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Exclusive: Scimplify scoops up $7 Mn in Series A led by Omnivore

EntrackrEntrackr · 1y ago
Exclusive: Scimplify scoops up $7 Mn in Series A led by Omnivore
Medial

Scimplify, a platform for sourcing and manufacturing of specialty chemicals, has raised Rs 59 crore (approximately $7 million) in its Series A round from new and existing investors. The board at Scimplify has passed a special resolution to issue 17,514 Series A CCPS at an issue price of Rs 33,676 each to raise Rs 59 crore or $7 million, its regulatory filing with the Registrar of Companies shows. Omnivore led the round with Rs 24.7 crore while 3One4 Capital, Beenext Asia, and Bertelsmann participated with Rs 13.56 crore, Rs 5.6 crore, and Rs 14.82 crore, respectively. Entarckr was first to report about Scimplify’s Series A in June. The company has raised around $11 million to date including its $3.67 million seed round from 3one4 Capital and Beenext last year. According to the data intelligence platform TheKredible, Scimplify has been valued at around Rs 320 crore or $39 million post-allotment. Founded in 2023 by Salil Srivastava and Sachin Santhosh, Scimplify is a B2B fulfillment platform operating across the product life cycle from contract research to commercial chemical manufacturing across industries such as pharmaceutical, personal care, and agrochemical. According to the company’s website, it offers emulsifiers, plant growth stimulators, biostimulants, adjuvants, and biofertilizers, among others. The Bengaluru-based firm competes with Atomgrid, which raised $1.2 million in its seed round led by Merak Ventures in May this year. Covvalent, another key player in the space, raised $4.3 million led by Nexus Venture Partners.

Exclusive: Kunal Shah-backed Punch to raise fresh funds

EntrackrEntrackr · 5m ago
Exclusive: Kunal Shah-backed Punch to raise fresh funds
Medial

Stock broking platform Punch is raising Rs 26 crore (approximately $3 million) in its extended seed round from new and existing investors. This comes just after 7 months of its $7 million seed round. The board at Punch has passed a special resolution to issue 1,27,650 pre-Series A4 CCPS at an issue price of Rs 2,036 each to raise Rs 26 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Existing investors Stellaris Venture Partners and SIG Venture Partners will invest Rs 8.66 crore each, while new investor Four SB Ltd (Mauritius-based) will also participate with Rs 8.66 crore during the round. The company will use the proceeds for growth, expansion, and general corporate activities, as per filings. Entrackr estimates that Punch will be valued at around Rs 157 crore or $18.5 million (post-money). According to the startup data intelligence platform TheKredible, existing investors Stellaris Venture Partners and SIG Venture Partners will each hold a 15.9% stake in the company, while Four SB will own 5.5% (post-allotment). Punch is a mobile-first stock trading platform designed to make options trading seamless for both beginners and seasoned traders. It enables users to trade index options, stock options, and equities on the NSE and BSE exchanges. Punch has raised over $13 million to date across rounds including its $7 million seed round from Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners, and Innoven Capital. Its notable angel investors include Kunal Shah (Cred), Vatsal Singhal (Ultrahuman), and Nitish Mittersain (Nazara). For the fiscal year ending March 2024, Punch reported an operating revenue of Rs 7.2 crore, up from Rs 6.96 crore in FY23, while incurring a loss of Rs 1.68 crore during the last fiscal year.

Exclusive: Burger Singh scoops up Rs 47 Cr in fresh funding round

EntrackrEntrackr · 1m ago
Exclusive: Burger Singh scoops up Rs 47 Cr in fresh funding round
Medial

Exclusive: Burger Singh scoops up Rs 47 Cr in fresh funding round Burger Singh runs a hybrid model with both company-owned and franchise-led outlets, serving a range of burgers, momos, fries, beverages, and desserts. Homegrown quick service restaurant chain Burger Singh has raised Rs 47.15 crore (around $5.5 million) in a fresh round co-led by Negen Value Fund and Nine Rivers Capital. Rhodium Trust also participated alongside 19 other investors. As per regulatory filings accessed via the Registrar of Companies (RoC), the board approved a special resolution to issue 4,994 compulsory cumulative preference shares at an issue price of Rs 94,430 each to raise the funds. Negen Value Fund and Nine Rivers Capital contributed Rs 12 crore each, while Rhodium Trust invested Rs 8.5 crore. Turner Morrison and Thapar Family Trust pitched in with Rs 3.5 crore and Rs 2 crore, respectively. The round also saw participation from individual investors, including Vikas Kapur, Nomita Kapur, Sarfaraz Singh, and Rohit Khattar. The company plans to deploy the capital towards operations, capex, expansion, and general corporate purposes. As per Entrackr’s estimates, Burger Singh has been valued at around Rs 458 crore ($54 million) post-money. Queries sent to Kabir Singh (Founder of Burger Singh) didn't elicit any response till the publication of the story. The chain currently has over 175 outlets across 75 cities and aims to scale its footprint to more than 1,000 outlets by 2026. The company has yet to file its FY25 numbers. During the fiscal year ended March 2024, its revenue from operations grew 34% year-on-year to Rs 77.7 crore, up from Rs 57.8 crore in FY23. Burger Singh reported a net loss of Rs 27.91 crore during FY24. It competes with both global and local chain QSR (quick service restaurants) such as McDonald’s, Burger King, Wendy’s, Jumboking, Wat-a-Burger, Burgernama, and several others.

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