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WhiteHat Jr founder Karan Bajaj raises $16 Mn for new startup Complement1

EntrackrEntrackr · 2m ago
WhiteHat Jr founder Karan Bajaj raises $16 Mn for new startup Complement1
Medial

WhiteHat Jr founder Karan Bajaj raises $16 Mn for new startup Complement1 WhiteHat Jr was acquired by Byju’s for $300 million three years ago. At the time, its CEO Karan Bajaj went on to lead Byju’s Future School before leaving the company in August 2021. Karan Bajaj, the co-founder of Byju’s-owned WhiteHat Jr, has raised $16 million in seed funding for his new startup Complement1. The round was led by Owl Ventures and Blume Ventures, with participation from other undisclosed investors. Complement1 is a cancer care startup focusing on personalized lifestyle coaching in the United States. According to the company, it is emerging from stealth to launch the first tech-enabled, clinically validated lifestyle modification platform for cancer patients and high-risk individuals—delivering personalized, daily guidance and education through one-on-one dedicated CoActive Coaches. “Lifestyle change is one of the most powerful yet underused tools in cancer care,” said Karan Bajaj, CEO and co-founder of Complement 1. “Every oncologist will tell you patients need more support incorporating clinically recommended physical activity, nutrition and mind-body practices. We’ve cracked the code on daily engagement with personalized, compassionate coaching—helping patients make meaningful, lasting improvements during and beyond treatment.” With this fundraise, Complement 1 plans to scale up its coaching infrastructure and operations across the United States, advance its AI-driven personalization engine, and partner with cancer centers, health plans, and employers to bring the program to their cancer patients, high-risk individuals, and survivors. A part of this funding company will also go towards product development to enhance the digital user experience for both patients and coaches.

IVY Growth launches Rs 250 Cr Arigato Capital fund

EntrackrEntrackr · 1y ago
IVY Growth launches Rs 250 Cr Arigato Capital fund
Medial

Micro venture capital firm IVY Growth Associates has announced the launch of Arigato Capital, a SEBI-registered Category I AIF Venture Capital (VC) fund, with a target corpus of Rs 250 crore. This sector-agnostic fund is set to invest in startups across a variety of sectors, including agritech, cleantech, generative AI, fintech, consumer brands, and software-as-a-service (SaaS) companies, the fund said in a press release. Arigato Capital aims to begin raising capital in June 2024, with plans to close all commitments over the next 15 to 18 months. The Venture Capital (VC) fund targets a first close at Rs 100 crore and will focus on startups beyond the seed stage or in pre-series A stages, offering an average ticket size of $500,000. Founded by Prateek Toshniwal, Rachit Poddar, Mehul Shah, and Sharad Todi, IVY Growth Associates claims to have invested in over 100 growth-stage startups. The firm has deployed Rs 20 crore from its fund and utilized more than Rs 80 crore from syndicate funds within its network. IVY’s portfolio includes notable brands such as Rupeek, BluSmart, and Zappfresh. In addition to launching Arigato Capital, IVY Growth Associates will host the third edition of its startup summit, 21 BY 72, from June 15 to June 16 in Surat. The summit is expected to attract over 20,000 participants, including more than 200 startup founders, 200 venture capitalists, and over 500 investors.

Funding and acquisitions in Indian startup this week [5 - 10 Aug]

EntrackrEntrackr · 11m ago
Funding and acquisitions in Indian startup this week [5 - 10 Aug]
Medial

During the week, 29 Indian startups raised around $177.68 million in funding. These deals count 8 growth-stage deals and 19 early-stage deals while 2 early-stage startups kept their transaction details undisclosed. During the previous week, 32 early and growth-stage startups cumulatively raised $334 million in funding. [Growth-stage deals] Among the growth-stage deals, 8 startups raised $104.8 million in funding this week. Telehealth and wellness platform Visit Health spearheaded with its $30 million worth Series B round. Wealth and asset management company Neo, vernacular social media platform ShareChat, D2C dairy and daily essential brand Country Delight, and e-commerce solution provider ShopDeck followed with $26.5 million, $16 million, $8.45 million, and $7.85 million, in funding, respectively. [Early-stage deals] Further, 19 early-stage startups secured funding worth $9.8 million during the week. B2B agri-processing platform Agrizy led the list followed by platform for sourcing and manufacturing of specialty chemicals Scimplify, personal care e-commerce startup Kindlife, stock broking platform Punch, and extended reality (XR) startup Metadome.ai among others. As many as 2 startups did not disclose the funding amount raised are; IppoPay and FlexiBees. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru-based startups led with 11 deals followed by Delhi-NCR, Mumbai, Chennai, Pune, Udaipur, and Chandigarh. Segment-wise, Fintech and Healthtech startups shared the top spot with 5 deals each. E-commerce, Foodtech, Biotech, SaaS, and Agritech startups followed this list among others. [Series-wise deals] During the week, Series A funding deals are on top with 10 deals followed by 7 Seed, 4 Series B, 3 pre-Series A, and 3 Debt deals. Series C and Angel round deals are next on the list. [Week-on-week funding trend] On a weekly basis, startup funding slipped 46.81% to $177.68 million as compared to around $334.04 million raised during the previous week. The average funding in the last eight weeks stands at around $297.56 million with 29 deals per week. [Fund launches] Three startup-focused funds launched this week. Consumer-focused VC firm Sauce VC closed its third fund at Rs 365 crore. Simultaneously, O’Neil Capital Management India launched a new quant fund aiming for stable returns. Pantomath Capital Management also secured a significant initial close for its second fund, focusing on value investing. [Key hirings and departures] Equivalent to 11 key hirings took place this week including Sairam Krishnamurthy by Swiggy Instamart, Ramesh Padmanabhan by Core Integra, Shashank Ranjan by EvenFlow, Ramesh Gururaja by Flipkart and Gaurav Kejriwal by Smart Joules among others. While, Amazon’s head of operations in India, Manish Tiwary resigned after an over eight-year stint with the company. [Mergers and Acquisitions] As many as six merger and acquisition deals were witnessed this week. Gaming firm Nazara acquired Fusebox Games, Instawork took over Able Jobs, Nazara’s Absolute Sports acquired DeltiasGaming.com, Shobitam acquired IsadoraLife, Exicom acquired Tritium, and Apax Partners picked up 52% stakes in greytHR. [Layoffs] BeepKart, a used two-wheeler retailer, let go of over 100 employees, constituting more than 20% of its workforce. Additionally, social media platform ShareChat announced a 5% reduction in its staff as part of its performance review process. [ESOP buyback] Fintech firm Propelld is conducting an ESOP buyback worth Rs 7.05 crore, benefiting 18 employees. In addition to the buyback, the company has increased its ESOP pool and granted additional ESOPs to its workforce. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches] Flipkart’s 10 min delivery service Minutes goes live in Bengaluru Niyo expands travel services with flight booking and visa Options [Financial results this week] PB Fintech reports 7.5% dip in Q1 FY25 revenue; maintains profit Mamaearth hits all-time high profit during Q1 FY25 Fasal reports Rs 34 Cr revenue in FY24; earns 91% from fruit sales [News flash this week] UPI daily transactions cross 500 Mn mark No appraisal for Unacademy employees in 2024 Namma Yatri expands zero-commission cab service to Delhi-NCR After a muted listing, Ola Electric’s share price surged 20% Tech IPOs subscription: Unicommerce 168X, FirstCry 12X Astroyogi accuses Astrotalk of trademark infringement SaaS unicorn Postman’s valuation takes a hit: Report [Conclusion] The weekly funding again shrank down by 46.81% to $177.68 million this week. Meanwhile, three startup-focused funds launched this week namely Sauce.vc, ONeil India Quant Fund, and IIOT. Edtech giant Unacademy has announced that there will be no appraisals for its employees in 2024. The decision comes after the company failed to meet its growth targets for the year, despite overall performance being described as “above average.” CEO Gaurav Munjal emphasized the company’s financial stability and resilience in a challenging market. Ride-hailing service Namma Yatri, known for its lifetime zero-commission model, has expanded its operations to Delhi NCR. The service, now branded as ‘Yatri,’ is part of the ONDC network. This follows the successful launch of the service in Bengaluru earlier this year. Ola Electric’s shares experienced a strong rally on their debut day despite a flat opening. The stock price surged nearly 20%, reaching a high of Rs 91.20, from its initial listing price of Rs 76. This positive performance comes after the company’s IPO was oversubscribed 4.27 times. Meanwhile, FirstCry, a kids-focused omnichannel brand, saw a 12.22X oversubscription led by qualified institutional buyers (QIBs). Meanwhile, enterprise tech startup Unicommerce witnessed an overwhelming response of 168X overall subscription rate from investors Astroyogi has filed a lawsuit against its competitor, Astrotalk, alleging unauthorized use of the ‘Astroyogi’ trademark. The company claims that Astrotalk has used the trademark name within its horoscope categories, leading to potential confusion among customers. Astroyogi has emphasized its commitment to protecting its brand and intellectual property rights. As per a media report, SaaS platform Postman has seen a significant decline in its valuation, with recent secondary deals happening at a 30-40% discount compared to its peak valuation of $5.6 billion. This sharp drop is attributed to the overall decline in valuations for SaaS companies. Angel and early-stage investors have partially cashed out their stakes in the Bengaluru-based API development platform.

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