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Exclusive: Wify bags $2 million in pre-Series A round

EntrackrEntrackr · 1y ago
Exclusive: Wify bags $2 million in pre-Series A round
Medial

Construction and home improvement platform Wify has raised Rs 17.5 crore or $2.1 million in its pre-series A round led by Capria Ventures. This is the first round of investment for the Mumbai-based company this year. The board at Wify has passed a special resolution to issue 30,455 pre-series A CCPS at an issue price of Rs 5,747 each to raise Rs 17.5 crore, its regulatory filing accessed from RoC shows. Capria Ventures has poured Rs 8 crore while Duo Design and Optimistic Trading company pumped in Rs 3 crore and RS 1.5 crore, respectively. Existing investors Blume Ventures and Singularity Growth also participated with Rs 2 crore and Rs 3 crore each in the Pre Series A round.. Wify has secured $2 million in its last seed round in July 2022. According to the startup data intelligence platform TheKredible, the company has been valued at around Rs 128 crore (post-money) in its maiden financing round.. Founded in 2019 by Vikram Sharm and Deepanshu Goel, Wify is in the business of on-site installation and post-purchase services to businesses and brands. The four-year-old firm registered over two-fold year-on-year growth and posted Rs 24.47 crore revenue in FY23. Meanwhile, the losses for Wify stood at Rs 5.65 crore in the same period.

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Exclusive: Battery Smart kicks off pre-Series C funding round

EntrackrEntrackr · 12d ago
Exclusive: Battery Smart kicks off pre-Series C funding round
Medial

Exclusive: Battery Smart kicks off pre-Series C funding round Battery Smart has initiated its pre-Series C funding round. While the size of the round is unknown, Acacia Inclusion, Blume Ventures and PC-SBI Kurashi Visionary Fund have already invested over $7 million. According to its regulatory filings with the Registrar of Companies, the board of Battery Smart has passed a special resolution to allot 12,158 pre-Series C compulsory convertible preference shares at an issue price of Rs 54,407 each for Rs 66 crore (approximately $7.4 million). Acacia Inclusion led the round with an investment of Rs 36.3 crore, followed by PC-SBI Kurashi Visionary Fund with Rs 17.8 crore, while Blume Ventures joined the pre Series C round with Rs 12 crore. The proceeds will be used to support business expansion, capital expenditure, working capital requirements, and other general corporate purposes, as per filings. Battery Smart offers lithium-ion batteries for electric two- and three-wheelers that can be swapped within minutes at its network of swapping stations. Through its battery-as-a-service (BaaS) model, the company enables users, particularly gig economy drivers, to avoid the upfront cost of owning batteries. To date, Battery Smart has raised around $192 million in funding, including its $65 million Series B round and $29 million extended Series B round. Its cap table includes prominent investors such as Tiger Global, Blume Ventures, and Ecosystem Integrity Fund. On the financial front, the company reported a 52% year-on-year increase in operating revenue to Rs 249 crore in FY25, up from Rs 164 crore in FY24. Battery Smart also stated that it has achieved operating break-even and turned EBITDA positive.

Exclusive: Finnable to raise Rs 250 Cr in new round

EntrackrEntrackr · 6m 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.

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