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Exclusive: Pilgrim raises $9 Mn with 3X valuation surge

EntrackrEntrackr ยท 1y ago
Exclusive: Pilgrim raises $9 Mn with 3X valuation surge
Medial

Beauty and personal care D2C firm Pilgrim has raised Rs 75 crore (approximately $9 million) in its extended Series B round led by Fireside and Vertex Ventures. The board at Pilgrim has passed a special resolution to issue 854 Series B1 and B2 preference shares at an issue price of Rs 8,77 655 each to raise Rs 75 crore or $9 million, its regulatory filing accessed from the Registrar of Companies shows. Fireside and Vertex Ventures pumped in Rs 25 crore and Rs 23 crore, respectively. NSFO Ventures, Mirabilis Investment, and NABS Vriddhi cumulatively invested Rs 27 crore during the round. The company will use these proceeds for expansion and general corporate purposes as decided by the board, the filings further added. According to the startup data intelligence platform TheKredible, the companyโ€™s valuation has soared to approximately Rs 2,075 crore (around $250 million) post-allotment. This marks an over threefold increase from its last funding round, of $20 million where the company was valued at $75 million. The firm may raise more funds in this round. With the recent funding, Fireside Ventures remains the largest external stakeholder with a 23% stake, followed by Vertex Ventures, which holds 11.2%. NSFO Ventures and Mirabilis Investment command 5.57% and 2.81% stakes, respectively. Founded by Anurag Kedia in 2019, Pilgrim offers more than 90 SKUs across face care, haircare, and skincare products, and fragrances in over 25,000 pin codes. The company said that it offers a wide range of products curated with ingredients from France, Korea, Spain, Australia, the Amazon Rainforest, and Swiss glaciers. The five-year-old firm has raised around $35 million across rounds including its $20 million Series B led by Vertex Ventures in 2023. The company posted 4.47X growth in scale to Rs 76 crore in FY23 from Rs 17 crore in FY22. In pursuit of growth, its losses also jumped 3X to Rs 23 crore in FY23. Pilgrim is yet to file annual results for FY24.

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TraqCheck raises bridge round at $17 Mn valuation

EntrackrEntrackr ยท 8d ago
TraqCheck raises bridge round at $17 Mn valuation
Medial

Snippets TraqCheck raises bridge round at $17 Mn valuation TraqCheck, an AI enterprise startup focused on HR systems, has raised a bridge round at a $17 million valuation, for an undisclosed amount. The round was led by angel investors Alok Oberoi (Chairman, Everstone Capital) and Siddharth Mehta (Founder, Bay Capital), with participation from Sivaramakrishnan S. Iyer (Advisor, Bay Capital). The proceeds will be used to scale its background verification product in India and Europe, launch new AI-based HR tools, and strengthen teams in product, engineering, and growth. Founded by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, TraqCheck builds AI agents for enterprises, starting with background verification. Its product uses deterministic LLM frameworks to automate screening processes and reduce turnaround times, helping HR teams improve compliance and efficiency. It has scaled across India and recently expanded into Europe. TraqCheck raised its last round in 2023 at a $14 million valuation. Since then, it has grown rapidly, serving over 200 enterprise clients across BFSI, staffing, healthcare, and the gig economy. The firm is targeting a 3x revenue increase in 2025 as demand for automated HR solutions rises. TraqCheck competes with global background verification and HR tech players like HireRight, First Advantage, and Checkr.

D2C luggage brand uppercase raises $9 Mn led by Accel

EntrackrEntrackr ยท 1y ago
D2C luggage brand uppercase raises $9 Mn led by Accel
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D2C luggage brand Uppercase (Acefour Accessories) has raised $9 million in a Series B round led by venture capital firm Accel. As per uppercase, it has raised the new round at a post money valuation of $60 million. In 2022, the company had raised $7 million in apPre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners. The funding will support business expansion, aiming to increase its customer base across India, uppercase said in a press release. Founded by Sudip Ghose, uppercase sells travel gear online and through 1,800 multi-brand stores across India. Its products are priced in the range of Rs 3,500-5,000. The Mumbai-based company aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, uppercase also competes with Assembly, Nasher Miles and EUME. While Nasher miles raised $4 million in July, EUME bagged $1.7 million in June. As per startup data intelligence platform TheKredible, uppercase reported an operating revenue of Rs 10.65 crore in FY23 with Rs 21 crore loss. The company is targeting to more than double its revenue to Rs 150 crore by FY25, up from Rs 70 crore in FY24.

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge

EntrackrEntrackr ยท 3m ago
Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge
Medial

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge Feminine hygiene brand Plush to raise its Series B funding round, led by angel investor Ajay Kumar Aggarwal, with participation from Careernet Technologies, OTP Ventures, Blume Ventures, and 11 other investors. The board at Plush has passed a special resolution to issue 4,099 Series B preference shares to raise Rs 30.56 crore or $3.6 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows. Ajay Kumar Aggarwal will lead the round with an investment of Rs 6 crore, while existing investors Careernet Technologies, OTP Ventures, and Blume Ventures will contribute Rs 5 crore, Rs 3 crore, and Rs 4 crore respectively. The remaining amount will be collectively invested by Rahul Garg, Sumit Jalan, Blue Ashva Varenya Fund, Rahul Kayan, and seven other investors. According to Entrackrโ€™s estimates, the companyโ€™s valuation is expected to reach around Rs 281 crore (approximately $33 million) post-allotment. This marks nearly a 3X spike in its valuation, compared to its previous pre-Series B round. Following the fresh proceeds, Angel Investor Ajay Kumar Aggarwal will hold 19.64% stake in the company followed by Careerner Technologies and Blume Ventures which holds 16.37% and 13.08% respectively. Founded in 2019, the Chennai-based startup focuses on feminine care products, offering a range that includes period care, hair removal, intimate wellness, and skincare solutions. According to the company, its products are currently available in 500 stores across Bengaluru, Chennai, Mumbai, Delhi, and Hyderabad, with plans to expand retail presence to 2,000 stores over the next six months. Plush reported an 84% year-on-year revenue growth to Rs 28.87 crore in the fiscal year ending March 2024. During the same period, the company posted a loss of Rs 4.4 crore. The startup is projected to close FY25 with Rs 60 crore revenue.

Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C

EntrackrEntrackr ยท 8m ago
Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C
Medial

Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C B2B delivery and shared mobility startup Zypp Electric is raising Rs 55.4 crore ($6.5 million) from 16 investors, which seems to be part of the ongoing Series C funding round for the Gurugram-based company. The board at Zypp Electric has passed a special resolution to issue 564 Series C2 CCPS at an issue price of Rs 9,83,005 each to raise Rs 55.4 crore, its regulatory filing accessed from the Registrar of Companies shows. Individuals including Ajay Kumar Aggarwal, Samir Goenka, Narinder Bajaj, Kapil Kriplani, Vega Industries, Gagan Khanna, Supersonic Carrier, Nirmal K Bathwal, and 10 other investors will cumulatively participate during the investment. According to Entrackrโ€™s estimates, the company will be valued at around $335-350 million. This seems to be part of an ongoing round, and the valuation may vary with further injection. According to the company, it may raise up to $50 million in the Series C fundraise. In May last year, Zypp kicked off the new round with a $15 million tranche led by ENEOS. The company was backed by IAN Fund, 9 Unicorns (now 100 Unicorns), Anthill Ventures, Eiman Abdullah Mahfood Al Qatar, and others. Founded by Akash Gupta and Rashi Agrawal in 2017, Zypp Electric is an EV-as-a-service platform offering electric vehicle rentals along with delivery services through its e-scooter fleet for gig workers. The company claims to have around 22,000 active vehicles in its fleet, with 15,000 in Delhi NCR, 4,000 in Bengaluru, and 1,200 in Mumbai. Zypp Electric witnessed significant 2.6X growth, with its operating revenue crossing Rs 290 crore during the fiscal year ended March 2024. However, in pursuit of scale, the losses for the firm rose 2.2X to Rs 91 crore in the same period.

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