🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Exclusive: ZappFresh converts into public company

EntrackrEntrackr · 1y ago
Exclusive: ZappFresh converts into public company
Medial

Joining the league of many companies such as Swiggy, FirstCry, Cars24, Pine Labs, and Pepperfry, meat delivery platform ZappFresh is preparing to go public. Taking the first step towards the process, the Gurugram-based firm is now converting into a public entity. The new name of the company is ‘DSM Fresh Foods Limited’, regulatory filings show. According to Entrackr’s sources, the company is likely to go IPO in the last leg of the ongoing financial year (FY25). Queries sent to ZappFresh didn’t elicit any immediate response. Founded in 2015 by Deepanshu Manchanda, ZappFresh sells fresh meat, seafood, and ready-to-cook items through its app and website. The company obtains its meat and fish from local farms, processes them at plants and customizes pieces before delivering them to the customers. Last year, it completed its first acquisition — Dr. Meat from Sukos Foods. Dr. Meat specializes in providing sustainably bred chicken from the outskirts of Bengaluru. It is also operational in Delhi-NCR. Zappfresh has also increased its authorized capital concerning the IPO and announced bonus shares in the ratio of 725:1 i.e. 725 equity shares for every 1 equity shares held by the shareholders, the filing added. Zappfresh proposed the appointment of Anchal Kapoor and Suman Chaudhary as independent directors, with Manchanda proposed to serve as Managing Director and Chairman of the company. The company has raised around $14 million to date including its $4.3 million funding from Ah! Ventures, HT Media and others in November last year. According to the startup data intelligence platform TheKredible, SIDBI Venture Capital is the largest external stakeholder in the nine-year-old firm followed by other investors. The company is yet to file its financial results for FY24 but its revenue from operations was flat at Rs 56 crore during the fiscal year ended March 2023. The firm posted a profit of Rs 11 crore in the same period.

Related News

Exclusive: Suniel Shetty-backed Klassroom converts into public company

EntrackrEntrackr · 1m ago
Exclusive: Suniel Shetty-backed Klassroom converts into public company
Medial

Snippets Exclusive: Suniel Shetty-backed Klassroom converts into public company Education OTT platform Klassroom Edutech has begun preparing for its initial public offering (IPO), joining the growing list of startups going public, after passing a resolution to convert into a public company. Klassroom’s board passed a special resolution to change the company’s status to a public company and rename it from “Fusion Klassroom Edutech Pvt Ltd” to “Fusion Klassroom Edutech Limited,” according to its filing with the Registrar of Companies (RoC). Founded in 2016 by Alka, Dhruv, and Dhumil Javeeri, Klassroom is an O2O (offline to online) tutoring platform for students from 6th to 12th grade, as well as IIT JEE, NEET, CA, and CS aspirants. The platform has over 200 offline partner centers across 600 cities and over 300,000 online learners. Earlier this year in January, the company secured undisclosed funding in a Pre-Series A funding round led by ah! Ventures, along with participation from LetsVenture. For the fiscal year ended March 2024, Klassroom’s operating revenue remained flat at Rs 4.6 crore, while the company turned profitable with a net profit of Rs 28.5 lakh.

Exclusive: Shiprocket converts to public entity ahead of 2025 IPO

EntrackrEntrackr · 10m ago
Exclusive: Shiprocket converts to public entity ahead of 2025 IPO
Medial

Exclusive: Shiprocket converts to public entity ahead of 2025 IPO Logistics and supply chain enabler Shiprocket is gearing up for a definitive initial public offering (IPO) plan in 2025, taking its first major step toward public listing by converting it into a public entity. The board at Shiprocket has approved a resolution to change its status to a public company and rename it from “Shiprocket Private Limited” to “Shiprocket Limited”, as per its regulatory filing. The conversion into the public entity has come a month after raising $26 million in its Series E round led by KDT Ventures, with participation from MUFG Bank, Tribe Capital, and SAI Global. The company will likely raise more capital in its pre-IPO round. Shiprocket reportedly plans to raise between Rs 2,000-2,500 crore through its IPO, which will include both primary components and an offer for sale (OFS). According to media reports, the company has enlisted Axis Capital, Kotak Mahindra, JM Financial, and BofA Securities as its investment bankers for the offering. Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket is a logistics and supply chain platform that enables businesses to streamline shipping through courier integration, real-time tracking, and automated solutions. Shiprocket has raised over $320 million to date and is valued at $1.21 billion. According to the startup data intelligence platform TheKredible, Bertelsmann Nederland B.V is the largest external stakeholder followed by Tribe. Zomato, Temasek, LightRock, and Paypal are other notable investors in Shiprocket. During the fiscal year ending March 2024, the company recorded a 21% year-on-year increase in revenue, reaching Rs 1,316 crore, while its losses stood at Rs 595 crore for the same period. It competes with Unicommerce which recently acquired Shipway, along with other players such as Shipyard.

Exclusive: FabHotels gears up for IPO, converts into public company

EntrackrEntrackr · 1m ago
Exclusive: FabHotels gears up for IPO, converts into public company
Medial

Exclusive: FabHotels gears up for IPO, converts into public company Hospitality chain FabHotels changed its status and converted itself into a public company. The board has passed a resolution and approved its conversion, a move that might signal its preparation for a public listing. FabHotels’ parent company, Travelstack Tech Private Limited (formerly Casa2 Stays Pvt Ltd), has passed a resolution to rename the entity as Travelstack Tech Limited by removing the word “Private,” according to its filing with the Registrar of Companies (RoC). Founded in 2014 by Vaibhav Aggarwal and Adarsh Manpuria, Gurugram-based FabHotels is a hotel chain operating over 1,300 properties across more than 50 major Indian cities, including Mumbai, the National Capital Region, Bengaluru, and Goa. According to startup data platform TheKredible, the company has raised around $68 million to date from investors including Accel and Goldman Sachs. Its most recent funding was a $20 million round led by Panthera Partners in September 2023. In FY25, the Accel-backed company’s revenue increased over 20% to Rs 716 crore in FY25, with narrowing losses by 45% to Rs 62.7 crore compared to Rs 114 crore in FY24. FabHotels competes directly with Treebo and Bloom Hotels. While both are yet to file their FY25 numbers, Treebo crossed Rs 100 crore in revenue in FY24, whereas Bloom Hotels saw a 73.6% rise in operating revenue to Rs 250 crore and posted a profit of Rs 14 crore.

Exclusive: Garuda Aerospace converts into public company

EntrackrEntrackr · 7d ago
Exclusive: Garuda Aerospace converts into public company
Medial

Exclusive: Garuda Aerospace converts into public company Drone technology startup Garuda Aerospace is set to convert into a public company after passing a resolution approving the move, a step that signals its preparation for a potential public listing. According to its filing with the Registrar of Companies (RoC), Garuda Aerospace’s board has passed a resolution to rename the entity as Garuda Aerospace Limited by removing the word “Private”. In line with regulatory requirements, the company has appointed Asha Vijayaraghavan, Mandakulathur Ramachandran Venkatesh, and Rithika Mohan as independent directors, while Vishnu Jayaprakash has been appointed as an additional director and Rithika Mohan has also been designated as a whole-time director. Founded in 2015, Garuda Aerospace is a drone-as-a-service startup that designs, manufactures, and customizes UAVs for uses such as deliveries, disaster management, and agriculture. The company operates India’s largest drone fleet with 400 drones and 500 pilots across 84 cities, offering 30 drone models and 50 related services. According to startup data intelligence platform TheKredible, Garuda Aerospace has raised approximately $44 million to date from investors such as Nagarajan Seyyadurai, Ocgrow Ventures, cricketer MS Dhoni and others. The company recently raised funding from the Narotam Sekhsaria Family Office to scale its manufacturing capacity from 8,000 drones a year to 12,000–15,000 units, and it plans to expand its export presence to 50 countries by year-end. For the fiscal year ended March 2025, the MS Dhoni-backed firm posted profit of Rs 17.5 crore while operating revenue grew 7.3% to Rs 118 crore from Rs 110 crore in FY24. Earlier this year, Garuda's CEO indicated the IPO would not occur in 2025 but the company is in the planning phase to expand manufacturing, research, and development.

Exclusive: Razorpay converts to public entity ahead of IPO plans

EntrackrEntrackr · 7m ago
Exclusive: Razorpay converts to public entity ahead of IPO plans
Medial

Exclusive: Razorpay converts to public entity ahead of IPO plans Fintech unicorn Razorpay has transitioned into a public limited company, moving closer to its planned initial public offering (IPO). While it has no immediate plans to go public, the Bengaluru-based firm—previously domiciled in the United States—is in the process of shifting its headquarters to India. “As part of our redomiciling to India, we’re initiating the process to become a public company well before our IPO in approximately two years, in order to align with best governance practices and build early readiness,” a company spokesperson said in response to Entrackr’s queries. Razorpay will join the likes of Paytm and MobiKwik, which have already gone public, while Pine Labs and PayU are also expected to list by the end of the ongoing fiscal year (FY26). As per media reports, the Bengaluru-based payments unicorn is targeting its IPO by 2026-27. The development comes two months after the Regional Director in Hyderabad approved the amalgamation of Razorpay Inc with Razorpay India. Razorpay provides easy and secure payment solutions tailored for local businesses. Its offerings include multi-currency transactions, real-time payments, and cost-effective cross-border solutions. In addition to India, the company has expanded its presence to Singapore and Malaysia. Razorpay has raised over $800 million across multiple funding rounds and was last valued at around $7 billion. In FY24, the company posted a revenue of Rs 2,068 crore with a profit of Rs 35 crore. It competes with players like Cashfree, which reported Rs 642 crore in revenue for the same period, and PayU, which recorded $444 million (approximately Rs 3,800 crore) in revenue during FY24.

Zappfresh expands to MENA region with Dubai launch in Q2 2025

EntrackrEntrackr · 9m ago
Zappfresh expands to MENA region with Dubai launch in Q2 2025
Medial

Zappfresh expands to MENA region with Dubai launch in Q2 2025 Online fresh fish and meat retailer ZappFresh has expanded its operations across India, the Middle East, and the MENA region. The Gurugram-based company is set to launch its operations in Dubai in the second quarter of 2025. The firm aims to strengthen its presence in western India and explore new markets. It recently broadened its footprint by acquiring Bonsaro, a Mumbai-based online meat and seafood delivery brand. According to a press release by ZappFresh, this expansion has been strategically planned and thoroughly researched as part of the company’s global growth strategy. Founded in 2015 by Deepanshu Manchanda, ZappFresh offers fresh meat, seafood, and ready-to-cook items through its app and website. The expansion has come at a time when Zappfresh is set to launch its initial public offering (IPO) in 2025. The firm filed a draft red herring prospectus (DRHP) for an IPO on BSE SME in August last year. ZappFresh reported a 60% increase in its operating revenue to Rs 90.4 crore in FY24 from Rs 56.3 crore in FY23, while its net profit saw a 70% year-on-year (YoY) growth to Rs 4.7 crore in the last financial year. ZappFresh has raised approximately $14 million to date, including $4.3 million in funding from Ah! Ventures, HT Media, and others in November last year. According to the startup data intelligence platform TheKredible, SIDBI Venture Capital is the largest external stakeholder in the nine-year-old firm, followed by other investors.

Exclusive: Fintech unicorn Moneyview to convert into public company ahead of IPO

EntrackrEntrackr · 6m ago
Exclusive: Fintech unicorn Moneyview to convert into public company ahead of IPO
Medial

Fintech unicorn Moneyview is set to convert into a public company ahead of its IPO. The company recently changed its parent company’s name from “Whizdm Innovations Private Limited” to “Moneyview Private Limited.” The board has passed a special resolution to convert the company into a public entity, renaming it “Moneyview Limited.” Moneyview aims to raise over $400 million through its IPO, having appointed Axis Capital, Kotak Mahindra, and others as banking partners. Founded in 2014, Moneyview offers loans, credit cards, BNPL, and financial management tools, partnering with over 15 institutions. It has raised over $230 million from investors such as Accel and Tiger Global. For FY24, Moneyview's revenue increased by over 75% to Rs 1,012 crore, with a profit of Rs 171 crore. Other fintech firms like Pine Labs and Razorpay are also preparing to go public.

Download the medial app to read full posts, comements and news.