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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.

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.

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

EntrackrEntrackr · 12d 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 · 4m 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.

Troo Good raises $9 Mn led by Puro Wellness

EntrackrEntrackr · 1y ago
Troo Good raises $9 Mn led by Puro Wellness
Medial

Troo Good, a millet-based snack brand, has raised $9 million in a new round led by Puro Wellness. Existing investors Oaks Asset Management and V Ocean Investments have also participated. Entrackr had exclusively reported about the funding earlier this month. The company has raised around Rs 132 crore (around $15.7 million) 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. The proceeds will be used to support the company’s efforts in expanding infrastructure, enhancing distribution capabilities, and driving product innovation. 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.

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