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Exclusive: Uppercase raises fresh capital from existing investors

EntrackrEntrackr · 8h ago
Exclusive: Uppercase raises fresh capital from existing investors
Medial

Exclusive: Uppercase raises fresh capital from existing investors Direct-to-consumer (D2C) luggage brand Uppercase has raised Rs 20 crore in a fresh funding round from existing investors Accel India and Volrado Venture Partners. The Mumbai-based company has secured this capital after a gap of nearly 20 months. The board of Uppercase has approved a special resolution to allot 80,514 shares at an issue price of Rs 2,484 per share to raise the above-mentioned sum, as per its regulatory filings with the Registrar of Companies. Accel India and Volrado Venture Partners invested Rs 10 crore each. According to Entrackr’s analysis, Uppercase’s valuation remains flat at around Rs 534 crore ($57 million), in line with its $9 million Series B round raised in August 2024. The proceeds will be used to support the company’s expansion and growth, according to the filings. Founded by Sudip Ghose along with Uday Sodhi and Arnob Mondal, Uppercase (Acefour Accessories) sells backpacks, suitcases, and travel gear, with a focus on sustainable materials, durability, and functional design. Following the latest allotment, Volrado Venture Partners remains the largest external shareholder with a 17.68% stake, followed by Accel India holding 16.23%. Cricketer Jasprit Bumrah owns 0.42%, while the co-founders collectively hold a 29.04% stake in the company. In April last year, Indian cricketer Bumrah invested in Uppercase and has been associated with the brand as its ambassador since then. Uppercase reported a 34% year-on-year growth in operating revenue to Rs 83 crore in FY25, compared to Rs 62 crore in FY24. However, its losses widened significantly to Rs 35 crore during the same period. Uppercase competes with luggage brands such as Escape Plan, which recently raised $25 million, and Mokobara, which secured $12 million in a Series B round led by Peak XV Partners in February 2024. It also counts Assembly, Nasher Miles, and EUME as competitors.

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Exclusive: Agrostar raises fresh funds from existing investors

EntrackrEntrackr · 12m ago
Exclusive: Agrostar raises fresh funds from existing investors
Medial

Exclusive: Agrostar raises fresh funds from existing investors Agritech startup Agrostar has raised Rs 57.65 crore in a fresh round from existing investors. This is the first round of investment for the Accel-backed company this year. Agritech startup Agrostar has raised Rs 57.65 crore or $6.7 million in a fresh round from existing investors. This is the first round of investment for the Accel-backed company this year. The board at Agrostar has passed a special resolution to issue 1,45,397 compulsory convertible preference shares at an issue price of Rs 3,965 each to raise Rs 57.65 crore, its regulatory filing accessed from the Registrar of Companies shows. Existing investors Accel India, Evolvence, Chiratae Ventures, Hero Enterprises, Bertelsmann, and Aavishkaar India participated during the round. According to Entrackr’s estimates, the company has been valued at around $293 million post-allotment. Agrostar operates as a comprehensive platform catering to farmers, offering both online and offline channels for farm advisory solutions and agricultural inputs. Agrostar generates revenue from the sale of agri inputs. Agrostar has raised over $110 million to date, including $70 million Series D led by Schroders. According to the startup data intelligence platform TheKredible, before this round, Chiratae Ventures was the largest external stakeholder, followed by Aavishkaar Capital, Accel, and Bertelsmann. The company last filed its financial statements in FY22, where it recorded 88.4% year-on-year growth to Rs 260 with the loss of Rs 142 crore in the same period. It competes with Ninjacart, DeHaat, and Waycool. 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.

Exclusive: Baaz Bikes to raise fresh funds from existing investors

EntrackrEntrackr · 8m ago
Exclusive: Baaz Bikes to raise fresh funds from existing investors
Medial

Exclusive: Baaz Bikes to raise fresh funds from existing investors Founded by Anubhav Sharma and Shubham Srivastava, Baaz Bikes provides subscription-based scooters to gig workers at firms like Zomato, Zepto, Swiggy, and Amazon. Baaz Bikes is raising Rs 19 crore ($2.2 million) in its extended Series A round from its existing investors, including Big Capital, Rakuten Capital, and Kalaari Capital. The board at Baaz Bikes has passed a special resolution to issue 2,521 preference shares at an issue price of Rs 75,716 each to raise Rs 19.08 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Big Capital will be leading the round with an investment of Rs 8.36 crore, while Rakuten Capital and Kalaari Capital will be investing Rs 5.86 crore and Rs 4.35 crore, respectively. Preetinder Singh Panjrath (CFO of Big Capital) will also contribute Rs 50 lakhs during the fresh proceeds. According to the startup data intelligence platform TheKredible, the company will be valued at around Rs 278 crore or $32.29 million post-money. The company has raised $12 million to date, including its $8 million Series A round led by Big Capital in 2023. Kalaari Capital is the largest external stakeholder with 24.80%, followed by Big Capital and Rakuten Capital, which command 11.30% and 8.06% respectively. The subscription covers multiple battery swaps in a month. The company has yet to file its annual results for FY25. However, its revenue from operations was recorded at Rs 3.76 crore in FY24, with a loss of Rs 8.47 crore during the fiscal year ended in March 2024.

D2C luggage brand uppercase raises $9 Mn led by Accel

EntrackrEntrackr · 1y ago
D2C luggage brand uppercase raises $9 Mn led by Accel
Medial

D2C luggage brand Uppercase (Acefour Accessories) has raised $9 million in a Series B round led by venture capital firm Accel. As per uppercase, it has raised the new round at a post money valuation of $60 million. In 2022, the company had raised $7 million in apPre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners. The funding will support business expansion, aiming to increase its customer base across India, uppercase said in a press release. Founded by Sudip Ghose, uppercase sells travel gear online and through 1,800 multi-brand stores across India. Its products are priced in the range of Rs 3,500-5,000. The Mumbai-based company aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, uppercase also competes with Assembly, Nasher Miles and EUME. While Nasher miles raised $4 million in July, EUME bagged $1.7 million in June. As per startup data intelligence platform TheKredible, uppercase reported an operating revenue of Rs 10.65 crore in FY23 with Rs 21 crore loss. The company is targeting to more than double its revenue to Rs 150 crore by FY25, up from Rs 70 crore in FY24.

Exclusive: DaMENSCH raises fresh capital from existing investors at flat valuation

EntrackrEntrackr · 1y ago
Exclusive: DaMENSCH raises fresh capital from existing investors at flat valuation
Medial

D2C men’s lifestyle brand DaMENSCH has raised Rs 21.62 crore (approximately $2.5 million) in its extended Series B round from existing investors. The fresh investment, which came after a gap of two years, appears to be a bridge round for the Bengaluru-based company. The board at DaMENSCH has passed a special resolution to issue 1,017 shares at an issue price of Rs 2,12,515 each to raise Rs 21.6 crore, its regulatory filing accessed from the Registrar of Companies shows. Existing investors including Matrix Partners, Saama Capital, Whiteboard Capital, and A91 Emerging Fund also participated during the round. The bridge round has flown in at a flat valuation. As per TheKredible estimates, it has been valued at around $70-75 million (post-money). DaMENSCH has raised over $25 million to date including its $16.6 million Series B round led by A91 Partners in February 2022. According to the startup data intelligence platform TheKredible, A91 Partners is the largest external stakeholder followed by Matrix and Saama Capital. Started in 2018 by Anurag Saboo and Gaurav Pushkar, DaMENSCH offers a range of innerwear and casual wear. It leverages its own website and marketplaces such as Amazon, Flipkart, and Myntra for distribution. While the company is yet to file its financial statements for FY24, DaMENSCH’s revenue grew 22.7% year-on-year to Rs 77.57 crore in FY23. Unlike its scale, the firm’s losses surged twofold to Rs 62.34 crore in the fiscal year ending March 2023. DaMENSCH directly competes with Bummer which secured Rs 9.25 crore from Gruhas Collective Consumer Fund in March. XYXX seems to be the most funded player in the space as it raised over $36 million to date including $13.5 million from Amazon Sambhav Fund in May last year.

Exclusive: Google-backed Namma Yatri raises fresh capital

EntrackrEntrackr · 24d ago
Exclusive: Google-backed Namma Yatri raises fresh capital
Medial

Exclusive: Google-backed Namma Yatri raises fresh capital Bengaluru-based ride-hailing app, Namma Yatri has raised Rs 39.75 crore (around $4.4 million) in a pre-Series A extension round led by Juspay founder Vimal Kumar, with participation from existing investors Blume Ventures, Antler, and others. The fresh funding comes nearly two years after it raised $11 million from Blume, Antler, and Google in July 2024. The board of Moving Tech, which operates community-led mobility apps Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, passed a resolution to issue 1.26 crore CCPS at Rs 31.57 per share to raise Rs 39.75 crore, according to its filing with the Registrar of Companies (RoC). Juspay founder Vimal Kumar led the tranche with Rs 18 crore ($2 million), followed by Blume Ventures with Rs 9 crore. Navin Dalmia invested Rs 4 crore, while the remaining amount came from Plutus Investment Trust, Antler, Phi Investment Partners, and a group of angel investors. Namma Yatri is a zero-commission, open-mobility platform in India that connects users directly with auto and cab drivers for fair-priced rides. The app operates in cities such as Bengaluru, Delhi-NCR, Chennai, offering a hassle-free ride-hailing experience. Moving Tech launched Namma Yatri in Bengaluru in 2022, and the platform, along with its family of apps, is fully open-source, features open data metrics, and is also part of the ONDC Network. Following the allotment of this tranche, Vimal Kumar will hold a 13.91% stake in the company, while Blume Ventures will own 11%. Juspay will retain around 29.45% stake in the company. For the fiscal year ended March 2025, the Google-backed firm posted Rs 19.8 crore operating revenue, with a loss of Rs 51.25 crore. This funding for Namma Yatri comes at a time when competition in India’s ride-hailing market is intensifying.

Exclusive: Pristyn Care raises $4 Mn to scale in-house hospitals, preps for larger round

EntrackrEntrackr · 8m ago
Exclusive: Pristyn Care raises $4 Mn to scale in-house hospitals, preps for larger round
Medial

Pristyn Care, a surgery-focused hospital chain, has raised $4 million as part of a larger funding round to support its expansion of owned hospitals, according to company sources and internal documents seen by Entrackr. Entrackr has also gone through its regulatory filing, where the company board has passed a resolution to approve the issue of 34,280 Series E1 CCPS at an issue price of 10,038.16 each to raise the aforementioned sum. Existing investors Peak XV Partners and Hummingbird Ventures are investing in this fresh investment. The company was reportedly in talks to raise $100 million from new and existing investors. Pristyn Care has completed this infusion at an effective share price of Rs 10,038, the same as the last round, indicating the valuation remains unchanged. Pristyn Care has also increased its authorised capital to facilitate future fundraises and strengthen its financial foundation for continued growth. In the last four months, the company has opened eight owned hospitals. Pristyn now operates roughly 200,000 sq ft with about 450 beds. According to the company, more than 10 additional hospitals are slated to launch in the coming months, and the footprint is expected to double by December 2025. According to startup data intelligence platform TheKredible, Pristyn Care has raised approximately $180 million to date from investors including Peak XV Partners, Tiger Global, Epiq Capital, and others. In the fiscal year ended March 2024, the firm recorded over 30% growth in operating revenue to Rs 600 crore, while its losses remained steady at Rs 381 crore during the same period.

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