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RPSG Capital Ventures closes Fund II at Rs 550 Cr

EntrackrEntrackr · 1y ago
RPSG Capital Ventures closes Fund II at Rs 550 Cr
Medial

Early-stage consumer venture capital fund RPSG Capital Ventures has announced the close of its latest Fund II with Rs 550 crore. The investor base for this fund is largely domestic including family offices, high net worth individuals and industry veterans from the consumer sector. Along with other repeat investors from its previous funds, RPSG group itself has doubled their initial investment as the anchor investor. RPSG Capital Ventures has invested into 16 companies till date that includes brands such as The Souled Store, Supertails, Perfora, mCaffeine, Vedix, SkinKraft, Plix, and True Elements amongst others. “With this new Fund, we’ll continue to invest into new age consumer businesses that have solid unit economics, differentiated positioning, and strong teams.” said Abhishek Goenka, partner at RPSG Capital Ventures. The fund invests in Series A rounds with first cheques of Rs 10 to Rs 40 crore in the digitally native consumer ecosystem across F&B, beauty, health and wellness, entertainment, lifestyle goods and consumer enabler categories.

Exclusive: Good Monk to top up pre-Series A at 2.7X valuation premium

EntrackrEntrackr · 1h ago
Exclusive: Good Monk to top up pre-Series A at 2.7X valuation premium
Medial

Exclusive: Good Monk to top up pre-Series A at 2.7X valuation premium Good Monk, the flagship brand of Superfoods Valley, is set to top up its pre-Series A round with Rs 25 crore ($2.7 Mn) in funding, led by existing investor RPSG Capital Ventures, with participation from Sharrp Ventures and others. This will be an extension of the company’s pre-Series A round, following its $2 million raise in April last year led by RPSG Ventures, with participation from Multiply Ventures, Sharrp Ventures, and ThinKuvate. The Good Monk’s board has passed a resolution to approve the issuance of 3,334 pre-Series A4 CCPS at an issue price of Rs 74,652.86 per share, to raise the aforementioned sum, according to its filings with the Registrar of Companies (RoC). RPSG Capital Ventures will lead the infusion with Rs 15.8 crore, followed by Sharrp Ventures, which will invest Rs 4.5 crore. The remaining amount will be contributed by Aashray Family Trust and angel investors Manmohan Singh, Srivar Harlalka, and Narinder Sawhney. According to Entrackr’s analysis, the company’s valuation will jump over 2.7X to Rs 175 crore, from Rs 64 crore in the previous round. The proceeds will be used to scale operations and expand the business. Founded by husband-and-wife duo Amarpreet Singh Anand and Sahiba Kaur, Good Monk offers nutrition products, including multivitamin and probiotic mixes and fiber supplements for kids and adults. It retails through its own website as well as leading e-commerce platforms, including Amazon, Flipkart, Blinkit, and Zepto. The Bengaluru-based company had raised nearly $3 million prior to this round. The startup recently appeared on Shark Tank Season 4 and secured a deal from Vineeta Singh, co-founder of Sugar Cosmetics. Following the infusion, RPSG Capital Ventures will hold a 19.78% stake in the company, while Sharrp Ventures will own 6.81%. The co-founders will collectively retain around a 40.18% stake. RPSG Capital is a notable investor in the health and wellness space and has backed several startups, including Nutrabay, Plix, and True Elements.

Exclusive: Nikhil Kamath-backed Gruhas invests in Shark Tank fame Bummer

EntrackrEntrackr · 1y ago
Exclusive: Nikhil Kamath-backed Gruhas invests in Shark Tank fame Bummer
Medial

Shark Tank fame direct-to-consumer (D2C) innerwear brand Bummer has raised Rs 9.25 crore led by Gruhas Consumer Fund along with the participation of Fluid Ventures Fund. The board at Bummer has passed a special resolution to issue 2,16,121 pre-series A1 CCPS at an issue price of Rs 428 each to raise Rs 9.25 crore, its regulatory filing sourced from the RoC shows. Gruhas Consumer Fund pumped in Rs 8 Cr while Fluid Ventures Fund participated with Rs 1.25 crore in the new round. Gurhas is a venture capital fund co-founded by Nikhil Kamath and Abhijeet Pai. The company will use the proceeds to expand and develop its categories, according to the filings. Founded in 2019, Bummer sells comfort wear and innerwear for both men and women. The company claims that its products use 47% less water for manufacturing and reduce carbon footprint by 18%. Following the fresh proceeds, Gruhas became the largest stakeholder with 17.3%, followed by Beenext Asia, Fluid Ventures, and Thapar Vision LLP. Its founder and CEO Sulay Lavsi along with his family command 45.97% of the company. As per TheKredible’s estimates, the company has been valued at around Rs 46.5 crore or $5.6 million post-allotment. Before this, Bummer had raised 180K from Singapore’s Beenext and Rs 75 lakh on TV show Shark Tank India led by Aman Gupta, co-founder and CMO of boAt and Namita Thapar, CEO of Emcure Pharmaceuticals. During the previous fiscal year that ended March 2023, Bummer’s revenue from operations surged three-fold to Rs 7.83 crore while the losses of the firm spiked 2.8X to Rs 2.94 crore in the same period.

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