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

EntrackrEntrackr · 1m 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.

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

EntrackrEntrackr · 1y 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.

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

EntrackrEntrackr · 11m 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.

The Whole Truth raises $51 Mn in Series D funding

EntrackrEntrackr · 26d ago
The Whole Truth raises $51 Mn in Series D funding
Medial

The Whole Truth raises $51 Mn in Series D funding Clean-label health food brand The Whole Truth has raised about $51 million in a Series D funding round led by Sofina and Sauce.vc. The round comprises a mix of primary and secondary capital and saw participation from existing investors Peak XV Partners and Rainmatter Health, along with Ayra Ventures. Entrackr exclusively reported on the Series D funding last month. The fresh capital will be deployed to expand in-house manufacturing capacity, strengthen working capital, and build internal systems required for public market readiness. An ET report said the latest funding is the start of the company’s IPO journey, with profitability identified as the next key milestone. Founded by former Unilever executive Shashank Mehta, The Whole Truth focuses on clean-label packaged foods. Its product portfolio includes protein bars, protein powders, nut butters, and dark chocolates. Cofounder Rachna Aggarwal leads product development at the firm. Previously, the startup had raised $15 million in a Series C funding round led by Sofina in February last year, with participation from Z47, Peak XV Partners, and Sauce.vc. Since its Series C round in January 2025, the company claims to have grown threefold. Financially, The Whole Truth’s revenue from operations surged 232% to Rs 216 crore in FY25 from Rs 65 crore in FY24. During the same period, the company’s loss increased 17% to Rs 28 crore in FY25 from Rs 24 crore in FY24. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.

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

EntrackrEntrackr · 6m 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: Robotics startup Miko to raise $155 Mn at $550 Mn valuation

EntrackrEntrackr · 6m 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: Propelld to raise $30 Mn from WestBridge and Stellaris

EntrackrEntrackr · 9m 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 Sleep Company to kick off Series D round with 80% valuation surge

EntrackrEntrackr · 7m 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.

Exclusive: Leap Finance in talks to raise $100 Mn; seeks over $1 Bn valuation

EntrackrEntrackr · 1y ago
Exclusive: Leap Finance in talks to raise $100 Mn; seeks over $1 Bn valuation
Medial

Leap Finance, a fintech platform for Indian students pursuing higher education overseas, is in talks to raise around $70–100 million in a new round, according to two sources aware of the development. The company is seeking fresh investment after more than two years of its Series D round. “Leap has been doing well for the past two years which attracted interest from several investors including internals,” said one of the sources requesting anonymity as talks are private. “The firm is in talks with at least three new investors to raise up to $100 million in Series E round.” Leap is likely to become a unicorn with this round, said sources. San Francisco-incorporated Leap last raised $75 million in its Series D round led by Owl Ventures with participation from Steadview, Paramark Ventures, Jungle Ventures and Peak XV in June 2022 in a valuation range of $850-900 million. Its exact valuation, shareholding and revenue couldn’t be ascertained as the firm parent entity isn’t registered in India. “The terms of the deal are currently being negotiated with two of the three new investors and Leap would finalise lead for the new round in a few weeks,” said another source who also wished not to be named. “It’s seeking $1 to 1.2 billion valuation in the Series E.” Sources assert that Leap has grown multi-fold since its Series D round. The firm enables educational loans for students keen on pursuing education in overseas universities. It offers test prep apps for IELTS, TOEFL, SAT; admissions and visa counseling as well as financial offerings through LeapScholar, LeapFinance, and Yocke. It also assists with international bank accounts, credit cards, and money remittance. “The new round will be a mix of primary and secondary capital, and some early investors including angels may take partial or full exit from the company,” said the source quoted above. Leap has declined to offer comment on the story. Queries sent to Owl Ventures, Jungle Ventures, Steadview and Peak XV did not elicit any response until publication of the story. The five-year-old firm has raised $175 million until Series D round and claims to have funded more than 3,000 students since 2021. It largely focuses on institutes in the US, Canada, UK and Australia. While edtech startups have been struggling to raise funds for the past couple of years, overseas education-focused finance platforms have cornered decent funding during the period. As per data compiled by TheKredible, Leap and its competitors such as Auxilo, Avanse Financial, Financepeer, Propelld, Grayquest, and Eduvanz collectively cornered around $500 million in the last 24 months. The strong preference to study abroad for superior exposure is a significant growth driver for companies like Leap, Leverage Edu, and CollegeDekho. Incred, a prominent player in the overseas educational loan space, reported that such loans accounted for 21% of its total disbursal in FY24. According to InCred’s founder, Bhupinder Singh, the growth prospects and increasing awareness in this segment have contributed to its [overseas educational loan] rapid expansion.

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