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Exclusive: Neo kicks off Series B with $26.5 Mn

EntrackrEntrackr · 1y ago
Exclusive: Neo kicks off Series B with $26.5 Mn
Medial

Wealth and asset management company Neo has raised Rs 220 crore or $26.5 million in its Series B led by Crystal Investment. This is the second significant round for the Mumbai-based company in the past 9 months. The board at Neo has approved issuing Series B preference shares at an issue price of Rs 3,12,421 each to raise $26.5 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Crystal investments pumped in Rs 140 crore (approximately $16.8 million) while Mufg Bank and individual investor Deepak Agarwal participated with Rs 78 crore and Rs 2 crore, respectively. This seems to be part of an ongoing round and the firm may raise more funds.. As per TheKredible’s estimates, the company has been valued at around Rs 1,920 crore or $231 million post-allotment. Neo has raised around $104 million to date including its $35 million Series B round led by Peak XV in October last year. According to the startup data intelligence platform TheKredible, Peak VV was the largest external shareholder, holding 22.22% of the company. Meanwhile, its co-founders—Nitin Jain, Varun Bajpai, and Hemant Dogra—collectively held 63.81% prior to this funding round. Neo provides advisory and yield-based investment solutions to high and ultra-high net worth individuals including indigenous family offices. The three-year-old firm demonstrated supper growth in the fiscal year ending March 2023 as its revenue ballooned 9X to Rs 65.1 crore. Neo achieved such growth with a mere loss of Rs 3.6 crore during FY23. The company is yet to disclose its FY24 results.

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Eloelo kicks off Series B round with $13 Mn

EntrackrEntrackr · 10m ago
Eloelo kicks off Series B round with $13 Mn
Medial

Social gaming and live streaming platform Eloelo is raising Rs 114 crore (approximately $13 million) in its Series B round led by Play Ventures Investments with participation from Gameskarft Technologies, Kalaari Capital, and WestBridge Capital. The board has passed a resolution to issue 1,696 Series B compulsory convertible preferred shares at Rs 6,73,997 each to raise the funds, according to a regulatory filing. Play Ventures is investing Rs 34.7 crore, Gameskraft Technologies Rs 21.7 crore, WestBridge Capital Rs 8.7 crore, and Kalaari Capital Rs 13 crore. Additional investments are being made by Countryside Ventures, Rocket Capital, MIXI Global, and Veenita and Vinay Mittal. Eloelo has raised over $50 million to date, including a $22 million pre-series B round co-led by Courtside Ventures and Griffin Gaming Partners. Post-transaction, Play Ventures will hold 3.38%, Countryside Ventures 4.46%, Gameskraft 2.12%, and Kalaari Capital 6.35%. Founded by Saurabh Pandey and Akshay Dubey, Eloelo offers live games and entertainment with native activities like tambola and antakshari. It features over 50 live games and more than 1,000 daily live streams. The social gaming and live streaming space in India is evolving with platforms like Loco, Rooter, and Turnip in gaming, while Chingari, ShareChat, and Bolo Live expand into live and casual gaming.

Exclusive: StockGro to kick off Series B round at over $360 Mn valuation

EntrackrEntrackr · 2m ago
Exclusive: StockGro to kick off Series B round at over $360 Mn valuation
Medial

Exclusive: StockGro to kick off Series B round at over $360 Mn valuation StockGro is raising Rs 150 crore ($17 million) in its Series B round led by Mukul Agarwal with the participation of Sanshi Fund, Neo Apex Share Broking, Valiant Mauritius Partners and 12 other investors. This funding follows the company’s Rs 50 crore debt round raised in September 2025 from Trifecta Capital, which Entrackr exclusively reported at that time. The StockGro’s board approved the issue of 12,707 Series B CCPS at an issue price of Rs 78,668 each to raise Rs 100 crore and 6,356 Series B1 partly paid up shares amounting to Rs 50 crore, according to its regulatory filing with the Registrar of Companies (RoC). Ace investor Mukul Mahavir Agarwal will lead the round with Rs 104 crore, which includes Rs 50 crore in partly paid-up shares. Sanshi Fund and Neo Apex Share Broking Services are investing Rs 10 crore each, while Valiant Mauritius Partners will invest Rs 6 crore. Polycab India promoter Ajay T. Jaisinghani and Uphar Homfin Pvt Ltd will invest Rs 5 crore each, with the remaining amount to be contributed by Hem Securities, Gaurav Jain, Vijay Khetan, and other angel investors. According to Entrackr’s analysis, StockGro’s valuation will stand at Rs 3,187 crore or $362 million post-money. In addition to the fresh funding, the company also issued 3,966 ESOP options worth Rs 32 crore, taking the total ESOP pool to Rs 260 crore (around $30 million). 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. The Bengaluru-based startup had raised about $76 million in debt and equity to date, according to startup data intelligence platform TheKredible. Its lead investors include Bitkraft Ventures, Root Ventures, and General Catalyst. 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, its losses surged 84% to Rs 101 crore.

Equity management platform Qapita raises $26.5 Mn in Series B round

EntrackrEntrackr · 4m ago
Equity management platform Qapita raises $26.5 Mn in Series B round
Medial

Equity management platform Qapita raises $26.5 Mn in Series B round Singapore-based equity management platform Qapita has raised $26.5 million in its Series B funding round led by US-based Charles Schwab Corporation, with participation from existing investors Citi and MassMutual Ventures. Earlier in October 2021, Qapita raised $15 million from East Ventures (Growth Fund) and Vulcan Capital and others. It has raised nearly $50 million to date. The proceeds will be used to help Qapita expand into the US market and launch its fund administration product across multiple regions. Qapita also plans a strategic collaboration with Charles Schwab on Schwab Private Issuer Equity Services powered by Qapita. Founded by Ravi Ravulaparthi (CEO), Lakshman Gupta (COO), and Vamsee Mohan (CTO), Qapita’s platform provides equity management solutions for private companies in India, Southeast Asia, and the US. It helps manage ownership records, employee stock plans, and investor reporting requirements. The platform also supports secondary transactions and liquidity programs, allowing participants to access value from their ownership. Qapita has offices in Singapore, India, Indonesia, and the US. Its goal is to digitize private market ownership and simplify management for companies and investors. The company has been supported by reputed global investors, including Cercano, East Ventures, MassMutual Ventures, Endiya Partners, Citi, Nyca Partners, and Analog Capital.

Wealthtech firm Neo raises $48 Mn led by MUFG, Euclidean Capital

EntrackrEntrackr · 1y ago
Wealthtech firm Neo raises $48 Mn led by MUFG, Euclidean Capital
Medial

Wealth and asset management firm Neo has raised Rs 400 crore or $48 million in Series B round led by MUFG Bank and New York-based Euclidean Capital LLC. Existing investor Peak XV Partners also participated in this round. The funds will be used to expand Neo’s wealth management division and enhance support for its asset management business, the company said in a press release. With this, Neo has raised around 1,000 crore ($120 million) in equity capital including a $35 million round from Peak XV in October last year. Earlier this month, the company raised the first tranche of this round worth $26.5 million. As per startup data intelligence platform TheKredible, it was valued at around $231 million. Mumbai-based Neo provides advisory and yield-based investment solutions to high and ultra-high net worth individuals including indigenous family offices. Focusing in the areas of credit and real assets, the platform has also launched bespoke funds that provide capital solutions to companies providing risk adjusted returns for investors. Neo group claims that it manages nearly Rs 35,000 crore in wealth management assets and over Rs 6,000 crore in alternative asset management. The three-year-old firm reported a nine-fold growth in its revenue to Rs 65 crore in the fiscal year ending March 2023 (FY23). Significantly, it achieved such growth with a mere loss of Rs 3.6 crore during FY23. The company is yet to disclose its FY24 results. According to TheKredible, Peak VV was the largest external shareholder, holding 22.22% of the company. The company’s co-founders—Nitin Jain, Varun Bajpai, and Hemant Dogra—collectively held 63.81% prior to this funding round. More than half a dozen wealthtech startups have raised funds in the ongoing calendar year. Recently, Stable Money raised $15 million while Deserv raked in $32 million. Fisdom, Powder, Wealthy and Infynite Club also scored decent funding in the past year.

Exclusive: Shadowfax kicks off Series F round at $712 Mn valuation

EntrackrEntrackr · 1y ago
Exclusive: Shadowfax kicks off Series F round at $712 Mn valuation
Medial

Exclusive: Shadowfax kicks off Series F round at $712 Mn valuation Logistics firm Shadowfax has secured Rs 34.2 crore (around $4 million) in its Series F round. The development has come nearly 11 months after raising $100 million in its last funding round. The board at Shadowfax has passed a special resolution to allot 5773 Series F compulsory cumulative preference shares at an issue price of Rs 59,320 each to raise Rs 34.2 crore or $4 million, its regulatory filing accessed from the Registrar of Companies shows. Mirae Asset invested Rs 17.4 crore, while Nokia Growth Partners contributed Rs 16.79 crore in the round. Shadowfax is reportedly aiming to raise $50 million, with this investment being part of a larger raise. According to Entrackr’s estimates, the Flipkart-backed company has been valued at around Rs 5,981 crore or $712 million post-allotment. The valuation might change with the flow of more funds. Shadowfax provides services to a vast network of customers with industry-leading Turnaround Time (TAT) at competitive prices. It boasts a unique crowdsourcing network comprising 125,000 monthly active delivery partners and 3.5 million registered users. The Bengaluru-based company has raised over $200 million to date. According to the startup data intelligence platform TheKredible, Eight Road Ventures is the largest external stakeholder followed by Flipkart, Newquest Asia and Nokia Growth Partners. Shadowfax reportedly plans to raise Rs 2500-3000 Cr IPO in the second half of the ongoing calendar year and the company also tapped JM Financial, Morgan Stanley and ICICI Securities as the lead bankers for the initial public offering. Shadowfax has reported a 33.2% year-on-year growth to Rs 1,415 crore during the previous fiscal year ended March 2024. Moreover, the company has managed to reduce its losses significantly by 91.7% to Rs 11.8 crore from Rs 142.6 crore in FY23. In terms of competition, Delhivery, a publicly listed company, reported Rs 8,594 crore in revenue for FY24. Ecom Express posted Rs 2,609 crore in revenue for FY24 and has secured board approval for a Rs 2,600 crore IPO. Other key competitors for Shadowfax include XpressBees, Shiprocket, and Blue Dart.

Jai Kisan raises fresh funds in extended Series B

EntrackrEntrackr · 10m ago
Jai Kisan raises fresh funds in extended Series B
Medial

Rural fintech startup Jai Kisan has raised Rs 26.5 crore (approximately $3 million) in its extended Series B round from existing investors: Unitary Fund, Mirae Asset, and Blume Ventures. The board at Jai Kisan has passed a special resolution to allot 980 compulsory cumulative preference shares (CCPS) at an issue price of Rs 2,70,133 per share to raise Rs 26.5 crore or $3 million, its regulatory filings sourced from the Registrar of Companies (RoC) show. Mirae Asset Venture invested Rs 12.5 crore, whereas Unitary Fund and Blume Ventures participated with Rs 12 crore and Rs 2 crore, respectively. According to Entrackr’s estimates, the company is valued at around $180 million post-allotment. Founded in 2017 by Arjun Ahluwalia and Adriel Maniego, Jai Kisan is a rural-focused neo bank that offers credit for transactions in online and offline rural commerce environments to individuals and rural businesses. Jai Kisan has recorded an operating revenue of Rs 39 crore in the fiscal year ended March FY24 with a loss of Rs 51 crore in the same period. Last year, the company received an NBFC license through its majority strategic acquisition of Kushal Finnovation Capital Private Limited.

Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge

EntrackrEntrackr · 12m ago
Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge
Medial

Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge Clean-label health food brand The Whole Truth is raising Rs 133.3 crore (approximately $15.8 million) in a series C round led by Sofina Ventures, with the participation of Peak XV and Matrix Partners. The board at The Whole Truth has passed a special resolution to issue 45,097 Series C preference shares at an issue price of Rs 29,556.5 each to raise Rs 133.3 crore or $15.8 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Sofina Ventures is leading the Series C round with an investment of Rs 65.8 crore, while Peak XV and Matrix Partners will contribute Rs 25 crore and Rs 29.5 crore, respectively. Sauce Continued Fund will also participate with an investment of Rs 13 crore. The fresh funds will be used to meet financial requirements and support business expansion. According to Entrackr’s estimates, the Mumbai-based company will have a post-allotment valuation of approximately Rs 2,135 crore ($254 million). This marks a 3.6X increase in valuation compared to its previous Series B round, which closed at $70 million. According to the filings, after the fresh funding round, Peak XV will hold 21.14% of the firm, while Matrix Partners will own 21.4%. Sofina Ventures and Sauce Continuity will hold 3.08% and 3.77%, respectively. The Whole Truth was reportedly in discussions to raise $25 million in a new funding round. The company has secured $15.8 million so far and may raise additional funds as the round progresses. The Whole Truth offers a range of products, including protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli. The company provides subscription options and claims that 80-85% of its sales come from its website, with the remaining revenue generated through partnerships. The Whole Truth recorded an 81% year-on-year growth, with revenue rising to Rs 65.3 crore in FY24 from Rs 35.96 crore in FY23. The company reduced its losses by 33% during the same period.

Exclusive: Bluecopa kicks off Series A with a 2.3X valuation surge

EntrackrEntrackr · 2m ago
Exclusive: Bluecopa kicks off Series A with a 2.3X valuation surge
Medial

url: https://entrackr.com/exclusive/exclusive-bluecopa-kicks-off-series-a-with-a-23x-valuation-surge-10788821. Content: FinOps automation platform Bluecopa to begin its Series A round with a Rs 64.7 crore (around $7.35 million) fundraise led by Valorshield Pte Ltd (Analog), with participation from existing investors Blume Ventures and Dallas Venture Capital. This investment follows the company’s $1.8 million pre-Series A round secured in September last year. The Bluecopa’s board has issued 4,562 Series A compulsory convertible preference shares at an issue price of Rs 1,41,849.13 per share to raise the above-mentioned amount, according to its filing with the Registrar of Companies (RoC). Valorshield Pte Ltd led (Analog) the round with Rs 38.8 crore ($4.4 million) investment, while the existing investors Blume Ventures and Dallas Venture Capital participated with Rs 12.93 crore each. According to Entrackr’s analysis, Bluecopa’s valuation surged 2.3X to Rs 306 crore or approximately $35 million post money, compared to Rs 133 crore valuation in its previous $1.8 million round. Co-founded in 2021 by Nilotpal Chanda, Raghavendra Reddy, and Satya Prakash Buddhavarapu, Bluecopa uses AI and data analytics to help CFOs automate and optimize financial operations. Its cloud-native platform offers a unified system for modern finance teams, enabling autonomous processes that streamline workflows and improve overall efficiency. According to startup data intelligence platform TheKredible, the Hyderabad-based company has raised around over $11 million to date including its seed round of $2.3 million raised in August 2022. Financially, for the fiscal year ended March 2024, the Blume-backed company reported operating revenue of just Rs 5.2 lakh and non-operating income of Rs 27.38 lakh. It posted a net loss of Rs 7.2 crore during the period. The company has yet to disclose its FY25 financials.

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