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Exclusive: Neo kicks off Series B with $26.5 Mn

EntrackrEntrackr ยท 1y ago
Exclusive: Neo kicks off Series B with $26.5 Mn
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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 TheKredibleโ€™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-foundersโ€”Nitin Jain, Varun Bajpai, and Hemant Dograโ€”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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Exclusive: StockGro to kick off Series B round at over $360 Mn valuation

EntrackrEntrackr ยท 10d ago
Exclusive: StockGro to kick off Series B round at over $360 Mn valuation
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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 companyโ€™s Rs 50 crore debt round raised in September 2025 from Trifecta Capital, which Entrackr exclusively reported at that time. The StockGroโ€™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 Entrackrโ€™s analysis, StockGroโ€™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.

Eloelo kicks off Series B round with $13 Mn

EntrackrEntrackr ยท 8m ago
Eloelo kicks off Series B round with $13 Mn
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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: Shadowfax kicks off Series F round at $712 Mn valuation

EntrackrEntrackr ยท 10m ago
Exclusive: Shadowfax kicks off Series F round at $712 Mn valuation
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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 Entrackrโ€™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.

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

EntrackrEntrackr ยท 10m ago
Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge
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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 Entrackrโ€™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: Wealthtech firm Neo to raise $19 Mn at 2.7X valuation surge

EntrackrEntrackr ยท 3m ago
Exclusive: Wealthtech firm Neo to raise $19 Mn at 2.7X valuation surge
Medial

Exclusive: Wealthtech firm Neo to raise $19 Mn at 2.7X valuation surge Consumer facing wealth and asset management firm Neo is in final stages to raise Rs 162 crore (approximately $19 million) through equity shares, led by VT Capital and with participation from 17 other investors. The board of Neo has passed a special resolution to issue 1,887 equity shares at Rs 8,60,410 each, to raise Rs 162.3 crore ($19 million), according to its regulatory filing sourced from the Registrar of Companies (RoC). VT Capital will lead the round with Rs 50 crore, while individual investor Ramesh Kunhikannan will contribute Rs 20 crore. Sattva Family Office, Biological E Ltd, Usha Reddy Chigarapalli, and Akshat Greentech Private Limited will invest Rs 10 crore each in the round. VT Capital is a Mumbai-based proprietary trading platform that has also invested in startups such as hygiene products maker Noble, beauty and personal care platform Purplle, and AI firm Fractal Analytics. According to Entrackrโ€™s estimates, the company would be valued at around $686 million post-money. This seems to be over a 2.7X jump in the valuation, compared to its last round when it was valued at $250 million. Before this, Neo raised $120 million, including a $48 million round in August 2024 and $35 million Series B funding in October 2023. Mumbai-based Neo helps wealthy individuals and family offices invest their money. It focuses on credit and real estate, and also runs funds that give companies capital while aiming for safe returns for investors. It claims to manage nearly Rs 35,000 crore in wealth management assets and over Rs 6,000 crore in alternative asset management. According to the filings, before the round, Peak XV was the largest external stakeholder with 19.29%, followed by Crystal Investment Advisors LLP (Artha Group) at 6.74%. Among co-founders, Nitin Jain held 30.09%, Varun Bajpai 15.04%, and Hemant Daga 4.51%. Earlier this year, Neo Assets marked its first close of its second private credit fund at Rs 2,000 crore. The fund is registered with SEBI and provides credit solutions to unlisted companies and acquires their secondary stakes. The company is yet to file its annual results for FY25. During the fiscal year ended March 2024, it reported a 2.4X year-on-year increase in its revenue to Rs 149 crore, while the losses grew to Rs 13.7 crore in the same period.

Exclusive: Bare Anatomy parent Innovist kicks off Series B round

EntrackrEntrackr ยท 8m ago
Exclusive: Bare Anatomy parent Innovist kicks off Series B round
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Innovist, the parent company of Bare Anatomy, Chemist at Play, and Sunscoop, is raising Rs 49.25 crore (approximately $5.7 million) in its Series B round. This marks the first round of investment for the Gurugram-based company in 2025. The board at Innovist has passed a special resolution to issue 72,223 Series B compulsory convertible preference shares at an issue price of Rs 6,819 each, raising Rs 49.25 crore, according to its regulatory filing accessed from the Registrar of Companies (RoC). IVen Amplifi Fund (managed by ICICI Ventures Fund) will lead the round with Rs 19.47 crore, while Mirabilis Investment Trust will contribute Rs 10.1 crore. Sauce.VC and Niveshaay Sambhav Fund will also participate, investing Rs 8.75 crore and Rs 10 crore, respectively. The fresh proceeds will be utilized for recruitment, operations, sales, marketing, and other general corporate purposes, as decided by the board. According to Entrackr estimates, the company will be valued at approximately $140 million post-allotment. This capital infusion appears to be part of a larger funding round, with the potential for additional investments that could further impact its valuation. Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovistโ€”formerly known as Onesto Labsโ€”offers personal care products. It currently operates three brands: Bare Anatomy, Chemist at Play, and Sunscoop. Innovist has raised over $16 million to date, including a $7 million Series A round led by the Amazon Smbhav Venture Fund. According to the startup data intelligence platform TheKredible, prior to this round, Sauce.VC was the largest external stakeholder, followed by 72 Ventures, Accel India, and the Amazon Smbhav Fund. The company has not yet filed its annual statements for the previous fiscal year (FY24). In FY23, it reported operational revenue of Rs 36.53 crore, while its losses amounted to Rs 16.87 crore during the same period.

Exclusive: Dhruva Space to kick off pre-Series B with $6 Mn

EntrackrEntrackr ยท 9d ago
Exclusive: Dhruva Space to kick off pre-Series B with $6 Mn
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Exclusive: Dhruva Space to kick off pre-Series B with $6 Mn Space-tech startup Dhruva Space is raising Rs 51.76 crore ($6 million) in a pre-Series B round led by AVCF1 (Aditum Venture Capital Fund), with participation from 33 other investors. According to the companyโ€™s regulatory filings, the board has cleared a special resolution to issue 1 equity share and 553 pre-Series B preference shares at Rs 9,34,429 per share, aggregating to the total fundraise. AVCF1 will anchor the round with Rs 26.16 crore, while Aranya Holding Ventures LLP will contribute Rs 10 crore. The rest of the capital will come from Hyderabad Angel Fund, AR Enterprises, Ativira Technologies, and a clutch of other angel investors. As per Entrackrโ€™s estimates, Dhruva Spaceโ€™s post-money valuation stands at around $215 million after the round. With this, the Hyderabad-based company has raised over $22 million to date, including its $15 million Series A backed by Indian Angel Network Alpha Fund, Blue Ashva Capital, Silverneedle Ventures, BITEXCO Group, IvyCap Ventures, Mumbai Angels, and the Blume Founders Fund. Founded by Sanjay Nekkanti and Chaitanya Dora, Dhruva Space has launched eight payloads over the past 24 months, including the Thybolt satellites in November 2022 and the LEAP-TD mission on January 1, 2024. The company operates across the space, launch, and ground segments, offering satellites, earth stations, and launch services. Indiaโ€™s private space-tech ecosystem has been on a steady funding upswing, with startups such as Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Vesta Space, Digantara and InspeCity drawing investor interest. Dhruva Spaceโ€™s latest round adds to this momentum as the sector continues to expand its capabilities and global relevance.

Exclusive: Neo raises $25 Mn led by Crystal Investment

EntrackrEntrackr ยท 13d ago
Exclusive: Neo raises $25 Mn led by Crystal Investment
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Exclusive: Neo raises $25 Mn led by Crystal Investment Consumer-facing wealth and asset management firm Neo has raised Rs 221 crore (about $25 million) in a follow-on round led by Crystal Investment Advisors. This is the second fundraise for the Mumbai-based company in the past four months. According to a regulatory filing sourced from the Registrar of Companies (RoC), Neoโ€™s board approved a board resolution to allot 2,571 equity shares at Rs 8,60,410 each, to raise the above-mentioned amount. Crystal Investment Advisors led the tranche with Rs 193 crore, while Morde Foods Private Limited contributed Rs 28 crore. The firm plans to deploy the capital towards growth initiatives and operational requirements. As per Entrackrโ€™s estimates, the latest infusion values Neo at around $700 million post-money. The new raise lands barely three months after Neo mopped up Rs 162 crore ($19 million) through equity shares in a round led by VT Capital, with participation from 17 other investors. The development was earlier exclusively reported by Entrackr. During that $19 million round, Neo clarified to Entrackr that it had also raised $20 million in February (Q1 CY2025) from MUFG, Peak XV Partners, Euclidean Capital, and a large Indian family office at a pre-money valuation of Rs 5,500 crore (around $640 million). The current tranche has also been closed at the same valuation. Neo offers advisory and yield-based investment products to high-net-worth and ultra-high-net-worth individuals, including family offices. Earlier this year, Neo Assets marked the first close of its second private credit fund at Rs 2,000 crore. Registered with SEBI, the fund provides credit solutions to unlisted companies and acquires secondary positions. The company is yet to file its financials for FY25. For the fiscal year ended March 2024, Neo recorded a 2.7X year-on-year jump in revenue to Rs 177 crore, even as its losses widened to Rs 13.7 crore during the period.

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

EntrackrEntrackr ยท 2m 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), Qapitaโ€™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.

Exclusive: BetterPlace kicks off new round

EntrackrEntrackr ยท 9m ago
Exclusive: BetterPlace kicks off new round
Medial

Exclusive: BetterPlace, a blue-collar workforce management platform, is raising Rs 31.9 crore ($3.8 million) in its Series D round led by Jungle Ventures. This funding comes over two years after its $64 million Series C round. The board at BetterPlace has passed a resolution to issue 10,574 Series D CCPS at an issue price of Rs 30,174 each to raise Rs 31.9 crore or $2.8 million, its regulatory filing sourced from the Registrar of Companies shows. Jungle Ventures will invest Rs 20.7 crore, while the remaining amount will come from Capria Ventures. This investment is part of BetterPlace's ongoing Series D round, with the firm expected to raise additional funds. The funds will be used for general business operations, as per filings. According to Entrackr estimates, BetterPlace will be valued at approximately $250 million post-allotment, subject to change if further investments are secured. Founded in 2015, BetterPlace offers KYC-based digital employee onboarding, digitized employee records, background verification, skill development training and assessment. According to its website, the firm has provided full-stack workforce management solutions to over 1,000 enterprises, including Amazon, Ola, Uber, Swiggy, and Zomato. BetterPlace has acquired eight companies, including Oust Labs, AasaanJobs, OLX People, Waah Jobs, OkayGo, EzeDox, Troopers, and MyRobin. It competes directly or indirectly with platforms like Apna, GigIndia, and WorkIndia. The company has yet to file its FY24 annual results. In FY23, its revenue from operations stood at Rs 533 crore, while BetterPlace reported a loss of Rs 132 crore during the same period.

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