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Halden secures Rs 5 Cr from Prajay Advisors

EntrackrEntrackr · 12m ago
Halden secures Rs 5 Cr from Prajay Advisors
Medial

Mumbai-based luxury men’s brand Halden has raised 5 Rs crore in a seed funding round led by Prajay Advisors. The fresh funds will be used to expand its market presence and product range, Halden said in a press-release. Co-founded in 2019 by Anuj Beriwal and Mukund Singhal, Halden aims to provide access to premium luxury products at an affordable price. The startup manufactures belts, sunglasses, accessories, travel goods and business essentials. Haldèn claims to have served over 1 lakh customers since inception from tier I and tier II cities. The startup intends to expand its offline presence and to enhance brand visibility, increase sales, and penetrate new online & retail markets. Halden empowers the luxury market in India, making high-quality, affordable luxury products accessible to a broader audience.

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Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation

EntrackrEntrackr · 5m ago
Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation
Medial

Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation Wealth management platform Waterfield Advisors is raising Rs 123 crore (approximately $14.6 million) in a new funding round, led by Jungle Ventures. The company’s board has approved a special resolution to issue 10,92,362 preference shares at an issue price of Rs 1,126 each, raising Rs 123 crore ($14.6 million), according to its regulatory filing accessed from the Registrar of Companies. Jungle Ventures is leading the funding round with an investment of Rs 100 crore. The remaining amount is being contributed by co-founder and CEO Soumya Rajan, along with individual investors, including Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh. The company plans to utilize the proceeds for growth, expansion, marketing, and general corporate purposes, as determined by the board. According to Entrackr estimates, Waterfield Advisors will be valued at approximately Rs 723 crore ($86 million) post-allotment. The company is reportedly raising Rs 130 crore in this round. Founded in 2011 by Soumya Rajan, Waterfield Advisors is a fee-based multi-family office and wealth advisory firm, that ensures unbiased financial, investment, and succession planning services. Waterfield advisors had raised over $25 million in funding to date including $6 million from family offices, and ultra-high net worth individuals. According to the startup data intelligence platform TheKredible, Jungle Ventures will be the largest external stakeholder with 13.83%. Its co-founders Soumya Jain along with Sanjay Teli will cumulatively hold 40.07% of the company. Waterfield Advisors has recorded a 33.2% year-on-year increase in its revenue to Rs 45.7 crore in the fiscal year ended March 2024. Moreover, it managed to decrease losses by 9.5% to Rs 28.6 crore in FY24.

Fintech startup Care.fi secures Rs 8 Cr in debt

EntrackrEntrackr · 10m ago
Fintech startup Care.fi secures Rs 8 Cr in debt
Medial

Healthcare-focused fintech startup Care.fi has raised Rs 8 crore in debt capital, securing Rs 5 crore from Wint Wealth and Rs 3 crore in impact debt capital from Caspian The Gurugram-based company had previously raised $2 million (Rs 16 crore) in debt capital from Trifecta Capital, along with an additional $0.6 million (Rs 5 crore) from UC Inclusive Credit three months ago. The fresh funds will be used to ramp up its presence in the market and invest in the betterment of healthcare fintech especially for optimizing the operational end of hospital management, Care.fi said in a press release. Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi is a fintech company offering smart financing solutions to hospitals, doctors, and allied suppliers. It bridges the gaps in funding within the healthcare industry. The company addresses the financial needs of healthcare professionals and institutions, facilitating smoother operations and accelerated growth. According to Care.fi, it is currently working with more than 50 hospitals and has helped over 2,000 patients. It claims that its total disbursals increased by 4x, with cumulative disbursals of $48 million (Rs 400 crore) last year. Care.fi has also received an NBFC license within two years of operation. Other major players in this space are CarePay, SaveIn, and Bajaj Finserv Health.

Zomato secures Rs 8,500 Cr via QIP

EntrackrEntrackr · 8m ago
Zomato secures Rs 8,500 Cr via QIP
Medial

Zomato Limited announced on Friday that it has raised Rs 8,500 crore through a Qualified Institutions Placement (QIP) of equity shares. Last week, the foodtech firm received shareholders’ approval for the fundraise. The issuance involved 33,64,73,755 equity shares at Rs 252.62 each, including a premium of Rs 251.62 per share. This issuance price represents a 5% discount on the determined floor price of Rs 265.91 per share, the company informed in its stock exchange filings. This capital infusion is expected to bolster Zomato's financial position, facilitating business expansion and strategic initiatives, especially in the quick commerce space via Blinkit. The offering, which opened on November 25 and closed on November 28, received approval from Zomato’s Fund Raising Committee during its meeting held earlier today. Prominent mutual funds, such as ICICI Prudential and Motilal Oswal, were among the significant allottees, with the latter acquiring a total of 6.92 crore shares, accounting for 20.81% of the issue size. After the transaction, Zomato’s paid-up equity share capital has risen to Rs 917.28 crore. For the fiscal year ending in, Zomato achieved a remarkable 68.5% quarter-on-quarter growth in operating revenue, reaching Rs 4,799 crore in Q2 FY25 from Rs 2,848 crore in Q2 FY24. The company also recorded a 4.8x increase in net profit to Rs 176 crore in the September quarter. A recent report by Motilal Oswal highlights that Blinkit, owned by Zomato, dominates the quick commerce market with a 46% share. Zepto holds the second position with a 29% share, while Swiggy Instamart follows in third place with a 25% market share. Compared to the closing price of last Friday (November 22), Zomato saw a 6.8% rise to Rs 282 per share at 11:30 AM on November 29, 2024. The company’s market cap currently stands at around Rs 2,35,481 crore or $28 billion, while its closest rival, Swiggy, is trading at Rs 470 per share with a market cap of Rs 90,712 crore or $10.7 billion.

Lifechart’s Guttify secures $360K from Unichem Labs’ Family Office

EntrackrEntrackr · 3m ago
Lifechart’s Guttify secures $360K from Unichem Labs’ Family Office
Medial

Lifechart’s Guttify secures $360K from Unichem Labs’ Family Office Lifechart, a health-tech startup focused on gut wellness, has raised $360,000 in an extended seed round for its gut health brand Guttify, led by Prajay Advisors, the family office of the founders of Unichem Labs, Prakash Mody and Jayendra Shah. This $360K raise follows a $500K seed round in October 2024, backed by Expert Dojo, Agility Ventures, Sunn91 Ventures, government seed schemes, and angels like Nitish Mittersain and Ahana Gautam—bringing Lifechart’s total funding to over $1 million. Co-founded in 2022 by Mukul Shah and Mansi Sharma, Guttify is a gut health brand designed for India’s urban population (tier I and III cities), and it adopts a diagnosis-first approach. It offers DIY at-home gut testing kits and clinically validated solutions that combine modern science with herbal methods. Its first product, a pH saliva testing kit for acidity, is already live, with more kits priced as low as Rs 99 set to launch in the coming months. Guttify aims to empower every Indian with accessible, accurate, and personalized gut health solutions—grounded in science, enabled by technology, and inspired by Ayurveda. Lifechart and Guttify aspire to build a full-stack science-backed gut wellness ecosystem to address the urgent and widespread gut health crisis in India. According to market research, the Indian gut wellness market is projected at $18 billion and over 60% of the Indian population suffers from digestive issues.

Insurance Samadhan secures Rs 8.5 Cr to boost tech infrastructure

EntrackrEntrackr · 3m ago
Insurance Samadhan secures Rs 8.5 Cr to boost tech infrastructure
Medial

Insurance Samadhan, an insurance grievance redressal platform, has raised Rs 8.5 crore in a strategic funding round from a group of strategic family offices, with Innovito Ventures as the financial advisor. Since its inception, the integrated platform has raised over $4.58 million through multiple funding rounds led by investors like Equanimity Investments, 100 Unicorns, Venture Catalysts, and IIFL Finance. The fresh funds will be utilized to strengthen its technology infrastructure and expand product offerings, including its flagship “Know Your Policy” feature, Insurance Samadhan said in a press release. Co-founded in 2018 by Deepak Bhuvneshwari Uniyal, Shailesh Kumar, and Sanjay H Aggarwal, Insurance Samadhan simplifies and digitizes traditionally paper-heavy insurance processes, enabling seamless digital experiences. The platform aims to support policyholders, insurance advisors, hospitals, and insurance companies, and gradually help India increase its penetration rate. According to market research, India's insurance industry is growing at about 7% annually and the insurance penetration rate remains low at just 3%. The company claims to have resolved over 18,000 insurance complaints and helped policyholders recover claims worth Rs 160 crore. The startup’s flagship Polifyx app has also helped reduce the turnaround time for insurance grievance resolution by 55%, down from the earlier 60 days. Insurance Samadhan’s “Know Your Policy" feature which aspires to address critical issues like misselling and claim rejection. By strengthening digital capabilities, it plans to improve the reach and accessibility of insurance products.

Startup news and updates: Daily roundup (August 12, 2024)

YourStoryYourStory · 12m ago
Startup news and updates: Daily roundup (August 12, 2024)
Medial

Mumbai-based luxury men's brand, Haldèn has raised Rs 5 crore in a seed funding round led by Prajay Advisors. Infinyte.Club, an investment platform, raised $3.6 million in seed funding led by Elevation Capital. AI-driven travel tech startup Ziptrrip secured Rs 2 crore in pre-seed funding. HealthCRED, a healthcare finance platform, raised $1.2 million in a seed funding round. Real estate technology platform Truva raised $3 million in seed funding. MiClient, an AI-driven B2B sales enablement platform, secured Rs 3.9 crore in seed funding. Gupshup, a conversational experience cloud company, hired 20% more employees to meet demand. Adukale, a domestic snacks brand, received funding from NuVentures. US grocery conglomerate Hy-Vee opened an office in Bengaluru. Standard Chartered Bank named Aditya Mandloi as Head of Wealth and Retail Banking in India and South Asia. Asset management firm Pace360 launched a new PMS strategy called Tresor Smart Alpha. KL Rahul invested in AI-powered mixed-reality publishing platform Flam. Karan Johar joined the Fashion Entrepreneur Fund as investor and promoter. CARS24 launched a super app offering various car-related services. T-Hub selected 20 startups for its sustainability cohort. Former India cricket captain Sourav Ganguly joined the board of consulting firm Blue Ocean Corporation as Non-Executive Director.

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