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Exclusive: Eduvanz secures bridge round at 35% lower valuation

EntrackrEntrackr · 6m ago
Exclusive: Eduvanz secures bridge round at 35% lower valuation
Medial

Exclusive: Eduvanz secures bridge round at 35% lower valuation Education loan provider Eduvanz has secured Rs 25.52 crore in a bridge funding round co-led by Juvo Ventures and Capria Fund, with additional participation from Peak XV and Unitus Ventures. Eduvanz's board has approved a special resolution to issue 26,405 preference shares at an issue price of Rs 9,667 each, raising Rs 25.52 crore, according to a regulatory filing accessed from the RoC. Capria Fund and Juvo Ventures contributed Rs 8.65 crore and Rs 8.57 crore, respectively, while Peak XV and Unitus Ventures invested Rs 4.28 crore and Rs 4 crore. According to the filings, the newly raised funds will be utilized for working capital, product development, and marketing initiatives. Entrackr estimates Eduvanz's post-allotment valuation at approximately Rs 551 crore, reflecting a 35% decline from its last extended Series B round, where the company was valued at Rs 850 crore. Eduvanz provides loans to students to finance their school, coaching, and test prep fees. Salaried and self-employed individuals can also seek loans from it to fund their up-skilling expenses. After the bridge round, Peak XV Partners will hold a 31.72% stake in the company, while Juvo Ventures and Capria Fund will own 4.89% and 3.14%, respectively. The new funding is coming after a gap of more than two years for Eduvanz. In December 2022, it scooped up $12.6 million in its extended Series B round from new and existing backers. Entrackr exclusively reported the development. Eduvanz competes with well-funded firms such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Auxilo.

Setting a new standard in startup investment: Turbostart launches TS Bridge on its fifth anniversary

Economic TimesEconomic Times · 9m ago
Setting a new standard in startup investment: Turbostart launches TS Bridge on its fifth anniversary
Medial

Turbostart, a startup ecosystem platform, has launched TS Bridge, a platform that connects investors with vetted startups. TS Bridge offers two investment categories, Scout and Rise, to cater to different growth stages of startups. Turbostart's five Centres of Excellence (COEs) in technology, marketing, sales, design, and strategy provide support to portfolio companies. The launch event included discussions on fostering innovation and entrepreneurship in Karnataka. TS Bridge aims to transform angel investing by providing a co-investment platform with comprehensive due diligence reports and real-time portfolio tracking. It aims to create a more transparent and accessible startup investment ecosystem.

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