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Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge

EntrackrEntrackr · 5m ago
Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge
Medial

Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge Clean-label health food brand The Whole Truth is raising Rs 133.3 crore (approximately $15.8 million) in a series C round led by Sofina Ventures, with the participation of Peak XV and Matrix Partners. The board at The Whole Truth has passed a special resolution to issue 45,097 Series C preference shares at an issue price of Rs 29,556.5 each to raise Rs 133.3 crore or $15.8 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Sofina Ventures is leading the Series C round with an investment of Rs 65.8 crore, while Peak XV and Matrix Partners will contribute Rs 25 crore and Rs 29.5 crore, respectively. Sauce Continued Fund will also participate with an investment of Rs 13 crore. The fresh funds will be used to meet financial requirements and support business expansion. According to Entrackr’s estimates, the Mumbai-based company will have a post-allotment valuation of approximately Rs 2,135 crore ($254 million). This marks a 3.6X increase in valuation compared to its previous Series B round, which closed at $70 million. According to the filings, after the fresh funding round, Peak XV will hold 21.14% of the firm, while Matrix Partners will own 21.4%. Sofina Ventures and Sauce Continuity will hold 3.08% and 3.77%, respectively. The Whole Truth was reportedly in discussions to raise $25 million in a new funding round. The company has secured $15.8 million so far and may raise additional funds as the round progresses. The Whole Truth offers a range of products, including protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli. The company provides subscription options and claims that 80-85% of its sales come from its website, with the remaining revenue generated through partnerships. The Whole Truth recorded an 81% year-on-year growth, with revenue rising to Rs 65.3 crore in FY24 from Rs 35.96 crore in FY23. The company reduced its losses by 33% during the same period.

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Exclusive: BetterPlace kicks off new round

EntrackrEntrackr · 4m ago
Exclusive: BetterPlace kicks off new round
Medial

Exclusive: BetterPlace, a blue-collar workforce management platform, is raising Rs 31.9 crore ($3.8 million) in its Series D round led by Jungle Ventures. This funding comes over two years after its $64 million Series C round. The board at BetterPlace has passed a resolution to issue 10,574 Series D CCPS at an issue price of Rs 30,174 each to raise Rs 31.9 crore or $2.8 million, its regulatory filing sourced from the Registrar of Companies shows. Jungle Ventures will invest Rs 20.7 crore, while the remaining amount will come from Capria Ventures. This investment is part of BetterPlace's ongoing Series D round, with the firm expected to raise additional funds. The funds will be used for general business operations, as per filings. According to Entrackr estimates, BetterPlace will be valued at approximately $250 million post-allotment, subject to change if further investments are secured. Founded in 2015, BetterPlace offers KYC-based digital employee onboarding, digitized employee records, background verification, skill development training and assessment. According to its website, the firm has provided full-stack workforce management solutions to over 1,000 enterprises, including Amazon, Ola, Uber, Swiggy, and Zomato. BetterPlace has acquired eight companies, including Oust Labs, AasaanJobs, OLX People, Waah Jobs, OkayGo, EzeDox, Troopers, and MyRobin. It competes directly or indirectly with platforms like Apna, GigIndia, and WorkIndia. The company has yet to file its FY24 annual results. In FY23, its revenue from operations stood at Rs 533 crore, while BetterPlace reported a loss of Rs 132 crore during the same period.

Exclusive: Home decor startup Vaaree kicks off new round

EntrackrEntrackr · 1y ago
Exclusive: Home decor startup Vaaree kicks off new round
Medial

Home Furnishing & Decor Startup Vaaree has raised Rs 20.78 crore ($2.5 million) in a pre-Series A round led by Capier Investments with the participation of Peak XV’s Surge Ventures. The board at Vaaree has passed a special resolution to issue 3,063 pre-series A CCPS at an issue price of Rs 67,856 each to raise Rs 20.78 crore or $2.5 million, its regulatory filing accessed through Registrar of Companies shows. Capier Investments pumped in Rs 12.47 crore while Surge Ventures contributed Rs 8.31 crore in the pre-series A. The company is likely to get more funds in the same round. As per TheKredible’s estimate, the company is valued at around Rs 180 crore ($21.6 million) post-money. Vaaree has raised around $7 million to date including a $4 million seed money led by Peak XV’s Surge Ventures and with the participation of Vistra, Better Capital, Capier Investments, and All in Capital in September last year. Founded in 2022 by Garima Luthra, Pranav Arora, and Varun Vohra, Vaaree caters to home decor across categories including furnishing, kitchen, decor, bath, and garden. Vaaree was a part of the eighth cohort of Surge’s accelerator program and it also raised funds from angels such as Kunal Shah, Arjun Vaidya, Vineeta Singh, Ghazal Alagh, Varun Dua, Manish Dugar, Anjali Bansal, Suhail Sameer, and Ruchi Deepak, among others. In its first fiscal year (FY23), Vaaree’s revenue from operations was recorded at Rs 1.91 crore while the loss of the firm stood at Rs 3.5 crore in the same period. The company is yet to file its financial results for FY24. Livspace, HomeLane and Furlenco are the top notch funded startups in the home decor space. Early stage companies such as DecorTwist, Sunday Design, and KraftInn, among others, also raised funds in the past couple of years.

Exclusive: Shadowfax kicks off Series F round at $712 Mn valuation

EntrackrEntrackr · 5m 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: Ixigo-backed FreshBus kicks off Series A round

EntrackrEntrackr · 12m ago
Exclusive: Ixigo-backed FreshBus kicks off Series A round
Medial

Ixigo-backed EV bus startup FreshBus has raised Rs 43.7 crore (approximately $5.3 million) in its Series A round. This is the first round of funding for the Bengaluru-based company this year. The board at Fresh Bus has passed a special resolution to issue 2 equity shares and 63,825 CCPS at an issue price of Rs 6,845 each to raise Rs 43.7 crore or $5.3 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Maniv Mobility led the round with Rs 35.68 crore while the remaining sum has been invested by Riverwalk Holdings during the Series A round. The company was in discussions to raise Rs 100 crore in its Series A round. This appears to be an ongoing fundraising and the company is likely to mop up more funds in this round. According to the startup data intelligence platform TheKredible, Fresh Bus has been valued at around $20 million (post-allotment) in this round. The valuation may vary with the further capital injection. FreshBus has raised around $9 million to date including Rs 7.5 crore from Kunal Shah, TVS Motors MD Sudarshan Venu, and Rivigo CEO and founder Deepak Garg in October last year. FreshBus was founded by Sudhakar Reddy Chirra, who earlier built bus aggregator Abhibus which was acquired by ixigo in August 2021 in a cash and stock deal. According to the startup data intelligence platform TheKrediblle, the company was still in pre-revenue stage with a loss of Rs 2.1 crore during the fiscal year ending March 2023. The company is yet to file its annual financial results for FY24.

Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C

EntrackrEntrackr · 6m ago
Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C
Medial

Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C B2B delivery and shared mobility startup Zypp Electric is raising Rs 55.4 crore ($6.5 million) from 16 investors, which seems to be part of the ongoing Series C funding round for the Gurugram-based company. The board at Zypp Electric has passed a special resolution to issue 564 Series C2 CCPS at an issue price of Rs 9,83,005 each to raise Rs 55.4 crore, its regulatory filing accessed from the Registrar of Companies shows. Individuals including Ajay Kumar Aggarwal, Samir Goenka, Narinder Bajaj, Kapil Kriplani, Vega Industries, Gagan Khanna, Supersonic Carrier, Nirmal K Bathwal, and 10 other investors will cumulatively participate during the investment. According to Entrackr’s estimates, the company will be valued at around $335-350 million. This seems to be part of an ongoing round, and the valuation may vary with further injection. According to the company, it may raise up to $50 million in the Series C fundraise. In May last year, Zypp kicked off the new round with a $15 million tranche led by ENEOS. The company was backed by IAN Fund, 9 Unicorns (now 100 Unicorns), Anthill Ventures, Eiman Abdullah Mahfood Al Qatar, and others. Founded by Akash Gupta and Rashi Agrawal in 2017, Zypp Electric is an EV-as-a-service platform offering electric vehicle rentals along with delivery services through its e-scooter fleet for gig workers. The company claims to have around 22,000 active vehicles in its fleet, with 15,000 in Delhi NCR, 4,000 in Bengaluru, and 1,200 in Mumbai. Zypp Electric witnessed significant 2.6X growth, with its operating revenue crossing Rs 290 crore during the fiscal year ended March 2024. However, in pursuit of scale, the losses for the firm rose 2.2X to Rs 91 crore in the same period.

Exclusive: Bare Anatomy parent Innovist kicks off Series B round

EntrackrEntrackr · 3m ago
Exclusive: Bare Anatomy parent Innovist kicks off Series B round
Medial

Innovist, the parent company of Bare Anatomy, Chemist at Play, and Sunscoop, is raising Rs 49.25 crore (approximately $5.7 million) in its Series B round. This marks the first round of investment for the Gurugram-based company in 2025. The board at Innovist has passed a special resolution to issue 72,223 Series B compulsory convertible preference shares at an issue price of Rs 6,819 each, raising Rs 49.25 crore, according to its regulatory filing accessed from the Registrar of Companies (RoC). IVen Amplifi Fund (managed by ICICI Ventures Fund) will lead the round with Rs 19.47 crore, while Mirabilis Investment Trust will contribute Rs 10.1 crore. Sauce.VC and Niveshaay Sambhav Fund will also participate, investing Rs 8.75 crore and Rs 10 crore, respectively. The fresh proceeds will be utilized for recruitment, operations, sales, marketing, and other general corporate purposes, as decided by the board. According to Entrackr estimates, the company will be valued at approximately $140 million post-allotment. This capital infusion appears to be part of a larger funding round, with the potential for additional investments that could further impact its valuation. Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist—formerly known as Onesto Labs—offers personal care products. It currently operates three brands: Bare Anatomy, Chemist at Play, and Sunscoop. Innovist has raised over $16 million to date, including a $7 million Series A round led by the Amazon Smbhav Venture Fund. According to the startup data intelligence platform TheKredible, prior to this round, Sauce.VC was the largest external stakeholder, followed by 72 Ventures, Accel India, and the Amazon Smbhav Fund. The company has not yet filed its annual statements for the previous fiscal year (FY24). In FY23, it reported operational revenue of Rs 36.53 crore, while its losses amounted to Rs 16.87 crore during the same period.

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