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MagTapp specialising in document reading application raises Rs 1 crore led by angels

IndianStartupNewsIndianStartupNews · 1y ago
MagTapp specialising in document reading application raises Rs 1 crore led by angels
Medial

Mumbai-based startup MagTapp Technologies has recently secured Rs 1 crore in a bridge funding round led by existing angel investors and other backers. Established in 2019 by Satyapal Chandra, Rohan Singh, and Abhishek Singh, MagTapp specializes in applications for browsing images and reading documents. The company's focus is on helping users comprehend content through visual cues, allowing them to tap on complex words to instantly access visual explanations instead of resorting to dictionaries or online searches. This funding will support the advancement of an AI-driven adtech system, building on the startup's existing visual dictionary, web browser, and document reader. The company has collaborations with media outlets like NewX Group.

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goSTOPS bags Rs 35 Cr in Series A round led by Blume Ventures

EntrackrEntrackr · 5m ago
goSTOPS bags Rs 35 Cr in Series A round led by Blume Ventures
Medial

goSTOPS bags Rs 35 Cr in Series A round led by Blume Ventures Youth travel hostel brand goSTOPS has raised Rs 35 crore ($4.2 million) in its Series A round led by Blume Ventures and co-led by 1Crowd. Mumbai Angels, Chennai Angels, Indian Angel Network, Lead Angels, and Yuj Ventures also participated in the round. Earlier in December 2021, goSTOPS had raised $1 million in a bridge round funded by existing investors including The Chennai Angels, Mumbai Angels, and Yuj Ventures. The proceeds will be used to strengthen operations, enhance technology, and elevate the social and experiential aspects of its existing properties. The company is also finalising debt partnerships to expand its war chest for the brand's expansion. Founded by Pallavi Agarwal and Pankaj Parwanda, goSTOPS offers vibrant, social, and design-led spaces for the new generation. The Delhi-based firm plans to expand its capacity from 2,500 to 10,000 beds across 100 locations in the next 24 months, achieving 4X growth. According to market research, 70% of young travellers now prefer hostels over traditional hotels, underscoring the growing demand for the category. goSTOPS competes with The Hosteller, Wudstay, and Backpackers Panda, among others.

91Trucks begins Series A round with 5.5X valuation surge

EntrackrEntrackr · 3m 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.

Holiday Tribe raises Rs 25 Cr in pre-Series A round

EntrackrEntrackr · 13d ago
Holiday Tribe raises Rs 25 Cr in pre-Series A round
Medial

Holiday Tribe, a travel-tech company specialising in leisure holidays, has raised Rs 25 crore (around $2.85 million) in its pre-Series A round led by existing investors Powerhouse Ventures and GSF, along with other angel investors. The funding includes both equity and debt. This comes after its seed round of Rs 5.4 crore in September 2024. Since then, the firm claims to have grown more than three times. The new funds will be used to expand its AI infrastructure, strengthen supplier networks, and improve its mobile and desktop platforms. It plans to enhance real-time personalisation, itinerary optimisation, and customer support. It will also grow its network of hotels and activities to offer travellers more customised options. Founded by Anshu Sharma and Chirag Goyal, Holiday Tribe has curated holidays to more than 30 global destinations. Its supply network covers over 100,000 hotels and 1 million activities worldwide. It has also partnered with tourism boards in countries like Abu Dhabi, Mauritius, Dubai, Switzerland, and Singapore. The startup aims to reach Rs 500 crore in annualised GMV within the next 18–24 months. It focuses on delivering personalised, easy holiday experiences for Indian travellers.

Legaltech startup LegalKart raises Rs 6.5 Cr in fresh round

EntrackrEntrackr · 9m ago
Legaltech startup LegalKart raises Rs 6.5 Cr in fresh round
Medial

LegalKart, a legal consultation platform, raised Rs 6.5 crore in its latest funding round from IIM Udaipur Incubation Centre. Aevitas Capital, Shift Alt Cap, and others have also participated. Earlier in January 2022, the Gurugram-based startup had raised Rs 4 crore in its pre-Series A round led by Mumbai Angels and others. The proceeds will be infused to ramp up company’s growth and drive the development of its AI-enabled legal technology solutions. Founded in 2019 by Arvind Singhatiya, LegalKart provides legal services with AI-driven documentation, consultations, and tailored digital solutions. The platform allows users to connect with legal professionals and lawyers in all Indian languages through audio and video calls, ensuring greater accessibility. LegalKart goes beyond consultations, offering services like property document verification, vehicle challan payments, and convenient review and drafting of legal documents. In the last 8 months, LegalKart claims to have witnessed a 453% jump in its business topline. The newly infused funds will be strategically utilized to fuel this exponential growth, introduce new AI-driven products, and expand LegalKart’s presence in India’s tier II and tier III cities.

Regional OTT app Stage raises $12.5 Mn in Series B

EntrackrEntrackr · 5m ago
Regional OTT app Stage raises $12.5 Mn in Series B
Medial

Regional OTT app Stage raises $12.5 Mn in Series B Regional language-focused over-the-top (OTT) platform Stage has raised $12.5 million in its Series B round led by Good Water and Blume Ventures. The round also included $2.5 million worth of secondaries for some angel investors such as Harsh Shah (co-founder of Fynd), Aayush Phumbra (founder Chegg). Physis Capital, Mumbai Angels, The Chennai Angels, Venture Catalysts, IPV and other existing investors also participated. Launched in November 2019 by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal, Stage serves as a hyper-localized OTT platform, offering trending, entertaining, and informative material in various languages and dialects, including Haryanvi and Rajasthani. The firm claims to have 20 million users and over 4.4 million paying subscribers. For the fiscal year ending in March 2024 (FY24), Stage reported a six-fold jump in its revenue to Rs 17.9 crore, while it managed to reduce its losses by 4% to Rs 22.1 crore. According to the company, its current ARR stands at Rs 180 crore. In the regional OTT players, it has competitors like aha video, Chaupal, Planet Marathi, and OM TV.

DOBRA raises Rs 1.5 Cr in seed round from D2C Insider Super Angels Fund

EntrackrEntrackr · 7d ago
DOBRA raises Rs 1.5 Cr in seed round from D2C Insider Super Angels Fund
Medial

DOBRA raises Rs 1.5 Cr in seed round from D2C Insider Super Angels Fund DOBRA, a food and beverage brand, has raised Rs 1.5 crore in its seed funding led by the D2C Insider Super Angels Fund. The round saw participation from D2C founders and operators, marking the brand’s first institutional raise. The proceeds will be used to scale across modern retail outlets, food service channels, quick commerce platforms, and direct-to-consumer sales. Founded by Oxbow Brands, DOBRA is known for playful products such as pop goli soda, artisanal cotton candy, and tapioca crisps, which blend nostalgia with premium quality. Rahul Johar, co-founder of Oxbow Brands, said the funding is more than capital, it is an endorsement from entrepreneurs who have built category-defining consumer brands in India. “D2C Super Angels bring battle-tested insights that will help us scale faster,” he added. The brand aims to tap into India’s $170 billion FMCG market by offering differentiated, experience-led products that appeal to young, urban consumers. With this raise, DOBRA will strengthen operations, expand its product line, and deepen consumer trials, while laying the groundwork for international growth. D2C Insider provides funding and support to early-stage D2C startups and has a network of over 10,000 founders. The Super Angels Fund, introduced in October last year, focuses on investments in consumer-focused startups.

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