gold jewelry and lab-grown diamonds. In addition to its website and app, the Ishendra Agarwal-led company now operates around 110 physical stores across the country. Giva’s revenue from operations saw a significant growth of 96.4%, reaching Rs 165 crore in FY23. However, the company’s expenditure doubled, rising to Rs 212 crore in FY23. This sharp increase in costs led to a 2.36X spike in its losses which widened to Rs 45 crore in FY23. The company has not disclosed its FY24 numbers officially. Of late, the omnichannel jewelry space has garnered significant investor attention. Lab-grown jewelry brand Aukera recently raised Rs 26.7 crore (approximately $3.2 million) in its Series A round, while Vermeil jewelry brand Trisu secured an undisclosed amount in pre-seed funding. Giva competes with several notable players: Melorra, Bluestone, CaratLane, and a range of other funded and family-led brands.

Exclusive: Kapiva raises $10 Mn from existing investors

EntrackrEntrackr · 9m ago
Exclusive: Kapiva raises $10 Mn from existing investors
Medial

Homegrown D2C ayurvedic nutrition brand Kapiva has raised Rs 83.5 crore (approximately $10 million) led by OrbiMed Asia with the participation of 3One4 Capital and Vertex Ventures. The board at Kapiva has passed a special resolution to issue 5,62,631 compulsory convertible preference shares to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies shows. OrbiMed Asia led the round with Rs 52.2 crore, while 3One4 Capital and Vertex Ventures participated with Rs 11.96 crore and Rs 19.33 crore, respectively. The fresh funding appears to be part of Kapiva’s Series C round, in which the firm is aiming to raise a total of Rs 250 crore. Entrackr exclusively reported about Kapiva’s Series C round in Nov 2022. With the fresh tranche, the firm has raised Rs 132 crore in the ongoing round. It had already raised Rs 48.75 crore ($6 million) in Series C from OrbiMed and other existing investors back in October 2022. Kapiva has also increased its ESOP size by adding 1,415,00 new employee stock, bringing the total ESOP pool to 4,47,741, separate filing shows. As per the Entrackr estimates, its ESOP pool size is now worth Rs 66 crore. Kapiva will use these funds for the expansion and development of the company. Kaviva has raised over $30 million to date and has notable investors including Jetty Ventures, Fireside, OrbiMed, 3One4Capital, and others. According to the startup data intelligence platform TheKredible, the company has been valued at around $80 million post-allotment. Founded in 2015, Kapiva is an ayurvedic nutrition brand that offers natural and organic health and skincare products for hair fall, weight loss, digestion, diabetes in the form of juices, tea, oils, shakes et al. During the fiscal year ended March 2023, Kaviva registered 87% year-on-year growth to Rs 116.48 crore with a loss standing at Rs 64.5 crore in the same period. Kapiva is yet to file its annual results for FY24. While the D2C ayurveda space is crowded with plenty of organized brands, Upakarma Ayurveda, and Dr. Vaidya’s, Varalife, among others are Kapiva’s notable competitors.

Two Point O Capital raises $6.3 Mn in seed round

EntrackrEntrackr · 9m 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.

Exclusive: Proptech startup HouseEazy raises $4 Mn in Series A

EntrackrEntrackr · 10m ago
Exclusive: Proptech startup HouseEazy raises $4 Mn in Series A
Medial

HouseEazy, an online marketplace for pre-owned homes, has raised Rs 33.5 crore (around $4 million) in Series A led by Chiratae Ventures Fund with participation from Veena Jindal, Antler Innovation Fund, and IA Growth Opportunities Fund. The board at HouseEazy has issued a total of 3,915 shares at a face value of Rs 10 and premium of Rs 85,666 on preferential basis and by way of private placement, the company’s regulatory filings with Registrar of Companies show. Chiratae Ventures has invested Rs 29.62 crore, whereas Antler Innovation Fund invested Rs 2.86 crore. IA Growth Opportunities Fund and Veena Jindal invested Rs 76.25 lakh and Rs 29 lakh respectively. As per startup data intelligence platform TheKredible, HouseEazy has reached a valuation of Rs 156 crore post money (over $18 million). The company may raise more funds in this round and the valuation will vary accordingly. In December 2023, HouseEazy raised $1 million in a seed round led by Antler and picked up $370,000 in pre seed funding in June 2022. Founded in 2021 by Tarun Sainani and Deepak Bhatia, HouseEazy is building a full-stack, data driven technology platform to provide the best prices and instant liquidity to sellers and title-checked, refurbished, ready-to-move-in homes to buyers. The Noida-based company says that it uses a proprietary machine-learning algorithm with over 1.25 million data points to provide real-time price offers, eliminating the need for multiple meetings & negotiations for sellers. In December, HouseEazy claimed that it reached an ARR of Rs 250 crore (GMV) while maintaining profitability. The firm expects to hit Rs 1,000 crore ARR by March 2025 from the NCR market alone. For the fiscal year ending March 2023 (FY23), HouseEazy registered Rs 2.78 crore in operating revenue with Rs 44 lakh in loss.

Exclusive: Niqo Robotics raises $9 Mn in a new round

EntrackrEntrackr · 1y ago
Exclusive: Niqo Robotics raises $9 Mn in a new round
Medial

Agritech robotics firm Niqo Robotics (formerly TartanSense) has raised Rs 74.7 crore or $9 million in a new round led by Brida Innovation Ventures. The fresh funding comes after a hiatus of three years for the Bengaluru-based company. The board of Niqo Robotics has passed a special resolution to issue 8,577 preference shares at a price of Rs 87,090 each to raise Rs 74.7 crore, its regulatory filing accessed from the Registrar of Companies shows. Bidra Innovation Ventures pumped in Rs 41.5 crore while exiting investor Omnivore Partners also subscribed to the round with Rs 33.2 crore. As per startup data intelligence platform TheKredible, the company has been valued at around Rs 290 crore or $35 million (post-money) Following the fresh proceeds, Omnivore Partners emerged as the largest external stakeholder with 25.7% followed by Brida Innovation and Blume Ventures which commanded 18% and 10.7%, respectively. Its sole founder Jaisimha Rao holds more than a quarter of the company. See TheKredible for the complete shareholding pattern. Founded in 2015 by Jaisimha Rao, Niqo Robotics specializes in crafting compact agricultural robots empowered with AI-driven computer vision technology which claims to reduce costs and increase profitability. The company announced its rebranding to Niqo Robotics in March last year. Niqo Robotics has raised $16 million to date including its $5 million in Series A round from FMC, Omnivore, and Blume Ventures in August 2021. The firm also scored a $2 million Seed round in 2019. While the company would disclose its FY24 numbers later this year, the nine-year-old firm’s Indian entity largely remained in pre-revenue stage with a revenue of only Rs 1.3 crore during FY23. At the same time, its losses spiked twofolds to Rs 9.8 crore in the fiscal year ending March 2023.

Exclusive: Miko raises fresh capital at over $200 Mn valuation

EntrackrEntrackr · 10m ago
Exclusive: Miko raises fresh capital at over $200 Mn valuation
Medial

Robotics firm Miko, a product of Emotix, has raised Rs 20.5 crore (approximately $2.5 million) in a new round from a group of angel investors. This fresh equity infusion comes after a two-year hiatus for the Mumbai-based company. The board at Miko has passed a special resolution to issue 679 Series C CCPS at an issue price of Rs 3,02,695 each to raise Rs 20.55 crore or $2.5 million, its regulatory filing accessed from the Registrar of Companies shows. Moneycrew Fintech injected Rs 4.5 crore while the rest of the sum was poured in by angel investors including Amrapali B Doshi, Sanjiv Sarita, Amit Jain, Satyam Sinha, Inderjit Kaur Arora, and others. According to TheKredible’s estimates, the company has been valued at around Rs 1,711 crore or $206 million post-allotment. This is a 2.3X jump in the valuation as compared to its last equity round. Miko creates emotionally intelligent robots that leverage artificial intelligence and the Internet of Things (IoT) in developing its flagship brands Miko, Miko 2 and Miko 3. After the success of its first-generation robots, the company launched an advanced version that uses voice-recognition technology to see, hear, sense, express, talk, and recognize faces. Miko has raised over $60 million to date including its $29 million Series B round led by Ivycap Ventures in 2021. According to the startup data intelligence platform TheKredible, prior to this round Chiratae Ventures was the largest external stakeholder with 13.77% followed by IvyCap Ventures with 13%. See TheKredible for the complete shareholding pattern. The Chiratae-backed startup showcased impressive 2.3X growth to Rs 225 crore in FY23 from Rs 95 crore in FY22. However, the bottom of the company stood at Rs 108 crore in FY23. Miko is yet to file annual results for FY24.

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