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Healthify raises $20 Mn, aims for US expansion

EntrackrEntrackr · 8m ago
Healthify raises $20 Mn, aims for US expansion
Medial

Health and fitness platform Healthify (formerly HealthifyMe) has raised $20 million in fresh capital as part of a $45 million equity round. This round was led by Khosla Ventures and LeapFrog Investments, with new participation from Claypond Capital, the family office of Indian healthcare billionaire Dr. Ranjan Pai. In June 2023, Healthify raised $30 million in a pre-Series D round, which included $5 million in venture debt The fresh capital will fuel Healthify’s expansion into the US market and enhance its AI-driven nutrition and fitness coaching capabilities, the company said in a press release. Healthify has raised a total of $125 million in equity financing to date. Prior to this, the company secured $75 million in Series C in July 2021 from Khosla Ventures, LeapFrog Investments, Sistema Asia Fund, and Chiratae Ventures. Launched by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, Healthify uses a combination of software, wearable devices, and fitness trainers to help people reach their fitness goals. It claims to have served over 40 million users and is expanding its presence across 300 cities in India. According to Healthify, its AI capabilities are being tailored for new markets like the US, with features that accommodate local languages, food preferences, and cultural habits. In addition to its consumer app, Healthify has a B2B vertical focused on corporate wellness, with partnerships in the diagnostics, insurance, and pharmaceutical industries. On the financial front, Healthify’s Indian operations have reached operational profitability, and the company expects to be EBITDA-positive by the end of the fiscal year. While the firm has yet to file its annual report for FY24, it registered Rs 229.71 crore in revenue for FY23 with a Rs 142 crore loss.

Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris

EntrackrEntrackr · 2m ago
Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris
Medial

Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris Propelld, an education-focused lending platform, is set to secure Rs 260 crore (around $30.5 million) in its Series D round led by WestBridge Capital with the participation of Stellaris Venture Partners. Propelld’s board passed a special resolution to allot 20,732 Series D compulsory convertible preference shares (CCPS) at an issue price of Rs 1,25,408 each to raise the aforementioned sum, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Westbridge Capital will invest Rs 240 crore ($28 million) via Setu AIF Trust, Konark Trust, and MMPL Trust while Stellaris Venture Partners will contribute Rs 20 crore. The investment will be utilized to meet the company’s working capital needs and capital expenditure for business expansion, the filing added. According to Entrackr’s estimates, the company is valued at around Rs 860 crore or $101 million post-allotment. Founded in 2019 by Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray, Propelld provides education loan financing through 'Study Now, Pay Later' products and Income Sharing Agreements (ISA) via its NBFC arm. The company also offers collateral-free education financing options. Following the latest fundraise, WestBridge will hold a 46.9% stake in the company while Stellaris Venture Partners will hold a 15.69% stake. Propelld competes with other education loans-focused fintech startups like Leap Finance and Grayquest.

Bira 91 closes $50 Mn round from Kirin Holdings and Tiger Pacific

EntrackrEntrackr · 1y ago
Bira 91 closes $50 Mn round from Kirin Holdings and Tiger Pacific
Medial

Craft beer maker Bira 91 has raised $25 million via ECB (External Commercial Borrowing) from its existing investor Kirin Holdings. With this infusion, the firm has mopped up $50 million in the past three months. It raised $25 million from Tiger Pacific Capital in March. The board at Bira has passed a resolution to raise $25 million via ECB (external commercial borrowings) from Kirin Holdings in two tranches of $12.5 million each, its regulatory filing accessed from the Registrar of Companies shows. According to the filings, Bira91 has also given the option to Kirin Holdings to convert that above-raised ECB into Series D CCPS. Tiger Pacific had reportedly acquired 4% stake in Bira 91 and the company was valued at around $600 million pre-money. Entrackr’s sources also added that Bira 91 raised nearly Rs 100 crore ($12 million) via non-convertible debentures in the last four months. Bira 91 has raised around $350 million to date including its $70 million Series D round led by Japanese integrated beverages company Kirin Holdings in November 2022. According to the startup data intelligence platform TheKredible, Peak XV (formerly Sequoia Capital) was the largest external stakeholder of Bira 91 with 24.83% followed by Kirin Holdings which owned 21.25% of the company as of its last equity fundraise. Bira 91 produces a range of beer variants, including Bira White, Gold, Bira Blonde, and Boom Super Strong, among others. The company operates in more than 1,000 towns across 25 countries and brews its beer at six manufacturing units in India. While the company is yet to disclose its last fiscal numbers, Bira 91 achieved a 17% year-on-year growth in its scale during FY23 and its revenue neared Rs 850 crore. It also incurred a loss of Rs 446 crore during the fiscal year ending March 2023.

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