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Exclusive: Isprava raises Rs 250 Cr debt

EntrackrEntrackr · 2m ago
Exclusive: Isprava raises Rs 250 Cr debt
Medial

Isprava Group, a luxury home development and rental firm, raises Rs 250 crore (approximately $28.4 million) in debt from Singapore-based Luxe Opco Holdings. This marks the company’s first funding in nearly three years, following its last raise of Rs 160 crore in debt from Symphony International Holdings in January 2023. The board at Isprava Vesta Pvt Ltd (parent company of Isprava) has issued 11,95,071 compulsory convertible debentures (CCDs) at an issue price of Rs 2,091.93 each to raise the above mentioned amount, according to its filing with the Registrar of Companies (RoC). In addition, the company approved an investment of Rs 108 crore in Magnara Homes Private Limited through Optionally Convertible Debentures (OCDs), according to the filing. Isprava Group, founded in 2016 by Nibhrant Shah, Dhimaan Shah, and Rohan Lamba, builds and rents luxury homes in prime locations such as Goa, Alibaug, and Coonoor. In addition to developing and selling these properties, the company offers them as high-end vacation retreats with premium services like housekeeping and private chefs. Isprava claims to have delivered over 200 homes to date. According to startup data intelligence platform TheKredible, the Mumbai-based company has raised around $188 million to date through a mix of debt and equity. Its lead investors include the Shah Family Trust and Godrej. During the fiscal year ended March 2024, the company more than doubled its revenue to Rs 452 crore while reporting a profit of Rs 63 crore. It is yet to disclose its financials for FY25.

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Exclusive: Edu-fintech company Auxilo raises Rs 225 Cr debt

EntrackrEntrackr · 2m ago
Exclusive: Edu-fintech company Auxilo raises Rs 225 Cr debt
Medial

Exclusive: Edu-fintech company Auxilo raises Rs 225 Cr debt Auxilo, an education-focused non-banking financial company (NBFC), has secured Rs 225 crore (around $25.5 million) in debt funding from Neo Group, Nuvama Wealth, Dezerv, and The South Indian Bank. Earlier this year in February, Motilal Oswal invested Rs 50 crore in Auxilo through a debt round, as exclusively reported by Entrackr. The Auxilo’s board has issued 22,500 non-convertible debentures (NCDs) at a face value of Rs 1,00,000 each to raise the above-mentioned sum, according to its filing with the Registrar of Companies (RoC). Neo Group led the debt round with a Rs 100 crore ($11.36 million) investment, while Nuvama Wealth and Dezerv contributed Rs 50 crore each, and The South Indian Bank added Rs 25 crore. The debentures carry an interest rate of 9.7% per annum with a three-year tenure, while those issued to The South Indian Bank come at a 10% annual interest rate. Founded in 2016, Auxilo provides education loans to students for higher studies in India and abroad and to educational institutes for infrastructure modernization. Its educational loans include all the expenses related to the course, including classroom expenditures, pre-visa approvals, and airfares. For the fiscal year ended March 2025, Auxilo’s operating revenue rose nearly 50% to Rs 528 crore from Rs 357 crore in FY24. During the same period, the company’s profit surged 62% to Rs 112 crore.

Wint Wealth raises Rs 250 Cr in Series B round

EntrackrEntrackr · 21d ago
Wint Wealth raises Rs 250 Cr in Series B round
Medial

Wint Wealth raises Rs 250 Cr in Series B round Debt investment platform Wint Wealth has raised Rs 250 crore (nearly $28 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from existing investors including Eight Roads Ventures, 3one4 Capital, Arkham Ventures, and Rainmatter. Last month, Entrackr had exclusively reported on the company’s Series B round and valuation. Prior to this round, Wint Wealth had raised about $22 million (Rs 173 crore) from investors including Eight Roads Ventures, Zerodha, 3one4 Capital, and Unitary Fund. The company last raised a $17 million Series A round. The proceeds will be used to scale the platform, expand product offerings, and strengthen its credit and compliance infrastructure. Wint Wealth is also expected to deepen partnerships with issuers and improve distribution of fixed-income products to retail investors. Founded in 2020, Wint Wealth allows retail investors to invest in fixed-income products such as corporate bonds, securitized debt instruments, and non-convertible debentures (NCDs) asset classes that were largely limited to institutional investors earlier. The firm operates as a SEBI-registered Online Bond Platform Provider, enabling individuals to access listed bonds digitally. The Bengaluru-based startup has been focusing on building a transparent and regulated marketplace for debt investments, as more retail investors look beyond equities and mutual funds for stable returns. Wint Wealth is yet to file its FY25 numbers. In FY24, the company posted Rs 17.2 crore operating revenue with a loss of Rs 18 crore. According to data compiled by Entrackr, Indian wealthtech startups raised over $634 million across 51 deals involving 39 startups during 2024 and 2025. However, the sector saw limited large-ticket rounds, with only six deals of $30 million or more.

Exclusive: StockGro secures Rs 50 Cr debt from Trifecta

EntrackrEntrackr · 5m ago
Exclusive: StockGro secures Rs 50 Cr debt from Trifecta
Medial

url: https://entrackr.com/exclusive/exclusive-stockgro-secures-rs-50-cr-debt-from-trifecta-9780883 Content: Social investment and stock market advisory platform StockGro raised Rs 50 crore ($5.7 million) in debt funding from its existing investor Trifecta Capital. This debt funding follows the Rs 205 crore ($25 million) raised in two tranches in January 2024 from Hindustan Media Ventures and Trifecta Capital. According to filings with the Registrar of Companies (RoC), StockGro’s board approved the issuance of 500 Series B non-convertible debentures at a face value of Rs 10 lakh each, raising Rs 50 crore from Trifecta Capital. Founded in 2020 by former venture capitalist Ajay Lakhotia, the Bengaluru-based StockGro is a fintech platform that simplifies stock market investing through SEBI-registered advisors, offering investment advisory, portfolio management, and educational resources to help users navigate the market. Recently, StockGro has launched Stoxo, India’s first AI-powered stock market research engine. It offers real-time, reliable insights to help retail investors make better decisions. According to startup data intelligence platform TheKredible, the BITCRAFT Ventures-backed company raised over $50 million in both debt and equity, including its $32 million Series A round raised in January 2022. While the company is yet to file its FY25 numbers, its revenue from operations fell 34% to Rs 86.5 crore in FY24 from Rs 131 crore in FY23. During the same period, losses surged 84% to Rs 101 crore.

BlackSoil NBFC raises over Rs 200 Cr debt

EntrackrEntrackr · 1y ago
BlackSoil NBFC raises over Rs 200 Cr debt
Medial

BlackSoil NBFC, the flagship arm of BlackSoil Group, has raised Rs 208 crore debt. The round witnessed participation from HNIs, UHNIs, Family Offices, banks, and NBFCs. According to BlackSoil, 60% of this funding came from new debt investors and its total debt raised to over Rs 1,570 crore as of June 30, 2024. The company had recently raised Rs 100 crore through a rights issue where all its investors participated in this round. BlackSoil is backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency and Mathew Cyriac-led Florintree Advisors. The company has expanded its lender network, including several banks and NBFCs, enhancing its borrowing capabilities. Co-founded in 2016 by Mohinder Pal Bansal & Ankur Bansal, it offers customized credit solutions to emerging corporates, financial institutions, NBFCs, and MSMEs across sectors. The group claims that it has solidified its position as a preferred lender for new-age economy businesses, employing a sector-agnostic approach and cash flow-focused underwriting methodology BlackSoil has 5 unicorns in its portfolio including Spinny, Upstox, MobiKwik and others. The most recent unicorn in their portfolio is Spinny which became a billion dollar valued company in 2021. BlackSoil maintains a diversified portfolio spanning a wide range of sectors, including fintech, agri-tech, B2B, consumer, healthcare, SaaS, and IoT. It has also expanded into emerging sectors like EV, quick commerce, hospitality, and online travel aggregators (OTA). Its noteworthy investments include ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, Curefoods, Celbal Technologies and JCB Salons. The Mumbai-based company says that it saw over 30% year-on-year growth in debt fundraise, having a network of nine banks & five NBFCs, and more than 250 HNI families.

Exclusive: Rebel Foods raises Rs 150 Cr debt from Alteria and InnoVen

EntrackrEntrackr · 4m ago
Exclusive: Rebel Foods raises Rs 150 Cr debt from Alteria and InnoVen
Medial

Exclusive: Rebel Foods raises Rs 150 Cr debt from Alteria and InnoVen Foodtech Unicorn Rebel Foods secured Rs 150 crore ($17 million) in debt funding from existing investors Alteria Capital and InnoVen Capital. The debt comes months after its $25 million funding from Qatar Investment Authority. According to its filing sourced from the Registrar of Companies (RoC), Rebel Foods’ board approved the allotment of 15,000 non-convertible debentures (NCDs) at a face value of Rs 1 lakh each to raise the above-mentioned amount. Alteria Capital invested Rs 90 crore ($10.2 million), while InnoVen Capital contributed Rs 60 crore ($6.8 million). Each debenture carries a coupon rate of 13.9% per annum with a tenure of three years, maturing on September 2, 2028. Rebel Foods declined to comment on the queries sent by Entrackr. Founded in 2011 as a quick-service restaurant, Rebel Foods has grown into one of the largest cloud kitchen operators, with over 450 kitchens across India, the MENA region, Indonesia, the UK, and 75 Indian cities. Its portfolio includes brands such as Faasos, Behrouz Biryani, Oven Story Pizza, Lunchbox, The Good Bowl, and Wendy’s, among others. In February this year, Rebel Foods announced that it had launched its 15-minute food delivery app, QuickiES. According to TheKredible, the Mumbai-based firm has raised approximately $780 million to date, including a $210 million Series G round led by Temasek, comprising a mix of primary and secondary stake. Rebel Foods’ revenue from operations grew to Rs 1,420 crore in FY24 as compared to Rs 1,195 crore in FY23. During the same period, the firm cut down its losses by over 42% to Rs 378 crore. It competes with Curefoods, EatClub, Biryani By Kilo, FreshMenu, Biryani Blues, Kitchens@, Bigspoon, and HOI Foods.

Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC

EntrackrEntrackr · 8m ago
Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC
Medial

Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC Sneaker brand Gully Labs has raised Rs 8.7 crore in a seed funding round — comprising Rs 7.6 crore in equity and Rs 1.1 crore in venture debt. The equity round was led by Zeropearl VC along with participation from Untitled Ventures, Atrium Ventures, and other prominent angel investors including Bounce co-founder & CEO Vivekananda Hallekere, Suhasini Sampath, Nishchay AG, Renee Cosmetics founder Ashutosh Valani, Anurag Ramadasan, and Rahul Seth, while Stride Ventures led the debt investment. Prior to this, the company had secured Rs 1.1 crore in equity during its pre-seed round in 2024. The fresh capital will be deployed towards diversifying the product mix, expanding sales channels, and opening physical retail stores, Gully Labs said in a press release. Co-founded in 2023 by Arjun Singh and Animesh Mishra, Gully Labs crafts handmade sneakers, blending premium materials with culturally rich design stories — from Phulkari-embroidered trainers to Onam-inspired silhouettes. Gully Labs sells its products through its website and in select partner stores across Indian metros. The company plans to build a larger production facility, broaden its product line across diverse sneaker styles, and deepen its reach across India and global markets. It also plans to launch exclusive retail outlets as part of its omni-channel strategy.

Isprava doubles its revenue in FY24 with hefty profits

EntrackrEntrackr · 1y ago
Isprava doubles its revenue in FY24 with hefty profits
Medial

Isprava Group, a luxury home development and rental firm, saw its revenue more than double in the fiscal year ending March 2024. The Mumbai-based company also achieved profitability, marking a notable turnaround. Isprava’s gross revenue from operations surged by 2.3X to Rs 452 crore in FY24 from Rs 196 crore in FY23, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Isprava Group builds and rents luxury homes in prime locations like Goa, Alibaug, and the Nilgiris. In addition to selling homes, they rent them as high-end vacation retreats with services like housekeeping and private chefs. The income from the real estate business accounted for 81.86% of the total operating revenue, which increased 89% to Rs 370 crore in FY24 from Rs 195 crore in FY23. The rest of the income comes from hospitality, which stood at Rs 74.5 crore in FY23. The company made an additional Rs 7 crore from interest income on investments which pushed its total revenue to Rs 458.5 crore in FY24. For the home developer firm, the cost of procurement which includes land, consumption of materials, and other construction costs formed 72% of its overall cost. In the line of scale, this cost surged 94% to Rs 299 crore in FY24 from Rs 154 crore in FY23. Its Employee benefit expenses rose by 3X to Rs 61.7 crore, while advertising costs doubled to Rs 14 crore. Other expenses added another Rs 37.3 crore. Its rent, legal, traveling, and other overheads took the total expenditure to Rs 412 crore in FY24 from Rs 206 crore in FY23. The impressive scale helped Isprava to turn profitable with a significant Rs 63 crore of profits in FY24, compared to a loss of Rs 7.5 crore in FY23. Its ROCE and EBITDA margin improved to 22.64% and 12.45% respectively with an expense-to-earning ratio of Rs 0.91. At the end of FY24, the company had a current asset worth Rs 446 crore including Rs 119 crore of cash and bank balance. Isprava has secured Rs 1,216.95 crore (over $150 million) in funding, including a Rs 160 crore round in January of the previous year. The Darshan Shah Family Trust holds nearly a 40% stake in the company. Prominent investors include the Nadir Godrej Family Office, Burman Family Office, and Symphony International Holdings.

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation

EntrackrEntrackr · 3m ago
Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation
Medial

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation Modular furniture maker Spacewood Furnishers has raised Rs 300 crore ($36 million) from A91 Partners at a valuation of Rs 1,200 crore ($135 million). The investment gives A91 Partners a minority stake and will support expansion, brand building, and operations. Spacewood plans to scale from 35 exclusive stores to 100 stores across India over the next few years. Founded by Kirit Joshi and Vivek Deshpande, Spacewood manufactures modular furniture for homes and offices. The company works through an omnichannel model with exclusive stores, a dealer network, and online platforms. The company runs a manufacturing facility of about 1 million sq. ft. with panel processing and sheet metal capabilities. Its dealer network covers over 500 partners across 150 towns and cities. In 2011, Nitin Sudame set up the office furniture division under Spacewood Office Solutions (SOS). SOS has supplied office furniture to over 1,000 corporates and developers. Spacewood targets group revenue of Rs 700 crore for FY26. It aims to grow 25–30% annually over the next five years with a focus on profitability. Its clients include Accenture, Capgemini, HDFC, Adani Group, and several educational institutions. Sumai Doors works with over 200 real estate developers, including Godrej Properties, DLF, Lodha, M3M, and Kolte Patil. Spacewood operates in the modular furniture market competing with brands such as Godrej Interio, IKEA, Homelane, Pepperfry, Wurfel, and Urban Ladder.

Metalbook raises Rs 25 Cr debt from Northern Arc

EntrackrEntrackr · 1y ago
Metalbook raises Rs 25 Cr debt from Northern Arc
Medial

Full-stack metal supply-chain platform Metalbook has raised Rs 25 crore or (approximately $3 million) from Northern Arc. This is the first debt financing for the Delhi-based company. In February 2024, it raised $15 million led by Rigel Capital in Series A round. Metalbook’s board passed a special resolution to issue 250 non-convertible debentures at a face value of Rs 10,00,000 each to raise the above-mentioned sum, its regulatory filing sourced from Registrar of companies (RoC) shows. Founded in 2021, Metalbook is a full stack platform which helps businesses including SMEs with procurement, inventory liquidation, logistics, and credit among others. It claims to work with over 500 manufacturers, dealers and suppliers such as ArcelorMittal Nippon Steel, Tata Steel and JSW across 16 countries. In August last year, Axilor had led a $5 million seed round in Metalbook. The Delhi-based company is yet to disclose FY23 numbers but its revenue from operations stood at Rs 85.39 crore in FY22. Its losses also increased to Rs 25.90 crore in the same period. At the time of its Series A round in February, Metalbook said that it’s anticipating to achieve an annualized revenue run rate of $200 million by the end of FY24.

Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures

EntrackrEntrackr · 1y ago
Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures
Medial

Small and medium enterprises focused digital lending platform Lendingkart has secured Rs 100 crore ($12 million) in debt and Rs 8 crore (nearly $1 million) in equity from Stride Ventures. This is the second major debt closure by the Ahmedabad-based firm in the past year. The board at Lendingkart has passed a board resolution to issue 10,000 non-convertible debentures and 454 Series D5 CCPS to raise Rs 108 crore or $13 million, its regulatory filing accessed from the RoC shows. As per the filings, the Temasek-backed company has raised Rs 318 crore ($38 million) in debt to date. Lendingkart will receive the debt fund in two tranches of Rs 50 crore ($6 million) each and it will carry a coupon rate of 14% per annum. According to the startup data intelligence platform TheKredible, the company has been valued at around $690 million post-allotment. Just last month, LendingKart raised $10 million through external commercial borrowing (ECBs) from a fund managed by BlueOrchard. As of now, Lenskart has mopped up Rs 1,050 crore ($126 million) in equity capital from investors like Fullerton, Bertelsmann, Mayfield India, Saama Capital, Sistema Asia and India Quotient. Lendingkart disburses loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSME business owners. As per its website, it has disbursed over Rs 18,700 crore to over 300,000 businesses present in 4,100 cities. Lendingkart performed well in FY23 as its revenue from operations grew by 33.4% to Rs 858 crore. Meanwhile, the firm also posted Rs 119 crore profit in the same period. It’s yet to file annual financial results for FY24. As per a media report, the company is planning for an initial public offering (IPO) by next year. Lenskart is targeting to cross Rs 10,000 crore in assets under management before going public.

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