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News on Medial
Malabar, White Oak bet on healthcare marketplace at $120 mn valuation
VCCircle
·
8m ago
Medial
Malabar Investments and Whiteoak Capital have invested around $10 million in a healthcare marketplace, valuing it at $120 million. The asset management firms are joining the cap table through a private equity-style fresh allotment of securities. Malabar Investments and Whiteoak Capital are both India-focused asset managers with public market alternative investment funds.
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Grapevine: TPG-backed OneSource eyes funding; Nomura, Mizuho lead race for Avendus
VCCircle
·
10m ago
Medial
OneSource, a pharmaceutical contract development and manufacturing company backed by TPG Growth, is seeking funding of approximately $200 million. The firm is in talks with investors, including White Oak Capital, HBM Healthcare Investments, Tybourne Capital, and 360 ONE. Final approval from the National... (end)
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SUGAR Cosmetics to raise $4.5 mn from Anicut, Malabar
Inshorts
·
8m ago
Medial
Mumbai-based D2C Sugar Cosmetics is set to raise $4.5 million in what seems to be a tranche of funding from a host of investors, including Anicut Equity Continuum Fund, Elevation Capital, Malabar Investment and L Catterton among others. As per Inc42’s calculations, the startup secured the fresh funding round at a valuation of ₹2,600-₹2,700 crore.
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Jumbotail turns unicorn after $120 Mn Series D round
Entrackr
·
1m ago
Medial
Jumbotail, a B2B marketplace and new retail platform for food and grocery, has raised $120 million in a funding round led by SC Ventures, the innovation and investment arm of Standard Chartered Plc. Existing investors including Artal Asia participated in the round. This brings Jumbotail’s total capital raised to $263 million, according to a press release shared with Entrackr. According to Entrackr analysis, Standard Chartered Group will hold an 8.12% stake after investing $81.6 million, while existing investor Artal Asia will own 15.15% following a $5.1 million infusion. Entrackr estimates Jumbotail’s valuation at around $950 million with this investment and expects it to surpass $1 billion after the full $120 million raise. Jumbotail has declined to comment on its valuation. The development comes soon after the acquisition of Solv India by Jumbotail for an undisclosed amount. Founded in 2015, Jumbotail runs an online wholesale marketplace, providing product distribution and a suite of ancillary services for both sellers and buyers. On the other hand, Solv caters to the diverse commerce and fintech requirements of India’s small retailers (kiranas) and MSMEs. “This is a transformative moment in our journey,” said Ashish Jhina, co-founder and COO of Jumbotail. “Together with Solv, we now help thousands of brands and MSME sellers reach over 500,000 small retailers across more than 400 cities and towns in India.” While Jumbotail has not yet filed its financials for FY24 and FY25, its revenue from operations grew 2.17X to Rs 819 crore in FY23. However, losses also more than doubled to Rs 264 crore in the same year.
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IPO-bound AI company Fractal bags $170 million at $2.44 billion valuation - The Economic Times
Economic Times
·
24d ago
Medial
Fractal Analytics, an AI analytics firm, raised $170 million, valuing it at $2.44 billion. This includes a 6% equity secondary sale by Apax Partners, with new investors like Trust Investment Advisors and White Oak Capital participating. The company plans a $400-$500 million IPO to potentially value it at $3 billion. Founded in 2000, Fractal operates in AI and machine learning, primarily serving the U.S. market, and intends to expand its generative AI services.
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OrbiMed-backed Entero Healthcare slips on trading debut after $193-mn IPO
VCCircle
·
1y ago
Medial
Entero Healthcare Solutions, backed by OrbiMed, had a weak debut on the stock market after its IPO. The company's shares opened at a discount to the IPO price and continued to decline. The IPO raised approximately $193 million, with the company's market valuation standing at around $725 million. Entero aims to be a leading healthcare products distributor in India, with a focus on technology-driven solutions and a wide network of warehouses and delivery infrastructure. However, the IPO failed to attract strong investor interest, leading to a lackluster listing.
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Purplle raises $120 Mn led by ADIA; to buyback ESOPs worth $6 Mn
Entrackr
·
1y ago
Medial
Online beauty and grooming products marketplace Purplle has raised Rs 1,000 crore (approximately $120 million) in a round led by a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) with participation from other investors. The latest round includes a combination of primary and secondary shares. While the company did not disclose its current valuation, media reports estimate it at around $1.2-$1.3 billion. In addition to the funding round, Purplle has announced its largest-ever employee stock ownership plan (ESOP) liquidity program worth Rs 50 crore ($6 million). As per the company, it has granted ESOPs to 320 employees to date, and 85 of them have liquidated ESOPs worth Rs 75 crore ($9 million) over three buyback programs. In June 2022, Purplle raised $33 million in its Series E round from South Korea’s Paramark Ventures and turned unicorn with a valuation of $1.1 billion. The Manish Taneja-led company is primarily a marketplace but also sells its own labels such as Good Vibes. The company serves the beauty needs of customers in tier II, III and micro-markets, expanding beyond metro cities. Purplle claims that it is operationally profitable and has grown its GMV by around 4x over the last three years. It expects to grow its online platform faster than the industry while scaling offline stores and improving profitability. For the fiscal year ending March 2023, Purplle reported Rs 475 crore in operating revenue along with a loss of Rs 230 crore, according to startup data intelligence platform TheKredible. In the previous fiscal year (FY22), its revenue and losses stood at Rs 219 crore and Rs 203 crore, respectively. This will be the second secondary transaction for Purplle within a year. In October 2023, JSW Ventures exited the Gurugram-based company through a sale to Manipal Education & Medical Group Family Office (MEMG).
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Orbimed scripting well over $100-mn exit from a $10 mn bet in India
VCCircle
·
7m ago
Medial
OrbiMed, a healthcare-focused private equity firm, is divesting part of its stake in an Indian healthcare services provider. This follows three prior exit moves from its local portfolio over the past year. The firm recently made a partial exit from Kolkata-based Suraksha Diagnostic Ltd through an initial public offering, marking a significant gain from its initial $10 million investment in India, achieving a return of over $100 million.
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Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente
Inc42
·
1y ago
Medial
Healthtech unicorn Innovaccer is reportedly in talks with US-based health and insurance major Kaiser Permanente to raise a funding round of $200 million to $250 million. Innovaccer last raised $150 million in December 2021 at a valuation of $3.2 billion. If the latest funding talks materialize, the valuation could be lower, ranging between $2.5 billion and $3 billion. The fresh capital will be raised through a mix of primary and secondary funding. Innovaccer, founded in 2014, provides healthcare data analysis to healthcare providers, hospitals, insurance companies, and other organizations.
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Kedaara Capital starts 2025 with $350-mn bet on Impetus Technologies
VCCircle
·
6m ago
Medial
Kedaara Capital has invested over $350 million in Impetus Technologies, marking its entry into the data analytics and AI solutions market. This investment will help Impetus leverage Kedaara's global network and expertise. Impetus is known for its cloud and data migration product, LeapLogic, which automates legacy system transformations. Founded in 2012, Kedaara manages assets over $6 billion, focusing on growth-oriented investments across various sectors including technology, manufacturing, and healthcare.
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QubeHealth Plans Up To $9 Mn Raise For New Feature, AI Deployment
Inc42
·
1y ago
Medial
Healthcare fintech startup, QubeHealth, is aiming to raise between $6-$9 million in a Series A funding round. The funds will be used to launch an in-app marketplace offering healthcare solutions to users, such as connecting with doctors and locating clinics. QubeHealth provides a payment system and healthcare credit line to employees with group health insurance policies. Founder Chris George revealed that some investors have already backed the startup, but the funding round is yet to be closed. QubeHealth has already disbursed over INR 1,500 crore in healthcare credits to employees of more than 300 companies.
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