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Fintech OneStack raises $2 Mn in Series A round

EntrackrEntrackr ยท 3m ago
Fintech OneStack raises $2 Mn in Series A round
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Fintech platform OneStack has raised $2 million in its Series A round and will secure an additional $1 million led by Pentathlon Ventures, with participation from Yatra Angel Network and continued support from existing investors 100Unicorns and Venture Catalysts. The proceeds will be used to scalable technologies that drive financial inclusion and digital transformation in underserved markets. Founded by Amit Kapoor and Vishal Gupta, OneStack offers end-to-end solutions like Core Banking, Mobile Banking, NPCI UPI Switch, and BBPS Switch, allowing regional and rural banks to modernize operations and enhance services. The platform operates as a technical service provider (TSP) and application service provider (ASP), offering a unified technology stack. With over 200 cooperative banks already onboarded, OneStack claims to command a 20% market share in North and West India and supports seven out of 34 State Cooperative Banks, serving 35 crore Indians and six crore MSMEs through its infrastructure. OneStackโ€™s UPI Switch and BBPS Switch enable partner banks to independently issue branded UPI IDs and process Bharat BillPay transactions, minimizing reliance on third-party platforms. Since its last funding round, the brand has deployed over 6,000 Soundboxes in 14 regional languages.

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FINQY raises $2 Mn in fresh round

EntrackrEntrackr ยท 11m ago
FINQY raises $2 Mn in fresh round
Medial

Fintech startup FINQY has raised $2 million in a new round from Angel Bay India Accelerator, Family Offices and private investors. Earlier in March 2022, the firm had raised $839K in its seed round from Anvita Varshney, AngelBay and others. The proceeds will be used to advance financial services distribution in India through its technology and strategic growth initiatives. Founded in 2019 by Manish Aggarwal, FINQY enables its partners to offer their customers a wide range of financial products. These include credit cards, insurance, investments and loans, as well as easy upsell and X-sell opportunities among these products. The startup helps streamline complex financial decisions across credit cards, insurance, and loans but also significantly enhance customer engagement and facilitate informed decision-making FINQY operates out of 30 offices across 24 cities and 2 countries with the support of over 100 financial and banking partners. It claims to have achieved a revenue milestone of $9.8 million in FY24.

10 min food delivery startup Swish raises $14 Mn

EntrackrEntrackr ยท 4m ago
10 min food delivery startup Swish raises $14 Mn
Medial

Exclusive: 10 min food delivery startup Swish raises $14 Mn Swish, a 10-minute food delivery startup, has secured Rs 122.32 crore in its Series A funding round, led by Hara Global Capital and existing investor Accel India. This follows just three months after its $2 million seed round. The board at Swish has passed a special resolution to issue 4,762 Series A compulsory convertible preference shares at an issue price of Rs 2,56,334 each to raise Rs 112.3 crore or $14 million, its regulatory filing accessed from the Registrar of Companies shows. Hara Global Capital led the round with Rs 69.56 crore while Accel India invested Rs 52.18 crore. Kunal Shah-led QED innovation, and Gaurav Munjal (CEO of Unacademy) and Sumer Juneja, investment advisor at SoftBank, participated with Rs 20.5 lakhs, Rs 5 and Rs 30.7 lakh respectively. According to Entrackr's estimates, the company has been valued at around Rs 522 crore or $60 million post-allotment. After the new funding round, Hara Global Capital will own 13.33%, while Accel India will hold a 27.24% stake in the company. Co-founders Aniket Sunil Shah, Sureshkumar Sarana, and Ujjwal Sukheja will each retain a 16.38% share following the Series A round. Founded in 2024, Swishโ€™s 10-minute delivery model operates within a 1.5โ€“2 km radius using cloud kitchens called โ€˜delight centers,โ€™ ensuring fresh and hygienic food is delivered swiftly through its optimized full-stack approach. Swish is competing in the fast-expanding instant food delivery market, where Zomato, Swiggy, and Zepto are leading the charge. Zomato-owned Blinkit has also launched Bistro, a standalone app for instant food delivery. In December, Bhavish Aggarwal-led Ola entered the segment, while emerging players like Magicpin and Zing are gaining traction. The latest entrant to the space is cloud kitchen unicorn Rebel Foods, which has introduced a new app called QuickiES.

DrinkPrime raises $3 Mn from SIDBI Ventures

EntrackrEntrackr ยท 1y ago
DrinkPrime raises $3 Mn from SIDBI Ventures
Medial

DrinkPrime, a subscription-based reverse osmosis (RO) water supplying startup, has raised $3 million from SIDBI Venture Capital Ltd. (SVCL), an investment management company and a wholly owned subsidiary of SIDBI. The Bengaluru-based startup had raised Rs 60 crore ($7.5 million) in a mix of equity and debt round led by Omidyar Network India, others in July 2022. Prior to that, it raised around Rs 21 crore in its pre-series A round led by Peak XVโ€™s Surge in August 2021. Founded in 2016 by Vijender Reddy and Manas Ranjan Hota, DrinkPrime works towards enabling access to clean drinking water with Internet-of-Things (IoT)-enabled customised water purifiers on subscription to users. DrinkPrime currently provides clean drinking water access to over 2 lakh families across seven cities in India. With further expansion plans, DrinkPrime is also gearing up for its Series B fundraise. According to startup data intelligence platform, TheKredible, DrinkPrime reported an operating revenue of Rs 28.94 crore with a loss of Rs 27 crore in FY23. In the subscription model, DrinkPrime competes with Livpure, Acquaguard and ZunPure.

Seekho app raises $8 Mn in Series A led by Lightspeed

EntrackrEntrackr ยท 7m ago
Seekho app raises $8 Mn in Series A led by Lightspeed
Medial

Learning-focused OTT platform Seekho has raised $8 million in its Series A round, with Lightspeed leading the investment, according to a LinkedIn post by the companyโ€™s founder and CEO, Rohit Choudhary. The round also saw participation from Elevation Capital. Previously, the Bengaluru-based startup raised $3 million from Elevation and other investors in March of last year. Entrackr exclusively reported about the deal in September. โ€œThis is a testament to the trust our users, team, and investors place in us as we build India's go-to short video platform for Lifelong Learning,โ€ said Choudhary via Linkedin post. While the company did not provide many details about the round, it was expected to be valued at around $45 million. Founded in 2020 by Choudhary, Keertay Agarwal, and Yash Banwani, Seekho helps individuals acquire new skills and knowledge. The platform offers a variety of courses to prepare learners for careers in fields such as parenting, the stock market, Instagram, and education, among others. Targeting audiences in tier-II cities and beyond, Seekho delivers educational content through short 2-5 minute videos in episodic series. The platform provides flexible subscription plans, with weekly and monthly options starting at Rs 149. According to startup data intelligence platform TheKredible, Elevation Capital acquired nearly a 24% stake in the company after the pre-Series A round. All three co-founders held 16.65% stake each as of that round. As per Entrackr's sources, Seekho is expected to dilute 20% of its equity in the Series A financing round.

Exclusive: Miko raises fresh capital at over $200 Mn valuation

EntrackrEntrackr ยท 10m ago
Exclusive: Miko raises fresh capital at over $200 Mn valuation
Medial

Robotics firm Miko, a product of Emotix, has raised Rs 20.5 crore (approximately $2.5 million) in a new round from a group of angel investors. This fresh equity infusion comes after a two-year hiatus for the Mumbai-based company. The board at Miko has passed a special resolution to issue 679 Series C CCPS at an issue price of Rs 3,02,695 each to raise Rs 20.55 crore or $2.5 million, its regulatory filing accessed from the Registrar of Companies shows. Moneycrew Fintech injected Rs 4.5 crore while the rest of the sum was poured in by angel investors including Amrapali B Doshi, Sanjiv Sarita, Amit Jain, Satyam Sinha, Inderjit Kaur Arora, and others. According to TheKredibleโ€™s estimates, the company has been valued at around Rs 1,711 crore or $206 million post-allotment. This is a 2.3X jump in the valuation as compared to its last equity round. Miko creates emotionally intelligent robots that leverage artificial intelligence and the Internet of Things (IoT) in developing its flagship brands Miko, Miko 2 and Miko 3. After the success of its first-generation robots, the company launched an advanced version that uses voice-recognition technology to see, hear, sense, express, talk, and recognize faces. Miko has raised over $60 million to date including its $29 million Series B round led by Ivycap Ventures in 2021. According to the startup data intelligence platform TheKredible, prior to this round Chiratae Ventures was the largest external stakeholder with 13.77% followed by IvyCap Ventures with 13%. See TheKredible for the complete shareholding pattern. The Chiratae-backed startup showcased impressive 2.3X growth to Rs 225 crore in FY23 from Rs 95 crore in FY22. However, the bottom of the company stood at Rs 108 crore in FY23. Miko is yet to file annual results for FY24.

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