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Fuze raises $12.2 Mn in Series A round led by Galaxy and e& Capital

Entrackr

Entrackr · 2m ago

Fuze raises $12.2 Mn in Series A round led by Galaxy and e& Capital

Fuze Raises $12.2 Mn in Series A Round Led by Galaxy and e& Capital Digital assets infrastructure startup Fuze has raised $12.2 million in a Series A funding round led by Galaxy and e& Capital. Galaxy is a global digital assets and data infrastructure company, and e& is a UAE-based telecom operator. Earlier in September 2023, Fuze had raised $14 million in its seed funding round led by Further Ventures, with participation from Liberty City Ventures. This Series A funding will be used to support international expansion, product development, regulatory compliance, and team growth. Founded in 2023 by Arpit Mehta, Srijan R Shetty, and Mo Ali Yusuf, Fuze offers digital assets-as-a-service infrastructure. The firm enables financial institutions and businesses to provide regulated digital asset services. Fuze also offers stablecoin infrastructure and has expanded into payments. The startup is currently active in MENA and Turkey, where it has processed over $2 billion in digital assets volume. It plans to enter the Indian market and is engaging with local regulators to address the country’s crypto regulatory environment. Its offering allows banks and fintechs to integrate digital asset products in a B2B2C model. The founding team brings experience from firms including Goldman Sachs, VISA, Microsoft, and Checkout.com.

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Related News

Fuze, Salt Oral Care secure early-stage funding

VCCircle

VCCircle · 2m ago

Fuze, Salt Oral Care secure early-stage funding

Digital assets startup Fuze and wellness brand Salt Oral Care have secured early-stage funding. Fuze raised $12.2 million in Series A funding from Galaxy and e&, focusing on expansion, innovation, and compliance. Founded in 2023, Fuze offers digital assets infrastructure for financial institutions. Salt Oral Care received $1 million in pre-Series A funding from Lotus Holdings to boost product innovation, R&D, and marketing. It provides food-grade, chemical-free oral hygiene products.

Zetwerk raises $120 Mn at flat valuation

Entrackr

Entrackr · 1y ago

Zetwerk raises $120 Mn at flat valuation

B2B e-commerce unicorn Zetwerk has raised $120 million in a Series F funding round led by Avenir Growth Capital. However, the valuation of the Bengaluru-based company remained unchanged. This is the first equity investment for Zetwerk in 2023. The funding round also saw participation from Footpath Ventures, Greenoaks Capital, Steadview Capital, D1 Capital, and Lightspeed. Zetwerk connects buyers and suppliers for custom manufacturing jobs and operates in over 15 countries, serving more than 100 customers across various industries. The company's revenue grew significantly in FY22 while its losses increased moderately.

VC-backed Samunnati raises another $5 mn in pre-Series E round

VCCircle

VCCircle · 1m ago

VC-backed Samunnati raises another $5 mn in pre-Series E round

Samunnati Financial Intermediation Services, an agri-focused non-banking financial company, has raised Rs 42.5 crore ($5 million) from Elevar Equity as part of its pre-Series E funding round. This investment, the first equity infusion for the company this financial year, strengthens its capital base. Samunnati aims to enhance its inclusive agriculture ecosystem, benefiting farmers by integrating financial, market, and advisory services. Talks with venture capital firms for a Series E round are underway.

Exclusive: Consumer lending startup Fibe raises $66 Mn

Entrackr

Entrackr · 1y ago

Exclusive: Consumer lending startup Fibe raises $66 Mn

Digital lending platform Fibe (formerly EarlySalary) has raised Rs 547 crore or $66 million in Series E round led by TPG’s The Rise Fund and Kabira Holdings. This is the first round of investments for the Pune-based company in the past two years. The board at Five has passed a special resolution to issue 5,46,75,600 Series E CCPS at an issue price of Rs 100 each to raise Rs 547 crore, its regulatory filing accessed from the RoC shows. The Rise Fund led the round with Rs 133 crore while Kabira Holdings put in Rs 125 crore. Eight Road Ventures, Norwest Capital, and Trifecta participated with Rs 41.6 crore, Rs 62.5 crore and Rs 55 crore, respectively. Amara Partners and Chirate also invested Rs 29.17 crore and Rs 100 crore. According to filings, the company will use these funds for expansion and growth as per the business plan duly adopted by the board. This is a developing story…

Country Delight raises $20 Mn in Series E round

Entrackr

Entrackr · 1y ago

Country Delight raises $20 Mn in Series E round

Dairy brand Country Delight has secured $20 million in a Series E funding round led by Temasek, with participation from Seviora Capital and Venturi Partners. The Gurugram-based startup, which offers a variety of dairy products, bakery goods, poultry, and farm produce, plans to use the funds to expand its operations. The company has been valued at approximately $819 million after the funding round. Country Delight has raised a total of $300 million across various rounds. In FY22, its revenue grew by 69.2% to INR 543 crore, but its losses also increased significantly.

MENA Digest: Saudi firm Tuba, Iraq’s IQ Cars, UAE’s Fuze secure funding

VCCircle

VCCircle · 2m ago

MENA Digest: Saudi firm Tuba, Iraq’s IQ Cars, UAE’s Fuze secure funding

The MENA region saw a surge in dealmaking, with notable fundraises by iMENA Group, Fuze, and others. Saudi healthtech Tuba secured $8 million to enhance AI solutions for healthcare. Iraq’s iQ Cars raised a seven-figure seed round to expand its car marketplace. Fuze, a digital assets provider, secured $12.2 million for expansion. Other startups like erad, Darrbak, Techrar, and Zest Equity also raised funds to scale operations and develop new products.

Shiprocket raises $11 Mn from McKinsey at flat valuation

Entrackr

Entrackr · 1y ago

Shiprocket raises $11 Mn from McKinsey at flat valuation

Shiprocket, a logistics and supply chain solutions provider, has raised Rs 90.7 crore ($11 million) in an extended Series E funding round led by McKinsey's investment arm, AFOS LLC. This marks the first equity funding round for Shiprocket this year. Following the investment, McKinsey will hold a 0.91% stake in the company, valuing it at $1.23 billion. Shiprocket offers integration services to retailers for their e-commerce platforms and turned unicorn in August 2021. The company reported a revenue of Rs 611 crore in FY22 and a loss of Rs 93 crore.

Beco raises $10 Mn in pre-Series B round led by Tanglin

Entrackr

Entrackr · 11m ago

Beco raises $10 Mn in pre-Series B round led by Tanglin

Beco, a homegrown eco-friendly home, kitchen and personal care brand, has raised $10 million in its pre-Series B round led by Tanglin Venture Partners. The round also saw participation from Titan Capital Winners Fund, Manish Choksi, promoter of Asian paints, existing investor Rukam Capital and Synergy Capital. Earlier in December 2022, the Mumbai-based company had raised $3 million in its Series A round led by Rukam Capital and others. Entrackr had exclusively reported the Series A round in August 2022. The proceeds will be used towards innovation and expanding production capacity; developing a strong offline sales infrastructure in key geographies, and lastly, towards brand building and enhancing brand awareness. Founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia, Beco claims to be a pure eco-friendly and zero-plastic company which offers a wide range of products for home & kitchen and personal care. Its offerings include tissues, towel rolls and toiletries among others. Beco claims to have achieved an exponential 3x growth in the last year. It has a presence in 10,000 retail stores, with order values matching or exceeding those of legacy brands. In just five years, Beco has established a strong foothold in e-commerce and quick commerce platforms such as Amazon, Zepto, Blinkit, Swiggy Instamart, and DMart Ready. It is available in general trade across 20 cities and has entered modern trade, with plans to expand to other major players by the end of this quarter.

Pratilipi raises $20 Mn in Series E led by Jungle Ventures

Entrackr

Entrackr · 3m ago

Pratilipi raises $20 Mn in Series E led by Jungle Ventures

Pratilipi, a digital storytelling platform, has secured $20 million in its Series E funding round, led by Jungle Ventures. The round includes $12 million in primary investment and $8 million from secondary share sales. Notably, Qiming Venture Partners partially exited, selling 75-80% of its shares, while Shunwei Capital fully exited. Pratilipi's valuation dropped to $100 million from $265 million previously. The company specializes in text and audio narratives in multiple Indian languages and has raised over $100 million to date. Its revenue grew to Rs 57.8 crore in FY24, with a reduced net loss of Rs 58.13 crore.

Tiger Global-funded Bizongo raises $50 Mn in Series E

Entrackr

Entrackr · 1y ago

Tiger Global-funded Bizongo raises $50 Mn in Series E

Bizongo, an e-commerce focused packaging company, has raised $50 million in a Series E funding round led by existing investor Schroder Adveq. The funding, which values the startup at $980 million, comes after a gap of over a year. Bizongo offers vendor management, supply chain automation, and supply chain financing services to its enterprise customers. The company aims to post a profit before tax in the fiscal year ending March 2024.

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