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Ninecamp Ventures raises $2 Mn in seed round

EntrackrEntrackr · 1y ago
Ninecamp Ventures raises $2 Mn in seed round
Medial

Ninecamp Ventures, a new generation food and beverage firm, has raised $2 million (Rs 16 crore) in its seed round from notable angels and non-institutional investors. The funding round saw participation from a cohort of esteemed investors, including Mohit Gupta, Gaurav Gupta (former Zomato co-founders), Varun and Ghazal Alagh (founders MamaEarth), Vikram Chopra, Ruchit Agarwal, Mehul Agrawal, Gajendra Jangid (founders Cars 24), Vir Das (comedian, actor), and Divine (musician), Atul Singh (ex-chairman, Coca-Cola Asia Pacific), Dharmil Sheth (co-founder, PharmEasy), Utsav Somani (ex AngelList), Ritesh Kumar (managing director, DS Group), Aaditya Mittal (founder, Punnya). The proceeds will be used to further expand its brand portfolio, acquire prime real estate, onboard talent, and invest in research and development for innovative concepts and products. Founded by Chaitanya Mathur, Ninecamp plans to create brands that align with the evolving market and the aspirations of Indian consumers. The firm envisions introducing a new wave of experiential dining with a key focus on global standard offerings – in product, service, design, and ingredients, crafting brands for India and from India. For the uninitiated, Mathur had played a pivotal role in establishing Zomato’s live business by creating Zomaland. In April this year, the firm launched its first restaurant, Marièta, a Latin American-inspired restaurant and agave-forward bar, at Two Horizon Center, Gurugram.

Blue collar recruitment platform Vahan raises $10 Mn in Series B

EntrackrEntrackr · 10m ago
Blue collar recruitment platform Vahan raises $10 Mn in Series B
Medial

Blue collar recruitment platform Vahan.ai has raised $10 million in its Series B funding round led by Khosla Ventures. The round also saw participation from Y Combinator, US-based VC firm Gaingels, and Paytm founder Vijay Shekhar Sharma. In September 2021, the Bengaluru-based startup had raised $8 million in a Series A round led by Khosla Ventures. Vahan was a part of Airtel’s Startup Accelerator Program and the telecom giant also picked up an 8.82% stake in the Madhav Krishna-led firm in October 2019. The fresh funds will be used to develop AI recruitment technology that supports eight major Indian languages, Vahan said in a press release. Currently, Vahan’s AI recruiter conducts interviews in English and Hindi. It also plans to expand into industries such as manufacturing and retail. Since its launch in 2016, Vahan claims to have recruited over 500,000 workers in more than 480 cities with leading companies such as Zomato, Swiggy, Flipkart, Zepto, Blinkit, Amazon, Rapido, and Uber. With over 25,000 recruits each month, Vahan reduces costs and turnaround time for recruitment. For the fiscal year ending March 2023, Vahan reported Rs 29.7 crore in operating revenue with a loss of Rs 17.71 crore. While the firm has yet to file its annual report for FY24, it expects to grow 2X or more in FY25. In the blue-collar recruitment sector, Vahan had faced initial competition from the likes of Baba Jobs and Aasaan Jobs. However, both struggled to grow and eventually merged with Quikr and OLX in 2017 and 2019, respectively. Tiger Global-backed Apna, which became a unicorn in 2021, emerged as a major competitor after the pandemic.

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