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Sauce.vc leads Rs 11 Cr round in gaming startup MetaShot

EntrackrEntrackr · 5m ago
Sauce.vc leads Rs 11 Cr round in gaming startup MetaShot
Medial

Snippets Sauce.vc leads Rs 11 Cr round in gaming startup MetaShot Console gaming startup MetaShot has secured Rs 11 crore in a combination of equity and debt financing led by Sauce.vc, along with Sharrp Ventures and Panthera Peak Capital. The Bengaluru-based company had previously raised $988K from Inflection Point Ventures and others. The proceeds will be used for team expansion, R&D, growth, and brand building, MetaShot said in a press release. Co-founded in 2021 by Prince Thomas, Ranjit Kumar Behera and Ajith Sunny, MetaShot aims to empower the gaming industry by bringing the console-gaming experience to a wider audience, using a homegrown technology with a pending patent. The company’s Smart Bat tracks a user's real-world shots, translating them into virtual shots within the MetaShot game. According to MetaShot, it started selling the MetaShot smart bat in August 2023. The product is now available across India through e-commerce websites, quick commerce platforms and offline channels. The company recently expanded into the Middle East and plans to soon launch in the USA. Recently, the company was also prominently featured in the Shark Tank India Season 4 trailer. According to market research, globally, console gaming is currently valued at $50.9 billion and is expected to reach $91.24 billion by 2033. In India, this market is valued at $2.2 billion and is projected to grow to $8.6 billion by 2028. MetaShot aspires to become a platform that offers a diverse range of games, merging the physical and virtual world. In the current financial year, the company is projected to grow 5x in revenue from the last financial year. The startup claims that it has seen over 8 lakh matches on its platform in the short span of time.

Sauce.VC floats third VC fund with target corpus of Rs 250 Cr

EntrackrEntrackr · 1y ago
Sauce.VC floats third VC fund with target corpus of Rs 250 Cr
Medial

Consumer-focused early-stage venture capital firm Sauce VC has launched its third fund with a target to raise Rs 250 crore, according to an ET report. Sauce.VC had received clearance from the Securities and Exchange Board of India (Sebi) a few weeks ago for the new fund. The New Delhi-based firm invests in new-age consumer brands and platforms at a pre-revenue or idea stage. To date, it has invested in 21 companies from its two separate funds that were launched in 2019 and 2021. Sauce.VC launched its first fund in 2019 with a target corpus of Rs 60 crore. It launched its second vehicle in 2021 with a fund size of Rs 158 crore. Its latest Sauce Continuity Fund was closed with a corpus of Rs 263 crore. It has already invested in XYXX, The Whole Truth Foods, Mokobara, Innovist, and Supertails from the continuity fund, and has plans to add oral care brand Perfora, ice cream brand Hocco and energy drink Rockit to the list of top-ups.

Exclusive: XYXX raises fresh funds led by Niveshaay Sambhav Fund

EntrackrEntrackr · 4m ago
Exclusive: XYXX raises fresh funds led by Niveshaay Sambhav Fund
Medial

Men-focused premium innerwear and lifestyle brand XYXX is raising Rs 30 crore ($3.6 million) in a funding round led by Niveshaay Sambhav Fund, with participation from Anicut Capital, DSG Consumer Fund, and Sauce Continuity Fund. The board at XYXX has passed a special resolution to issue 1,81,818 Series B2 CCPS at an issue price of Rs 1,650 each to raise the aforementioned sum, its regulatory filing accessed from the Registrar of Companies shows. Niveshaay Sambhav Fund will invest Rs 9.93 crore, while Anicut Capital, Sauce Continuity Fund, and DSG Consumer Partners will contribute Rs 7.95 crore, Rs 4.96 crore, and Rs 1.99 crore, respectively. The remaining amount will be invested by Singularity Growth, Selenium Trust, Veena Merchants, and Arun Venkatachalam HUF. XYXX will use these proceeds to meet the capex and working capital requirements for the ongoing operations. According to Entrackr's estimates, it will be valued at around Rs 820 crore post-allotment. XYXX is a lifestyle brand specializing in underwear, loungewear, and athleisure, crafted from premium fabrics. The company claims to have built a network of over 18,000 retailers across 50 cities. Besides its own website, XYXX retails on various marketplaces and claims to be among the top three innerwear brands. In FY23, the company launched its first store in central Mumbai and now plans to expand with new outlets in Indore and Bangalore. XYXX has raised Rs 250 crore to date, including Rs 110 crore led by Amazon Smbhav Venture Fund in May 2023. According to the startup data intelligence platform TheKredible, before this round, Sauce.vc was the largest external stakeholder, followed by DSG Consumer Fund and Amazon Smbhav Venture Fund. XYXX recorded a 25% year-on-year revenue growth, rising from Rs 105 crore in FY23 to Rs 131 crore in FY24. Simultaneously, the company trimmed its losses by 22.2% to Rs 35 crore in FY24.

D2C luggage brand Mokobara bags $12 million in new Peak XV-led round

EntrackrEntrackr · 1y ago
D2C luggage brand Mokobara bags $12 million in new Peak XV-led round
Medial

Direct-to-consumer (D2C) luggage brand Mokobara has raised $12 million or Rs 100 crore in a Series B funding round led by Peak XV Partners (formerly Sequoia Capital India). This is the first funding round of the Bengaluru-based company in 2024. Existing investors Sauce VC and Saama Capital have also participated in the round. The board at Mokobara has passed special resolutions to issue 4,183 Series B compulsory convertible preference shares (CCPS) at an issue price of Rs 2,39,110.51 per share to raise Rs 100 crore, the company’s regulatory filings with the Registrar of Companies show. Peak XV Partners led the round with Rs 78.26 crore while Sauce VC and Saama Capital poured in Rs 15.47 crore and Rs 6.29 crore, respectively. As per startup intelligence platform TheKredible, Mokobara has been valued at around Rs 700 crore or $84.5 million (post-money). The company has raised around $23.6 million to date. Before this fundraise, it raised $3.6 million in funding from Saama Capital, Sauce VC, and Alteria Capital in October 2023. Founded in 2020 by former Urban Ladder executives Sangeet Agrawal and Navin Parwal, Mokobara offers a wide range of wallets, travel bags, kits, sling bags, and other travel accessories. Post-allotment of the round, Peak XV Partners own 11.18% shares while Saama Capital and Sauce VC have 14.32% and 19.41% stakes in the company. Visit here for more details. Mokobara’s revenue from operations jumped 4.4X to Rs 53.27 crore during FY23 from Rs 12.18 crore in FY22. As per TheKredible, its losses surged 78.5% to Rs 8.21 crore in FY23 as compared to Rs 4.6 crore in FY22.

Ice cream brand Hocco raises $10 Mn in first close of Series B round

EntrackrEntrackr · 2m ago
Ice cream brand Hocco raises $10 Mn in first close of Series B round
Medial

Premium ice cream brand Hocco has raised $10 million as the first tranche of its $20 million Series B round, co-led by promoter Chona Family Office and consumer-focused venture capital firm Sauce VC. The fresh round has come within a year for the Ahmedabad-based company. It scooped up $12 million in its Series A round from the same investors at a valuation of Rs 600 crore ($70 million). The company said the second close of the round is expected later this year. The fresh funds will be deployed towards expanding Hocco’s manufacturing capacity, strengthening distribution networks, and entering new markets across India. A portion of the capital will also be allocated to new product development and brand marketing. Founded by the Chona family — former owners of legacy ice cream brand Havmor — Hocco offers a mix of regional and globally inspired flavours across retail, QSR, and quick commerce channels. The company aims to close FY25 with Rs 500 crore in revenue. According to startup data intelligence platform TheKredible, it reported only Rs 32.38 crore in revenue in FY24 with a Rs 20.23 crore loss. Besides legacy players such as Amul, Vadilal, and Hindustan Unilever (HUL), Hocco competes with new-age ice cream brands such as Walko Foods’ NIC, Hangyo, Go Zero, NOTO Ice Cream, among others. In February 2024, NIC raised $20 million in a new funding round led by Jungle Ventures, a year after raising $11 million led by the same investor. Last year, Hangyo raised $25 million (around Rs 211 crore) from Faering Capital. NOTO and Go Zero also announced their initial fundraises.

Deconstruct raises Rs 65 Cr from L’Oréal’s VC fund BOLD and others

EntrackrEntrackr · 5m ago
Deconstruct raises Rs 65 Cr from L’Oréal’s VC fund BOLD and others
Medial

Deconstruct raises Rs 65 Cr from L’Oréal’s VC fund BOLD and others Deconstruct, a D2C skincare brand, has secured Rs 65 crore ($7.7 million) in funding from L’Oréal’s VC fund BOLD, V3 Ventures, and DSG Consumer Partners, with participation from existing investors Kalaari Capital and Beenext. The funds will support product innovation, leadership in sunscreen and serums, the gentle actives space, and expansion into quick commerce and retail. Founded by Malini Adapureddy, Deconstruct offers skincare for all skin types, focusing on products tailored for India's climate. Deconstruct states it saw 1,000% growth in FY25, achieving annualized net revenue of Rs 200 crore, while reducing losses by 33% during FY24.

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