🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Wipro Enterprises set to back D2C food brand Anveshan

EntrackrEntrackr · 3m ago
Wipro Enterprises set to back D2C food brand Anveshan
Medial

D2C healthy food brand Anveshan is raising Rs 29.86 crore (approximately $3.5 million) in its Series A round, led by Wipro Enterprises, with participation from existing investors DSG Consumer Partners, Titan Capital, boAt co-founders Aman Gupta and Sameer Mehta, and AngelList. According to its regulatory filings accessed from the Registrar of Companies (RoC), Anveshan's board has passed a special resolution to issue 1,178 Series A CCPS and 10 equity shares at an issue price of Rs 2,51,367 each to raise the aforementioned amount. The filings further state that the company plans to utilize the fresh capital to strengthen its long-term financial resources. According to Entrackr’s estimates, the D2C brand’s valuation is set to surge 2.7X to R 430 crore (approximately $51 million), compared to $19 million in its previous funding round. Founded in 2020 by Aayushi Khandelwal, Akhil Kansal and Kuldeep Parewa, Anveshan provides minimally processed food products prepared in rural areas. It creates food micro-entrepreneurs in villages across India who make these food products using traditional practices. It ensures the quality of the food product for the customers, along with social and economic upliftment of the Indian farmers. The company’s current product portfolio includes A2 cow ghee, wood-pressed edible oils, raw honey, healthy sweets, beverage mixes, and a variety of other natural food products. Anveshan has raised approximately $4.5 million to date, including $2 million secured in its pre-Series A round in September 2022, led by DSG Consumer Partners. According to TheKredible, DSG Consumer Partners will be the largest external shareholder in the company with a 16.59% stake, while new investor Wipro Enterprises will hold a 3.49% stake. In the fiscal year ended March 2024, Anveshan reported an 85% year-on-year increase in operating revenue to Rs 58 crore, up from Rs 31.3 crore in FY23, while narrowing its losses by 24% to Rs 5.7 crore. Anveshan competes with the new age organic health food brands like Vedic, Auric, Kapiva, Two Brothers Organic Farms, Rosier Foods and others. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Wipro launches 250Cr Fund

Financial ExpressFinancial Express · 1y ago
Wipro launches 250Cr Fund
Medial

Wipro Consumer Care-Ventures, the startup investment arm of Wipro's consumer division, has launched its second fund with a corpus of Rs 250 crore. The fund will concentrate on investing in consumer startups in India and Southeast Asia, particularly those in personal care, skin care, home care, wellness, food, fragrances, and BPC. With a focus on e-commerce-driven companies from Pre-Series A onwards, Wipro Consumer Care-Ventures aims for a minority stake approach (up to 25%) and will continue supporting and nurturing startups as needed. The first fund, launched four years ago with a Rs 200 crore corpus, has shown a multiple on invested capital exceeding 2.2x, with successful exits and high returns. Despite current headwinds in the investment landscape, the firm sees a need for startups to prioritize stability, scalability, and a clear path to profitability.

Antithesis raises Rs 5 Cr in pre-seed round co-led by Rukam and V3 Ventures

EntrackrEntrackr · 4m ago
Antithesis raises Rs 5 Cr in pre-seed round co-led by Rukam and V3 Ventures
Medial

Antithesis, a beauty and personal care brand, has raised Rs 5 crore (around $582K) in its pre-seed round co-led by Rukam Capital and V3 Ventures. The proceeds will be used in growth plans as a digital-first beauty company, product innovation, and market and distribution channel expansion while also strengthening its brand presence in the personal care market. Founded by Aparna Saxena, Antithesis treats beauty and personal care products like technology products, allowing for continuous innovation and feature expansion based on consumer feedback and emerging trends. Rukam Capital, with a track record of backing high-growth consumer brands, has previously invested in brands like Beco, Sleepy Owl, Yoho, GO Desi, upliance.ai, and Indus Valley, amongst others. V3 Ventures is a founder-led early-stage fund backed by the Verlinvest group that invests in disruptive consumer companies across the globe, including Kuku FM, Go Zero, Dil Foods, Ugaoo, and Deconstruct.

Download the medial app to read full posts, comements and news.