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Almonds Ai raises Rs 16 Cr in Seed funding round

EntrackrEntrackr · 6m ago
Almonds Ai raises Rs 16 Cr in Seed funding round
Medial

url: https://entrackr.com/snippets/almonds-ai-raises-rs-16-cr-in-seed-funding-round-8720730 Content: Almonds Ai, a channel loyalty and rewards platform, has raised Rs 16 crore (nearly $1.9 million) in a seed funding round co-led by promoters of Haldiram’s and JITO Incubation and Innovation Foundation (JIIF). The round also saw participation from Venture Catalysts, Ever Grow Capital, Nine ALPS, and other investors such as Hemant Jain and OfBusiness co-founder Nitin Jain. The proceeds will be utilized to accelerate R&D initiatives, expand the team, and enhance product offerings, Almonds Ai said in a press release. Co-founded in 2020 by Abhinav Jain and Apurv Modi, Almonds Ai aims to redefine how brands engage with their distribution networks through cutting-edge AI technology, enhancing engagement, education, and rewards for retailers, dealers, and influencers. Almonds Ai states that its flagship Channelverse ecosystem and green loyalty programs aim to create an impact in AI-driven loyalty management and sustainability, enabling businesses to build deeper, data-driven relationships with their distribution networks. The Gurugram-based company claims to have 100 distribution-led organizations and a network of 6 million channel partners, including retailers, dealers, and professionals such as drivers, painters, and mechanics. Almonds Ai asserts that its AI-powered platform will play a crucial role in optimizing sales channels, improving partner engagement, and driving customer retention across sectors.

JIIF investors invest in Rs 350 Cr consumer-focused fund by Atomic Capital

EntrackrEntrackr · 2m ago
JIIF investors invest in Rs 350 Cr consumer-focused fund by Atomic Capital
Medial

Investors from the early-stage angel network JIIF have invested in a Rs 350 crore fund by Atomic Capital, a newly launched consumer-focused venture capital firm. JIIF-affiliated angel investors alone contributed Rs 26.5 crore to the fund. According to JIIF, this is the largest collective bet by JIIF’s investors in the consumer VC space, underscoring rising conviction in India’s next wave of consumption, driven by digital-first brands, regional demand, and wellness-oriented products. Commenting on the investment, Jeenendra Bhandari, Chairman of JIIF, said, “It is a proud moment to see JIIF members backing Atomic Capital’s first fund. Their investment aligns with our broader thesis of supporting category-defining, purpose-led startups. India’s consumer opportunity is massive, and Atomic’s operating model is well positioned to unlock enduring brand value.” Atomic Capital operates with an “Operating VC” approach, offering not just capital but also hands-on support in brand building, growth marketing, supply chain optimization, and leadership hiring. In FY25, JIIF’s investor base deployed over Rs 60 crore across more than 20 startups spanning fintech, healthtech, AI, logistics, and consumer. The network now supports a portfolio of over 150 companies. Mumbai-based Atomic Capital, an early-stage VC firm founded in 2024 by Apoorv Gautam, combines strategic depth with on-ground execution.

Veranda Learning promoters trim their 17% stake, Goldman Sachs and Authum step in

EntrackrEntrackr · 1d ago
Veranda Learning promoters trim their 17% stake, Goldman Sachs and Authum step in
Medial

Veranda Learning promoters trim their 17% stake, Goldman Sachs and Authum step in Edtech company Veranda Learning witnessed significant block deal activity on Tuesday, with a mix of institutional buying and promoters’ stake sales shaping the trade. Authum Investment & Infrastructure, a non-banking finance company with exposure to capital markets, emerged as the biggest buyer, picking up 58 lakh shares worth Rs 133.5 crore. Global investment bank Goldman Sachs (Singapore) also joined the buy-side, acquiring 7.6 lakh shares worth Rs 17.5 crore. On the selling side, promoters K S Ganesh, K S Suresh, and K S Aghoram offloaded 22 lakh shares each, accounting for nearly 17% of the promoters’ holding. These transactions were executed at an average price of around Rs 230 per share, aggregating to Rs 152 crore. Veranda Learning reported 17% year-on-year growth in its operating revenue to Rs 139 crore in the first quarter of FY26. Meanwhile, the company recorded a profit of Rs 6 crore in Q1 FY26 as compared to a loss of Rs 26 crore in Q1 FY25. The company’s total market capitalization stands at Rs 2,155 crore (approx $245 Mn).

JITO Shark Angels commits Rs 30 Cr to startups at JIIF Flames Summit

EntrackrEntrackr · 6m ago
JITO Shark Angels commits Rs 30 Cr to startups at JIIF Flames Summit
Medial

Four high-growth startups have secured funding in a bridge round worth Rs 30 crore at a recently held seed funding initiative by JITO Shark Angels. The JITO Shark Angels Pitch & Rise session during the JIIF Flames Summit saw Investors Madanlal Gundecha, Ecosystem Ventures founder Abhishek Sanghvi, Kiran Dantewadia, and Rajesh Jain leading the funding round. The investment was strategically allocated in the D2C consumer tech sector directed towards smart technology and sustainability. These funds aim to accelerate innovation and strengthen India's business landscape by backing ventures with significant growth potential. The JIIF Flames Summit provided a platform for discussions on investment trends, family business governance, and emerging market opportunities. Sessions covered Pre-IPO investments, stock markets, real estate, and gold, along with insights into the impact of Budget 2025 on business decisions. JITO Shark Angels supports high-potential startups across diverse sectors. Internationally, the initiative has also made its mark, with a Dubai edition witnessing a Rs 20 crore commitment from investors across logistics, space, fintech, and SaaS AI. Companies like Elixia and Astrophel Aerospace were among the beneficiaries of this funding. The JITO Incubation and Innovation Foundation (JIIF) is the innovation and entrepreneurship arm of JITO, committed to nurturing ideas and fostering businesses among its members. JIIF provides a platform for startups and established businesses to collaborate, innovate, and scale through strategic support, mentorship, and funding opportunities. It aims to expand impact across industries while promoting sustainable and community-centric growth.

Jewelbox raises $3.2 Mn in pre-Series A round

EntrackrEntrackr · 4m ago
Jewelbox raises $3.2 Mn in pre-Series A round
Medial

Lab-grown diamond brand Jewelbox has raised $3.2 million in a pre-Series A funding round led by V3 Ventures, with participation from Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and existing investor JITO Incubation & Innovation Foundation (JIIF). In March 2024, the Kolkata-based startup had raised Rs 3.7 crore in seed funding from JIIF. The proceeds will be used to grow its store network, build brand awareness, and hire across key departments. Founded in May 2022 by siblings Vidita Kochar Jain and Nipun Kochar, Jewelbox sells lab-grown diamond jewellery through both online and offline channels. The firm reported an annual revenue run rate (ARR) of Rs 38 crore for FY25, up from Rs 16 crore the previous year. Jewelbox currently runs eight stores in six cities—Delhi, Gurgaon, Bengaluru, Chennai, Kolkata, and Guwahati—and aims to expand to 30 stores by the end of 2025. In the lab-grown diamond space, Jewelbox will compete with a clutch of firms, including COLUXE, Fiona Diamonds, Limelight Lab Grown Diamonds, and Firefly Diamonds. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line. Last month, Firefly Diamonds raised $3 million in its seed round led by WestBridge Capital. Jewelbox and other new brands have asked the Central Consumer Protection Authority (CCPA) to stop the use of the term "synthetic" for lab-grown diamonds, saying it confuses with imitation stones like cubic zirconia.

Infibeam posts Rs 1,280 Cr revenue; profit decline 16%

EntrackrEntrackr · 20d ago
Infibeam posts Rs 1,280 Cr revenue; profit decline 16%
Medial

Infibeam posts Rs 1,280 Cr revenue; profit decline 16% Digital payments company Infibeam reported a 72% surge in revenue to Rs 1,280 crore for Q1 FY26, while its year-on-year profit dipped by 16%. Infibeam’s revenue from operations rose to Rs 1,280 crore in Q1 FY26, up from Rs 745 crore in Q1 FY25, according to its consolidated financial statements filed with the National Stock Exchange (NSE). Infibeam’s payment business contributed 96% of its total collections, which jumped 74% to Rs 1,226.4 crore in Q1 FY26. Its e-commerce platform business also saw a 38.5% rise, reaching Rs 53.7 crore. On the cost front, Infibeam's total expenses surged 77% to Rs 1,229.3 crore in Q1 FY26 from 693.7 crore in Q1 FY25. Payment processing remained the largest cost driver, jumping 79.5% to Rs 1,128 crore. Employee benefit expenses rose 14% to Rs 39 crore, while depreciation costs increased 8% to Rs 17.67 crore. A sharper rise in expenses outpaced the revenue growth, leading to a 16% decline in Infibeam’s net profit, which fell to Rs 58.4 crore in Q1 FY26 from Rs 69.4 crore in the same period last year. According to a separate NSE filing, Infibeam’s board has approved the transfer of its e-commerce platform infrastructure business to its subsidiary, Rediff.com, through a slump sale at Rs 800 crore. In Q1 FY26, Infibeam Avenues announced several strategic initiatives, including plans to launch a first-of-its-kind Agentic AI marketplace in Mumbai and a roadmap to set up 12 AI-focused data centers across smaller cities. The company also approved a Rs 700 crore rights issue to accelerate its AI and business expansion efforts. It is preparing to enter the UPI app space with RediffPay. It also launched Rediff TV, an AI-led media platform, and is developing fintech-focused AI solutions under Phronetic.ai. At the close of today’s trading session, Infibeam’s share price stood at Rs 15.19 per share, giving the company a market capitalization of Rs 4,247.78 crore ($500 million).

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