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Exfinity Ventures leads $6.7 Mn Series A round in Aarna.ml

EntrackrEntrackr · 1y ago
Exfinity Ventures leads $6.7 Mn Series A round in Aarna.ml
Medial

Aarna.ml, an open-source GPU-as-a-Service (GPUaaS) AI Cloud software, has raised $1.25 million in Series A funding round from Exfinity Venture Partners. The company had previously raised $6.5 million co-led by NVIDIA, LDV Partners, 3Lines, CARAT Venture Partners, and others back in October 2023. The proceeds will be used to extend its platform to the GPU reference architectures that include high-speed networks and storage, Aarna said in a press release. Co-founded in 2018 by Amar Kapadia and Sriram Rupanagunta, Aarna.ml enables GPU-as-a-service providers and NVIDIA Cloud Partners (NCP) to offer hyper scaler-grade multi-tenant GPU instances with full isolation while leveraging a common underlying GPU pool. It aims to empower the AI Cloud landscape. Aarna claims to have served companies like Tigo, LGE, Equinix, Keysight, CableLabs, and CapGemini Engineering. Exfinity Venture Partners focuses on early-stage B2B investments in deep tech and SaaS. It has backed startups like Autoverse, CloudSek, Cult.fit, Kinara.ai, Locus, Log9, MoEngage, Pixis, Skit.Ai, among others.

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Chara Technologies raises $6 Mn in Series A led by Arkam Ventures

EntrackrEntrackr · 1m ago
Chara Technologies raises $6 Mn in Series A led by Arkam Ventures
Medial

Chara Technologies raises $6 Mn in Series A led by Arkam Ventures Chara Technologies, a deep-tech powertrain solutions company developing rare-earth-free motors and controllers, has raised Rs 52 crore (about $6 million) in Series A funding round led by Arkam Ventures along with participation from Exfinity Venture Partners, Kalaari Capital, and IIMA Ventures. The Bengaluru-based company had previously raised $4.75 million in its pre Series A funding round led by Exfinity Venture Partners. The funds will be used to set up a new Bengaluru factory, launch advanced motor variants, and enhance its powertrain and in-house tech capabilities, Chara Technologies said in a press release. Co-founded in 2019 by Bhaktha Keshavachar, Mahalingam Koushik, and Ravi Prasad, Chara Technologies specializes in the development of rare-earth-free electric motors and controllers for various applications, including Electric vehicles, both on-highway and off-highway, Industrial applications, and Agricultural equipment. According to Chara Technologies, it has built a synchronous reluctance architecture that eliminates magnets entirely, making its motors 15-20% more cost-effective and significantly more sustainable, while still matching the performance of PMSMs (Permanent magnet synchronous motors). Its products deliver improved vehicle range, reduce energy losses, and lower total cost of ownership (TCO). Chara’s proprietary motor control algorithms, power electronics architecture, and software form the foundation of its end-to-end powertrain system, enabling superior system efficiency and scalability across applications. The firm boasts of close to 100 customers, including Greaves Cotton, BullWork, Sonalika, VST, and European OEMs. With Greaves Cotton, Chara has entered into a strategic partnership to jointly manufacture rare-earth-free synchronous reluctance motors and controllers at Greaves. With footprints in Belgium and Italy, Chara plans to target North America and a deeper presence in Europe. The company is also targeting a 6x top line growth, from FY25 to FY26, with a goal of selling 40,000 motors by FY27.

Eccentric Engine raises $5 Mn in pre-Series A round

EntrackrEntrackr · 10m ago
Eccentric Engine raises $5 Mn in pre-Series A round
Medial

Eccentric Engine, a 3D tech partner for automotive players, has raised $5 million in its pre-Series A round co-led by Exfinity Venture Partners and Arkam Ventures. This marks the first external funding for the company. The proceeds will be used to expand Eccentric’s global footprint and to ramp up further development of its proprietary One3D platform. Founded in 2012 by Gaurav Rane and Varun Shah, Eccentric developed One3D, a real-time 3D rendering platform tailored for online retail experiences for automotive OEMs and dealerships. One3D is designed specifically for enterprises, ensuring easy integration into all OEM workflows, including their dealership operations. It brings in optimization in the 3D pipeline that allows auto brands to demonstrate 3D omnichannel expertise with speed and accuracy to market. Its clients include Maruti Suzuki, Tata Motors, Toyota, Hyundai, and Stellantis, among others.

Blume Ventures leads $3.4 Mn round in Zoplar

EntrackrEntrackr · 11m ago
Blume Ventures leads $3.4 Mn round in Zoplar
Medial

Blume Ventures leads $3.4 Mn round in Zoplar In total, Bengaluru-based Zoplar has raised $5.1 million in funding, with contributions from Titan Capital, Stride Ventures, and Panthera Peak. Zoplar, a platform dedicated to enhancing the medical equipment procurement process for small and medium-sized hospitals, has raised $3.4 million in a Series A funding round led by Blume Ventures. The round also saw participation from Beenext, Saison Capital, Atrium Angels, Finfirst, and LogX. In total, the company has raised $5.1 million in funding, with contributions from Titan Capital, Stride Ventures, and Panthera Peak. The proceeds will be utilized to strengthen its operational capabilities by focusing on backward integration in the supply chain and developing a robust service engineering team, Zoplar said in a press release. Co-founded in 2022 by Amit Sah and Umesh Sharma, Zoplar crafts a full-stack medical equipment platform and addresses significant pain points MSME hospitals face, including the complexities of identifying price-optimal products, managing multiple vendor relationships, ensuring high-quality after-sales service, and accessing financing solutions. Since its inception, Zoplar claims that it has gained significant momentum in the market, partnering with approximately 300 hospitals, including prominent nephrology chains such as DCDC. The Gurugram-based company boasts a 40% rate of repeat customers, underscoring the demand for quality medical equipment in the sector.

Pravega Ventures leads $3 Mn pre-Series A round in Constelli

EntrackrEntrackr · 10m ago
Pravega Ventures leads $3 Mn pre-Series A round in Constelli
Medial

Pravega Ventures leads $3 Mn pre-Series A round in Constelli Aerospace and defence tech startup Constelli has raised $3 million in a pre-Series A funding round led by Pravega Ventures. This is the company's first institutional funding round. The proceeds will be deployed towards capital expenditure and research and development (R&D) of new products, Constelli said in a press release. Co-founded in 2017 by Satya Gopal Panigrahi and Avinash Chenreddy, Constelli specializes in developing advanced signal processing solutions and tools that enhance the design, development, and testing of critical aerospace and defence systems. According to the Hyderabad-based company, it leverages modern technologies and advancements in hardware and software, modeling and simulation, and distributed computing to achieve transformation. The company focuses on enhancing technical sophistication and expediting the development lifecycle of payloads for airborne and ground defence platforms. Constelli says that its products and services are used globally by organizations developing radar and electronic warfare (EW) systems. The company claims that it serves India's Ministry of Defence, the Defence Research and Development Organisation (DRDO), and defence contractors in South Korea, Australia, and Singapore. The other notable players in this space are NewSpace Research & Technologies, IdeaForge, Garuda Aerospace, and others.

Fast Fashion brand Newme to raise $12 Mn at $112 Mn valuation

EntrackrEntrackr · 10d ago
Fast Fashion brand Newme to raise $12 Mn at $112 Mn valuation
Medial

Women-focused fast fashion brand Newme has kicked off a Series B round with Rs 108.66 crore (approximately $12 million) co-led by existing investors Accel India, Fireside Ventures, and with the participation of new investor Point72 Ventures and others. Newme had secured $18 million in a Series A round led by Accel in July last year. The Newme’s board passed a special resolution to issue 3,447 Series B CCPS at an issuance price of Rs 3,15,231 per share to raise the amount as mentioned earlier, according to its regulatory filing with the Registrar of Companies (RoC). Accel India and Fireside Ventures will each invest Rs 36.94 crore ($4 million), while Point72 Ventures will join the captable with Rs 26.38 crore ($3 million). AUM Ventures, 2am Ventures, and A, Paul SRC SPV V, LLC will contribute the remaining amount. According to Entrackr’s analysis, the D2C firm’s valuation is set to rise by about 41% to Rs 988 crore ($112 million), compared to its earlier valuation of Rs 700 crore during the Series A funding round. Founded by Shivam Tripathi, Sumit Jasoria, Himanshu Chaudhary, and Vinod Naik, the Bengaluru-based startup sells women-centric products targeting Gen Z, across both online channels and offline stores. According to its website, the company’s app has more than 7 million downloads, and it operates 16 offline outlets across cities, including Bengaluru, Mumbai, New Delhi, Chandigarh, Pune, and Hyderabad, among others. According to startup data intelligence platform TheKredible, Newme has raised over $23 million across two funding rounds, including its seed round in January 2024. Following the latest infusion, Fireside Ventures will become the largest external shareholder with a 19.27% stake, followed by Accel India at 17.06%, while new investor Point72 Ventures will hold 2.67%. The company’s co-founders will collectively retain 31.45% ownership. Financially, Newme reported Rs 48.28 crore in operating revenue for the fiscal year ended March 2024, with a loss of Rs 35.75 crore. The company has yet to disclose its FY25 financials.

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