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Rusk Media to raise $8.5 Mn in Series B

EntrackrEntrackr · 3m ago
Rusk Media to raise $8.5 Mn in Series B
Medial

Rusk Media, a digital entertainment company, is raising Rs 74 crore (approximately $8.5 million) in its Series B round led by Woori Venture Partners, with the participation of New Emerging Technologies Fund, LC Nueva Investment Partners, and other investors. The board at Rusk Media has passed a special resolution to issue 11,663 Series B compulsory convertible preference shares at an issue price of Rs 63,493 each to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. Woori Venture Partners will lead the round with an investment of Rs 26 crore, while New Emerging Technologies Fund, LC Nueva Investment Partners, and Yashaa Global Capital will contribute Rs 16.5 crore, Rs 15 crore, and Rs 10 crore, respectively. The remaining amount will be collectively invested by Info Edge, LetsVenture, and Nodwin Gaming. As per filings, the funds would be utilized for growth and working capital needs in line with the company's business plan. A separate filing reveals that Rusk Media's board has approved a resolution to expand its ESOP plan with 2,828 employee stock options worth Rs 18 crore and its MSOP plan with 5,656 management stock options valued at Rs 35.9 crore. The company has raised around $20 million to date, including its $9.5 million Series A led by DAOL Investment and Audacity Ventures. According to Entrackr’s estimates, the company will be valued at around Rs 468 crore or $54 million post-allotment. The New Delhi-based company is known through its content and IPs on social channels Alright! and Playground with over 500 million monthly views, and their shows on OTT platforms. Rusk Media has recorded a 40.6% yearly growth in its revenue to Rs 56.8 crore in the previous fiscal year (FY24). At the same time, the firm’s losses were reduced by 56% to Rs 28.7 crore.

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Exclusive: Battery tech startup Lohum raises $14.5 Mn more in Series B

EntrackrEntrackr · 1y ago
Exclusive: Battery tech startup Lohum raises $14.5 Mn more in Series B
Medial

Lohum Cleantech, a producer of clean energy transition materials through battery recycling and repurposing, has raised Rs 119 crore (approximately $14.5 million) as a part of its ongoing Series B round. The board at Lohum has passed a special resolution to issue 844 Series B2 CCPS at an issue price of Rs 14,13,632 each to raise Rs 119.31 crore, its regulatory filing accessed from the Registrar of Companies shows. Singularity Growth led the tranche with Rs 55 crore while Vyoman India and Baring Private Equity poured in Rs 11 crore and Rs 10 crore, respectively. Angel investors Mukul Mahavirparasad Agarwal and Madhuri Madhusudan invested Rs 11 crore and Rs 10 crore each. The company has passed a separate board resolution to issue 2,501 debentures to Stride Ventures debt fund to raise Rs 25 crore. Lohum will use these proceeds for the capital expenditures, marketing, and general corporate purposes of the company as per the business plan approved by the board, the company said in the filing. Following the fresh funds, Baring Private Equity holds 5.58% while Cactus Partners and Singularity Growth Opportunities command 2.89% and 1.62%, respectively, in the firm. According to the startup data intelligence platform TheKredible, the company has been valued at around Rs 3,470 crore or $422 million post-allotment. The company had previously raised $7 million in January 2021. It has already raised $23 million as part of the series B, which kicked in August last year. As per media reports, it was in talks to raise $100 million in Series B. Lohum claims to be one of the largest producers of sustainable energy transition materials through integrated battery recycling & raw material refining and battery repurposing. As per Lohum, its lithium-ion battery material recycling and extraction technology regenerates top-quality materials and produces zero waste. It repurposes EV batteries to make second-life energy storage systems (ESS) for renewable energy storage and grid stabilization. Lohum has shown an impressive financial performance with its revenue surging 2.9X to Rs 308 crore in FY23 from Rs 106 crore in FY23. The company also posted a profit of Rs 8.88 crore in the same period.

Decoding Ultrahuman’s Series B: Deepinder Goyal pumped in $10 Mn

EntrackrEntrackr · 1y ago
Decoding Ultrahuman’s Series B: Deepinder Goyal pumped in $10 Mn
Medial

Wearable tech startup Ultrahuman had raised $35 million in a mix of debt and equity in its Series B round led by Deepinder Goyal and existing investors Blume Ventures, Steadview Capital, Nexus VP, and Alpha Wave. While the company didn’t disclose about Goyal leading the round, Entrackr has decoded his investment along with others including Ultrahuman’s cap table and valuation through its regulatory filings. The board at Ultrahuman passed a special resolution to allot 6,979 Series B CCPS at an issue price of Rs 3,00,170 each to raise Rs 209.4 crore or $25 million, its regulatory filing accessed from the Registrar of Companies shows. Zomato’s co-founder Goyal led the round with Rs 83 crore while Alpha Wave and Blume Ventures infused Rs 66.34 crore and 29.86 crore, respectively. Nexus Venture Partners, Steadview Capital, and Panthera Capital participated with Rs 12.42 crore, Rs 13.77 crore, and Rs 4.14 crore. At the time of announcement, Ultrahuman said that the Series B round consisted of $25 million equity and $10 million debt. It’s worth noting that Ultrahuman’s co-founders Mohit Kumar and Vatsal Singhal sold their first startup Runnr to Zomato in September 2017. Zomato leveraged Runnr which merged with Mumbai-based TinyOwl to raise its own delivery fleet. Ultrahuman has raised over $60 million, including $35 million in Series B and $17.5 million in Series A in October 2022. As per TheKredible estimates, the company has been valued at around Rs 1,039 crore or $125 million (post-allotment of Series B round). Following the fresh proceeds, Nexus emerged as the largest external stakeholder with 17.26% followed by Alpha Wave’s 14.8% stake. Goyal holds 8.58% of the company. The company also has an ESOP pool of around 10.84% Head to TheKredible for the complete shareholding pattern. Ultrahuman is a self-quantification platform that provides a smart ring called Ring Air, a glucose monitoring wearable M1 Live, and a blood testing product called Blood Vision, among others. Ultrahuman demonstrated impressive financial performance in FY23 and its operating revenue flew 4X to Rs 30 crore. At the same time, the company’s losses grew only 21.4% to Rs 71 crore during the same period. Levels Health, Super Sapiens and Oura are the global peers of Ultrahuman.

Eloelo kicks off Series B round with $13 Mn

EntrackrEntrackr · 3m ago
Eloelo kicks off Series B round with $13 Mn
Medial

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.

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