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Exclusive: Kiran Mazumdar Shaw’s Immuneel Therapeutics raises Rs 100 Cr

EntrackrEntrackr · 1y ago
Exclusive: Kiran Mazumdar Shaw’s Immuneel Therapeutics raises Rs 100 Cr
Medial

Cancer focused biotech startup Immuneel Therapeutics has raised Rs 100 crore or $12 million in the extension of Series A round from Taiba Middle East FZ LLC. This is the third round of investment for the Bengaluru-based company since its inception in 2018. The board at Immuneel Therapeutic has passed a special resolution to issue 1o equity shares and 8,164 Series A1 CCPS at an issue price of Rs 1,22,330 each to raise Rs 100 crore or $12 million, its regulatory filing accessed from the Registrar of Companies show. The company will use these investments for growth and expansion as decided by the board, the filings further added. As per TheKredible’s estimates, the firm has been valued at around Rs 587 crore or $71 million (post-allotment). Following the fresh proceeds, Taiba Middle East FZ holds a 17% stake in Immuneel Therapeutics. The round appears to be ongoing and it may raise more funds. The company has raised around $40 million to date including its $15 million Series A financing co-led by Eight Roads Ventures, True North, and F-Prime Capital in 2022. Founded by Biocon founder Kiran Mazumdar Shaw, oncologist and Pulitzer winner — Siddhartha Mukherjee and Kush Parwar, Immuneel Therapeutics is an Indian clinical-stage startup which is engaged in developing cell and gene therapies for cancer patients. It’s also working on developing its own pipeline of chimeric antigen receptor T-cell (CAR-T) therapies and other cellular immunotherapies for management and treatment of cancer. The firm claims to offer therapies at one-third of the costs borne for gene therapies in America. While the company is yet to file its annual statements for FY24, six-year-old Immuneel Therapeutics remained at a pre-revenue stage in FY23. Its losses stood at Rs 39 crore in the fiscal year ending March 2023.

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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.

Avammune Therapeutics raises $12 Mn in Series A funding round

EntrackrEntrackr · 9m ago
Avammune Therapeutics raises $12 Mn in Series A funding round
Medial

Avammune Therapeutics and its subsidiary, Avammune Lifesciences, have secured $12 million (around Rs 100 crore) in a Series A financing round co-led by Capital 2B, Shastra VC, and Kotak Lifesciences Fund I, a fund managed by Kotak Alternate Asset Managers, with participation from IvyCap Ventures alongside existing investor 1Crowd. The proceeds will be utilized to accelerate its proprietary pipeline, which targets the innate immune system, to develop orally bioavailable small molecules and support the clinical development of lead candidate AVA-NP-695 (an ENPP1 inhibitor), Avammune Therapeutics said in a press release. Co-founded in 2020 by Arun B. Papaiah, Srinivasan Namala, and Aditya Kulkarni, Avammune Therapeutics is a biopharmaceutical company discovering small molecule medicines that target the innate immune system for the treatment of cancer and autoimmune disorders. Its pipeline targets Osteosarcoma, Ewing’s Sarcoma, Triple-Negative Breast Cancer, GI cancers, and autoimmune disorders. According to Avammune, its lead asset is an ENPP1 inhibitor that has demonstrated strong anti-tumor efficacy in several preclinical models of cancer and also in veterinary cancer patients in “compassionate use” settings. AVA-ADR is a potential first-in-class ADAR1 p150 inhibitor and one of the only ADAR1 inhibitors in the landscape to demonstrate in vivo efficacy. According to market research, the global immuno-oncology market is about $100 billion and is rapidly growing at a CAGR of 17%.

Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation

EntrackrEntrackr · 11m ago
Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation
Medial

Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation Wealth management platform Waterfield Advisors is raising Rs 123 crore (approximately $14.6 million) in a new funding round, led by Jungle Ventures. The company’s board has approved a special resolution to issue 10,92,362 preference shares at an issue price of Rs 1,126 each, raising Rs 123 crore ($14.6 million), according to its regulatory filing accessed from the Registrar of Companies. Jungle Ventures is leading the funding round with an investment of Rs 100 crore. The remaining amount is being contributed by co-founder and CEO Soumya Rajan, along with individual investors, including Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh. The company plans to utilize the proceeds for growth, expansion, marketing, and general corporate purposes, as determined by the board. According to Entrackr estimates, Waterfield Advisors will be valued at approximately Rs 723 crore ($86 million) post-allotment. The company is reportedly raising Rs 130 crore in this round. Founded in 2011 by Soumya Rajan, Waterfield Advisors is a fee-based multi-family office and wealth advisory firm, that ensures unbiased financial, investment, and succession planning services. Waterfield advisors had raised over $25 million in funding to date including $6 million from family offices, and ultra-high net worth individuals. According to the startup data intelligence platform TheKredible, Jungle Ventures will be the largest external stakeholder with 13.83%. Its co-founders Soumya Jain along with Sanjay Teli will cumulatively hold 40.07% of the company. Waterfield Advisors has recorded a 33.2% year-on-year increase in its revenue to Rs 45.7 crore in the fiscal year ended March 2024. Moreover, it managed to decrease losses by 9.5% to Rs 28.6 crore in FY24.

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.

Exclusive: Fabric maker Jain Cord raises Rs 200 Cr in Series A from Lohia family office

EntrackrEntrackr · 1d ago
Exclusive: Fabric maker Jain Cord raises Rs 200 Cr in Series A from Lohia family office
Medial

Exclusive: Fabric maker Jain Cord raises Rs 200 Cr in Series A from Lohia family office Jain Cord, a Gurugram-based manufacturer of cotton and linen fabrics, has raised its first institutional funding of Rs 200 crore in a Series A round from the Lohia Family Office, operated under Indorama Capital Holdings Pte. Ltd. Jain Cord Industries’ board has issued 31,79,550 compulsorily convertible preference shares (CCPS) and 100 equity shares at an issue price of Rs 629 per share to raise a total of Rs 200 crore, according to its regulatory filing with the Registrar of Companies (RoC). According to Entrackr’s estimates, Jain Cord Industries is valued at around Rs 829 crore ($94.75 million) on a post-money basis. The fresh funds will be utilised for working capital requirements, repayment of unsecured borrowings, capital expenditure, and business expansion, along with supporting general operating expenses, as per the RoC filing. Founded in 1960, Jain Cord Industries is a vertically integrated textile manufacturer engaged in the production and processing of fabrics and garments. The company offers end-to-end capabilities across weaving, knitting, dyeing, finishing, and garment manufacturing, supported by modern production technologies and process-driven operations. Jain Cord is known for its woven fabrics, including corduroy and velveteen, and serves domestic and international apparel brands. It operates manufacturing facilities in Gurugram and Kosi near Mathura, with large-scale fabric and garment production capacity and a focus on quality and compliance standards. After the fresh allotment, Indorama Capital Holdings Pte. Ltd will hold a 24.13% stake in Jain Cord Industries, while the promoters’ shareholding will decline to 75.87% from 100% on a fully diluted basis. Jain Cord Industries reported revenue of Rs 783.33 crore in FY25, up from Rs 537.37 crore in FY24. Its profit reached Rs 19.97 crore in FY25 compared to Rs 12.52 crore in the previous fiscal.

D2C skincare brand Foxtale raises $30 Mn

EntrackrEntrackr · 1y ago
D2C skincare brand Foxtale raises $30 Mn
Medial

Foxtale, a direct-to-consumer (D2C) skincare brand, has secured $30 million (approximately Rs 250 crore) in a funding round led by Japanese beauty products company Kose Corporation. Existing investors Z3Partners (formerly Matrix Partners India), Kae Capital, and Panthera Growth Partners also participated in this round. This marks Foxtale's second capital infusion within a year, following an $18 million round in June 2024. The company plans to utilize the fresh capital to expand its product range and enhance its online presence. Foxtale, founded by Romita Mazumdar in 2021, is an affordable skincare brand focused on products designed for Indian skin, targeting issues such as acne, aging, and hyperpigmentation. Its products are available on its website and various marketplaces, including Nykaa, Amazon, Blinkit, Flipkart, and Myntra. According to the company, 50% of its revenue comes from its website, 40% from online marketplaces and quick commerce platforms, and the remaining 10% from offline sales channels. Founder and CEO Mazumdar claimed that Foxtale is on track to surpass Rs 300 crore in gross revenue in the current fiscal year. Foxtale competes with well-established players like Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, Minimalist, and several others.

Exclusive: Oxyzo secures Rs 100 Cr debt

EntrackrEntrackr · 11m ago
Exclusive: Oxyzo secures Rs 100 Cr debt
Medial

Exclusive: Oxyzo secures Rs 100 Cr debt Fintech unicorn Oxyzo has secured Rs 100 crore (approximately $12 million) in debt from AK Capital Finance, a subsidiary of merchant banker A.K. Capital Services Ltd. The boards at Oxyzo allotted 1,00,000 non-convertible debentures to AK Capital at an issue price of Rs 10,000 each to raise Rs 100 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned debentures are issued for a tenure of 24 months and carry an interest rate of 9.75% per annum, the filing added. The proceeds will be used to augment the long-term resources of the company and meet working capital requirements. Oxyzo is the lending arm of B2B e-commerce unicorn OfBusiness, providing customized credit solutions for SMEs. It offers a range of loan products, including term loans, working capital solutions, low-interest rates, and collateral-free credit options. According to data intelligence platform TheKredible, the Gurugram-based company reported operating revenue of over Rs 900 crore and a profit of Rs 290 crore for the financial year ending 2024. Oxyzo’s net profit grew 11.38% to Rs 82.89 crore and sales jumped 27.43% to Rs 282.80 crore in the quarter ended December 2024 (Q3 FY25), compared to Rs 221.93 crore in December 2023. The Ruchi Kalra-led firm achieved unicorn status by raising $200 million in its first external funding round, and it became the first startup to surpass a $1 billion valuation during its Series A round. As per TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the largest external stakeholder with 7.4% followed by Tiger Global.

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