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GIC leads $46 mn funding in fruit marketplace Vegrow as early investors exit

VCCircle

VCCircle · 1y ago

GIC leads $46 mn funding in fruit marketplace Vegrow as early investors exit

Vegrow, a B2B agritech platform, has concluded its Series C funding round, led by Singapore sovereign wealth fund GIC. The round, totaling $46 million, includes both primary and secondary capital and provides an exit for early investors such as Better Capital and Titan Capital. Vegrow's valuation now stands at around $285-290 million. The funding will be used to expand the company's presence within India and enhance its international network. Vegrow connects farmers and customers through its fruit marketplace, accurately grading produce to match supply and demand channels.

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Fresh From Farm raises $2 Mn in pre Series A round

Entrackr

Entrackr · 1y ago

Fresh From Farm raises $2 Mn in pre Series A round

Fresh From Farm, a B2B2C platform for fresh fruit demand, has raised $2 million in its pre-Series A round led by Ashish Kacholia, founder of Lucky Investments. Inflection Point Ventures also participates in the round. The proceeds will be used for team expansion, tech enhancement, and to introduce new product lines. Fresh From Farm has also provided a partial exit to early investors offering more than 400% returns. Its early investor IPV led Rs 3 crore seed round in the company in November 2022. Founded by Rohit Nagdewani, Fresh From Farm uses a proprietary tech interface to predict and create a demand-supply equilibrium to minimise wastage of fresh produce. Its falgship product F3 converts fruit vendors into mini-franchises and sources, grades and handles fruit for them allowing them to focus on only sales. Fresh From Farm claims to have an ARR of Rs 40 crore with an aim to touch Rs 100 crore by this calendar year end. Other notable startups in the same space include Vegrow and Ninjacart.

Captain Fresh backer Ankur Capital nears final close of third VC fund

VCCircle

VCCircle · 2m ago

Captain Fresh backer Ankur Capital nears final close of third VC fund

Ankur Capital, a Mumbai-based early-stage venture capital firm, is nearing the final close of its third fund. Known for investing in digital and deep science tech companies in India, Ankur Capital has previously backed companies such as seafood marketplace Captain Fresh, fintech startup Rupifi, and B2B food platform Vegrow. The firm's strategic focus includes nurturing promising startups in the biotech and technology sectors to drive innovation and growth.

GIC mints money as Spain’s Ferrovial buys into IRB InvIT for $810 mn

VCCircle

VCCircle · 1y ago

GIC mints money as Spain’s Ferrovial buys into IRB InvIT for $810 mn

Singapore sovereign wealth fund GIC is selling almost half its stake in IRB Infrastructure Trust, an infrastructure investment trust in India, for €740m ($810m). GIC is offloading 24% of the units in the InvIT and a similar stake in its investment manager to Cintra, a subsidiary of Spanish infrastructure development company Ferrovial. GIC had acquired a 49% stake in the InvIT in 2019 for $621m. Following the partial exit, GIC retains a 25% stake in the InvIT and the investment manager.

Darwinbox’s early investors look to exit at a 10-15% discount amid SaaS slowdown

Livemint

Livemint · 1y ago

Darwinbox’s early investors look to exit at a 10-15% discount amid SaaS slowdown

Early investors in HR technology platform Darwinbox, such as Lightspeed Ventures and Endiya Partners, may exit the company partially or completely in a secondary funding round. Other early investors, including Peak XV and StartupXseed, may also exit depending on the deal. Darwinbox became a unicorn in 2022 after a $72 million Series D funding round and received additional funding in January 2023. The company aims to become profitable and go public by 2025. However, the SaaS industry has seen a slowdown, leading to changes in pricing models and lower valuation multiples.

Fruit Supply Startup Superplum Bags $15 Mn In Series A Round

Inc42 · 1y ago

Fruit Supply Startup Superplum Bags $15 Mn In Series A Round

Noida-based fruit supply startup, Superplum, has raised $15 million in a Series A funding round led by Erik Ragatz, former partner of private equity firm Hellman & Friedman. Superplum, founded in 2019, connects fruit farmers and orchards with retailers and grocery delivery platforms through its B2B2C platform. The funds will be used to streamline the supply chain and expand the infrastructure. Superplum reported a loss of INR 18 crore against a revenue of INR 11 crore in FY23. The startup previously raised around $7 million in seed funding from investors like SoftBank and Flipkart cofounder Binny Bansal.

Captain Fresh to file IPO papers by mid-August, launch $50-75 mn pre-IPO round

Livemint

Livemint · 18d ago

Captain Fresh to file IPO papers by mid-August, launch $50-75 mn pre-IPO round

Captain Fresh, a B2B seafood marketplace, plans to file its draft red herring prospectus (DRHP) for an IPO by mid-August. The seafood company aims for a $400 million IPO within this fiscal year. Prior to the IPO, the firm will conduct a $50-75 million pre-IPO round, where seed investors might partially or fully exit. Previously, Captain Fresh was valued at over $500 million after a $48 million funding round.

Global firms buy PB Fintech stakes from early backers

Economic Times

Economic Times · 1y ago

Global firms buy PB Fintech stakes from early backers

Capital Group, T Rowe Price, Fidelity, and Vanguard have all acquired stakes in PB Fintech, the parent company of insurance marketplace Policybazaar and credit marketplace Paisabazaar. Capital Group now owns around 10% of the company, with these transactions occurring through multiple bulk deals as early-stage investors exit the firm. Domestic institutional players have also purchased stakes in PB Fintech, and insurance companies including SBI Life, Max Life Insurance, and Bajaj Life have invested a combined INR 2,900 crore in the parent company. Other Indian tech companies, such as Paytm and Zomato, have also seen increased institutional investment.

Shadowfax Raises $100 Mn To Expand Its Last Mile Delivery Services

Inc42 · 1y ago

Shadowfax Raises $100 Mn To Expand Its Last Mile Delivery Services

Logistics services startup Shadowfax has raised $100 million in Series E funding led by TPG NewQuest, with participation from existing investors including Flipkart, International Finance Corporation, and Qualcomm. This funding round also allowed Eight Roads Ventures, an early investor in the company, to partially exit. Shadowfax plans to use the capital to strengthen its middle-mile network and expand its last-mile delivery services. The startup, founded in 2015, operates across 15,000 pin codes in India and processes 1.5 million orders per day.

Exclusive: Yu Foods Nets $6.5 Mn Led By Ashish Kacholia, Asian Paints Promoter Group

Inc42 · 9m ago

Exclusive: Yu Foods Nets $6.5 Mn Led By Ashish Kacholia, Asian Paints Promoter Group

A startup has raised funding to strengthen its distribution network and expand its product portfolio. The funding round involved both existing and new investors, providing an exit for some seed stage investors.

Grapevine: Flipkart, Switz Group, Theobroma, Apna Mart, and Amazon India in news

VCCircle

VCCircle · 8m ago

Grapevine: Flipkart, Switz Group, Theobroma, Apna Mart, and Amazon India in news

Flipkart is reportedly planning to go public in the next 12-15 months, as per media reports. Switz Group has partnered with Singapore's GIC to make a bid for Theobroma. Amazon India has recently experienced another high-profile exit, while Apna Mart is nearing the end of a funding round.

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