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Exclusive: Vama set to raise fresh funds in pre-Series A round

EntrackrEntrackr · 2d ago
Exclusive: Vama set to raise fresh funds in pre-Series A round
Medial

Exclusive: Vama set to raise fresh funds in pre-Series A round Virtual spiritual app Vama is set to raise Rs 23.87 crore (around $2.7 million) in its pre-Series A round led by existing investor Wavemaker Partners with the participation of 500 Global, Venture Catalyst, 9Unicorns, Silver Needle Ventures, and other angel investors. The Vama’s board passed a resolution to issue 4,433 pre-Series A1 compulsory convertible preference shares at an issue price of Rs 53,466.8 per share to raise the mentioned sum, according to its filing with the Registrar of Companies (RoC). Wavemaker Partners will lead the round with an investment of Rs 11.37 crore, followed by 500 Global and Silver Needle Ventures with Rs 4.37 crore and Rs 3.2 crore, respectively. 9Unicorns will also participate with Rs 1.59 crore, while the remaining amount will be contributed by Venture Catalyst, Sadev Capital, and angel investors including Alok Nanavaty, Harit Nagpal, Swati Parikh, and Mahesh Kamdar. The company already received Rs 2.57 crore from Wavemaker partners in June 2025. According to the filing, the proceeds will be used to support business expansion and development needs. Vama is estimated to be valued at Rs 149 crore (around $17 million) post-money, according to Entrackr’s estimates. Founded in 2020 by Manu Jain and Acharya Dev, the Delhi-based startup offers virtual access to religious services such as e-pujas, e-darshans, and astrology consultations. Through its Android and iOS apps, it claims to have facilitated more than 1.5 lakh astrology and puja services worldwide. According to startup data intelligence platform TheKredible, Vama has raised around $5 million prior to this round. Following the latest allotment, Wavemaker will hold the largest external stake at 18.18%, while new investors 500 Global and Silver Needle Ventures will own 2.84% and 2.08%, respectively. The company’s promoters aka co-founders will collectively retain a 33.71% stake. For the fiscal year ending March 2025, Vama’s revenue doubled to Rs 19.5 crore, while its losses widened 33% to Rs 12 crore. It directly competes with AppsForBharat, which recently raised $20 million in a Series C round. Its other competitors include DevDham, Utsav App, Sutradhar, Ghar Mandir, and 27 Mantra.

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Exclusive: Finnable to raise Rs 250 Cr in new round

EntrackrEntrackr · 14d ago
Exclusive: Finnable to raise Rs 250 Cr in new round
Medial

Exclusive: Finnable to raise Rs 250 Cr in new round Digital lending platform Finnable is set to raise Rs 250 crore (approximately $29 million) in its pre-series C round from Matrix Partners, TVS Capital, and India Nippon Electricals Limited. The company has passed a board resolution and allotted 3,35,238 Pre-Series C preference shares at an issue price of Rs 3,788.35 each and secured Rs 127 crore or $14.7 million. During the first tranche of the pre-series C round of Rs 127 crore, Matrix Partners has injected Rs 125 crore, while India Nippon pumped in Rs 2 crore. The remaining funds are expected to be infused shortly, completing the round. The development comes six months after Ranjan Pai’s family office invested Rs 40 crore in the company. According to Entrackr’s estimates, the company would be valued at Rs 1,300 crore or $150 million post-money. Before this round, MEMG Family Office LLP held 18.69% in Finnable, while Matrix Partners India and TVS Shriram Growth owned 14.53% and 8.05%, respectively. Co-founder and CEO Nitin Gupta retained over 24%. The cap table is set to shift with the fresh infusion from Matrix and TVS, alongside dilution of the founders’ stake. Founded in 2016 by ex-bankers Nitin Gupta, Amit Arora, and Viraj Tyagi, Finnable is a Bengaluru-based fintech startup offering personal loans to salaried professionals. The company is at the AUM of Rs 3,000 crore and has served over 2.7 lakhs customers. Finnable has yet to file its FY25 numbers. In FY24, the company posted a revenue of Rs 181.7 crore with losses of Rs 5.88 crore.

Exclusive: Ixigo-backed FreshBus kicks off Series A round

EntrackrEntrackr · 1y 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: Info Edge to back ShipGlobal again at 3X higher valuation

EntrackrEntrackr · 25d ago
Exclusive: Info Edge to back ShipGlobal again at 3X higher valuation
Medial

Exclusive: Info Edge to back ShipGlobal again at 3X higher valuation Cross-border logistics startup ShipGlobal is set to raise a pre-Series A round from existing investor InfoEdge Ventures. The funding comes nearly two years after its seed round. The board at ShipGlobal has passed a special resolution to issue 2,143 pre-Series A preference shares at an issue price of Rs 70,000 each to raise Rs 15 crore, according to its regulatory filing with the Registrar of Companies (RoC). ShipGlobal will deploy the funds towards capital expenditure, marketing, and general corporate purposes, as per the filing. According to Entrackr’s estimates, the company’s post-money valuation would be around Rs 315 crore ($36 million), representing a 3X increase from its seed round of $3.5 million. Following the fresh infusion, Info Edge Ventures will hold 23.81% of the company, while its co-founders Aayush Anand, Angad Arora, and Vaibhav Kapur will each command 21.89%, the filings show. The round may see participation from new investors and the valuation and shareholding will vary accordingly. Founded in 2022, ShipGlobal provides cost-effective logistics solutions to Indian SMEs, simplifying cross-border shipping with services such as customs clearance, tracking, and real-time pricing. According to the website of the company, Shipglobal has over 25,000 exporters and has shipped more than 1 crore orders across 220 countries. The New Delhi-based company is yet to file its annual statements for FY25. During the fiscal year ended March 2024, it recorded a 5X year-on-year increase in its revenue to Rs 40.6 crore, while the losses stood at only 1.37 crore in the same period.

Exclusive: Pravega and IIFL invest in GrayQuest’s Series B

EntrackrEntrackr · 1y ago
Exclusive: Pravega and IIFL invest in GrayQuest’s Series B
Medial

Education loans-focused fintech startup GrayQuest is set to raise Rs 53 crore ($6 million) in a Series B round co-led by Pravega Fund and IIFL Fintech Fund. The board of GrayQuest has passed a resolution to offer and issue 6,228 fully paid up and 1,530 partly paid up Series B preference shares at an issue price of Rs 69,062 each to raise Rs 53.57 crore. Pravega Ventures and IIFL Fintech Fund each invested Rs 21.50 crore, while the company’s founder, Rishab Sumer Mehta, also participated with shares worth Rs 10.56 crore. The shares allotted to Rishab are partly paid, meaning the remaining amount will be called upon when the board decides. GrayQuest will utilize the fresh funding to meet financial requirements and support its expansion plan, the firm’s regulatory filings disclosed. The company has also increased its ESOP pool size by adding 1,204 new options, bringing the total ESOP pool to 5,718 options, as per a separate filing. Entrackr estimates that GrayQuest’s ESOP pool is currently valued at $4.5 million. The Mumbai-based startup had raised $7 million in its Series A round back in March last year, and $1.2 million worth pre-Series A round in August 2020. According to the startup data intelligence platform TheKredible, GrayQuest has been valued at around Rs 530 crore ( $64 million) post-allotment. The Series B round appears to be ongoing, and the startup is likely to raise additional funds, which could result in a variation in its valuation. Following the fresh proceeds, Pravega Ventures will hold 10.94% of the company, while IIFL Fintech Fund will own 4.07%. Its Founder Rishab Sumer Mehta will command a handsome 38.59% stake in the company. Seven-year-old GrayQuest is an integrated fee collection platform for educational institutions, allowing parents to pay annual education fees in flexible monthly installments with zero interest. Recently, Grayquest was selected for Co-Lab initiative, which was launched by HDFC Bank in collaboration with Pravega Ventures. For the fiscal year ending in March 2023, the startup reported Rs 8.76 crore in operating revenue with Rs 26.3 crore loss. It has yet to publish FY24 results. According to data compiled by TheKredible, GrayQuest and its competitors, including Leap, Auxilo, Avanse Financial, Financepeer, Propelld, Mpower Financing, and Eduvanz, have collectively secured approximately $500 million in funding over the past 24 months. In July, Entrackr exclusively reported that Leap is in talks to raise a new round at unicorn valuation.

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

EntrackrEntrackr · 7m 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: Brick&Bolt valuation soars 3X in new round

EntrackrEntrackr · 6m ago
Exclusive: Brick&Bolt valuation soars 3X in new round
Medial

Tech-enabled construction company Brick&Bolt is raising Rs 16.6 crore (approximately $1.95 million) in its pre-Series B round from Foundamental. Foundamental is a US-based investment firm that has previously invested in Indian companies, including Infra.Market in its Series A round in 2020. The board at Brick&Bolt has passed a special resolution to issue 369 pre-Series B compulsory convertible preference shares at an issue price of Rs 4,50,087 to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. As per filings, the proceeds will be utilized for immediate working capital and long-term funding requirements for the business. Brick&Bolt provides construction solutions such as complete construction, carpentry, woodwork, kitchen renovations for land and home owners. It operates in Bengaluru, Mysuru, Hyderabad, Chennai, Delhi-NCR and Pune. According to startup data intelligence platform TheKredible, the Bengaluru-based firm has raised approximately $16.5 million to date, led by Surge Ventures, Accel, and Celesta Capital. This includes a $10 million Series A round secured in January 2023 from Accel and Celesta Capital. According to Entrackr’s estimates, the firm will be valued at approximately Rs 891 crore ($105 million) post-allotment, marking a nearly 2.9X increase from around Rs 310 crore ($36.5 million) in its Series A round. Participating investor Foundamental will hold an 8.28% stake. It’s likely to raise additional funds in this round, which may further impact its valuation. The company reported an 81% surge in operating revenue, standing at Rs 42.25 crore for the fiscal year ending March 2024. Notably, it managed to curb losses, which declined by 10% to Rs 31 crore in the last fiscal year (FY24).

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