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Exclusive: Kapiva raises $10 Mn from existing investors

EntrackrEntrackr · 11m 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.

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Exclusive: Pristyn Care raises $4 Mn to scale in-house hospitals, preps for larger round

EntrackrEntrackr · 1m ago
Exclusive: Pristyn Care raises $4 Mn to scale in-house hospitals, preps for larger round
Medial

Pristyn Care, a surgery-focused hospital chain, has raised $4 million as part of a larger funding round to support its expansion of owned hospitals, according to company sources and internal documents seen by Entrackr. Entrackr has also gone through its regulatory filing, where the company board has passed a resolution to approve the issue of 34,280 Series E1 CCPS at an issue price of 10,038.16 each to raise the aforementioned sum. Existing investors Peak XV Partners and Hummingbird Ventures are investing in this fresh investment. The company was reportedly in talks to raise $100 million from new and existing investors. Pristyn Care has completed this infusion at an effective share price of Rs 10,038, the same as the last round, indicating the valuation remains unchanged. Pristyn Care has also increased its authorised capital to facilitate future fundraises and strengthen its financial foundation for continued growth. In the last four months, the company has opened eight owned hospitals. Pristyn now operates roughly 200,000 sq ft with about 450 beds. According to the company, more than 10 additional hospitals are slated to launch in the coming months, and the footprint is expected to double by December 2025. According to startup data intelligence platform TheKredible, Pristyn Care has raised approximately $180 million to date from investors including Peak XV Partners, Tiger Global, Epiq Capital, and others. In the fiscal year ended March 2024, the firm recorded over 30% growth in operating revenue to Rs 600 crore, while its losses remained steady at Rs 381 crore during the same period.

Exclusive: Agrostar raises fresh funds from existing investors

EntrackrEntrackr · 4m ago
Exclusive: Agrostar raises fresh funds from existing investors
Medial

Exclusive: Agrostar raises fresh funds from existing investors Agritech startup Agrostar has raised Rs 57.65 crore in a fresh round from existing investors. This is the first round of investment for the Accel-backed company this year. Agritech startup Agrostar has raised Rs 57.65 crore or $6.7 million in a fresh round from existing investors. This is the first round of investment for the Accel-backed company this year. The board at Agrostar has passed a special resolution to issue 1,45,397 compulsory convertible preference shares at an issue price of Rs 3,965 each to raise Rs 57.65 crore, its regulatory filing accessed from the Registrar of Companies shows. Existing investors Accel India, Evolvence, Chiratae Ventures, Hero Enterprises, Bertelsmann, and Aavishkaar India participated during the round. According to Entrackr’s estimates, the company has been valued at around $293 million post-allotment. Agrostar operates as a comprehensive platform catering to farmers, offering both online and offline channels for farm advisory solutions and agricultural inputs. Agrostar generates revenue from the sale of agri inputs. Agrostar has raised over $110 million to date, including $70 million Series D led by Schroders. According to the startup data intelligence platform TheKredible, before this round, Chiratae Ventures was the largest external stakeholder, followed by Aavishkaar Capital, Accel, and Bertelsmann. The company last filed its financial statements in FY22, where it recorded 88.4% year-on-year growth to Rs 260 with the loss of Rs 142 crore in the same period. It competes with Ninjacart, DeHaat, and Waycool. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Exclusive: Onsurity raises over $26 Mn in new round led by Creaegis

EntrackrEntrackr · 11m ago
Exclusive: Onsurity raises over $26 Mn in new round led by Creaegis
Medial

Employee healthcare platform Onsurity has raised Rs 219 crore or $26.4 million in a new round led by Creaegis, with the participation of existing investors Nexus Venture Partners and Quona Capital. The board at Onsurity has passed a special resolution to issue 10 equity and 6,302 series B1 CCPs at an issue price of Rs 3,48,089 each to raise Rs 219 crore or $26.4 million, its regulatory filing accessed for the Registrar of Companies (RoC) shows. Creaegis spearheaded the round with Rs 176.4 crore while existing investors Nexus Ventures and Quona Capital injected Rs 31.4 crore and Rs 11.9 crore, respectively. The company will use proceeds for growth, expansion, working capital requirements and general corporate purposes, as decided by the board. According to the startup data intelligence platform TheKredible, OnSurity has been valued at around Rs 1,032 crore or $124 million post-allotment. Following the fresh proceeds, Creaegis will hold 17.10% of the company while Nexus and Quona will command 28.22% and 12.82%, respectively. Founded in 2020 by Yogesh Agarwal and Kulin Shah, Onsurity offers subscription-based services that its customers can purchase and offer it to their full-time employees, contractors, interns and consultants. The company, through its subsidiary, offers business products including cyber insurance, D&O liability insurance, and commercial general liability insurance, among others. Onsurity has raised over $66 million to date including $24 million Series B round in October last year, and $16 million Series A in August 2021. Creaegis, the lead investor, recently closed its inaugural fund of about $426 million to support Indian startups. Its investment portfolio includes companies like Third Wave Coffee, Doceree, Medikabazaar, Zopper, and Kale Logistics.

Exclusive: Ather Energy raises $34.5 Mn; co-founders invest over $10 Mn

EntrackrEntrackr · 1y ago
Exclusive: Ather Energy raises $34.5 Mn; co-founders invest over $10 Mn
Medial

Electric scooter maker Ather Energy has raised Rs 286 crore or $34.5 million through debt and equity. This is the first round of investment for the Bengaluru-based company this year. Stride Ventures invested Rs 200 crore via debentures while co-founders of the company Tarun Sanjay Mehta and Swapnil Babanlal Jain pumped in Rs 43.28 crore each via Series F preference shares, its regulatory filings accessed from the Registrar of Companies show. Ather Energy raised its second-largest funding worth Rs 900 crore ($108 million) from existing investors Hero MotoCorp and GIC through right issue in December last year. In the same month, Hero MotoCorp also acquired an additional 3% stake in Ather for Rs 140 crore (approximately $16.8 million). Recently, a media report said that Ather is in talks to raise $95 million in a pre IPO round. Another report added that Ather’s existing backer Sachin Bansal has sold a significant portion of his stake in the company to Zerodha’s co-founder Nikhil Kamath. As per TheKredible, Ather was valued at $750 million during the Series E round in May 2022. However, it has not disclosed its valuation since then. It’s likely to get unicorn status in the upcoming round. Ather has raised around $450 million to date. According to the startup data intelligence platform TheKredible, Hero MotoCorp is the largest external stakeholder followed by Sachin Bansal, Caladium Investment, and Tiger Global. Ather’s revenue from operations surged 4.36X to Rs 1,784 crore in FY23 while its losses spiked 2.5X to Rs 864.5 crore in the same period. The company is yet to file its financial results for FY24. Electric two-wheelers saw a 50% drop in overall sales in April when compared to March. Ather Energy, which sold 17,000 units in March, saw 4,000 units sold in April. Ola Electric sold over 33,000 units, contributing about 50% to the overall sales in the last month.

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