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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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Avammune Therapeutics raises $12 Mn in Series A funding round

EntrackrEntrackr · 4m 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 · 6m 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.

D2C skincare brand Foxtale raises $30 Mn

EntrackrEntrackr · 8m 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 · 6m 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.

Emiza raises Rs 100 Cr in Series C round

EntrackrEntrackr · 7m ago
Emiza raises Rs 100 Cr in Series C round
Medial

Emiza raises Rs 100 Cr in Series C round Supply chain and warehousing startup Emiza has mopped up its Rs 100 crore (approximately $12 million) Series C funding round co-led by Evolvence India and Mirabilis Investment Trust. The round, which came at a valuation of Rs 400 crore (nearly $50 million), comprised a mix of primary and secondary investments, enabling exit for some early investors. The proceeds will be utilized to drive innovation, enhance warehouse technology, improve automation, and expand its footprint with new facilities, Emiza said in a press release. Co-founded in 2015 by Ajay Rao and Jitendra Kumar, Emiza provides logistics and delivery management solutions for e-commerce businesses. It offers warehousing and fulfillment solutions and uses technology and processes to optimize and manage the storage and distribution of inventory. Emiza states that it has emerged as a key enabler in this ecosystem, delivering customized warehousing and fulfilment solutions that elevate customer experiences and drive operational excellence for its partners. The company has recorded 40% year-on-year growth to Rs 102 crore during the fiscal year ended March 2024. However, the profits for the firm dwindled to Rs 2.6 crore in FY24, compared to Rs 4.98 crore in FY23.

Wow! Momo raises Rs 85 Cr in debt from Stride Ventures

EntrackrEntrackr · 3m ago
Wow! Momo raises Rs 85 Cr in debt from Stride Ventures
Medial

Wow! Momo raises Rs 85 Cr in debt from Stride Ventures Quick-service restaurant chain Wow! Momo Foods has raised Rs 85 crore (around $10 million) in debt funding from Stride Ventures. The proceeds will be used to refinance existing loans and drive expansion across its QSR and FMCG verticals. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates over 700 outlets in 70 cities, and owns brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. “This support from Stride Ventures will help us scale new heights and introduce more formats to reach wider audiences,” said Sagar Daryani, Co-founder & CEO of Wow! Momo. The company plans to scale its FMCG business to Rs 100 crore, grow its HORECA division, and expand to 1,500 stores across 100 cities in the next three years. As per TheKredible, Wow! Momo’s revenue from operations grew to Rs 470 crore in FY24 from Rs 413 crore in FY23. It maintained steady losses at Rs 114 crore in FY24.

Care.fi raises Rs 6 Cr debt round from RevX

EntrackrEntrackr · 4m ago
Care.fi raises Rs 6 Cr debt round from RevX
Medial

Healthcare-focused fintech startup Care.fi has raised Rs 6 crore in debt funding from RevX. The proceeds will be used to strengthen its operations around the Ayushman Bharat scheme, which now covers over 550 million beneficiaries and includes more than 29,000 empanelled hospitals as of June 2024. Founded by Sidak Singh and Vikrant Agrawal, Care.fi provides tech-enabled financial solutions to healthcare providers. The startup claims to have disbursed over Rs 800 crore to more than 100 hospitals and secured an NBFC license within two years of its inception. Care.fi plans to use its backend operations expertise to support faster claim settlements and improve hospital cash flow management as the scheme becomes more centralized.

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