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Exclusive: Proxgy raises fresh capital from Manish Patel, Nikhil Kamath, Suniel Shetty, others
Entrackr
·
10m ago
Medial
Deeptech startup Proxgy has raised around $2.2 million in a funding round led by Manish Patel. Nikhil Kamath, Suniel Shetty, Kuldeep Mathur, and others also participated in the round. The board at Proxgy has passed a special resolution to issue 13,998 compulsory convertible preferred shares at an issue price of Rs 13,230 each, raising Rs 18.51 crore, according to its regulatory filing accessed by Entrackr from the Registrar of Companies (RoC). Manish Patel has invested Rs 13.23 crore in the company, while Kuldeep Mathur, Bajranj, Nikhil Kamath, Suniel Shetty, Shruthi Bothra, and other individuals contributed the remaining amount. The company will use these funds for capital expenditures, day-to-day expenses, working capital requirements, and growth objectives. According to the startup data intelligence platform TheKredible, Proxgy has been valued at around Rs 140 crore or $16.86 million post-allotment. The Gurugram-based company has also raised Rs 16 crore ($2 million) in a pre-series A round led by LetsVenture, Planify Angel Fund, Mach Tech Fund, and others in October last year. According to the latest filing, Manish Patel holds 3.12% of the company after leading this round. Founded in 2020 by Pulkit Ahuja, Proxgy is a deep-tech startup focused on developing innovative IoT-based solutions. The company also offers smart wearables and safety products designed to enhance workplace safety and efficiency, particularly for blue-collar workers. SmartHat, Sleefe, Lockator, Audiopad, AirHat, and BirdBox are some of the offerings from Proxgy. It was in pre-revenue-stage company until FY23 as its revenue stood at Rs 72 lakh. Meanwhile, the firm posted a loss of Rs 3.2 crore in the same period. The firm is yet to report its annual results for the last fiscal year (FY24).
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Leanworx, Proxgy secure early-stage funding to fuel expansion
VCCircle
·
7m ago
Medial
Real-time data monitoring startup Leanworx has raised INR 8.3 crore in seed funding, led by YourNest Venture Capital, to scale marketing efforts in India and Southeast Asia and advance product development. Proxgy, a company specializing in IoT solutions, has secured funding in its ongoing Series A round. The funds will be used to scale operations, expand product offerings, and strengthen its presence overseas. Investors in Proxgy include Indian cricketer Ajinkya Rahane, entrepreneur Nikhil Kamath, and Bollywood actor Suniel Shetty.
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Exclusive: D2C Brand Metaman Bags Additional Funding From KL Rahul To Launch Perfume Range
Inc42
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11m ago
Medial
Rahul will become the brand ambassador of Metaman, a company specializing in lifestyle products. The funding received will be used for various purposes such as launching and marketing fragrance products, expanding apparel offerings, entering new lifestyle product segments, and opening more retail stores. Metaman, established in 2022, already sells chains, bracelets, pendants, and apparel for men. Notable backers of the company include actor Suniel Shetty and Zerodha co-founder Nikhil Kamath.
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Ajinkya Rahane invests in Proxgy’s Series A round
Entrackr
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7m ago
Medial
Snippets Ajinkya Rahane invests in Proxgy’s Series A round Proxgy, an IoT innovator specializing in safety, connectivity, and productivity solutions, has received funding from Indian cricketer Ajinkya Rahane in its ongoing $3 million Shashank Pathak 25 Dec 2024 11:59 IST Follow Us New Update Proxgy, an IoT innovator specializing in safety, connectivity, and productivity solutions, has received funding from Indian cricketer Ajinkya Rahane in its ongoing $3 million Series A funding round. Other key investors in the round include Nikhil Kamath, Suniel Shetty, Vinod Duggar, and Manish Patel. Entrackr had exclusively reported the Series A round in September, 2024. The Gurugram-based company has also raised Rs 16 crore ($2 million) in a pre-series A round led by LetsVenture, Planify Angel Fund, Mach Tech Fund, and others in October last year. The new proceeds will be used to scale operations, expand Proxgy’s product offerings, and strengthen its international presence. Founded by Pulkit Ahuja in 2020, Proxgy is focused on developing innovative IoT-based solutions. The company also offers smart wearables and safety products designed to enhance workplace safety and efficiency, particularly for blue-collar workers. The Gurugram-based company has represented India globally, winning the European Product Design Award, Most Innovative Product at CES Las Vegas, and Most Promising Start-Up at GITEX Africa. The firm claims to have reported a 800% revenue growth in FY24, with a Rs 50 crore order book. Advertisment Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here. Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news Subscribe Now Related Articles LIVE RBI permits third-party UPI apps to process payments from PPI wallets LIVE Leanworx raises seed round led by YourNest Venture LIVE Razorpay grants ESOPs worth Rs 1 lakh to all current employees LIVE OYO completes acquisition of G6 Hospitality LIVE Cornerstone Ventures bags $100 Mn exit from Intelligence Node Read the Next Article
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Zerodha's Kamath brothers donated Rs 110Cr in a year to charity; Shiv Nadar tops the list: Hurun India
IndianStartupNews
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1y ago
Medial
Zerodha co-founders Nithin and Nikhil Kamath have been recognized as philanthropists for their donation of Rs 110 crore to organizations focusing on climate change and environmental sustainability. Nikhil Kamath, at 37, has become the youngest philanthropist to be featured on the list. The top spot on the list was claimed by Shiv Nadar, who made a contribution of Rs 2,042 crore towards the promotion of art and culture. Nikhil Kamath has also committed to 'The Giving Pledge', an initiative by Bill Gates and Warren Buffet. Mumbai is noted as India's philanthropy capital.
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Nazara Technologies Q2 net profit surges 53%, revenue up 13%
Livemint
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1y ago
Medial
Nazara Technologies reported a 13% YoY growth in revenue from operations to ₹297.2 crore in the July-September quarter. The company's EBITDA increased by 30% to ₹27.9 crore, with margins rising to 9.4%. The firm recently secured ₹510 crore in fresh capital from investors like Nikhil Kamath and SBI Mutual Fund, and has a cash position of ₹1,300 crore. The company also launched "Nazara Publishing" to offer capital and support services to empower game developers.
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Juice shop chain The Fresh Press raises funds from Gruhas Collective Consumer Fund
Economic Times
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1y ago
Medial
Cold-pressed juice maker The Fresh Press has secured an undisclosed amount of equity funding from Gruhas Collective Consumer Fund (GCCF), backed by Nikhil Kamath. The Fresh Press, founded in 2018, operates approximately 40 outlets in nine cities across India. The funding will be used to expand the number of stores to 150, primarily through shop-in-shop setups. The company aims to increase revenue from Rs 3.5 crore in FY23 to Rs 15 crore in FY25. The Fresh Press has reported a store-level EBITDA margin of 15% and offers a range of fruit juices, milkshakes, and smoothies.
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Sunil Shetty-backed Regrip raises $2 Mn in new round
Entrackr
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1y ago
Medial
Bollywood actor Suniel Shetty and IT ministry-backed startup Regrip has raised $2 million about Rs 16.7 crore, in a funding round co-led by Qatar-based venture capital Sirious One, Inflection Point Ventures, and Let’s Venture. The round also saw participation from a host of angel investors, including EaseMyTrip’s co-founder Rikant Pitti, TIE Angels chairman Mahavir Pratap Sharma and Shobitam’s co-founder Aparna Thyagarajan among others Regrip has also provided exit to seed investor IIMA Ventures. The proceeds will be used to fuel the expansion of this innovative technology deployment with tyre companies and further enhance Regrip’s collection network for discarded tyres. It plans to ramp up its impact on the environment by revitalizing discarded tyres, reducing waste, and maximizing their lifespan. Founded by Tushar Suhalka, Regrip is building a network of discarded tyre collection centres. The startup uses quality-grade rubber to make refurbished tyres through shearing and retreading processes.
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Exclusive: SolarSquare raises fresh funds from Zerodha's Rainmatter, Gruhas, others
Entrackr
·
1y ago
Medial
Rooftop solar startup SolarSquare has raised $4.2 million from existing investors Zerodha’s Rainmatter Capital, Abhijeet Pai and Nikhil Kamath’s Gruhas Proptech, Lowercrabon Capital, Climate Angels and Good Capital. The board at SolarSquare has passed a special resolution to allot 7,589 Series B compulsory convertible debentures at an issue price of Rs 46,710 to raise Rs 35.44 crore, its regulatory filing shows. Lowercarbon and Good Capital invested Rs 20.74 crore and 3.32 crore while Gruhas Proptech and Rainmatter separately pumped in Rs 6.22 crore and Rs 3.98 crore, respectively. The funding will be used for the expansion, working capital requirements, and general corporate purposes, according to the filings. Every debenture issue during the round will be converted into a preference share at the next qualified funding round and the investors are considering the same to take place at a valuation of $75 million, the filings further added. As per TheKredible estimates, the company has been valued at around Rs 394 crore or $48 million post-allotment. The company is likely to raise more funds in this round and the valuation may vary after the final tranche. SolarSquare has raised over $20 million to date including its Rs 100 crore ($12 million) Series A round led by Elevation Capital and Lowercarbon in November 2022. According to the startup data intelligence platform TheKredible, Lowercrabon is the largest external stakeholder with 20.29% followed by Elevation Capital which holds 14.99%. Rainmatter and Gruhas Proptech own 3.84% and 2.50% respectively in SolarSquare. Head to TheKredible for the complete shareholding pattern. Founded by Neeraj Jain and Nikhil Nahar, SolarSquare designs, installs, and finances rooftop solar systems for homes. It also provides rooftop solar solutions for housing societies and commercial establishments. The company is yet to file its financial statements for FY24 but its revenue from operations grew 35.4% to Rs 107 crore in FY23. It posted Rs 35 crore loss in the same period. SolarSquare competes with Zunroof, Cleantech, Mysun, Oorjan, and Freyr Energy, among others. In February, the company acquired PV Diagnostics, a company with expertise in the utility scale solar power sector. Update: The story and headline have been updated to reflect Zerodha Technology as Zerodha’s Rainmatter Capital.
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Zerodha's Nikhil Kamath: Bombay is famous for good looking people, but those of Bengaluru are...
Money Control
·
1y ago
Medial
Bengaluru-based billionaire entrepreneur Nikhil Kamath recently spoke about why the city is his favorite startup capital. In a podcast, Kamath highlighted the unique qualities of various metropolitan cities and praised Bengaluru for its people. He stated that the love and kindness of the city's residents make it stand out, despite its poor infrastructure. Kamath also emphasized Bengaluru's access to talent, especially for startups, and mentioned ongoing projects to make the city "cooler," including planting 10,000 cherry blossom trees.
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Exclusive: Subko Coffee raises Rs 80 Cr led by NKSquared
Entrackr
·
1y ago
Medial
Subko Coffee has raised Rs 80 crore in a new round led by Zerodha co-founders-backed NKSquared, said two sources aware of the investment. Several individuals along with Blume Ventures and Progressive LLP also participated in the financing round. “NKSquared has put in around Rs 70 crore whereas the remaining Rs 10 crore came from other investors,” said one of the sources requesting anonymity as talks are yet to be public. The company has received $5.5 million (Rs 45 crore) and NKSquared has already invested Rs 34.2 crore, according to the Subko Coffee regulatory filings with the Registrar of Companies (RoC). Blume Ventures and Progressive Strategies LLP collectively invested Rs 4.75 lakh. Pallavi Dempo, Suprapadh S Manohar, John Abraham, Kalpathi Ratna, and Suparna Gupta also took part in the financing round. As per sources, NKSquared has also acquired a 25% stake in the Mumbai-based firm. Subko Coffee has been valued at around $35-40 million (post-money), said the person quoted above. Queries sent to Subko Coffee NKSquared and Subko Coffee didn’t elicit any immediate response. We will update the story in case they respond. NKSquared was incorporated by Kamath brothers in 2019 but it became active last year and backed a few companies, including Nazara Games. Subko Coffee provides caffeinated drinks along with baked bread-pastries and coffee roasters. According to its filings, several celebrities such as Gauri Khan, Tiger Shroff, and others invested in the company between June 2022 to December 2023. Subko Coffee has been growing at a rapid clip and this could be evident from its growth in the last fiscal year. Its revenue spiked 94% to Rs 13.57 crore in FY23 from Rs 7 crore in FY22 while the firm’s losses stood at Rs 9.86 crore in the same period. Subko Coffee competes with Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co. Notably, Third Wave Coffee is also backed by Zerodha’s co-founder Nikhil Kamath.
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