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Exclusive: Tetr College of Business raises $17.5 Mn in maiden funding round

EntrackrEntrackr · 11h ago
Exclusive: Tetr College of Business raises $17.5 Mn in maiden funding round
Medial

Tetr College of Business, a global business school, has raised Rs 154.33 crore (approximately $17.5 million) in its maiden round of funding from Owl Ventures and Bertelsmann India Investments. The board at Pmmue Eduservices Private Limited (parent company of Tetr) has issued 3,130 Series A compulsory convertible preference shares and 20 equity shares at an issue price of Rs 4.89,348.33 each to raise the above mentioned amount, as per its regulatory filing with the Registrar of Companies (RoC). Owl Ventures led the round with an investment of Rs 88.19 crore ($10 million), while Bertelsmann India Investments followed with Rs 66.14 crore ($7.5 million). According to Entrackr’s estimates, the latest funding valued the company at around Rs 644 crore or $73 million post-money. Founded in 2024 by Pratham Mittal, Tetr College of Business is a global B-school where over 300 undergraduate students from around the world learn business by building real ventures across seven countries including the USA, Italy, Singapore, Brazil, the UAE, India, and Ghana. As part of its four-year bachelor’s program, students gain hands-on entrepreneurial experience while studying at some of the world’s most prestigious academic institutions. In October last year, Tetr College of Business launched a $10 million fund named ‘Tetr Under 20’ to support student entrepreneurs. Led by Manoj Kohli, Viney Sawhney, Pratham Mittal, and others, the fund aims to invest in 20 innovative and sector agnostic ideas across areas such as AI, emerging technology, sustainability, D2C, and healthcare. As of FY24, the company was in the pre-revenue stage and had not reported any operating income. It posted a loss of Rs 70 lakh, primarily due to marketing and employee expenses. Its FY25 data has yet to come.

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ServeClub raises seed round from Rare Rabbit, The Moms Co. founders

EntrackrEntrackr · 5m ago
ServeClub raises seed round from Rare Rabbit, The Moms Co. founders
Medial

ServeClub, a homegrown pickleball gear brand, has raised seed funding from Manish Poddar (co-founder, Rare Rabbit), Pratham Mittal (founder, Masters’ Union and Tetr), and Malika Sadani (co-founder, The Moms Co.). The proceeds will be used for product development and to expand both online and offline sales across India. Founded by a team of students from the US, Cuba, Mexico, Germany, and India studying at Tetr College of Business, ServeClub offers USAPA-certified paddles priced between Rs 7,000 and Rs 9,000, positioned as a lower-cost alternative to global brands which often retail above Rs 15,000. ServeClub claims to have partnered with over 25 entities, including courts, clubs, and fitness brands, and plans to grow monthly sales by 20–25% in the next two quarters. Expansion plans include direct-to-consumer sales and organizing community engagement events. According to market research, the Indian pickleball market is growing at 26% CAGR with over 50,000 players. The global market is projected to reach $1.59 billion by 2031.

Exclusive: Zetwerk raises $20 Mn from Wheelhouse Ventures

EntrackrEntrackr · 1y ago
Exclusive: Zetwerk raises $20 Mn from Wheelhouse Ventures
Medial

Business-to-business e-commerce unicorn Zetwerk has raised Rs 166 crore or $20 million from Wheelhouse Venture Capital in the ongoing Series F funding round. This is the maiden investment for Wheelhouse Venture in the Bengaluru-based firm. The board at Zetwerk has passed a special resolution to allot 40,81,593 Series F2 CPPS at an issue price of Rs 407.39 each to raise Rs 166.28 crore or $20 million, its regulatory filing sourced from the Registrar of Companies shows. As per startup data intelligence platform TheKredible, the firm has been valued at $2.8 billion in the new round, slightly higher than the $2.7 billion reported in its previous round of $120 million. Entrackr had exclusively reported the development in October 2023. Following the fresh proceeds, Wheelhouse got a little less than 1% stake in Zetwerk while Greenoaks remained the largest stakeholder with 21.63% followed by Peak XV partners and Lighspped. Its co-founders Srinath Ramakkrushnan and Amrit Acharya cumulatively command 15.56% of the company. Head to TheKredible for the complete cap table. Zetwerk partners with offline suppliers engaged in the fabrication, machining, casting, forging, and galvanizing of machine parts. Operational in over 15 countries, it claims to serve over 100 customers across more than 25 industries in India, North America, MEA, et al. Continuing its growth trajectory in the last fiscal year, Zetwerk’s GMV (gross revenue) surged 2.3X to Rs 11,448 crore while its losses grew 81% to Rs 109 crore in the same period (FY23).

Tsalla Aerospace raises $1 Mn in maiden funding round

EntrackrEntrackr · 8d ago
Tsalla Aerospace raises $1 Mn in maiden funding round
Medial

Snippets Tsalla Aerospace raises $1 Mn in maiden funding round Tsalla Aerospace has raised $1 million in its first external funding round led by Sunny Stalnaker, executive VP at ASML, with additional support from SIDBI and equity-free grants from the Ministry of Defence’s Innovations for Defence Excellence (iDEX) programme. The proceeds will be used to expand its autonomous systems platform and scale deployment for defence and industrial use cases. Founded in 2019 and incubated at the Indian Institute of Science (IISc), Tsalla Aerospace builds an AI-based autonomy stack for drones and unmanned systems. Its AI Pilot enables unmanned platforms to operate without GPS or communication support and aims to function with zero operator intervention. Tsalla works with the Indian Navy and Indian Army on multiple projects. These include confined-space reconnaissance systems, backpack-based VTOL platforms designed for single-person operation, and logistics use cases such as ship-to-ship delivery in difficult weather conditions. Tsalla competes with domestic defence and autonomy companies such as ideaForge, NewSpace Research & Tech, Sagar Defence, CRON Systems, and global dual-use autonomy developers. According to the company, it also plans to raise $8 million in a seed round to expand its autonomy stack, grow deployments in India and international markets, and enter new defence and industrial segments.

Exclusive: Consumer lending startup Fibe raises $66 Mn

EntrackrEntrackr · 1y ago
Exclusive: Consumer lending startup Fibe raises $66 Mn
Medial

Digital lending platform Fibe (formerly EarlySalary) has raised Rs 547 crore or $66 million in Series E round led by TPG’s The Rise Fund and Kabira Holdings. This is the first round of investments for the Pune-based company in the past two years. The board at Five has passed a special resolution to issue 5,46,75,600 Series E CCPS at an issue price of Rs 100 each to raise Rs 547 crore, its regulatory filing accessed from the RoC shows. The Rise Fund led the round with Rs 133 crore while Kabira Holdings put in Rs 125 crore. Eight Road Ventures, Norwest Capital, and Trifecta participated with Rs 41.6 crore, Rs 62.5 crore and Rs 55 crore, respectively. Amara Partners and Chirate also invested Rs 29.17 crore and Rs 100 crore. According to filings, the company will use these funds for expansion and growth as per the business plan duly adopted by the board. This is a developing story…

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