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Exclusive: Rainmatter leads InfinityBox’s pre-Series A round

EntrackrEntrackr · 6d ago
Exclusive: Rainmatter leads InfinityBox’s pre-Series A round
Medial

Jaipur-based reusable packaging startup InfinityBox has raised Rs 14.1 crore in a Pre-Series A funding round led by existing investor Rainmatter, with participation from existing investors AAR EM Ventures and Capital-A. InfinityBox’s board has approved the issuance of 26,394 Pre-Series A compulsorily convertible cumulative preference shares at an issue price of Rs 5,342 per share for Rs 14.09 crore, its filings with the Registrar of Companies show. Rainmatter led the round with an investment of Rs 12 crore. The pre-series A round also saw participation from AAR EM Ventures LLP with Rs 1.5 crore, Manjushree Capital Advisors with Rs 50 lakh, and Dhyanesh Shah, who invested Rs 9.98 lakh. The company plans to use the fresh proceeds for expansion, product development, capital expenditure, and working capital requirements. As per Entrackr’s estimates, InfinityBox’s valuation has increased to around Rs 87 crore post-money, up from about Rs 48 crore in its previous round. Founded by Shashwat Gangwal and Keshav Godala, InfinityBox operates a reusable packaging platform for food delivery and restaurants, enabling businesses to replace single-use containers with a circular, returnable packaging system. Post allotment, Rainmatter will become the largest external shareholder with 13.78%, followed by Manjushree Capital Advisors with 3.36%, AAR EM Ventures LLP with 3.11%, and Dhyanesh Shah with 0.11%. InfinityBox recorded a 3.1X growth in its operating revenue to Rs 17.81 crore in FY25 from Rs 5.70 crore in FY24, while its losses narrowed sharply to Rs 63.3 lakh from Rs 3.45 crore in the previous fiscal year (FY24).

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Exclusive: Rainmatter Capital-backed Age Care Labs to kick off Series B round

EntrackrEntrackr · 6m ago
Exclusive: Rainmatter Capital-backed Age Care Labs to kick off Series B round
Medial

Exclusive: Rainmatter Capital-backed Age Care Labs to kick off Series B round Eldercare platform Age Care Labs, which operates brands Emoha and Epoch, is raising Rs 50 crore (approximately $6 million) in its Series B round from Cork Products, Plutus Wealth Management, and other investors. The board at Emoha has passed a special resolution to issue 22,87,596 Series B preference shares at an issue price of Rs 218.6 each to raise the amount, according to the company’s regulatory filings sourced from the Registrar of Companies (RoC). As per the filings, the company has already received around Rs 31 crore from Cork Products, Plutus Wealth Management, Founders Collective Fund, Keymarrisa Realtors Private Limited, and individual investors, including Neeraj Aggarwal and Utpal Hemendra Sheth. The remaining funds are expected to be infused shortly. The company said the proceeds will be used to augment its capital base, meet long-term financial requirements, and for general corporate purposes. This appears to be part of a larger Series B round, with the possibility of raising additional capital in the ongoing tranche. As per Entrackr’s estimates, the company will be valued at around Rs 500 crore (approximately $59 million) post-allotment. The valuation could rise further if it secures additional funding in the ongoing round. Age Care Labs, which runs in-home eldercare platform Emoha and assisted-living and dementia care chain Epoch, offers subscription-based services including 24/7 emergency support, health monitoring, wellness programs, and community engagement for seniors. Epoch follows an asset-light model by leasing properties and partnering with operators, while the broader company scales through franchise partnerships, institutional tie-ups, and acquisitions. The two brands together serve over 60,000 seniors across 120 cities. The company has raised over $20 million to date, including an $11 million pre-Series B round in 2023 led by Rainmatter Capital (the investment arm of Zerodha) and Gruhas (a venture capital fund co-founded by Nikhil Kamath and Abhijeet Pai).

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation

EntrackrEntrackr · 2m ago
Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation
Medial

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation Wint Wealth is raising Rs 120 crore (approximately $13.3 million) in its Series B funding round led by Vertex Ventures. This marks the Bengaluru-based startup’s first major fundraise in over three and a half years. Wint Wealth’s board has passed a special resolution to issue 94,047 Series B compulsory convertible preference shares at an issue price of Rs 12,804 each to raise Rs 120 crore or $13.3 million, according to the filings sourced from the Registrar of Companies. Vertex Ventures will lead the round with an investment of Rs 77.52 crore, while Unitary Fund, Eight Roads Ventures, and 3one4 Capital will infuse Rs 18.7 crore, Rs 13 crore, and Rs 8.16 crore, respectively. Zerodha’s incubation arm, Rainmatter, will also participate in the Series B with a Rs 3 crore investment. As per filings, the company plans to utilise the proceeds towards capital expenditure, marketing, and general corporate purposes. Based on Entrackr’s estimates, the wealth management startup is raising fresh capital at a post-money valuation of around Rs 707 crore (nearly $80 million). The company may raise additional capital as part of the Series B round, which could lead to changes in its valuation and shareholding structure. Post this round, Vertex Ventures will hold a 10.96% stake in Wint Wealth, while 3one4 Capital, Unitary Fund, Rainmatter, and ERVI Technology, an arm of Eight Roads Ventures, will own 8.54%, 8.32%, 2.55%, and 1.84%, respectively, according to the filings. Wint Wealth is yet to file its FY25 numbers. In FY24, the company posted Rs 17.2 crore operating revenue with a loss of Rs 18 crore.

Exclusive: SolarSquare raises fresh funds from Zerodha's Rainmatter, Gruhas, others

EntrackrEntrackr · 1y ago
Exclusive: SolarSquare raises fresh funds from Zerodha's Rainmatter, Gruhas, others
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.

Exclusive: Battery Smart kicks off pre-Series C funding round

EntrackrEntrackr · 6d ago
Exclusive: Battery Smart kicks off pre-Series C funding round
Medial

Exclusive: Battery Smart kicks off pre-Series C funding round Battery Smart has initiated its pre-Series C funding round. While the size of the round is unknown, Acacia Inclusion, Blume Ventures and PC-SBI Kurashi Visionary Fund have already invested over $7 million. According to its regulatory filings with the Registrar of Companies, the board of Battery Smart has passed a special resolution to allot 12,158 pre-Series C compulsory convertible preference shares at an issue price of Rs 54,407 each for Rs 66 crore (approximately $7.4 million). Acacia Inclusion led the round with an investment of Rs 36.3 crore, followed by PC-SBI Kurashi Visionary Fund with Rs 17.8 crore, while Blume Ventures joined the pre Series C round with Rs 12 crore. The proceeds will be used to support business expansion, capital expenditure, working capital requirements, and other general corporate purposes, as per filings. Battery Smart offers lithium-ion batteries for electric two- and three-wheelers that can be swapped within minutes at its network of swapping stations. Through its battery-as-a-service (BaaS) model, the company enables users, particularly gig economy drivers, to avoid the upfront cost of owning batteries. To date, Battery Smart has raised around $192 million in funding, including its $65 million Series B round and $29 million extended Series B round. Its cap table includes prominent investors such as Tiger Global, Blume Ventures, and Ecosystem Integrity Fund. On the financial front, the company reported a 52% year-on-year increase in operating revenue to Rs 249 crore in FY25, up from Rs 164 crore in FY24. Battery Smart also stated that it has achieved operating break-even and turned EBITDA positive.

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