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News on Medial
Khetika raises $18M in Series B funding, eyes 10X revenue jump over three years
YourStory
·
1m ago
Medial
Clean-label food brand Khetika has secured $18 million in Series B funding led by Narotam Sekhsaria Family Office and Anicut Capital, with participation from existing investors. Founded in 2017, Khetika offers products like batters and spices, sourced from 14 Indian states. The funding will enhance its manufacturing capacity, product portfolios, and market reach. They aim for Rs 2,000 crore revenue in three years, leveraging channel expansion and international market entry.
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Visa processing firm Atlys eyes $15-18M raise from Peak XV, others
Inshorts
·
1y ago
Medial
Travel tech startup Atlys, which counts Andreessen Horowitz, Elevation Capital, and South Park Commons among its investors, is reportedly in talks with existing investor Peak XV Partners and others to raise $15-18 Mn in its Series B round. The startup is eyeing a valuation of nearly $70 Mn, Entrackr reported. The funding round will be led by Peak XV.
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Instamojo revenue jumped to Rs 16.4 Cr with minor losses in FY18
Entrackr
·
1y ago
Medial
SME-focused fintech company Instamojo has recorded 2.6X jump in revenue to Rs 16.36 crore in FY18 while losses were controlled by over 96% to Rs 11.61 lakh. As per RoC filings, the company’s expense witnessed a hike of 73% to Rs 16.47 crore. Employee benefit accounted for 42.9% of overall expenses. Three months ago, Instamojo raised about $7.75 million in its Series B funding led by Japan’s Anypay.
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What is food and beverage maker Yu planning after its Series B funding?
VCCircle
·
10m ago
Medial
Instant food and beverage brand Yu has raised Rs 55 crore (approximately $6.5 million) in its recent Series B funding round. The company plans to use the funds to expand its presence in domestic and international markets. This funding round comes three years after its Series A round. The round was led by undisclosed investors.
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Fintech Niro in talks for pre-Series B funding, eyes valuation bump
VCCircle
·
1y ago
Medial
Bengaluru-based consumer fintech startup Niro is in talks to secure pre-Series B funding at a higher valuation than before. The company, backed by Elevar Equity and GMO Ventures, is an embedded lending platform. It is currently raising funds for its pre-Series B funding round.
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D2C luggage brand uppercase raises $9 Mn led by Accel
Entrackr
·
1y ago
Medial
D2C luggage brand Uppercase (Acefour Accessories) has raised $9 million in a Series B round led by venture capital firm Accel. As per uppercase, it has raised the new round at a post money valuation of $60 million. In 2022, the company had raised $7 million in apPre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners. The funding will support business expansion, aiming to increase its customer base across India, uppercase said in a press release. Founded by Sudip Ghose, uppercase sells travel gear online and through 1,800 multi-brand stores across India. Its products are priced in the range of Rs 3,500-5,000. The Mumbai-based company aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, uppercase also competes with Assembly, Nasher Miles and EUME. While Nasher miles raised $4 million in July, EUME bagged $1.7 million in June. As per startup data intelligence platform TheKredible, uppercase reported an operating revenue of Rs 10.65 crore in FY23 with Rs 21 crore loss. The company is targeting to more than double its revenue to Rs 150 crore by FY25, up from Rs 70 crore in FY24.
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Creaegis leads Series C funding in industrial robot maker Haber
VCCircle
·
10m ago
Medial
- Pune-based industrial robotics startup Haber raises $38 million in Series C funding. - The funding round was led by Creaegis and saw participation from existing investors Accel and Beenext. - Haber will use the funds to support its expansion plans and accelerate research and development. - The company helps companies reduce operating costs and automate processes in the manufacturing segment. - This funding round comes three years after Haber raised $20 million in its Series B round.
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Peak XV-backed pet care firm Heads Up For Tails eyes Series B fundraise
VCCircle
·
7m ago
Medial
Precious Pet Services Pvt Ltd, the operator of pet care brand Heads Up For Tails, is preparing for its Series B funding round after a three-year gap. The company continues to grow and evolve under the leadership of founder Rashi Narang. This round comes as part of their strategic plan to expand and innovate in the pet care sector. Details about the intended investment and specific goals for the funding have not been disclosed yet.
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Evenflow raises bridge round, eyes public listing by 2027
Entrackr
·
10m ago
Medial
E-commerce roll-up platform Evenflow has raised an undisclosed amount in a bridge round from serial entrepreneur Shail Patel and some existing investors as part of its ongoing $5 million Series A round. The funds will be used to expand operations and grow its seven acquired homegrown brands — Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware. The company aims to increase these brands’ global presence by entering new markets. This fundraise follows recent efforts to strengthen supply chain, marketplaces, D2C, and quick commerce, with new appointments and the elevation of Shashank Ranjan to co-founder. Evenflow operates in India and the U.S., claiming 350% growth on marketplaces like Amazon, Flipkart, CRED, Zepto, and Instamart. The company has outlined a long-term plan to increase revenue by 10X and profits six-fold by 2027. However, these projections may be challenging to achieve, as many roll-up platforms face scaling difficulties. In a media statement, co-founder and CEO Utsav Agarwal shared that the firm aims to prepare for an IPO by the end of 2027. Ecommerce roll-up companies were hot in 2021 and the space also delivered two unicorns —Mensa and Globalbees in the year along with 10club which raised $40 million in one of India’s largest seed rounds. However, the euphoria subsided with the wind up of global posterboy Tharasio and tougher funding environment. As a result, funding for these firms sharply declined over the past two years, from $540 million in 2021 to $70 million in 2022, $78 million in 2023, and $39 million in the current calendar year. While some, like Mensa, secured additional debt, GlobalBees and Goat Brand Labs took over 24 months to do so. 10club shifted focus to consumer brands, and Powerhouse91 and Upscalio haven’t raised funds in over two years. Amazon aggregator Thrasio faced near bankruptcy but recently emerged from Chapter 11 and appointed Stephanie Fox as its new CEO.
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Airalo raises $60M to expand its eSIM-based global roaming 'marketplace'
TechCrunch
·
2y ago
Medial
Mobile startup Airalo raises $60 million in a Series B funding round to expand its business. Airalo provides software-based eSIM connectivity for international travelers, offering lower-cost mobile data packages. The round is led by e& Capital, with participation from Antler Elevate, Liberty Global, Rakuten Capital, and others. Airalo has experienced significant growth, with 20% revenue growth month-on-month and nearly one million monthly downloads in the past three months. Discussions with potential investors indicate a higher valuation of $800 million to $1 billion.
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AI chip startup d-Matrix raises $110 million in funding from Temasek, Microsoft, others
Economic Times
·
1y ago
Medial
Silicon Valley-based AI chip startup d-Matrix secured $110 million in funding, with Microsoft among the investors. The Series B round, led by Temasek, supports d-Matrix's chip technology, designed for efficient generative AI applications. Differentiating from Nvidia, d-Matrix focuses on AI inference processing, aiming to deliver lower latency and reduced energy consumption. Microsoft plans to evaluate the chips for its use. d-Matrix anticipates generating $70-75 million in annual revenue within two years.
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