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Legal tech startup Lawyered raises Rs 8.5 Cr in all-Titans deal on IdeaBaaz

EntrackrEntrackr · 6d ago
Legal tech startup Lawyered raises Rs 8.5 Cr in all-Titans deal on IdeaBaaz
Medial

Legal-tech startup Lawyered has raised Rs 8.5 crore on the business reality show IdeaBaaz at a Rs 120 crore pre-money valuation, marking the largest funding ever announced on Indian television. The investment round brought together prominent names including Pawan Jaggi, VC investor Sandesh Sharda, The Sleep Company co-founder Priyanka Salot, and Arjun Vaidya. The proceeds will be used to drive product innovation, expand its technology infrastructure, deepen nationwide distribution, and strengthen brand visibility, Lawyered said in a press release. Founded in 2018 by Himanshu Gupta, Lawyered is a legal-tech startup that provides accessible, tech-driven legal assistance. It initially focused on the mobility sector covering vehicles and logistics with platforms such as LOTS247 for roadside assistance and ChallanPay for challan resolution. The company leverages a large lawyer network to offer proactive legal support, documentation, and compliance services across India. It aims to make legal services proactive and integrated into daily life through its AI-driven platform for individuals, businesses, and startups. Lawyered claims it has helped over 600,000 vehicles and 800 businesses remain compliant. The platform is backed by a network of more than 70,000 lawyers, has resolved over 200,000 legal matters, and saved customers more than Rs 50 crore in penalties and downtime. According to the Gurugram-based startup, it aims to build the rails of legal infrastructure for the future, with plans to expand into finance, real estate, healthcare, and other sectors. The platform aspires to make law proactive, preventive, and accessible. The company will focus on expanding India’s first roadside legal assistance service, LOTS247, and its traffic challan discovery and resolution product, ChallanPay, both of which have seen adoption among vehicle owners, logistics and transport operators, gig workers, and small businesses.

91Trucks begins Series A round with 5.5X valuation surge

EntrackrEntrackr · 7m ago
91Trucks begins Series A round with 5.5X valuation surge
Medial

91Trucks, an online platform specializing in commercial vehicle listings, raised Rs 42.9 crore ($5 million) in its Series A round led by Arkam Ventures with the participation from Titan Capital and others. 91Trucks, an online platform specializing in commercial vehicle listings, raised Rs 42.9 crore ($5 million) in its Series A round led by Arkam Ventures through associate (Unitary Fund), with the participation from Titan Capital, Sparrow Capital, and Atrium Angels. 91Truck’s board has issued 2,247 Series A CCPS at an issue price of Rs 1,88,578 each to raise the aforementioned amount, its regulatory filings accessed from the Registrar of Companies (RoC) show. Arkam Ventures led the round with Rs 25.2 crore (approximately $3 million) followed by Titan Capital, which injected Rs 15 crore. Sparrow Capital and Atrium Angels also joined the round with Rs 1.73 crore and Rs 1 crore investment, respectively. The proceeds from this round will be utilized for capital expenditures, marketing, and general corporate purposes, the filings said. As per Entrackr’s estimates, the Gurugram-based company’s valuation has soared 5.5X to Rs 280 crore or $33 million (post-allotment of Series A round), compared to Rs 50.47 crore at the time of its seed round. Launched in 2022, 91Trucks offers information on new and used trucks, buses, and auto rickshaws—including prices, specs, comparisons, and dealer contacts. As per its website, it also runs five physical stores in Delhi-NCR and Meerut for affordable used vehicle purchases. Startup data platform TheKredible shows Arkam Ventures as the largest external shareholder in the company with a 9% stake, followed by Titan Capital (5.35%) and Sparrow Capital (4.94%). For the fiscal year ending in March 2024, 91Trucks reported Rs 10.11 crore revenue, compared to Rs 3.95 crore in FY23. Looking at the bottom line, its losses stood at less than Rs 1 crore. It’s yet to disclose FY25 numbers.

CaratLane crosses Rs 3,000 Cr revenue in FY24; remains profitable

EntrackrEntrackr · 1y ago
CaratLane crosses Rs 3,000 Cr revenue in FY24; remains profitable
Medial

Titan-owned CaratLane has continued its growth trajectory as its revenue grew 42% in the fiscal year ending March 2024. The company’s profit dipped marginally due to aggressive expansion, though. CaratLane’s revenue from operations grew to Rs 3,081 crore in FY24 from Rs 2,169 crore in FY23, its consolidated annual statements sourced from the Registrar of Companies (RoC) show. CaratLane sells gold, silver, and diamond jewelry for both men and women through its website and network of offline stores. As per its website, the firm operates over 262 stores across 105 cities. The sale of the jewelry was the sole source of revenue for CaratLane in FY24. The company also earned Rs 25 crore from other financial activities, taking the overall revenue to Rs 3,106 crore in the said fiscal. For the jewelry maker, the cost of procurement of material/stones was naturally the largest cost center forming 69% of the total expenditure. To the tune of scale, this cost grew 48% to Rs 2077 crore in FY24. Employee benefits, advertisement cum promotion, legal, technical, and transportation are some major overheads that pushed the total cost to Rs 2,992 crore in FY24 from Rs 2,069 crore in FY23. See TheKredible for the detailed cost breakup. Despite an impressive scale, the company reported a flat profit which stood at Rs 79 crore in FY24 as compared to Rs 82 crore in FY23. The expansion of stores appears to be the reason for the marginal dip in PAT. Its ROCE and EBITDA margin stood at 34.88% and 8.98%, respectively. On a unit level, it spent Rs 0.97 to earn a rupee in FY24. FY23-FY24 FY23 FY24 EBITDA Margin 9.64% 8.98% Expense/₹ of Op Revenue ₹0.95 ₹0.97 ROCE 38.19% 34.88% CaratLane also disclosed its financials for the first quarter of FY25. The company’s total income surged 18% year-on-year to Rs 754 crore in Q1 FY25 while its EBITDA saw an 8% increase to Rs 38 crore during the same period. In February, Tata Group firm Titan Company acquired the remaining 0.36% stake of CaratLane for Rs 60.08 crore. Following the deal, CaratLane transitioned into a wholly-owned subsidiary of Titan Company. CaratLane directly competes with Bluestone which recorded Rs 788 crore in operating revenue for FY23 and reportedly raised Rs 900 crore ($107 million) in pre IPO round. Among the venture funded startups, Melorra and Giva are other notable competitors.

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