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Exclusive: R for Rabbit to raise $27 Mn in primary and secondary capital

EntrackrEntrackr · 8m ago
Exclusive: R for Rabbit to raise $27 Mn in primary and secondary capital
Medial

Exclusive: R for Rabbit to raise $27 Mn in primary and secondary capital D2C baby products brand R for Rabbit is raising Rs 110 crore (around $13 million) primary capital in a Series B round led by Filter Capital, with participation from 3one4 Capital. As per the company’s regulatory filings sourced via the Registrar of Companies, the board passed a special resolution to issue 1,839 Series B CCPS at an issue price of Rs 5,98,202 per share to raise the above sum. Filter Capital will lead the primary round with an infusion of Rs 70 crore, while 3one4 Capital will chip in with Rs 40 crore in the new round. Alongside the primary round, the company also facilitated a secondary transaction, enabling early investor Xponentia Capital to fully exit with Rs 120 crore, according to regulatory filings reviewed by Entrackr. The exit was led by 3one4 Capital. As per estimates, Xponentia earned a 3X return on its investment in 2021. Prior to the Series B round, R for Rabbit has secured a total of Rs 40 crore from Xponentia Capital partners. In 2023, Negen Capital also invested in the direct-to-customer baby care brand. R for Rabbit declined to comment on the story, while queries sent to 3one4 Capital remained unanswered at the time of publishing. The company will use the funds for the expansion of the business, the filing further added. According to Entrackr’s estimates, R for Rabbit has been valued at approximately Rs 850 crore ($100 million) post-money. Post this round, 3one4 Capital has emerged as the largest external stakeholder with a 14.12% stake, followed by Filter Capital at 10.6%. Co-founders Kunal and Kinjal Popat collectively retain 69.2%. Founded by husband-wife duo Kunal and Kinjal Popat, R for Rabbit caters to the baby products segment with a wide range of offerings, including strollers, car seats, high chairs, and more. According to its website, the company has more than 2,000 offline channel partners and has a customer base of more than 5 million parents. While R for Rabbit has yet to file its FY25 number, its revenue from operations grew 31% year-on-year to Rs 170 crore, with net profits of Rs 2.21 crore during the fiscal year ended March 2024 (FY24).

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R for Rabbit raises $27 Mn led by Filter Capital and 3one4 Capital

EntrackrEntrackr · 7m ago
R for Rabbit raises $27 Mn led by Filter Capital and 3one4 Capital
Medial

R for Rabbit raises $27 Mn led by Filter Capital and 3one4 Capital The proceeds will be used to fuel growth, strengthen omnichannel distribution, enhance product innovation, and expand digital initiatives, R for Rabbit said in a press release. Direct-to-consumer (D2C) baby products brand R for Rabbit has raised a $27 million round co-led by growth investment firm Filter Capital and early-stage venture capital firm 3one4 Capital. The round, comprising primary capital infusion and a secondary share sale, marked the exit of early backer Xponentia Capital, a private equity firm that had invested about $4.5 million in the firm in 2021. Co-founded by husband-wife duo Kunal and Kinjal Popat, R for Rabbit caters to the baby products segment with a wide range of offerings, including strollers, car seats, high chairs, and more. The company has more than 2,000 offline channel partners and has a customer base of more than 5 million parents. “India’s babycare industry is on a strong upward curve. With rising disposable incomes and discerning parents seeking uncompromised safety and quality, the market is ripe for brands that can deliver on those expectations,” said Kunal Popat, co-founder & CEO of R for Rabbit. The brand claims to have recorded a revenue compound annual growth rate of over 35% since FY21, with its annual run rate (ARR) for FY25 surpassing $30 million. While R for Rabbit has yet to file its FY25 numbers, its revenue from operations grew 31% year-on-year to Rs 170 crore in FY25, with the net profits of Rs 2.21 crore during the fiscal year.

Exclusive: Whatfix bags $100 Mn in primary and secondary capital

EntrackrEntrackr · 1y ago
Exclusive: Whatfix bags $100 Mn in primary and secondary capital
Medial

SaaS-based digital adoption solution provider Whatfix has scooped nearly $100 million in primary and secondary funding led by Sweet Nectar Investments (Warburg Pincus) and SoftBank. With this, the Bengaluru-based company has marked its first funding round in the last three years. The board at Whatfix has passed a special resolution to issue 13,201 Series E compulsory convertible preference shares (CCPS) at an issue price of Rs 2,24,788.44 per share to raise Rs 296.74 crore in primary capital, the company’s regulatory filings with the Registrar of Companies show. Additionally, the transaction also includes secondary funding worth nearly Rs 530 crore, the filings reveal. Whatfix aims to use the primary proceeds to expand and grow the business. Sweet Nectar Investments (Warburg Pincus) led the round with Rs 615 crore (Rs 271.7 crore primary and Rs 343.2 crore secondary) while the company’s existing backer SoftBank poured in Rs 210.5 crore (Rs 25 crore primary and Rs 185.5 crore secondary) funding. The secondary funding has been extracted from taking the same issue price under consideration. However, the transaction could also have taken place at a discount rate which reduces the overall amount raised. As per the startup intelligence platform TheKredible, Whatfix has been valued at around Rs 6,871 crore or $820-830 million (post-money). It has raised over $140 million before the fresh funding round. In June, the Economic Times reported that Whatfix is in talks to raise a new round which will see partial exits of early investors Helion Venture Partners and Eight Roads Ventures. Post allotment of the round, SoftBank increased its stake to 15.51% while Warburg Pincus’ Sweet Nectar Investments acquired 8.94% shares in the company (including the secondary transaction). Queries sent to Whatfix did not elicit an immediate response. Founded by Khadim Batti and Vara Kumar, Whatfix provides in-app guidance and performance support for web applications and software products. Its tools can be used by large companies and organizations, and integrated into their own apps to help guide the workforce in using them more efficiently. Whatfix recorded a 65.7% growth in revenue from operations to Rs 285 crore while its losses also went up 31.2% to Rs 328 crore in FY23. Importantly, Whatfix generated the entire revenue from global markets: America, Europe, Asia Pacific, and the Middle East region. About 61% of the revenue emerged from the US followed by Europe. The company is yet to reveal its FY24 numbers.

Exclusive: Vecmocon to raise $8.7 Mn; Tessellate Ventures exits with 10X return

EntrackrEntrackr · 9m ago
Exclusive: Vecmocon to raise $8.7 Mn; Tessellate Ventures exits with 10X return
Medial

Exclusive: Vecmocon to raise $8.7 Mn; Tessellate Ventures exits with 10X return Vehicle intelligence company Vecmocon Technologies is raising Rs 74 crore (around $8.7 million) from Aavishkaar Capital and existing investors Ecosystem Integrity Fund (EIF), Blume Ventures, in a mix of primary and secondary transactions. This funding is an extension of the $10 million Series A round raised in November last year. Vecmocon’s board has approved a resolution to issue 12,067 preference and equity shares to raise Rs 50.4 crore in a primary capital where Ecosystem Integrity Fund (EIF) will pump Rs 21 crore, and the rest will be injected by Aavishkaar Capital, according to its regulatory filing with the RoC. In a secondary transaction worth Rs 23.7 crore, early backer Tessellate Tech Ventures is making a full exit from EV components startup Vecmocon. The firm has offloaded its 2.97% stake for Rs 15.85 crore, netting over 10X returns on its initial Rs 1.5 crore investment, as per filings. Moreover, individual investors Tina Goyal, Nishit Aggarwal, and Satyam Darmora are making a full exit, while the co-founders will partially offload shares. Together, they are selling shares worth Rs 7.85 crore to Blume and Aavishkaar in a secondary transaction. As per Entrackr’s estimates, the Tiger Global-backed company will be valued at around Rs 533 crore or $63 million (post-allotment). Vecmocon is an electric vehicle (EV) solutions provider that offers a range of products and services to EV manufacturers. Its product lineup includes battery management systems, vehicle intelligence modules, instrument clusters, and chargers. It also provides services such as fleet management and maintenance support. According to startup data intelligence platform TheKredible, Vecmocon has raised approximately $15.7 million to date. Following the latest round, Blume Ventures will be the largest external shareholder with a 13.27% stake, followed by Ecosystem Integrity Fund (EIF) at 12.6%. Aavishkaar Capital and Tiger Global will hold 7.51% and 7.17% stakes, respectively. For the fiscal year ending March 2024, the Delhi-based company recorded nearly a 4X year-on-year surge in operating revenue to Rs 15.87 crore. However, it reported a loss of Rs 6 crore during the same period.

Exclusive: GIVA raising $12 Mn in extended Series C round

EntrackrEntrackr · 26d ago
Exclusive: GIVA raising $12 Mn in extended Series C round
Medial

Omnichannel jewelry startup Giva is set to raise Rs 110 crore (around $12 million) in its Series C extension round led by HPV CC1 ltd, with the participation from Premji Invest, Kenro Capital, and Titan Capital. The fresh investment came nine months after GIVA raised Rs 530 crore ($61.5 million) in its Series C round led by Creaegis, with participation from Premji Invest, Epiq Capital, and Edelweiss Discovery Fund. The board at Giva passed a resolution to approve the issuance of 94,01,710 Series C1 CCPS at an issue price of Rs 117 each to raise the aforementioned sum, its regulatory filing accessed from RoC shows. HPV CC1 Ltd will lead the tranche with Rs 74.25 crore ($8.25 million), followed by Kenro Capital, which will invest primary capital of Rs 13.75 crore. Premji Invest via PI Opportunities Fund II and Titan Capital via Winners Fund will be injecting Rs 11 crore each. The company will use the proceeds for operational expenses, including hiring, marketing, and other general corporate purposes, as per filings. According to Entrackr’s estimates, the firm’s valuation will rise to around Rs 4,900 crore ($545 million), which represents a 22% increase from its previous valuation of about Rs 4,000 crore when it raised Rs 530 crore. Founded in 2019, Giva originally launched as an affordable jewelry brand, has expanded into gold jewelry and lab-grown diamonds. Led by Ishendra Agarwal, the company now operates around 150 physical stores across India, alongside its website and app, and has adopted a franchise-led model to further expand its reach. The Bengaluru-based firm has raised over $146 million to date, including its Rs 255 crore Series B round, which was a mix of primary and secondary transactions led by Premji Invest and Epiq Capital. For the fiscal year ended March 2025, the jewelry brand’s operating revenue jumped 89% to Rs 518 crore from Rs 274 crore in FY24. However, its losses also grew 22% to Rs 72 crore during the same period.

Decoding Atlum Credo’s $40 Mn primary and secondary round

EntrackrEntrackr · 1y ago
Decoding Atlum Credo’s $40 Mn primary and secondary round
Medial

Digital payments company Altum Credo recently announced $40 million in its Series C round led by Z3Partners and Oikocredit. Apart from primary capital, the company also offered partial exit to its backers. While the company didn’t disclose any details besides round size and investors, Entrackr has reviewed its regulatory filings to decode details such as round break up, shareholding, valuation, and secondary component in the deal. The board at Altum Credo has passed a special resolution to issue 300 equity and 1,99,99,700 Series C CCPS at an issue price of Rs 114 each to raise Rs 228 crore or $27 million as a primary capital, its regulatory filing accessed through the Registrar of Companies shows. Oikocredit and Z3 Partners (BII) invested Rs 80 crore and Rs 85 crore while British International Investment, Amicus Capital, and Avishkaar India pumped in Rs 26 crore, 12 crore, and 25 crore, respectively, in primary fundraising. According to the shareholder agreement between investors, there is also a secondary transaction where 1,03,96,040 shares have been sold worth Rs 118.5 or $14 million. Out of Rs 118.5 crore of secondary transactions, ABF (Avishkar Bharat Fund) sold Rs 79 crore worth of shares while promoters sold Rs 13.54 crore worth of shares. PS Pai and family purchased Rs 79 crore worth of shares in the secondary transactions from Avishakkar Bharat Fund and promoters. According to TheKredible’s estimates, the company has been valued at around Rs 1165 crore or $149 million post-allotment. Altum Credo provides financial accessibility for first-home buyers across semi-urban and rural areas of India. It provides home loans in the range of Rs 4 lakh to Rs 40 lakh for a tenure of 5-20 years. Following the fresh proceeds, Avishkaar remains the largest external stakeholder with 15.92% followed by Amicus Capital. Oikocredit and Z3 Partners command 7.62% and 8.09% stake of the company. Head to TheKredible for the complete shareholding pattern. While the company is yet to file its financial statements for FY24, Altum Credo’s revenue from operations scaled 102.4% to Rs 67.2 crore in FY23. As per TheKredible, its profit shot up 99% to Rs 8.95 crore during FY23.

IDfy raises $53 Mn led by Neo Secondaries Fund

EntrackrEntrackr · 1m ago
IDfy raises $53 Mn led by Neo Secondaries Fund
Medial

IDfy raises $53 Mn led by Neo Secondaries Fund Trust and regtech platform IDfy has raised Rs 476 crore (around $53 million) in a Series F funding round comprising both primary and secondary transactions. The round was led by Neo Asset Management through its Neo Secondaries Fund, with participation from existing investors Blume Ventures, Analog Capital, Elev8, IndiaMART, and Kae Capital. The proceeds from the primary capital will be used for strategic acquisitions, expansion into new international markets, and further development of its product offerings. The secondary portion of the round will provide liquidity to early investors and employees. Founded in 2011, IDfy offers an integrated TrustStack platform covering digital onboarding, risk mitigation, fraud detection, and privacy governance. The company serves over 500 enterprise clients across more than 10 sectors and conducts over 500 million verification checks annually. IDfy has operations across seven countries, including India, Southeast Asia, and the Middle East. The funding comes amid increasing demand for identity verification, fraud detection, and privacy compliance solutions globally, driven by rising digital transactions and evolving regulatory requirements. In India, the rollout of the Digital Personal Data Protection (DPDP) Act and higher budgetary allocation for digital infrastructure have contributed to the growth of the regtech ecosystem. According to Entrackr, IDfy has raised over $120 million to date, including a $27 million round comprising primary and secondary transactions from Elev8, KB Investment, and Tenacity. On the financial front, IDfy reported operating revenue of Rs 186 crore in FY25, compared to Rs 145 crore in FY24. The company also reported a net profit of Rs 1.6 crore during the year, compared to a loss in the previous fiscal year.

R for Rabbit doubles revenue in two years, crosses Rs 250 Cr in FY25

EntrackrEntrackr · 5d ago
R for Rabbit doubles revenue in two years, crosses Rs 250 Cr in FY25
Medial

R for Rabbit doubles revenue in two years, crosses Rs 250 Cr in FY25 D2C baby products brand R for Rabbit has nearly doubled its scale over the past two years, growing from Rs 128 crore in FY23 to around Rs 250 crore in FY25. Despite the rapid expansion, the company managed to maintain a near break-even position during the last fiscal year. R for Rabbit’s revenue from operations increased 47.6% year-on-year to Rs 251 crore in FY25 from Rs 170 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies. Founded by husband-wife duo Kunal and Kinjal Popat, R for Rabbit operates in the baby products segment with a wide portfolio that includes strollers, car seats, high chairs, and other childcare essentials. Revenue from the sale of products remained the company’s sole source of income. According to its website, the company has more than 3,000 offline channel partners and serves a customer base of over 5 million parents. For the Ahmedabad-based company, the cost of materials consumed remained the largest expense, accounting for 62% of total costs. In line with its scale, this cost rose 40% to Rs 155 crore in FY25. Meanwhile, employee benefit expenses increased 37.5% during the same period. The company’s marketing and advertising expenses jumped 60% year-on-year to Rs 24 crore, while other overheads, including freight, legal, auditor, and miscellaneous costs, pushed total expenses up by 48.2% to Rs 252 crore in FY25 from Rs 170 crore in FY24. Despite the aggressive growth, where the company nearly doubled its revenue in two years, R for Rabbit remained close to breakeven, reporting a marginal loss of Rs 14 lakh in the last fiscal year. On a unit level, the company spent Rs 1 to earn a rupee in FY25. Its ROCE and EBITDA margins stood at 9.53% and 2.33%, respectively. As of March 2025, the company reported total current assets of Rs 115 crore, including cash and bank balances of Rs 12 crore. R for Rabbit has raised around $32 million in funding to date, including a $23 million primary and secondary Series B round at a valuation of $100 million. While many D2C brand segments have relied heavily on venture funding to fuel growth, R for Rabbit’s steady scale and controlled losses highlight a more capital-efficient approach. As India’s baby care market continues to shift toward branded and safety-certified products, the company could have enough room to expand both online and offline.

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