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BizDateUp launches Rs 1,000 Cr Pulse Fund I

EntrackrEntrackr · 27d ago
BizDateUp launches Rs 1,000 Cr Pulse Fund I
Medial

BizDateUp has launched Pulse Fund I, a Rs 1,000 crore Category II Alternative Investment Fund (AIF). The fund includes a Rs 500 crore base and an additional Rs 500 crore green-shoe option. According to the fund, it will invest 50% in high-growth startups, 30% in profitable SMEs, and 20% in select real estate projects. The fund is structured as a 10-year close-ended vehicle, extendable by 2 years. It will focus on sectors such as AI, SaaS, fintech, healthtech, deeptech, defense, aerospace, gaming, EV mobility, green energy, and regtech. A special focus will be given to opportunities in tier-II and tier-III cities. The fund also promises financial, legal, and compliance checks, overseen by an NISM-certified fund manager. Founded by Jeet Chandan and Meet Jain, BizDateUp is an ecosystem enabler for startups offering comprehensive support services to visionary entrepreneurs to the forefront of their industry. BizDateUp empowers startups to challenge conventions, pioneer new solutions, and drive meaningful change in their respective fields. It has funded over 25 startups, raised a $10 million fund, engaged 1,000 angel investors, and delivered an average return of 3.5x to its backers in FY24. BizDateUp plans to expand globally by launching parallel funds in Singapore, the USA, and Dubai within 24 months, targeting over $1 billion in international capital for India’s innovation ecosystem. Earlier in May last year, BizDateUp Technologies had acquired a 20% stake in Duro Green, an environmental impact startup providing wet waste management services.

Elanpro acquires 41% stake in Wendor

EntrackrEntrackr · 8m ago
Elanpro acquires 41% stake in Wendor
Medial

Elanpro acquires 41% stake in Wendor The deal aims to expand market reach, enhance sales and service support, optimize logistics and finance functions, and strengthen marketing infrastructure. Commercial refrigeration company Elanpro has acquired a 41% stake in smart vending startup Wendor, aligning with its strategy to lead the retail industry's shift towards AI and IoT-driven solutions. The partnership will enable Wendor to leverage Elanpro’s network and expertise in food and beverage retail, accelerating its growth in the cashless vending market. Elanpro will support Wendor in establishing manufacturing capabilities and navigating regulatory changes related to BIS. The deal aims to expand market reach, enhance sales and service support, optimize logistics and finance functions, and strengthen marketing infrastructure. Founded in 2017 by Ayush Pahwa, Lakshit Anand, Chaitanya Marwaha, and Harsh Gautam, Wendor offers smart vending machines powered by a proprietary SaaS platform for dispensing snacks, beverages, and other items. The startup uses AI and IoT for real-time monitoring and stock management. It has sold 1,200 kiosks across 60 cities and plans to sell 15,000 machines in the next five years. The two companies estimate the partnership will help generate Rs 20 crore in annual revenue by FY26. Elanpro, established in 2009, provides refrigeration products for the hospitality, retail, and pharma sectors. The company recorded Rs 276 crore in revenue in 2024 and aims to invest in innovative startups to strengthen its market position.

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