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ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week

Economic TimesEconomic Times · 1y ago
ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week
Medial

- Startups raised $77 million between September 28 and October 4, a 54.5% decrease from the same period last year. - This week, startups secured funding through 14 rounds, compared to 44 rounds in the year-ago period. - MStack, a specialty chemicals startup, raised $40 million in a funding round led by Lightspeed Venture Partners and Alpha Wave Global. - Basic Home Loan, a fintech startup, raised $10.6 million in a series B funding round led by Bertelsmann India Investments. - Troo Good, a snack brand, raised $8.6 million in a funding round led by Oaks Asset Management. - Str8bat, a sports technology startup, raised $3.5 million in a series A funding round led by Exfinity Venture Partners.

Home Essentials raises Rs 70 Cr in pre-Series B led by 360 ONE Asset

EntrackrEntrackr · 25d ago
Home Essentials raises Rs 70 Cr in pre-Series B led by 360 ONE Asset
Medial

Snippets Home Essentials raises Rs 70 Cr in pre-Series B led by 360 ONE Asset Home Essentials, a D2C brand for home and kitchen essentials, has raised Rs 70 crore in a pre-Series B funding round led by 360 ONE Asset, with participation from existing investor India Quotient. The Gwalior-based company had previously secured $2.2 million in a seed funding round from India Quotient and others. The proceeds will be used to expand its omnichannel presence and deepen its product portfolio across kitchen and home improvement categories, Home Essentials said in a press release. Co-founded in 2024 by brothers Tanishq and Divyam Jain, Home Essentials is a digital-first home and kitchen brand offering a curated range of more than 1,000 products across storage, cookware, furniture, and decor. The brand positions itself around “smart living,” combining high utility with modern aesthetics at accessible price points. Key products include kitchen storage containers, cookware, home organisation solutions, bathroom accessories, and decor. The company plans to strengthen the home and kitchen category through investments in offline expansion, supply chain capabilities, and product innovation. It aims to scale revenue to Rs 500 crore over the next three years and reach 5 million Indian households. Since inception, the company claims to have served over one million customers and maintained strong unit economics with a focus on profitability. It is also expanding its offline presence and plans to operate 20 stores by the end of this year across the country. Home Essentials may compete directly or indirectly with other brands in the segment such as Home Centre, Nestesia, and IKEA, among others.

Exclusive: Snack brand Troo Good raises Rs 72 Cr in new round

EntrackrEntrackr · 1y ago
Exclusive: Snack brand Troo Good raises Rs 72 Cr in new round
Medial

Troo Good, a millet-based snack brand, has raised Rs 72 crore (approximately $8.6 million) from Oaks Asset Management, with participation from Puro Wellness and V Ocean Investments. The board at Troo Good has passed a resolution to issue 10,176 equity shares to raise the aforementioned sum, its regulatory filing accessed by Entrackr from Registrar of Companies shows. Existing investor Oaks Asset Management contributed Rs 37 crore, while V Ocean Investments and Puro Wellness invested Rs 10 crore and Rs 25 crore, respectively. The filing also mentioned that the company will use these funds to meet its working capital requirements. The company has raised around Rs 132 crore to date including its Rs 55 crore in a Series A led Oaks Management in November 2021. According to the startup data intelligence platform TheKredible, Troo Good will be valued at Rs 322 crore or $38 million post-allotment. Following the recent funding, Oaks Asset Management will hold a significant 28.89% of the capital, while Puro Wellness and V Ocean Investments will command stakes of 7.75% and 14.28%, respectively. Founded in 2018 by Raju Bhupati, Troo Good is a Hyderabad-based company that sells millet-based snacks, including chikkis, protein bars, and nutri bars. The company claims to sell over 2 million millet chikkis and other millet snacks every day. While the firm has yet to report FY24 numbers, Troo Good recorded a modest 7% growth in revenue, rising to Rs 52.7 crore in the fiscal year ending March 2023. However, effective cost management enabled Troo Good to achieve profitability during the same period. It competes with Slurrp Farm, which raised $7.2 million in January this year, as reported exclusively by Entrackr.

Weaver Services raises Rs 1,450 Cr led by Premji Invest and Lightspeed

EntrackrEntrackr · 3d ago
Weaver Services raises Rs 1,450 Cr led by Premji Invest and Lightspeed
Medial

Weaver Services raises Rs 1,450 Cr led by Premji Invest and Lightspeed Housing finance platform Weaver Services has completed a two-tranche fundraise of Rs 1,450 crore ($156 million). The capital will be used to acquire a 75.01% controlling stake in Centrum Housing Finance (CHFL), following all required regulatory and shareholder approvals. Premji Invest, an early backer, co-led the latest Rs 950 crore (over $100 million) round along with Lightspeed Venture Partners, which is making its first investment in this segment. Gaja Capital and a group of senior financial services professionals also participated in the round. Weaver has also entered into definitive agreements with Morgan Stanley to acquire its remaining 24.99% stake in CHFL, subject to approvals. Once completed, Weaver will become the sole institutional owner of CHFL. CHFL will be combined with People Home Finance, acquired in August 2025, creating a platform with assets under management exceeding Rs 2,000 crore and a network of 140 branches across India. The two entities are expected to be merged into a single unified institution. The combined entity will offer home loans, self construction loans, home improvement loans, and loans against property, with a focus on expanding access to credit for women. Founded in April 2024 by Satrajit Siva Bhattacharya and Anil Kothuri, Mumbai-based Weaver Services is a fintech enabled housing finance company focused on providing affordable home loans to underserved segments, especially self-employed individuals in tier II and tier III cities.

The Artment raises Rs 10 Cr in pre-Series A round led by IPV

EntrackrEntrackr · 4m ago
The Artment raises Rs 10 Cr in pre-Series A round led by IPV
Medial

Snippets The Artment raises Rs 10 Cr in pre-Series A round led by IPV Home décor and lifestyle brand The Artment has raised Rs 10 crore in pre-Series A funding round led by Inflection Point Ventures. The round also witnessed participation from Siyaram Family Office, ESV, Capitar Ventures and others. IPV made its investment in this round through IPV International as well, utilizing the GIFT City route. The Gurugram-based company had previously raised $527K in a seed funding round from Harshit Poddar and others. The proceeds will be deployed over category expansion, investment in ‘Art Lab’ – a tech-platform to crunch data, launch products and towards channel expansion, The Artment said in a press release. Co-founded in 2019 by Aditya Agarwal and Aanchal Agarwal, The Artment offers a wide range of artistic home furnishings, including dining, lighting, and wall art, designed with various art movements in mind. The brand maintains a strong online presence through its website and major e-commerce platforms, and has expanded into offline luxury retail through a partnership with Taj Hotels. “At Artment, we invested early in building a strong data analytics infrastructure called Art Lab, which powers our ability to launch the right assortment efficiently and stay close to evolving consumer preferences,” said Aditya Agarwal, founder & CEO, The Artment. As per a market research, India’s home & living market, currently valued at $3.7 billion, is growing at a 15% CAGR, with 12% of sales occurring online. The Artment claims that it is EBITDA positive and is aiming to reach 100 crore ARR in the next six months. The brand has a repeat customer rate of 20%, showing trust and steady demand from the existing users. The Artment is backed by a deep supply chain network present in most key art and manufacturing clusters across India such as Moradabad, Khurja, Firozabad, and Jodhpur.

Parkobot raises Rs 2.09 Cr in seed round led by IPV

EntrackrEntrackr · 8m ago
Parkobot raises Rs 2.09 Cr in seed round led by IPV
Medial

Snippets Parkobot raises Rs 2.09 Cr in seed round led by IPV IoT-based parking startup Parkobot has raised Rs 2.09 crore (around $243K) in a seed round led by Inflection Point Ventures (IPV), with participation from high-net-worth individuals. The funding will be used to expand infrastructure, enter new markets, enhance backend operations, and diversify its product portfolio. Founded by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee, Parkobot is currently in stealth mode as it lays the groundwork for scale. It offers a tech-enabled solution that allows users to monetize their private parking spaces through an IoT-powered smart parking space barrier integrated with the Parkobot mobile app. It operates as a real-time, on-demand platform by enabling hourly rentals of unused spots. The platform currently manages over 20,000 bookings each month and is built on a proprietary tech stack that includes scalable IoT devices and an in-house Parking Management System (PMS). It supports automated, pre-booked parking experiences with minimal manual intervention. The startup has already deployed its smart barriers at key high-traffic locations and aims to reduce urban congestion by optimizing underutilized parking spaces.

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