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

News on Medial

Related News

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 · 10m 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.

Exclusive: Toothsi-parent makeO to acquire Apple Dental

EntrackrEntrackr · 15d ago
Exclusive: Toothsi-parent makeO to acquire Apple Dental
Medial

Exclusive: Toothsi-parent makeO to acquire Apple Dental MakeO, the parent of dental tech startup Toothsi and skincare brand Skinnsi, is set to acquire Andhra Pradesh-based Apple Oral and Dental Pvt Ltd (Apple Dental), according to regulatory filings reviewed by Entrackr. As per its filing with the Registrar of Companies (RoC), Toothsi’s parent, MakeO, will acquire 100% equity in Apple Dental for a total consideration of Rs 10.98 crore through a mix of cash and stock. Apple Dental will operate as a wholly owned subsidiary of MakeO. In addition, MakeO will extend a loan of Rs 1.5 crore to Apple Dental at an interest rate of up to 13%. Apple Dental operates a chain of dental clinics across 20 locations in Andhra Pradesh and Telangana. This acquisition comes as the company seeks to expand its offline presence beyond metro cities. Queries sent to MakeO remained unanswered at the time of publication. Recently, the Anushka Sharma and Virat Kohli-backed company raised Rs 100 crore (approximately $12 million) from its existing investors, including Siddharth Shah (Co-founder & CEO of PharmEasy), 360 One, Eight Roads Ventures, Paramark Ventures, and others. Founded in 2018 by Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kal, MakeO began as the aligner brand Toothsi. In September 2022, it merged its flagship brands, Toothsi and Skinnsi to launch MakeO, offering dental, skin, and hair treatment solutions under a single platform. According to startup data intelligence platform TheKredible, the Mumbai-based company has raised over $100 million to date including $40 million raised in Series C round in May 2022. While the company has not yet disclosed its FY25 figures, its operating revenue in FY24 stood at Rs 179 crore, while losses narrowed by 32% to Rs 150 crore during the same period.

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