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Exclusive: Servify valued at around $700 Mn in Series D

EntrackrEntrackr · 10m ago
Exclusive: Servify valued at around $700 Mn in Series D
Medial

Exclusive: Servify valued at around $700 Mn in Series D Post-sales service firm Servify is raising Rs 66.27 crore (approximately $7.8 million) in its ongoing Series D round led by BEENEXT Capital with the participation of Singularity Growth Opportunities Fund. The board Servify has passed a special resolution to issue 2,27,170 Series D3 CCPS at an issue price of Rs 2,917 each to raise Rs 66.27 crore, its regulatory filing sourced from the Registrar of Companies (RoC) shows. BEENEXT Capital, through its BEE Accelerate Fund2, will invest Rs 48.27 crore, with the remaining amount coming from the Singularity Growth Opportunities Fund. According to the valuation report attached by the company, its post-money valuation will be around $690–700 million. Last year, the firm secured $10 million through a mix of equity and debt at a valuation of $852 million. Servify offers brand-authorized after-sales support for mobile phones, personal gadgets, electronics, and home appliances. The platform allows consumers to add their household electronic gadgets onto the platform, store the bills, and access authentic brand-authorized service during or beyond the warranty period. Servify recorded a 23.6% year-on-year growth, with revenue rising to Rs 755 crore during the last fiscal year (FY24) from Rs 611 crore in FY23. However, the company's losses declined sharply by 59% to Rs 94 crore in the same period.

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Exclusive: Servify raises $10 Mn in debt and equity

EntrackrEntrackr · 1y ago
Exclusive: Servify raises $10 Mn in debt and equity
Medial

Post-sales service firm Servify has raised Rs 84 crore ($10 million approximately) in a fresh tranche of a Series D round from Bajaj Holdings, Trifecta, and Innoven Capital in a mix of equity and debt. The board at Servify has passed a special resolution to issue 500 non-convertible debentures and 1,16,555 compulsorily convertible preference shares (CCPS) for a total consideration of Rs 84 crore or $10 million, as per its regulatory filings with the Registrar of Companies (RoC). Bajaj Holdings invested Rs 34 crore through equity, while Trifecta and Innoven Capital contributed the remaining amount equally through debt financing. According to TheKredible estimates, the company has been valued at around Rs 7,074 crore or $852 million post-allotment. Servify offers brand-authorized after-sales support for mobile phones, personal gadgets, electronics, and home appliances. The platform allows consumers to add their household electronic gadgets onto the platform, store the bills, and access authentic brand-authorized service during or beyond the warranty period. The Mumbai-based company has raised around $125 million to date including $65 million in the ongoing Series D round led by Singularity Growth Opportunity Fund in 2022. According to the startup data intelligence platform TheKredible, prior to this tranche, Iron Pillor was the largest external stakeholder with 28.8% followed by Beenext and Blume Ventures which command 9.87% and 8.20% respectively in the company. See TheKredible for the complete shareholding pattern. The device management firm showcased a robust financial standing with over 95% year-on-year growth to Rs 611 crore during the fiscal year ending March 2023. However, the firm’s net losses stood at Rs 229 crore in the same period. The company is yet to file its annual results for FY24.

Exclusive: Wow! Momo set to raise $8.5 Mn in ongoing round

EntrackrEntrackr · 4m ago
Exclusive: Wow! Momo set to raise $8.5 Mn in ongoing round
Medial

Wow! Momo set to raise $8.5 Mn in ongoing round Quick service restaurant chain Wow! Momo is raising Rs 75 crore (approximately $8.5 million) in its ongoing Series D round led by 360 ONE with the participation of Kyrush Investments. This fresh investment comes three months after the company secured Rs 85 crore in debt funding from Stride Ventures, crossing Rs 650 crore in cumulative funding under its Series D round. The board at Wow! Momo has passed a resolution to issue 7,837 Series D6 CCPS at an issue price of Rs 95,699 per share to raise Rs 75 crore, as shown by regulatory filings. 360 One will invest Rs 70 crore, while Kyrush Investments will put in Rs 4.99 crore. Wow! Momo is now valued at around $315-320 million post-money. The company plans to use the proceeds for capital expansion, working capital, and corporate purposes. 360 One Portfolio will hold a 2.53% stake, while Kyrush Investments will own 0.18%. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates over 700 outlets in 70 cities and owns brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. The company plans to expand its FMCG business to Rs 100 crore, grow its HORECA division, and scale to 1,500 stores across 100 cities in three years. According to TheKredible, Wow! Momo’s revenue grew 13% year-on-year to Rs 470 crore in FY24 from Rs 413 crore in FY23, maintaining steady losses at Rs 114 crore. The company is yet to reveal its FY25 numbers.

Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris

EntrackrEntrackr · 8m ago
Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris
Medial

Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris Propelld, an education-focused lending platform, is set to secure Rs 260 crore (around $30.5 million) in its Series D round led by WestBridge Capital with the participation of Stellaris Venture Partners. Propelld’s board passed a special resolution to allot 20,732 Series D compulsory convertible preference shares (CCPS) at an issue price of Rs 1,25,408 each to raise the aforementioned sum, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Westbridge Capital will invest Rs 240 crore ($28 million) via Setu AIF Trust, Konark Trust, and MMPL Trust while Stellaris Venture Partners will contribute Rs 20 crore. The investment will be utilized to meet the company’s working capital needs and capital expenditure for business expansion, the filing added. According to Entrackr’s estimates, the company is valued at around Rs 860 crore or $101 million post-allotment. Founded in 2019 by Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray, Propelld provides education loan financing through 'Study Now, Pay Later' products and Income Sharing Agreements (ISA) via its NBFC arm. The company also offers collateral-free education financing options. Following the latest fundraise, WestBridge will hold a 46.9% stake in the company while Stellaris Venture Partners will hold a 15.69% stake. Propelld competes with other education loans-focused fintech startups like Leap Finance and Grayquest.

Exclusive: The Whole Truth to raise around $34 Mn at $400 Mn valuation in Series D

EntrackrEntrackr · 10d ago
Exclusive: The Whole Truth to raise around $34 Mn at $400 Mn valuation in Series D
Medial

Exclusive: The Whole Truth to raise around $34 Mn at $400 Mn valuation in Series D Clean-label health food brand The Whole Truth is all set to raise Rs 304 crore (around $34 million) in its Series D round led by existing investor Sofina Ventures with the participation from Sauce.VC and Frangipani Capital. Previously, The Whole Truth raised $15 million in a Series C funding round led by Sofina, with participation from Z47, Peak XV Partners, and Sauce.VC in February last year. The board at The Whole Truth has passed a special resolution to approve the issue of 67,596 Series D CCPS at an issue price of Rs 44,993 each to raise the aforementioned sum, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Sofina Ventures is set to lead the Series D round with an investment of Rs 190.2 crore ($21 million), while existing investor Sauce.VC is contributing Rs 110 crore ($12.2 million) and Frangipani Capital has also joined the round with Rs 3.92 crore. The company has already received the investments from Sauce.VC and Frangipani Capital, while Sofina’s capital infusion is yet to be received. The fresh capital will be deployed to meet the company’s financial requirements and support business expansion. According to Entrackr’s estimates, the Mumbai-based firm’s post-money valuation is set to rise 69% to Rs 3,604 crore ($400 million) from Rs 2,135 crore ($254 million) in the previous Series C round. The company may raise more capital in this round and the valuation will vary accordingly. As per a separate filing, in addition to the funding, the company has expanded its ESOP pool by 13,208 options worth Rs 59.42 crore, taking the total ESOP pool value to Rs 221.6 crore ($24.6 million). The Whole Truth sells a wide range of products such as protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli. The platform offers subscription plans and claims that around 80–85% of its sales are generated through its website, with the rest coming from partnerships. The Peak XV-backed company had raised around $38 million prior to this round. Following the latest infusion, Sofina Ventures will hold a 9.28% stake in the company, while Sauce.VC will own a 10.43% stake. The Whole Truth posted a 3.3X year-on-year growth in its revenue to Rs 215.8 crore in FY25 from Rs 65.3 crore in FY24. However, the company’s losses also rose by 18% to Rs 28.15 crore during the same period.

Exclusive: Zepto expands ESOP pool by $169 Mn; total pool at $527 Mn

EntrackrEntrackr · 3m ago
Exclusive: Zepto expands ESOP pool by $169 Mn; total pool at $527 Mn
Medial

Exclusive: Zepto expands ESOP pool by $169 Mn; total pool at $527 Mn Quick commerce company Zepto has expanded its existing ESOP plan by adding additional employee stock options worth over $169 million. The board at Zepto has passed a resolution for approval to add 39.39 lakhs ESOP options to its existing plan, bringing the total ESOP pool to 122.90 lakhs, its regulatory filing with the Registrar of Companies (RoC) shows. According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 1,486 crore (around $169 million), taking the total ESOP pool to Rs 4,637 crore ($527 million). As per the filings, the company is extending an interest-free loan of up to Rs 700 crore to the Zepto Employee Stock Option Trust to facilitate the purchase or subscription of its equity shares under the Zepto Share Option Plan I (ESOP Plan), as approved by the Board. This ESOP expansion coincides with the company’s $450 million Series H funding led by California Public Employees’ Retirement System (CalPERS). As per filings, the company has received a primary injection of Rs 2,562 crore or $291 million from the likes of GC Holdings, Gladebook, Stepstone, Springblue, Goodwater, Lightspeed, and others. The company has raised a total of $2.3 billion since its inception, including $1.8 billion since January last year. Zepto’s revenue for FY24 was Rs 4,454 crore, more than double the Rs 2,026 crore reported in FY23. The company’s losses narrowed slightly from around Rs 1,272 crore in FY23 to Rs 1,249 crore in FY24. As per filings, Zepto clocked a turnover of Rs 11,110 crore ($1.3 billion) in FY25.

Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC

EntrackrEntrackr · 1m ago
Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC
Medial

Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC Quick service restaurant chain Wow! Momo is set to raise another Rs 75 crore ($8.4 million) in its ongoing Series D round from Singularity AMC. This marks the company’s third funding round in 2025, following a Rs 150 crore raise led by Haldiram’s Kamal Agrawal, along with Khazanah and 360 One. Wow! Momo’s board approved the issuance of 7,838 Series D6 CCPS at an issue price of Rs 95,699 each to raise the above-mentioned sum from Singularity AMC, according to its filing with the Registrar of Companies (RoC). As per Entrackr’s estimates, the company will be valued at around Rs 2,838 crore ($316 million) on a post-money basis. The company will utilize the proceeds to fund capital expansion, meet working capital requirements, and for general corporate purposes to support its business growth, the filing added. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates over 700 outlets across 17 cities, housing brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. According to startup data intelligence platform TheKredible, Wow! Momo has raised over $140 million to date, including a $42 million Series D round led by Khazanah in January 2024. Following the latest tranche, Singularity AMC will hold a 2.64% stake in the company. For FY24, Wow! Momo posted a 13% year-on-year growth in operating revenue to Rs 470 crore, compared to Rs 413 crore in the previous fiscal, while its losses remained stable at Rs 114 crore. The company has not yet filed its FY25 numbers.

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