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Klub aims to disburse Rs 200 Cr this festive season

EntrackrEntrackr · 1y ago
Klub aims to disburse Rs 200 Cr this festive season
Medial

Revenue-based financing platform Klub is set to disburse Rs 200 crore for this year’s festive season. The platform had disbursed Rs 100 crore in the last festive season which aimed to enhance sales on major e-commerce platforms, including Amazon, Flipkart, and Myntra. The disbursal will aid SMEs in maintaining inventory and pre-planning marketing efforts to meet the surged demand during India’s festive season, Klub said in a press-release. Klub plans to infuse the funds into D2C brands across more than 45 sectors. In 2023, Klub invested in sectors such as beauty & personal care, fashion & apparel, and cloud kitchens & restaurants. The brands that secured investment include Monrow Shoes, BRB Chips, Berrylush, and potful. The Bengaluru-based firm offers funding up to Rs 30 crore in a single tranche and works on multiple capital structures suited to the brand and founder, including term loans, credit lines, revenue financing, and more. Its initiative is in collaboration with its supply partners, particularly leading NBFCs such as U GRO Capital. According to market research, the growth in festive sales is anticipated around 10-12% and the e-commerce industry is expected to surge $111 billion this year. Co-founded in 2019 by Anurakt Jain and Ishita Verma, Klub is a revenue based financing platform which provides flexible funding up to Rs 30 crore to digital businesses and SMEs with recurring revenue. The company partners with NBFCs, HNIs, financial institutions, and its own SEBI registered fund to provide growth capital. The platform offers different capital structures for businesses across all stages (early, growth, & late) for recurring marketing, inventory, and capex expenses. Klub claims that it has deployed more than 1,700 investment rounds enabling growth for more than 650 brands. It raised $20 million in seed funding round from Peak XV’s growth program Surge, Alter Global, GMO Venture Partners, and 9Unicorns back in 2021. Klub directly competes with GetVantage, Velocity, Clearco, CRED Mint, Wayflyer, and KredX.

Exclusive: HyugaLife’s parent Pratech Brands raises $6.3 Mn in Seed round

EntrackrEntrackr · 1y ago
Exclusive: HyugaLife’s parent Pratech Brands raises $6.3 Mn in Seed round
Medial

Pratech Brands, a digital-first retailer and parent entity of HyugaLife, has raised Rs 52 crore or $6.3 million in a seed funding round led by Spring Marketing Capital and Stride Ventures. The round also saw participation from Peak XV Partners’ Surge Ventures among others. The board at Pratech Brands has passed a special resolution to issue 21,77,817 Seed compulsory convertible preference shares (Seed CCPS) at an issue price of Rs 168.15 each for a consideration of Rs 36.62 crore or $4.4 million. In a separate resolution, the company also issued 29,735 partly paid CCPS at Rs 168.15 per share and 1,500 non-convertible debentures (NCDs) Rs 1,00,000 each to Stride Ventures to raise Rs 15.5 crore, the company’s regulatory filings with the Registrar of Companies show. Stride Venture and Spring Marketing Capital led the funding round with Rs 15.5 crore and Rs 12.5 crore investments, respectively. This was followed by Surge Ventures which infused Rs 10 crore. Oorumane Mercantile, Patni Wealth Advisors, Eco Power Systems, AS Desaai Consultants, AMD Consultancy Services and individuals namely Nihir Parikh, Dhaval Parikh, Sandhya Shah, Rohan Mehta, Suhagi Parikh, Nimish Shah, Prakash Shah, Nitesh Jha, Simraan Teckchandani, Priya Ujgaonkar and Karan Jindal invested the remaining sum. As per startup intelligence platform TheKredible’s estimates, Pratech Brands has been valued at around Rs 160 crore or a little over $19 million. To date, the company has raised around $9.3 million. Note: The information is based on the three separate regulatory filings filed in June, October and December 2023. Pratech Brands is a tech-first house of brands that focuses on products relating to home and health by uncovering consumer needs and building consumer brands. Its health and wellness brand HyugaLife recently raised $1 million from Stride Ventures, and Getvantage in January. The brand is also backed by Indian cricketer K L Rahul and actress Katrina Kaif. For context, HyugaLife operates under Hyuga Health & Wellness Private Limited and Hyuga Ecommerce Ventures Private Limited, the both entities are subsidiaries of Pratech Brands Private Limited. Additionally, Pratech Brands also owns Neesan Ventures and a natural healthcare brand for female hormones, Inaari. Following the fresh capital infusion, promoters of the company Neehar Modi, Sandhya Shah, Sachin Parikh, Shruti Parikh and Anvi Shah collectively own over 52% of the company. Surge Ventures owns an 18.6% stake while Spring Marketing Capital has a 9.4% stake in the company. For the complete shareholding pattern, click here. Pratech Brands’ revenue from operations grew to Rs 4.87 crore in FY23 from Rs 1.71 lakh in FY22. As per TheKredible, the company’s losses soared to Rs 25.39 crore during FY23 as compared to Rs 99 lakh in FY22.

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