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Exclusive: Kitchenware firm The Indus Valley raises fresh funds led by DSG

EntrackrEntrackr · 1y ago
Exclusive: Kitchenware firm The Indus Valley raises fresh funds led by DSG
Medial

D2C kitchenware startup The Indus Valley has raised Rs 23.1 crore in its pre-Series A round, led by DSG Ventures. This marks the first investment for the Chennai-based firm after a 25-month hiatus. The board at Indus Valley has passed a board resolution to issue 41,485 pre-series A CCPS at an issue price of Rs 5,580.4 each to raise Rs 23.1 crore or $2.75 million, its regulatory filing sourced from the RoC shows. DSG Consumer Partners invested Rs 14.5 crore, while the White Whale Venture fund has put in Rs 3.52 crore. Candle Advisors, Zend Advisors. Individual investors including Shavak Srivastava, Rajiv Pillai, and Girish Gupte invested the rest of the amount. The company has already received Rs 18.62 crore from the specified amount, with the remaining capital is expected to get wired soon. According to the data intelligence platform TheKredible, the company has been valued at Rs 303 crore or $36 million post-money. This marks a around threefold increase from its previous funding round, where it was valued at Rs 116 crore. The round appears to be an ongoing one, and the firm may raise more capital. The Indus Valley specializes in toxin-free kitchenware, offering safe alternatives to chemically coated products. Its products are made from cast iron, iron, copper, clay, and wood. During the fiscal year ended March 2023, the company recorded a 68% year-on-year growth to Rs 38.81 crore. The firm’s losses grew 2.8X to Rs 8.98 crore in the same period. The company has yet to file its annual report for the previous fiscal year (FY24).

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Cumin Co. raises $5 Mn pre-Series A round led by Fireside Ventures

EntrackrEntrackr · 11d ago
Cumin Co. raises $5 Mn pre-Series A round led by Fireside Ventures
Medial

Cumin Co. raises $5 Mn pre-Series A round led by Fireside Ventures Gurugram-based kitchenware startup Cumin Co. has raised $5 million (around Rs 41 crore) in a pre-Series A funding round led by Fireside Ventures. Existing investors Huddle Ventures and Alteria Capital also participated, along with several angel investors. Earlier in August last year, Cumin Co. had raised its first institutional funding of $1.5 million (about Rs 13.16 crore) led by Fireside Ventures along with participation from Huddle Ventures. The proceeds will be used to expand the product portfolio across cookware and kitchen essentials. It also plans to strengthen its supply chain, increase investments in R&D, and improve manufacturing and product innovation capabilities. Founded by Niharika Joshi and Udit Lekhi, Cumin Co. operates in the premium kitchenware segment and focuses on research-led product development. The brand sells cookware and kitchen essentials directly to consumers through online channels. Cumin Co. builds its products around proprietary material and coating technology under its Enviromax platform. It holds three granted patents and has five more pending, covering material science, surface coatings, and product design. Going ahead, Cumin Co. will continue to focus on controlled expansion, selective channel rollout, and improving unit economics as it scales its operations. It competes with other notable startups in this space such as Indus Valley and Palette Brand’s Ember. Indus Valley secured Rs 23.1 crore in a pre-Series A round led by DSG Ventures, while Palette Brands raised nearly Rs 17 crore in a pre-Series A round led by Rockstud Capital.

Home decor and lifestyle brand Nestasia raises $8.35 Mn

EntrackrEntrackr · 1y ago
Home decor and lifestyle brand Nestasia raises $8.35 Mn
Medial

Nestasia, a home decor and lifestyle brand, has raised $8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners, and notable angel investors. The proceeds will be used to scale the company’s efforts in offline store expansion, new category launches, brand building, and hiring. Founded in 2019 by Aditi Murarka Agrawal and Anurag Agrawal, Nestasia offers a curated selection of home decor and lifestyle products across six key categories. Nestasia plans to expand its product range within kitchenware, drinkware, cookware, and appliances and introduce new themed categories such as Nest Baby & Kids (home products for children), and more. Over the past year, Nestasia claims to have expanded its offline presence across six cities, with seven exclusive brand outlets. The firm plans to deepen its presence across these cities and expand to new ones by opening 30 stores by the end of 2025.

ixigo-backed Fresh Bus raises $10.5 Mn in Series A round

EntrackrEntrackr · 1y ago
ixigo-backed Fresh Bus raises $10.5 Mn in Series A round
Medial

All-electric intercity bus startup Fresh Bus has raised Rs 87.5 crore ($10.5 million) in Series A funding round led by international early-stage transportation-focused VC fund Maniv, with participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings. Last month, Entrackr exclusively reported about Fresh Bus’ new round. Fresh Bus will utilize the new funds to add 15 routes and deploy 150 new electric buses, the firm said in a press release. Besides scaling ops, the funds will also be deployed towards raising technological capabilities, and strengthening its team. Fresh Bus was previously backed by notable industry leaders such as CRED founder Kunal Shah, TVS Motors MD Sudarshan Venu, and Rivigo CEO Deepak Garg. Earlier, the firm also secured Rs 16 crore ($2 million) from public company ixigo. FreshBus, which offers ticketing, real-time tracking of buses, loyalty program, among other services, was founded by Sudhakar Reddy Chirra. Chirra had built bus aggregator Abhibus which was acquired by ixigo in August 2021 in a cash and stock deal. The Bengaluru-based company claims to have ferried over 4 lakh passengers to date. According to Chirra, the firm expects to scale to 1000 electric buses pan-India over the next four years. As per startup data intelligence platform TheKrediblle, FreshBus was a pre-revenue stage firm with a loss of Rs 2.1 crore during FY23. The company is yet to file its annual financial results for FY24. Fresh Bus competes with IntrCity SmartBus, ZingBus, Yolobus, and gogoBus, among several organized travel agencies across regions.

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