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Exclusive: Stackbox to kick off Series A round at over $40 Mn valuation

EntrackrEntrackr · 21d ago
Exclusive: Stackbox to kick off Series A round at over $40 Mn valuation
Medial

Exclusive: Stackbox to kick off Series A round at over $40 Mn valuation Bengaluru-based logistics tech startup Stackbox is set to raise Rs 23.18 crore (around $2.63 million) from Enrission India Capital and White Whale Ventures in its Series A round. The Stackbox’s board is set to approve the allotment of 1,005 Series A compulsory convertible preference shares at an issue price of Rs 2,30,713 apiece to raise the aforementioned sum, as per its regulatory filing from the Registrar of Companies (RoC). The company has already received Rs 13.2 crore from Enrission India Capital, while funds from White Whale Ventures are expected shortly. According to Entrackr’s estimates, Stackbox’s valuation is expected to be increased by over 30% to Rs 375 crore or $42.6 million, post-money. Founded in 2019, StackBox provides cloud-based, enterprise-grade SaaS solutions to automate and optimize supply chain and distribution operations across sectors such as FMCG, retail, and e-commerce. Its core offerings include an integrated suite of products: Warehouse Management System (WMS), Transport Management System (TMS), Order Management System (OMS), and Route-to-Market (RTM) solutions. According to startup data intelligence platform TheKredible, StackBox has raised over $2 million, including a $1.2 million seed round led by Ecosystem Ventures in August 2021. For the fiscal year ended March 2024, the Bengaluru-based company posted a profit of Rs 6 crore on operating revenue of Rs 25.7 crore. Its FY25 numbers are yet to be disclosed.

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Exclusive: Scaler to raise $40 Mn at reduced valuation

EntrackrEntrackr · 4m ago
Exclusive: Scaler to raise $40 Mn at reduced valuation
Medial

Exclusive: Scaler to raise $40 Mn at reduced valuation Upskilling platform Scaler is finalizing a $40 million fundraise, according to people familiar with the matter. This would be its first funding round in over three years, with the last one, a Series B, in February 2022. “Lighthouse is likely to lead a new funding round in Scaler, with some existing investors also participating. The deal is in its final stages and, barring any last-minute changes, is expected to close in a few weeks,” said a source requesting anonymity due to the private nature of the discussions. Scaler has so far raised over $75 million across rounds from the likes of Lightrock India, Peak XV Partners, and Tiger Global. The firm last raised $55 million in Series B in February 2022 at a valuation of $710 million. However, sources indicated that this will be a down round, with Scaler's valuation expected to plunge to $350–$370 million after the new funding. In response to Entrackr’s queries, Scaler said it does not comment on market speculation, while Peak XV declined to comment. Lighthouse had not responded by the time of publication. Scaler specializes in upskilling college students and technology professionals by offering an intensive six-month computer science program. The course is delivered through live classes led by experienced tech leaders and subject matter experts. While Scaler has yet to disclose its FY25 numbers, the company’s revenue from operations grew to Rs 384.5 crore in FY24 from Rs 316.7 crore in FY23. Optimization of major expense categories helped the company reduce its overall losses by 58% to Rs 139 crore in FY24. At the beginning of FY25, Scaler laid off around 150 employees citing long-term growth and sustainability. It competes with Newton School, Masai School, and to some extent with Simplilearn. Many growth and late-stage startups are operating in a challenging funding environment, raising capital at flat or reduced valuations.

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge

EntrackrEntrackr · 4m ago
Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge
Medial

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge Feminine hygiene brand Plush to raise its Series B funding round, led by angel investor Ajay Kumar Aggarwal, with participation from Careernet Technologies, OTP Ventures, Blume Ventures, and 11 other investors. The board at Plush has passed a special resolution to issue 4,099 Series B preference shares to raise Rs 30.56 crore or $3.6 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows. Ajay Kumar Aggarwal will lead the round with an investment of Rs 6 crore, while existing investors Careernet Technologies, OTP Ventures, and Blume Ventures will contribute Rs 5 crore, Rs 3 crore, and Rs 4 crore respectively. The remaining amount will be collectively invested by Rahul Garg, Sumit Jalan, Blue Ashva Varenya Fund, Rahul Kayan, and seven other investors. According to Entrackr’s estimates, the company’s valuation is expected to reach around Rs 281 crore (approximately $33 million) post-allotment. This marks nearly a 3X spike in its valuation, compared to its previous pre-Series B round. Following the fresh proceeds, Angel Investor Ajay Kumar Aggarwal will hold 19.64% stake in the company followed by Careerner Technologies and Blume Ventures which holds 16.37% and 13.08% respectively. Founded in 2019, the Chennai-based startup focuses on feminine care products, offering a range that includes period care, hair removal, intimate wellness, and skincare solutions. According to the company, its products are currently available in 500 stores across Bengaluru, Chennai, Mumbai, Delhi, and Hyderabad, with plans to expand retail presence to 2,000 stores over the next six months. Plush reported an 84% year-on-year revenue growth to Rs 28.87 crore in the fiscal year ending March 2024. During the same period, the company posted a loss of Rs 4.4 crore. The startup is projected to close FY25 with Rs 60 crore revenue.

Exclusive: Robotics startup Miko to raise $155 Mn at $550 Mn valuation

EntrackrEntrackr · 2m ago
Exclusive: Robotics startup Miko to raise $155 Mn at $550 Mn valuation
Medial

Exclusive: Robotics startup Miko to raise $155 Mn at $550 Mn valuation Child companion robot maker Miko is raising Rs 1,325 crore ($155 million) in its Series D round from AMDG-PAX Foundation, a US-based non-profit organisation. The board of RN Chidakashi Technologies Private Limited, which operates under the brand name Miko, has passed a special resolution to issue 22,465 preference shares at an issue price of Rs 5.9 lakh each to raise the sum, its regulatory filing with the Registrar of Companies (RoC) shows. According to the filing, the fresh proceeds will be utilized to meet business requirements and other general corporate purposes. Entrackr estimates the company’s post-money valuation at around $550 million, a 2.7X increase from its previous round. Queries sent to Miko on Friday did not receive any response until the story was published. Miko.ai runs on a hybrid model, selling AI-powered robots such as Miko Mini and Miko 3 priced in the Rs 15,000–25,000 range, while also pushing its premium subscription Miko Max to drive recurring revenues beyond device sales. The company claims to serve customers in over 140 countries, including the US, Europe, and the Middle East. So far, Miko has raised over $75 million (excluding this round), including a $29 million Series B round led by IvyCap Ventures. According to the filing, AMDG-PAX Foundation will hold 27.87% (post-allotment) of the firm. While Miko’s Indian entity has yet to file its FY25 annual report, its revenue from operations grew 58% to Rs 358 crore in FY24, compared to Rs 225 crore in FY23. Its losses stood at Rs 120 crore in FY24. Miko competes with PlayShifu, Avishkaar, and WitBlox, among others.

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

EntrackrEntrackr · 2m 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: Shadowfax kicks off Series F round at $712 Mn valuation

EntrackrEntrackr · 8m ago
Exclusive: Shadowfax kicks off Series F round at $712 Mn valuation
Medial

Exclusive: Shadowfax kicks off Series F round at $712 Mn valuation Logistics firm Shadowfax has secured Rs 34.2 crore (around $4 million) in its Series F round. The development has come nearly 11 months after raising $100 million in its last funding round. The board at Shadowfax has passed a special resolution to allot 5773 Series F compulsory cumulative preference shares at an issue price of Rs 59,320 each to raise Rs 34.2 crore or $4 million, its regulatory filing accessed from the Registrar of Companies shows. Mirae Asset invested Rs 17.4 crore, while Nokia Growth Partners contributed Rs 16.79 crore in the round. Shadowfax is reportedly aiming to raise $50 million, with this investment being part of a larger raise. According to Entrackr’s estimates, the Flipkart-backed company has been valued at around Rs 5,981 crore or $712 million post-allotment. The valuation might change with the flow of more funds. Shadowfax provides services to a vast network of customers with industry-leading Turnaround Time (TAT) at competitive prices. It boasts a unique crowdsourcing network comprising 125,000 monthly active delivery partners and 3.5 million registered users. The Bengaluru-based company has raised over $200 million to date. According to the startup data intelligence platform TheKredible, Eight Road Ventures is the largest external stakeholder followed by Flipkart, Newquest Asia and Nokia Growth Partners. Shadowfax reportedly plans to raise Rs 2500-3000 Cr IPO in the second half of the ongoing calendar year and the company also tapped JM Financial, Morgan Stanley and ICICI Securities as the lead bankers for the initial public offering. Shadowfax has reported a 33.2% year-on-year growth to Rs 1,415 crore during the previous fiscal year ended March 2024. Moreover, the company has managed to reduce its losses significantly by 91.7% to Rs 11.8 crore from Rs 142.6 crore in FY23. In terms of competition, Delhivery, a publicly listed company, reported Rs 8,594 crore in revenue for FY24. Ecom Express posted Rs 2,609 crore in revenue for FY24 and has secured board approval for a Rs 2,600 crore IPO. Other key competitors for Shadowfax include XpressBees, Shiprocket, and Blue Dart.

Exclusive: CityMall to raise $38 Mn in Series D round at flat valuation

EntrackrEntrackr · 1m ago
Exclusive: CityMall to raise $38 Mn in Series D round at flat valuation
Medial

Exclusive: CityMall to raise $38 Mn in Series D round at flat valuation Grocery-focused social e-commerce platform CityMall is set to raise Rs 334 crore ($38 million) in a Series D round from existing investors led by Accel with the participation of Waterbridge Ventures, Elevation Capital, Norwest Capital, Citius, and General Catalyst. This is the first major funding for the Gurugram-based company in 3.5 years since it raised $75 million in the Series C round in March 2022. The board at CityMall passed a resolution to approve the issuance of 7,278 Series D CCPS and an equity share at an issue price of Rs 4,58,716 each to raise the aforementioned sum, its regulatory filing accessed from Registrar of Companies (RoC) shows. Accel will lead the round with an investment of Rs 173.2 crore ($19.7 million), followed by Waterbridge Ventures at Rs 52 crore ($5.9 million). Citius and Norwest Capital will participate with Rs 48.38 crore ($5.5 million) and Rs 25.96 crore ($2.95 million), respectively. Elevation Capital (Rs 21.65 crore), General Catalyst (Rs 8.67 crore), and angel investor Rohit Agarwal (Rs 4 crore) will also join the round. The proceeds will be used for capital expenditure, marketing, and other general corporate purposes, the filing added. According to Entrackr’s estimates, the company’s valuation remained flat at Rs 2,780 crore or $316 million. The company might raise more funds in this round and its valuation will vary accordingly. Founded in 2020, Grocery-focused social commerce startup CityMall offers daily essentials including grocery, FMCG, and home and kitchen products, and plans to expand into new categories such as beauty and accessories through its network of community resellers in tier II and III cities. According to the startup data intelligence platform TheKredible, Citymall has so far raised over $110 million across multiple funding rounds. The Accel-backed company has not yet filed its FY25 financials. In FY24, it reported over 23% year-on-year growth in gross revenue (GMV) to Rs 427 crore compared to Rs 346.4 crore in FY23. However, its losses rose 10% during the same period to Rs 159 crore.

Exclusive: The Sleep Company to kick off Series D round with 80% valuation surge

EntrackrEntrackr · 3m ago
Exclusive: The Sleep Company to kick off Series D round with 80% valuation surge
Medial

Exclusive: The Sleep Company to kick off Series D round with 80% valuation surge Sleep solution startup The Sleep Company is set to raise Rs 105 crore ($12.3 million) in its Series D round led by Saffron Investments with the participation from Carillon Investments and Infinity Partners. The company last raised $22 million in a Series C round led by Premji Invest and Fireside Ventures in December 2023. According to its filing with the Registrar of Companies (RoC), The Sleep Company’s board passed a resolution to approve the issue of 19,093 Series D CCPS at an issue price of Rs 55,130 each to raise the above-mentioned amount. Saffron Investments will lead the round with an investment of Rs 87.73 crore ($10.3 million), while Carillon Investment and Infinity Partners will contribute Rs 9.74 crore and Rs 7.77 crore, respectively. The filing added that the proceeds from this round will be used for growth, expansion, and general corporate purposes. This seems like a part of a bigger round, and the company might raise more during the same round. According to Entrackr’s estimates, the Mumbai-based company will be valued at Rs 2,745 crore (approximately $323 million), marking an 80% surge in valuation compared to around Rs 1,500 crore during its previous $22 million round. The valuation will increase in case of more inflow of funds during the ongoing Series D. The Sleep company was reportedly in talks to raise $50 million from ChrysCapital in a mix of primary and secondary transactions. Founded in 2019, D2C sleep solutions startup The Sleep Company offers a range of products, including mattresses, pillows, cushions, bedding, and office chairs. The company sells its products through both e-commerce platforms and offline retail channels. According to startup data intelligence platform TheKredible, it has raised around $49 million to date from the likes of Premji Invest and Fireside Ventures. Following the allotment of this round, Saffron Investments will be holding a 3.2% stake in the company. For the fiscal year ended March 2024, the D2C brand’s revenue surged 2.5X to Rs 312 crore from Rs 127 crore in FY23. Despite the growth, the losses of the company rose by 58% to Rs 58.69 crore during the same period. The Sleep Company competes with Wakefit, which recently filed its DRHP with SEBI to raise Rs 468 crore via fresh issue. It also competes with SleepCat, Duroflex, among others.

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