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Eight Roads Ventures, F-Prime investing $14 mn in Laurus Labs unit

VCCircleVCCircle · 1y ago
Eight Roads Ventures, F-Prime investing $14 mn in Laurus Labs unit
Medial

Indian pharmaceutical company Laurus Labs is securing equity funding of INR 120 crore ($14.2 million) from global venture capital firm Eight Roads Ventures and F-Prime Capital for its biotech unit, Laurus Bio. Laurus Labs will also invest an additional INR 40 crore in the unit. The investment will support Laurus Bio's expansion of fermentation-based manufacturing capabilities and drive growth opportunities in manufacturing and R&D infrastructure. Following the transaction, Laurus Labs, Eight Roads Ventures, and the promoters of Laurus Bio will hold stakes of 75%, 14%, and 9%, respectively. Laurus Labs entered the biotech sector in 2020 through acquiring a majority stake in Richcore Lifesciences, later renamed Laurus Bio.

Exclusive: Doceree raises $13.6 Mn from Creaegis

EntrackrEntrackr · 1y ago
Exclusive: Doceree raises $13.6 Mn from Creaegis
Medial

Healthcare startup Doceree has raised Rs 113.5 crore (approximately $13.6 million) from Indian private equity firm Creaegis. The board at Doceree has passed a special resolution to issue 10 equity and 2,4300 CCPS at an issue price of Rs 4,672 per share to raise Rs 113.5 crore, its regulatory filing accessed from the Registrar of Companies shows. Importantly, Doceree has received its investments in its local India entity for the first time. Prior to this round, the company had used its holding entity in the US to receive all fundings. Doceree has raised over $50 million to date including $35 million in its Series B round led by Creaegis. Previously, it raised $11 million in a Series A round led by Eight Road Ventures in 2022. Four-year-old Doceree aims to empower pharmaceutical and life-sciences companies and healthcare media agencies with solutions that reach HCPs (healthcare professionals) on their networks to achieve better patient health outcomes. In May last year, Doceree collaborated with Hello Health Group to foray into eight Southeast Asian countries including Vietnam, Indonesia, Malaysia, Cambodia, Myanmar, Singapore, Philippines and Taiwan. As per startup data intelligence platform TheKredible, Doceree registered 60% surge in its operating revenue to Rs 26.6 crore in FY23 from Rs 16.6 crore in FY22. During the period, its losses increase to only Rs 1.53 crore from Rs 38 lakh. Creaegis closed its maiden fund at about $426 million (Rs 3,500 crore) last year. Its portfolio includes Medikabazaar, Zopper, and Kale Logistics among others. Creaegis also has made its major investments in Third Wave Coffee and Zopper.

Exclusive: Exponent Energy raising $20 Mn in an extended Series B

EntrackrEntrackr · 19h ago
Exclusive: Exponent Energy raising $20 Mn in an extended Series B
Medial

Exclusive: Exponent Energy raising $20 Mn in an extended Series B Exponent Energy is set to raise Rs 182 crore ($20 million) in an extended Series B round co-led by 360 One and TDK Ventures. The round will also see participation from existing investors, including YourNest, Advantedge Technology, Eight Roads Ventures, and Lightspeed India, among others. This will be the first major funding for the company in over two years since it last raised $26.4 million in Series B round in December 2023. The board at Exponent Energy has passed a resolution to approve the issue of 85,135 Series B2 CCPS across two separate filings at an issue price of Rs 21,430 to raise the above-mentioned amount, according to its filing with the Registrar of Companies (RoC). 360 One will lead the round with an investment of Rs 45 crore, followed by TDK Ventures and YourNest Venture Capital, contributing Rs 44.50 crore and Rs 37.82 crore, respectively. Other participants include Advantedge Technology (Rs 19 crore), Eight Roads Ventures (Rs 15.58 crore), 3One4 Capital (Rs 8.9 crore), and Lightspeed India (Rs 6.67 crore), along with contributions from Rohati Private Strategies, Indigo Circle Advisors, and Vivek Kamlesh Doulatani. Exponent Energy has also approved an increase in its ESOP pool by 11,550 options worth around Rs 24.75 crore, taking the total to 62,570 options, along with a 4,000 SAR pool. The combined ESOP and SAR pool is valued at Rs 142.6 crore. Led by Arun Vinayak and Sanjay Byalal, Exponent Energy builds rapid-charging solutions for EVs, enabling full charging in 15 minutes. It partners with OEMs to integrate its e-pack and develops a network of e-pumps to support efficient charging for logistics operators. Prior to this round, Exponent Energy has raised over $44 million to date including its $13 million round raised in August 2022. The Eight Roads Ventures-backed company’s revenue surged over 80% to Rs 30.2 crore in the fiscal year ended March 2025 from Rs 16.4 crore in FY24. During the same period, it narrowed its losses by 66% to Rs 65 crore from Rs 192 crore in FY24. Exponent Energy competes with other battery solution providers in the EV ecosystem such as Lohum, which is in talks to raise a Rs 1,000 crore pre-IPO round, and Battery Smart, which recently kicked off its pre-Series C round with Rs 66 crore in funding. Other players in the space include Nexus Battery, Chargeup, and Statiq among others.

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